FireFly Metals Ltd announces C$25.8 (~A$28.8) million Canadian bought deal financing and C$41.2 (~A$46.0)million Australian equity raise

Press Release

PERTH, Australia, June 5, 2025 – FireFly Metals Ltd (ASX: FFM, TSX: FFM) (the “Company” or “FireFly”) has announced today that it has entered into an agreement with BMO Capital Markets, pursuant to which BMO Capital Markets has agreed to purchase, on a bought deal basis, 30,000,000 ordinary shares of the Company (the “Ordinary Shares”) at a price of C$0.86 (A$0.96) per Ordinary Share for gross proceeds of C$25.8 (approximately A$28.8)1 million (the “Canadian Offering”). The Company has also granted BMO Capital Markets an option, exercisable at the offering price for a period of 30 days following the closing of the Canadian Offering, to purchase up to an additional 10% of the Canadian Offering to cover over-allotments, if any, and for market stabilization purposes.

The Ordinary Shares under the Canadian Offering will be offered in Canada by way of a short form prospectus in all of the provinces of Canada, except Quebec, and may also be offered by way of private placement in the United States and offshore jurisdictions in accordance with applicable laws. The Canadian Offering is expected to close on or about June 20, 2025 and is subject to the Company receiving all necessary regulatory approvals.

Separately, the Company has also entered into an agreement with Canaccord Genuity to raise total gross proceeds of approximately A$46.0 million in respect of ordinary shares of the Company (the “Australian Offering”) concurrently with the Canadian Offering. The Australian Offering is presently intended to consist of a charity flow-through placement of A$11.2 million (“Flow-Through”) and an institutional placement (“Placement”) of A$29.9 million. FireFly will also separately undertake a retail share purchase plan (“SPP”) of up to A$5 million (with the ability to accept oversubscriptions, at the discretion of the Company). The Flow-Through and Placement are expected to close on or about June 13, 2025 with the SPP to be completed subsequently.

The net proceeds of the Canadian Offering and the Australian Offering will be primarily used for expenditure at the Green Bay Copper-Gold Project including underground development, Resource extension and infill drilling, regional and near mine exploration and drill testing, pre-construction and study works. The net proceeds will also be used for transaction costs and working capital.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

FireFly Metals Ltd (ASX, TSX: FFM) is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold Project in Newfoundland, Canada, which is comprised of multiple assets, including the Ming underground mine and Little Deer exploration project. The Green Bay Copper-Gold Project currently hosts a Mineral Resource prepared in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012) and Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (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 Mineral Resource to demonstrate a globally significant copper-gold asset. FireFly has commenced a 130,000m diamond drilling program.

FireFly holds a 70% interest in the high-grade Pickle Crow Gold Project in Ontario. The current Inferred Resource stands at 11.9Mt at 7.2g/t for 2.8Moz gold, with exceptional discovery potential on the 500km2 tenement holding.

The Company also holds a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia.

For further information regarding FireFly Metals Ltd please visit the ASX platform (ASX:FFM) or the Company’s website www.fireflymetals.com.au or SEDAR+ at www.sedarplus.ca.

Contact Information:

Michael Naylor
Executive Director
Email: mnaylor@fireflymetals.com.au

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