Firefly Metals Ltd · ASX:FFM
Firefly Metals — Mining Forum Americas 2025
32 slides from Firefly Metals's conference presentation, Sep 16, 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 • Building world-class scale - Already 1Mt of contained copper and 550koz of gold (24.4Mt for 460kt Cu and 200koz Au contained in M&I plus 34.5Mt for 690kt Cu and 350koz Au contained
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: 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 Newfoundland Labrador, Cana
Slide 5: Copper – The Macro Landscape
Copper – The Macro Landscape Nearly twice the amount of copper mined in human history is required in the next 27 For personal use only years to achieve net zero by 20501,2 Global Copper Mining Issues ● Decreasing copper grades ● Reduced discovery rates ● Time and cost to production ● Mining is getti
Slide 6: Outstanding transformation in less than two years
Outstanding transformation in less than two years Rapid low-cost growth through the drill bit = a proven strategy for value creation For personal use only OCTOBER 2023 SEPTEMBER 2025 Market Cap ~A$70M ~A$820M 1 2 + 1071% Share Price A$0.37 A$1.20 3 2 + 224% Drilling 0 Drill Rigs + 57% 8 Drill Rigs 2
Slide 7: Exceptional Share Register & Strong Balance Sheet
Exceptional Share Register & Strong Balance Sheet Well-funded to deliver strong velocity of news flow through 2025/2026 For personal use only CAPITAL STRUCTURE CURRENT Shares on issue 682.7M1 A$1.20 ~A$820M Management performance rights 36.1M2 Current Share Price1 Market Capitalisation1 SHAREHOLDERS
Slide 8: 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 Renée Roberts Darren Cooke David Southam Independent Independent Managing Director Executive Director Chief Executive Officer Advisor to the Board Non
Slide 9: Exceptional Management and In-Country Team
Exceptional Management and In-Country Team Management team with in-depth Canadian mining expertise For personal use only Jessie Liu-Ernsting Chen Sun Laura Noonan-Crowe Gus Simbanegavi Chief Corporate Chief Financial Officer General Counsel and Vice President Development Officer Company Secretary Op
Slide 10: An Exceptional High-Grade Asset
An Exceptional High-Grade Asset Two separate mineralised copper and gold zones at the mine For personal use only High Grade Upper Copper & Gold VMS Zones Broad Footwall Copper Stringer Zone • 10.7m @ 12.2% CuEq (9.0% Cu & 3.6g/t Au) MUG24_095 • 26.2m @ 5.3% CuEq (4.9% Cu & 0.4g/t Au) MUG25_015 • 5.4
Slide 11: Scarcity of Quality Copper and Gold Projects
Scarcity of Quality Copper and Gold Projects For personal use only Global Primarily Gold & Copper Projects Attractive Commodity Mix 2,194 Projects with MRE, pre-production In Tier 1 Jurisdiction (USA, Canada, Chile, Leading Jurisdiction 1,525 Projects and Australia) Held by Public Companies with a M
Slide 12: A Lack of Copper Opportunities on the ASX & TSX
A Lack of Copper Opportunities on the ASX & TSX Few junior companies with projects producing >30,000 tonnes of Cu 2024-2025 For personal use only 100,000 COPPER PRODUCTION (tonnes) 75,000 CY 2024 Actual - ASX1,2,3,4 Green Bay Copper Gold Project has huge growth opportunity Significant and immediate
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: Why Green Bay is well positioned for the future
Why Green Bay is well positioned for the future The ingredients are already in place for a substantial Copper Mine For personal use only A WORLD-CLASS VMS SYSTEM UNDERPINS THE MINE Large scale (24.4Mt M&I + 34.6Mt Inf) and High-Grade (2% CuEq) Mineral Deposit Copper-Gold Deposit, rapidly growing thr
Slide 15: A Transformational Acquisition for FireFly
A Transformational Acquisition for FireFly For personal use only Shaft • No drill rigs Drilling at 20 October 2023 Portal (On Acquisition by FireFly) • Poor drill spacing in upper Mineralisation 202,740m part of the mine starts 250m below surface • Historical mining focused on high-grade VMS • Not f
Slide 16: Rapid value creation by FireFly Metals
Rapid value creation by FireFly Metals • Underground development For personal use only Shaft FireFly Drilling & Mining in place to position drill rigs Portal (October 2023 – September 2025) to extend mineralisation Mineralisation 115,770m • High-grade VMS Zone starts 250m below 57% Increase surface
Slide 17: Drilling to Unlock Value by FireFly Metals
