Firefly Metals Ltd · ASX:FFM
Firefly Metals — BMO Miami Global Metals, Mining & Critical Minerals Conference 2025
45 slides from Firefly Metals's conference presentation, Feb 25, 2025
Slide 1: High-Grade Copper and Gold
ASX | TSX For personal use only FFM High-Grade Copper and Gold Significant and immediate growth through the drill bit • Company led by former Bellevue Gold and Northern Star executives with a proven track record • Rapid resource growth (Increased in 2024 to 24.4Mt for 460kt M&I plus 34.6Mt @ 690kt i
Slide 2: Disclaimer, Compliance & Cautionary Statements
Not for release to US wire services or distribution in the United States DISCLAIMER, COMPLIANCE & CAUTIONARY STATEMENTS This presentation has been prepared by FireFly Metals Ltd (Company) based on information from its own and third party sources. No party other than the Company has authorised or cau
Slide 3: JORC Code and NI 43-101
JORC CODE AND NI 43-101 Mineral Resource Estimates and Exploration Results are calculated in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC For personal use only Code 2012) and Canadian National Instrument 43-1
Slide 4: Not a Prospectus, Disclosure or Offering Document
NOT A PROSPECTUS, DISCLOSURE OR OFFERING DOCUMENT This presentation is not a prospectus, disclosure document or other offering document under Australian law or under any other law. It is provided for information purposes and is not an invitation nor offer of shares For personal use only or recommend
Slide 5: Investment Highlights
Investment Highlights Rapid low-cost growth through the drill bit - a proven strategy for value creation For personal use only GREEN BAY COPPER GOLD PICKLE CROW GOLD PROVEN TRACK RECORD • High grade copper and gold in • High grade gold in Ontario, • Management team with a proven track record of crea
Slide 6: Significant Delivery in 2024
Significant Delivery in 2024 …………2025 has plenty more to come 4 Drill Rigs For personal use only Underground Acquisition of Green Bay Results: Cu Au Re-assays Further FFM Results: FWZ Project & A$52M Capital • 47.2m @ 4.7% Cu & 2.2g/t Au • 63.1m @ 2.2% CuEq Resource Update 115km2 Regional Raise at $
Slide 7: FireFly's Latest Drill Hits
FireFly’s Latest Drill Hits Reflecting on a spectacular first year of world-class drill results in 2024 For personal use only High Grade Copper & Gold VMS Zones Broad Footwall Copper Stringer Zone • 10.7m @ 12.2% CuEq (9.0% Cu & 3.6g/t Au) MUG24_095 • 86.3m @ 3.7% CuEq (3.1% Cu & 0.6g/t Au) MUG24_07
Slide 8: Exceptional Share Register and Strong Balance Sheet
Exceptional Share Register and Strong Balance Sheet Well-funded to deliver strong velocity of news flow through 2025 For personal use only CAPITAL STRUCTURE CURRENT Shares on issue 564.7M1 A$0.98 ~A$550M Management performance rights 36.4M2 Current Share Price1 Market Capitalisation1 SHAREHOLDER SUM
Slide 9: Board and Management
Board and Management A Leadership team with proven success in the Resources Sector For personal use only Kevin Tomlinson Steve Parsons Michael Naylor Jessie Liu-Ernsting Renée Roberts Darren Cooke Independent Independent Independent Chief Executive Managing Director Executive Director Non-Executive
Slide 10: FireFly Metals Introduction Video
FireFly Metals Introduction Video For personal use only View the full video via the link: https://vimeo.com/1055831730
Slide 11: Significant value drivers throughout 2025
Significant value drivers throughout 2025 “5 in 2025” For personal use only Continue increasing the copper-gold Mineral Resource by extending the 1 Resource Growth known mineralisation in both the upper high-grade VMS and broad footwall zone Converting Inferred Resources to Measured & Indicated; M&I
Slide 12: A Lack of Copper Opportunities on the ASX
