Results of FireFly's Share Purchase Plan

FireFly Metals Ltd announced the successful closure of its Share Purchase Plan (SPP), raising approximately A$5 million from 333 retail shareholders. The SPP issued 2,794,621 new fully paid ordinary shares at an issue price of A$1.78 per share. This retail raising was conducted concurrently with a larger ~A$180 million institutional and bought-deal equity raising completed in early September 2026.

Proceeds from the total capital raise will fund development early works, underground drilling for resource growth, regional exploration, and technical studies including a Definitive Feasibility Study (DFS) and Pre-Feasibility Study (PFS). The announcement reiterates the Mineral Resource Estimate of 60.2 Mt Measured & Indicated at 2.4% CuEq and 23.5 Mt Inferred at 2.5% CuEq. Managing Director Steve Parsons highlighted the strong retail support and confirmed the company is well-funded to advance the Green Bay Copper-Gold Project.

FireFly Metals Ltd. (FFM) announced the results of its Special Purpose Placement (SPP), a direct follow-up to the financing announced on August 24, 2026, and completed institutionally in early September. The capital raise was fully subscribed and closed as expected, confirming strong retail appetite alongside institutional demand.

The issuance of approximately 2.8 million shares represents minimal dilution of approximately 0.3% relative to the approximately 875 million shares outstanding post-financing. No new project metrics, resource updates, or financial guidance were introduced, as the news simply confirms the successful execution of a previously announced capital event. The funding significantly de-risks the near-term development pathway, providing ample runway for the Definitive Feasibility Study (DFS), early works, and continued drilling ahead of a targeted Final Investment Decision (FID) in mid-2027.

FireFly Metals Ltd is a mining and exploration company focused on the Green Bay Copper-Gold Project in Newfoundland, Canada. The flagship project encompasses the historic Ming Mine and the Little Deer Deposit, covering a 346 km² 100% owned VMS district.

A Preliminary Economic Assessment (PEA) released in August 2026 outlines two viable production scenarios:

• 1.8Mtpa Base Case: ~A$2.2B after-tax NPV (7%), 41% IRR, 32-year mine life, ~50kt CuEq/year average production, C1 cash costs of US$2.05/lb CuEq, and a 1.9-year payback period.
• 4.6Mtpa Alternative Case: ~A$3.0B after-tax NPV (7%), 39% IRR, 22-year mine life, ~90kt CuEq/year average production, C1 cash costs of US$1.84/lb CuEq, and a 3.7-year payback period.

The project has received conditional environmental release, and early works have commenced. The company targets a Final Investment Decision and construction commencement in mid-2027, with first concentrate production projected for mid-2029. Management team includes seasoned executives from Northern Star, Newmont, Barrick, and Rio Tinto, led by CEO Darren Cooke and Managing Director Steve Parsons.