/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

Proceeds from the raising to be used to accelerate exploration campaign with seven rigs to drive rapid value by increasing and upgrading the Mineral Resource while conducting mining studies

FireFly has received firm commitments totalling approximately A$95m (before costs) via a charity flow-through offering, two-tranche institutional placement, and Canadian bought deal financingFireFly also intends to undertake a non-underwritten Share Purchase Plan to raise up to an additional A$5m (before costs) at the same offer price as the two-tranche institutional placementFireFly will receive an average price of A$1 per share in the raising, representing a discount of just 2.9% to the last sale price, after allowing for the Canadian flow-through premium

FireFly's first drilling in new area hits high-grade VMS mineralisation

The exceptional results highlight potential for a repeat of the Green Bay Project's high grade large scale flagship Ming Mine

KEY POINTS

FireFly's maiden drilling program at the historical Rambler Main Mine within Green Bay has returned high-grade gold-copper-zinc intersections Initial drilling targeted down-plunge extensions, with the first two drill holes returning exceptional intersections of: 10.0m @ 6.4% CuEq[1] (5.7g/t Au, 1.3% Cu, 1.7% Zn & 20.9g/t Ag) in hole FFR25-001 (~ true thickness)12.9m @ 4.3% CuEq (4.2g/t Au ,0.5% Cu, 1.5% Zn & 10.9g/t Ag) in hole FFR25-002 (~ true thickness)These step-out holes have extended the known mineralisation more than 200m beyond the limit of historical mining and it remains open down plungeThe results show Rambler Main shares many 'look-alike' features with the rich Ming Mine ~2km away, including the nature of the down-plunge extension from historical mining and the fact that the mineralisation remains openThis mineralisation at Rambler Main is also part of the same camp-scale Volcanogenic Massive Sulphide (VMS) system that formed the Ming deposit with the mineralisation located on the same geological contact Given the strength of these results and the key similarities with Ming, there is clearly potential for Rambler Main to be an important source of Mineral Resource growth at Green BayA similar surface drilling program has also been conducted at the nearby historical East Mine, with results expected soonThe surface drill rig is now back at Rambler Main testing for further depth extensions of the gold-copper-zinc mineralisation reported in this announcementThese programs are aimed at growing the overall Mineral Resource by unlocking the camp-scale potential at Green BayRambler Main was mined to 200m below surface between 1964 and 1967, with historical records indicating production of 440kt @ 1.3% copper, 4.7g/t gold and 2.2% zincThe Green Bay Mineral Resource Estimate stands at 24.4Mt at 1.9% CuEq Measured & Indicated Resource and 34.5Mt at 2.0% CuEq Inferred Resource; see ASX announcement dated 29 October 2024The Company remains well funded for its accelerated growth strategy with ~A$68.5M in cash, receivables and liquid investments at 31 March 2025

Drilling hits extensive copper and gold outside Mineral Resource

Plus, strong EM results highlight potential for significant mineralisation well beyond current drilling

KEY POINTS

"We are about to add a seventh rig because we have so many opportunities to pursue. There are very few projects which could justify such an aggressive drilling campaign but we have more than enough avenues of growth to warrant this." – Steve Parsons, Managing DirectorLatest drilling has intersected high-grade copper and gold mineralisation more than 200m beyond the current Mineral ResourceThe drilling shows the continuity and thickness of the high-grade upper copper and gold massive sulphide zone (VMS), with results from the two step-out holes intersecting: 12.4m @ 6.8% CuEq1 (3.6% Cu & 3.5g/t Au) in hole MUG25-040 (~ true thickness)25.8m @ 5.1% CuEq (4.6% Cu & 0.5g/t Au) in hole MUG24-124 (~ true thickness)The extensional drilling also intersected multiple zones of the thick high-grade copper footwall zone (FWZ) stringer style mineralisation with key results including: 19.5m @ 3.0% CuEq (2.7% Cu & 0.3g/t Au) in hole MUG25-040 (~ true thickness)14.5m @ 1.9% CuEq (1.8% Cu & 0.1g/t Au) in hole MUG25-040 (~ true thickness)A Down Hole Electromagnetic geophysical (DHEM) survey completed from the deepest step-out hole completed (MUG25-040) reveals a conductive anomaly that extends more than 700m beyond current drill extentsThis is highly significant because previous drilling of DHEM anomalies at the Ming Mine showed that those anomalies were directly associated with copper and gold mineralisation. Given this strong correlation, the survey points to continuity of the mineralisation and highlights the potential for substantial Mineral Resource growthThese results validate FireFly's extensive drilling program designed to create value by simultaneously extending known mineralisation, upgrading the Mineral Resource and making new discoveriesThe Green Bay Mineral Resource stands at 24.4Mt at 1.9% CuEq Measured & Indicated Resource and 34.5Mt at 2.0% CuEq Inferred Resource; see ASX announcement dated 29 October 2024The Company plans to accelerate underground drilling ahead of mining studies with a sixth underground rig due on site in late May. This will take the total number of rigs on site to seven, with a surface rig continuing to focus on high priority exploration targets near the Ming MineSurface drilling has initially targeted mineralisation at the historical Rambler Main Copper-Gold deposit that is located less than 3km from the Ming Mine at Green Bay. Rambler Main was mined to a depth of ~200m between 1964 and 1967. First assay results are expected in the coming weeksThe Company remains well funded for its accelerated growth strategy with ~A$68.5M in cash, receivables and liquid investments at 31 March 2025