A Lack of Copper Opportunities on the ASX Very few ASX-listed companies with over 30,000 tonnes of attributable copper production 2023-2024 For personal use only 75,000 COPPER PRODUCTION - TONNES Green Bay Cu-Au Project has huge growth opportunity CY 2023 Actual – ASX1,2,3,4 Significant and immediat
Slide 13: Newfoundland – A Maritime and Mining Province
Newfoundland – A Maritime and Mining Province Newfoundland For personal use only Hydro & Labrador FireFly Metals Green Bay Operations Ming Copper Mine Fully Operational Mine FireFly Metals Pine Cove Deepwater Port Hydro Project is accessible 365 days a year by road, air & sea Hydro 1.5 hour drive fr
Slide 14: Virtual Site Tour
View full video click link below: Virtual Site Tour View the full video on our website via the link: https://fireflymetals.com.au/green-bay- https://fireflymetals.com.au/green- copper-gold-project/ bay-copper-gold-project/ For personal use only ASX | TSX FFM
Slide 15: A Large Scale Copper Gold VMS System
A Large Scale Copper Gold VMS System High Grade VMS (Cu+Au) Zones and a Broad Footwall Stringer (Cu) Zone Shaft For personal use only Portal MING MINE RESOURCE UNMINED & OPEN M&I Resource: 22Mt @ 1.8% CuEq and 0mRL Inf Resource: 28Mt @ 2.0% CuEq Orebody starts 250m below surface MUG24-089 (VMS) 10.7
Slide 16: Low-cost step-out growth, infill and discovery drilling throughout 2025
Low-cost step-out growth, high value-add Infilling and discovery drilling throughout 2025 For personal use only Continued rapid growth in 2025: • Phase 2 drilling underway with 5 x underground drill rigs: ✓ Step-out of high-grade VMS zones (currently 6Mt @ 4.3% CuEq and remains OPEN) ✓ Step-out of l
Slide 17: Recent and Deepest Drill Holes
Recent and Deepest Drill Holes 86.3m @ 3.7% CuEq and 58.2m @ 3.1% CuEq (True Widths) For personal use only • Best holes drilled by FireFly to date with thick consistent zones of high-grade copper and gold • Grade seems to be increasing down plunge • This hole has the highest-grade footwall zone enco
Slide 18: Downhole Geophysics
Downhole Geophysics Points to Further High-Grade Copper Zones For personal use only Strong DHEM (Down Hole Electro-Magnetic) results indicate new zones of mineralisation well beyond current drilling; ASX | TSX FFM
Slide 19: A District Scale VMS Camp
MING MINE & INFRASTRUCTURE (mined 1975-current) A District Scale VMS Camp RAMBLER MAIN MINE (mined 1964-67) • Current Resource of 400kt M&I plus 580kt Inf CuEq metal. • Only mined to ~200m below surface • Mineralisation remains Open • Mineralisation remains Open • Recent drill results include: • Lim
Slide 20: Green Bay Copper & Gold A Company Making Project
Green Bay Copper & Gold A Company Making Project GREEN BAY McILVENNA BAY COBAR ERNEST HENRY For personal use only Location Newfoundland, Canada Saskatchewan, Canada NSW, Australia Queensland, Australia Stage Pre-Development Development Production Production Resource1,3 M&I : 24.4Mt @ 1.7% for 400kt
Slide 21: Rapid Resource and Mine Growth Over Next Months
Rapid Resource and Mine Growth Over Next 12 Months Well-funded for significant velocity of news flow through 2025 For personal use only Milestone1 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2025 Key Deliverables 23 24 24 24 24 25 25 25 25 2024 – 2025 PROGRAM • Underground development drill drive Green Bay Project p
Slide 22: A Game Changing Catalyst Rich High-Grade Opportunity
A Game Changing Catalyst Rich High-Grade Opportunity Board & Management Team with a Proven Track Record of Creating Shareholder Wealth For personal use only Strong Cash Position of ~A$84.1M2 for Growth Throughout 2025 GREEN BAY COPPER-GOLD PROJECT • A fully operational underground mine in tier one m
Slide 23: Supplementary Information
Supplementary Information • Appendix 1. Green Bay Mineral Resources For personal use only • Appendix 2. Green Bay Project – Further Information • 2024 Achievements • UG Mine – Ready and Fully Operational • Existing Infrastructure = Lower Capex and Rapid Start-up • Ground Conditions and Mining Depth