Drilling to Unlock Value by FireFly Metals For personal use only Shaft Total Drilling & Mining Portal (2010 – September 2025) Mineralisation 318,510m starts 250m below surface Improved Definition to INTERSECTIONS OUTSIDE enable inclusion in OF 60Mt RESOURCE Feasibility Studies 25.8m @ 5.1% CuEq Step
Slide 18: Multiple Targets Adjacent to Copper & Gold Ming Mine
Multiple Targets Adjacent to Copper & Gold Ming Mine Potential for another Ming………? For personal use only • Multiple high priority regional targets to be drill tested over coming weeks through 2025 • Rambler Main Mine drill results show similar style mineralisation to adjacent Ming Mine • All target
Slide 19: Initial Regional Drilling Intercepts High Grade Cu & Au
Initial Regional Drilling Intercepts High Grade Cu & Au ‘Look-alike’ to the adjacent Ming Mine For personal use only • Maiden diamond drilling at Rambler Main - the first regional target • 10.0m @ 6.4% CuEq (5.7g/t Au, 1.3% Cu, 1.7% Zn & 20.9g/t Ag) ~ true thickness • 12.9m @ 4.3% CuEq (4.2g/t Au, 0
Slide 20: Unlocking the regional camp-scale potential
Unlocking the regional camp-scale potential MING MINE UNTESTED M&I Resource: 22Mt @ 1.8% CuEq For personal use only MING-ORIENTED 5,535,000mN Inf Resource: 28Mt @ 2.0% CuEq CONDUCTIVE TRENDS Open Down Plunge • Recent FireFly UNTESTED geophysics identified MING-ORIENTED CONDUCTIVE TREND 325 untested
Slide 21: Economic studies targeting large-scale & long-life mine
Economic studies targeting large-scale & long-life mine Environmental approval secured for initial upscaled restart mining operation with construction For personal use only of TSF on site and new plant with throughput capacity of 1.8Mtpa Significant Progress to Date – Economic Studies scheduled for
Slide 22: 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 and 2026 For personal use only Milestone1 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 23 24 24 24 24 25 25 25 25 26 26 2025 Key Deliverables 2024 – 2026 PROGRAM • Underground development Green Bay
Slide 23: Game-Changing Catalyst-Rich High-Grade Opportunity
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$145 Million1 for Growth Throughout 2025 GREEN BAY COPPER & GOLD PROJECT • A fully operational underground mine in tier
Slide 24: Supplementary Information
Supplementary Information For personal use only • Appendix 1. Green Bay Mineral Resources • Appendix 2. Green Bay Project – Further Information • Significant Value Drivers Throughout 2025 “5 in 2025” • Existing Infrastructure = Lower Capex and Rapid Start-up • Deposit Geological Model • Mineralisati
Slide 25: 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 26: Ming Mine Mineral Resource Sensitivity
Ming Mine Mineral Resource Sensitivity For personal use only The Ming Mine1 is an even larger project at lower cutoff grades Cut-off Grade (Cu %) 0.5 551kt @ 1.4% CuEq M&I 702kt @ 1.7% CuEq Inferred 0.7 503kt @ 1.6% CuEq M&I 667kt @ 1.8% CuEq Inferred 0.9 436kt @ 1.7% CuEq M&I 612kt @ 2.0% CuEq Infe
Slide 27: Appendix – Green Bay Project Further Information
Appendix 2 – Green Bay Project Further Information For personal use only ASX | TSX FFM Twin boom jumbo at the Ming Mine 28
Slide 28: Significant Value Drivers Throughout 2025 “5 in 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 as well as the broad footwall copper rich zone Converting Inferred Resources to Me
Slide 29: 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 30: Green Bay Project Exploration Targeting
Green Bay Project Exploration Targeting MING DEPOSIT MODEL HIGHLIGHTS EXCEPTIONAL EXPLORATION UPSIDE1 For personal use only Ming North EXPLORATION OPPORTUNITY 1806 Parallel VMS 1807 zones untested • Limited exploration has been conducted Ming South in the past 40 years – a key opportunity • Downhole
Slide 31: Mineralisation Styles
Mineralisation Styles 86.3m @ 3.7% CuEq and 58.2m @ 3.1% CuEq (True Widths) For personal use only • MUG24- 079 is the best hole 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 z
Slide 32: Appendix 3 – 2024 Copper Production Data
Appendix 3– 2024 Copper Production Data 2024 Cu Metal For personal use only PROPERTY CURRENT OWNER PRODUCTION SOURCE DATA (Kt) Aranzazu Aura Minerals 16.7 December 2024 MD&A Quarterly Report. https://api.mziq.com/mzfilemanager/v2/d/7e088be0-b725-4cba-ab5e-4969a4ac92af/4f2b0044-b171-0521-21e7-9da0600