Economic study demonstrates scale, grade, long life, growth potential and robust financial returns

Preliminary Economic Assessment completed for the Green Bay Ming Mine Copper-Gold Project demonstrates positive economics across 1.8Mtpa base case and 4.6Mtpa alternative

Green Bay Copper-Gold Project, Canada Preliminary Economic Assessment and Mineral Resource Update

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FireFly Managing Director Steve Parsons said: “The findings of the economic study prove that Green Bay is one of the best undeveloped copper projects in the world based on a range of key metrics, ranging from scale and production profile through to financial returns and growth.

“The base case of 50,000t a year generates strong returns and we have a clear pathway to double that. And that is before allowing for the growth we aim to unlock through our ongoing drilling programs in the high-grade areas of the mine and the highly prospective regional exploration program now cranking up.

“The project simply ticks every box and is clearly poised to generate outstanding returns for all our stakeholders. The highly enviable nature of Green Bay is reflected in the fact that we have just launched a A$180m share placement across the ASX and TSX exchanges.

“Once in production, Green Bay has the potential to be one of the biggest copper mines in the world outside those owned by the multi-nationals and diversified mining giants. This means FireFly offers investors virtually pure copper exposure via an asset with genuine world-scale in a tier-one location.

“Our scale, our concentrated copper exposure and our outstanding growth outlook is a very rare combination in global markets. It is unique on the ASX. FireFly offers concentrated exposure to high-grade copper production in a tier-one location with ongoing growth potential”.