Slide 24: Appendix – Green Bay Mineral Resources
Appendix 1 – Green Bay Mineral Resources1 Ming Deposit Mineral Resource Estimate For personal use only TONNES COPPER GOLD SILVER CuEq (Mt) Grade Metal Grade Metal Grade Metal Grade (%) (‘000 t) (g/t) (‘000 oz) (g/t) (‘000 oz) (%) Measured 4.7 1.7 80 0.3 40 2.3 340 1.9 Indicated 16.8 1.6 270 0.3 150
Slide 25: 2024 Delivery of a large-scale high-grade resource
2024 Delivery of a large-scale high-grade resource For personal use only Green Bay Mineral Resource Estimate1 TONNES COPPER GOLD SILVER CuEq (Mt) Grade Metal Grade Metal Grade Metal Grade (%) (‘000 t) (g/t) (‘000 oz) (g/t) (‘000 oz) (%) Measured 4.7 1.7 80 0.3 45 2.3 340 1.9 Indicated 19.7 1.7 330 0
Slide 26: Appendix – Green Bay Project Further Information
Appendix 2 – Green Bay Project Further Information For personal use only ASX | TSX FFM Copper-rich outcrop at the FireFly’s newly acquired Twin boom jumbo at the Ming Mine Tilt Cove project
Slide 27: A transformational year of ownership
A transformational year of ownership The Green Bay copper-gold acquisition was one of the most accretive corporate For personal use only development deals of recent times October 2023 November 2024 (Rambler) (FireFly) • Debt wiped via insolvency Debt +C$100M NO DEBT • Stream removed • >$120M raised
Slide 28: Underground Mine is Ready and Fully Operational
Underground Mine is Ready and Fully Operational Massive Sulphide Excellent Underground Conditions For personal use only • Underground drilling ~59,500m completed High-Grade Copper-Gold (~15 metre wide development at 800 level) • 4 drill rigs underground • Underground drill drive already 680m complet
Slide 29: High Grade VMS remains open at depth
High Grade VMS remains open at depth For personal use only • Upper VMS zone currently contains 6.0Mt @ 4.3% CuEq • The high-grade zone remains open • The VMS and FWZ are converging at depth • Grade in the upper portion of the FWZ observed to be increasing ASX | TSX FFM
Slide 30: Existing Infrastructure = Lower Capex and Rapid Start-up
Existing Infrastructure = Lower Capex and Rapid Start-up DEPTH Excellent Geotechnical For personal use only Surface 6m x 3m shaft to Conditions 0m Portal 630m below surface Upper FW Stope (unfired) in place (~750m below surface) Excellent Geotechnical Conditions Resource starts just Existing decline
Slide 31: Consistent and Continuous Large Scale Mineralisation
Consistent and Continuous Large Scale Mineralisation Step change discoveries - Geophysical testing ongoing For personal use only Unmined VMS Historical mined VMS Drill testing Unmined VMS High-Grade Massive Sulphide Upper Zones - Drill testing UNMINED 4.0m @ 9.2% CuEq (421C-2) 9.1m @ 7.8% CuEq (MMUG
Slide 32: Excellent Ground Conditions
Excellent Ground Conditions1 Low rock stress conditions allow for much deeper mining For personal use only Supported with existing decline, underground development & shaft ● The Mine is relatively shallow in comparison to other underground operations in Canada ● Low regional stress conditions allow
Slide 33: Green Bay Project Exploration Targeting
Green Bay Project Exploration Targeting MING DEPOSIT MODEL HIGHLIGHTS EXCEPTIONAL EXPLORATION UPSIDE1 For personal use only Ming North 1806 Parallel VMS EXPLORATION OPPORTUNITY 1807 zones untested • Limited exploration has been conducted Ming South in the past 40 years – a key opportunity • Downhole
Slide 34: Green Bay Project - Nearby Little Deer Cu-Au Complex
Green Bay Project - Nearby Little Deer Cu-Au Complex An unrealised opportunity with significant growth upside For personal use only TWO HISTORICAL MINES WITH NO MODERN EXPLORATION • Little Deer and Whalesback deposits mined between 1960 and 1972 (historic production of 3.8Mt @ 1% Cu) Untested • Sign
