Green Bay Copper-Gold Project, Canada: Exceptional high-grade copper and gold results pave the way for a significant Mineral Resource Estimate update this quarter

Executive Summary

• High‑grade infill drilling at the Green Bay Copper‑Gold Project returned multiple intersections exceeding 19% CuEq, confirming continuity and scale of copper–gold mineralisation.
• The results are expected to drive a material increase in Measured & Indicated (M&I) resources when the updated Mineral Resource Estimate is released later this quarter.
• FireFly’s balance sheet remains strong with ~A$145 million cash and liquid investments, supporting accelerated drilling, regional exploration and a Q1‑2026 preliminary economic study.

Key Details

• Infill drill intersections (CuEq):
• 4.4 m @ 19.5% CuEq (3.1% Cu & 19.2 g/t Au) – hole MUG25‑113
• 10.1 m @ 10.1% CuEq (6.6% Cu & 4.1 g/t Au) – hole MUG25‑110
• 8.0 m @ 8.6% CuEq (3.2% Cu & 5.8 g/t Au) – hole MUG25‑068
• 11.4 m @ 6.3% CuEq (4.4% Cu & 2.1 g/t Au) – hole MUG25‑083

• 5.5 m @ 5.7% CuEq (4.2% Cu & 1.6 g/t Au) – hole MUG25‑108

• Broad Footwall Zone (FWZ) intersections:

• 21.9 m @ 4.0% CuEq within a 117.0 m @ 2.1% CuEq zone – hole MUG25‑078
• 22.1 m @ 4.9% CuEq – hole MUG25‑083
• 25.0 m @ 2.8% CuEq and a further 10.6 m @ 2.2% CuEq – hole MUG25‑081

• 51.9 m @ 2.0% CuEq – hole MUG25‑058

• Current Mineral Resource (as of 29 Oct 2024):

• Measured & Indicated: 24.4 Mt @ 1.9% CuEq = 460 kt CuEq

• Inferred: 34.5 Mt @ 2.0% CuEq = 690 kt CuEq

• Planned updates:

• Updated Mineral Resource Estimate slated for release later this quarter, expected to increase M&I resources substantially.

• Preliminary economic studies scheduled for completion in Q1 2026, underpinned by the forthcoming resource upgrade.

• Drilling program status:

• Six underground rigs (plus two surface rigs) are active, targeting both infill/resource conversion and step‑out extensions.

• Total underground drilling to date: ~123,673 m across 241 holes (as of 5 Oct 2025).

• Regional exploration:

• Two surface rigs testing conductive geophysical anomalies on the central Green Bay leases.

• VTEM survey underway over the 115 km² Tilt Cove Project; helicopter magnetic survey ongoing on Green Bay leases.

• Financial position:

• Cash and liquid investments of ~A$145 million (post‑equity raise: A$10 m Share Purchase Plan + ~A$26.6 m institutional placement).

• Funds earmarked for accelerated exploration, early works, and completion of the feasibility study.

• Corporate milestones:

• FireFly admitted to the ASX 300 index on 22 Sep 2025, reflecting rapid growth since acquiring Green Bay in Oct 2023.

Notable Quotes

“Our aggressive drilling strategy… is paying huge dividends. These latest infill drilling results are outstanding, with grades of almost 20% CuEq paving the way for growth in the Measured and Indicated Resource.” – Steve Parsons, Managing Director, FireFly Metals Ltd