Aggressive drilling campaign aims to extend known mineralisation, unlock full value by upgrading Inferred Resources to Measured & Indicated and test new targets

KEY POINTS

FireFly's six-rig drilling campaign at Green Bay continues to generate extremely high-grade resultsThe latest results support the strategy to create value by extending the known mineralisation, upgrading Inferred Resources to the more valuable Measured & Indicated categories and making new discoveries; This is aimed at establishing a global-scale project in a tier-one location, in turn aiming for further share price re-ratingThe latest exceptional assays from drilling at the Ming Mine within the Green Bay Project will form part of the next Mineral Resource update (currently 24.4Mt at 1.9% CuEq Measured & Indicated Resource and 34.5Mt @ 2% CuEq Inferred Resource; see ASX announcement 29 October 2024)There are two distinct styles of mineralisation at Ming; upper copper-gold rich Volcanogenic Massive Sulphide ('VMS') lenses above a broad copper footwall stringer zone ('FWZ')Drilling from the 805 exploration drive continues to deliver high-grade intersections from the copper-gold VMS, including (~true thickness):10.7m @ 12.2% CuEq (9.0% Cu & 3.9g/t Au) in hole MUG24-09517.3m @ 7.4% CuEq (7.0% Cu & 0.4g/t Au) in hole MUG24-08912.5m @ 4.2% CuEq (1.8% Cu & 2.6g/t Au) in hole MUG24-0892.3m @ 12.4% CuEq1 (8.2% Cu & 4.9g/t Au) in hole MUG24-098Drilling on the northern margins of the Mineral Resource continues to return thick and consistent drill intersections which confirm strong FWZ mineralisation directly below the high-grade VMS:58.2m @ 3.1% CuEq (2.4% Cu & 0.7g/t Au) in hole MUG24-083 (~ true thickness) Intersection includes a distinct VMS lode grading 5.0m @ 6.7% CuEq above a broad copper FWZ intersection with internal high-grade zones including 9.2m @ 5.0% CuEq and 5.2m @ 3.3% CuEqThe intersection in hole MUG24-083 is directly along strike of previously-reported thick high-grade intersections (see ASX announcement dated 10th of December 2024):86.3m @ 3.7% CuEq (3.1% Cu & 0.6g/t Au) in hole MUG24-079 (~ true thickness)76.3m @ 2.9% CuEq (2.4% Cu & 0.5g/t Au) in hole MUG24-073 (~ true thickness)Importantly these intersections conclusively prove that previously reported downhole EM geophysical anomalism is associated with copper and gold mineralisation (see ASX announcement dated 16 September 2024)Infill drilling has commenced with the aim of creating value by converting Inferred Resources to the Measured and Indicated categories for inclusion in future mining studies.A fifth underground drill rig is currently being mobilized to site to fast-track drilling; Downhole geophysics is ongoingSurface exploration drilling is underway using the sixth rig and will test high priority near mine targets with first results anticipated in the March quarterThe Company remains well funded for its accelerated growth strategy with ~A$84.1M in cash, receivables and liquid investments at 31 December 2024

Having rapidly established a world-scale copper-gold resource, FireFly continues to reinforce its appeal to global investment institutions

PERTH, Australia, Dec. 18, 2024 /CNW/ - FireFly Metals Limited (ASX: FFM) is pleased to advise that it has appointed highly experienced commercial lawyer Laura Noonan-Crowe as General Counsel and Company Secretary, effective from 15 January 2025.

Ms Noonan-Crowe has 17 years' experience in the resources industry and brings a wealth of knowledge in TSX compliance, corporate governance, and mining industry mergers and acquisitions.

Green Bay Copper-Gold Project, Canada

PERTH, Australia, Dec. 16, 2024 /CNW/ - Further to the announcement on 11 December 2024, FireFly Metals Limited (ASX: FFM) is pleased to advise that it will commence trading today on the main board of the Toronto Stock Exchange ("TSX") under the symbol "FFM".  This listing is in addition to FFM's primary Australian Securities Exchange ("ASX") Listing.

This announcement has been authorised by the Board of Directors.

ABOUT FIREFLY METALS

FireFly Metals Ltd (ASX:FFM) is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold project in Newfoundland, Canada. The Green Bay Copper-Gold Project currently hosts a mineral resource prepared in accordance with the JORC Code (2012 Edition) and NI 43-101 of 24.4Mt of measured and indicated resources at 1.9% for 460Kt CuEq and 34.5Mt of inferred resources at 2% for 690Kt CuEq. The Company has a clear strategy to rapidly grow the copper-gold resource to demonstrate a globally significant copper-gold asset.  FireFly has commenced a 130,000m diamond drilling program.

Listing will enable FireFly to capitalise on strong North American investor interest in its Green Bay Copper Project in Canada

PERTH, Australia, Dec. 11, 2024 /CNW/ - FireFly Metals Limited (ASX: FFM) is pleased to advise that it has received conditional approval to list on the main board of the Toronto Stock Exchange ("TSX").  This listing is in addition to FFM's primary Australian Securities Exchange ("ASX") Listing.

The Company expects the listing to take place on Monday, 16 December 2024 under the symbol "FFM".