Slide 35: Permitting in Newfoundland & Labrador
Permitting in Newfoundland & Labrador Strong government support and leveraging existing permits to fast-track any future expansion For personal use only The Federal Environmental Assessment (EA) Process Impact Assessment Act 2019 • In Canada, approvals are Province-based, however for large- • The Fe
Slide 36: Appendix – Pickle Crow Gold Deposit
Appendix 3 – Pickle Crow Gold Deposit High Grade 2.8Moz @ 7.2 g/t Gold Resource and Open For personal use only LOCATION THE ASSET – PICKLE CROW UPSIDE • Operating in a Tier 1 mining • High-grade historical gold • 2.8Moz @ 7.2g/t inferred gold jurisdiction, Ontario Canada production of 1.5Moz @ 16.1g
Slide 37: An Exceptional Asset in a World-Class Location
An Exceptional Asset in a World-Class Location Pickle Crow Gold Deposit is surrounded by World-Class Gold Mines For personal use only PICKLE CROW 2.8mOZ @ 7.2G/T Gold Resource ASX | TSX FFM
Slide 38: Significant Shallow Open Pit Potential
Significant Shallow Open Pit Potential For personal use only Significant Potential to Grow the 2.8Moz @ 7.2g/t Resource • Potential for Open Pit as well as Underground mining at the Pickle Crow Deposit • Significant proportion of resource shallow from surface • Over 1Moz above 0.5g/t in the top 250
Slide 39: Huge Discovery Potential - An Entire Mineral District
Huge Discovery Potential - An Entire Mineral District For personal use only EXCEPTIONAL UPSIDE • First time entire Pickle Crow district held by one company • Over 46km of strike to be tested • Regional systematic geochemical sampling underway • Low-cost discovery potential • Numerous high priority w
Slide 40: Appendix – 2023 Copper Production Data
Appendix 4 – 2023 Copper Production Data 2023 Cu Metal For personal use only PROPERTY CURRENT OWNER SOURCE DATA PRODUCTION (Tonnes) Ant Hill Austral Resources 9,267 1. March 2023 Quarterly Report. https://www.australres.com/media/1273/20230414-ar1-austral-march-2023-quarterly-report.pdf?utm_source=a
Slide 41: Appendix – 2023 Copper Production Data (cont)
Appendix 4 – 2023 Copper Production Data (cont) 2023 Cu For personal use only Metal PROPERTY CURRENT OWNER SOURCE DATA PRODUCTION (Tonnes) Sierra Gorda South 32 (45%) 64,400 1. March 2023 Quarterly Report. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02657109-6A114
Slide 42: Appendix - References
Appendix 5 - References: ‘ Green Bay Copper & Gold - A Company Making Project’ For personal use only Number FOOTNOTES Resources for McIlvenna Bay are calculated under the Canadian NI 43-101 standards and are regarded as Foreign Estimates. Resources for Green Bay, Cobar and Ernest Henry 1 Projects ar
Slide 43: Appendix 6 - External Company Resources & Reserves
Appendix 6- External Company Resources & Reserves Mineral Reserve Estimate– Mineral Resources – Foran Mining McIlvenna Bay Project1 Foran Mining McIlvenna Bay Project2,3 For personal use only Measured Indicated TOTAL M&I Inferred Proven Probable TOTAL MINERAL RESERVE McIlvenna McIlvenna McIlvenna To
Slide 44: Appendix – Supplementary Information for Excellent Ground Conditions
Appendix 7 – Supplementary Information for slide titled ‘ Excellent Ground Conditions’ PROPERTY LOCATION CURRENT OWNER SOURCE DATA For personal use only Alamos Gold Inc. website states YD is a gold mine. https://www.alamosgold.com/operations/producing-mines/young-davidson- Commodity Gold canada/defa
Slide 45: Appendix – Supplementary Information for Excellent Ground Conditions
Appendix 7 – Supplementary Information for slide titled ‘ Excellent Ground Conditions’ For personal use only PROPERTY LOCATION CURRENT OWNER SOURCE DATA Gold, Silver, Zinc, Agnico Eagle website, https://www.agnicoeagle.com/English/operations/operations/laronde/default.aspx Commodity Copper Project S
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