FireFly Metals (FFM) 2024 Precious Metals Summit Zurich + Energy Transition summary

Project Highlights and Recent Achievements

• Green Bay Copper-Gold Project resource updated to 59 million tonnes at 2% copper equivalent, representing a 42% increase and ranking among Canada's top undeveloped copper resources, with 1.2Mt contained metal.

• Market capitalization rose from AUD 70 million to AUD 700 million in one year, with AUD 88 million cash on hand and no debt, supporting aggressive exploration and development.

• District land holdings expanded from 58 to 326 square kilometers, supporting a regional exploration strategy and multiple walk-up copper and gold targets within 25km of infrastructure.

• 57% institutional register, major shareholder BlackRock at 14%; dual-listing on TSX expected by month-end, with a market cap of AUD 682M as of November 2024.

• Board and management have strong track records in mine development and operations, with experience from Bellevue Gold, Northern Star, and major financial institutions.

Asset Transformation and Infrastructure

• Acquired Green Bay out of insolvency, eliminating AUD 100 million debt, streams, and off-take agreements.

• Inherited significant infrastructure: dewatered underground access, 500,000 tpa mill, water treatment, workshops, operational declines, shaft, processing plant, deep water port, and hydro power.

• Existing mill capacity mismatched to ore body scale; plans to build a new mill to maximize value and enable upscaled production.

• Access to a deep water port six kilometers away enhances export potential.

• High-quality copper concentrate with no deleterious elements, attracting strong market interest.

Exploration and Resource Growth Strategy

• Over 1,500 meters of development and 40 kilometers of drilling completed in the past year, with 130,000m of drilling planned for 2024/25.

• Resource growth driven by step-out drilling, with ore body open at depth and along strike, and both VMS and Footwall Zones remaining open.

• Downhole geophysics and EM surveys reveal further resource potential beyond current boundaries, identifying new high-grade copper zones and extensions.

• Two distinct mineralization styles: high-grade massive sulfides and large-scale bulk stockwork zones, with the Ming Mine featuring a high-grade VMS zone (6Mt @ 4.3% CuEq) and a broad footwall zone.

• Five historic mines in the district, including Little Deer and Whalesback, remain open and are expected to add to future resources.