• FireFly continues to generate strong infill drilling results to upgrade Inferred Resources to Measured and Indicated Resources
• Drilling intersected high-grade copper-gold mineralization, including up to 14.2m @ 7.5% CuEq
• Broad copper-rich footwall zone shows potential for large-scale bulk mining

FireFly Metals Ltd (ASX: FFM, TSX: FFM) has announced further exceptional drilling results at the Green Bay copper-gold project in Canada. The infill drilling program is a key part of FireFly's strategy to create significant shareholder value in 2025 by upgrading Inferred Resources to the higher-confidence Measured and Indicated category. These higher-confidence Resources typically attract increased valuations and can be used to help underpin mining studies, which in turn are designed to demonstrate the production and cashflow potential of the project. Drilling of the Massive Sulphide (VMS) lenses from the exploration drive continues to deliver high-grade intersections from copper-gold rich zones, including 14.2m @ 7.5% CuEq, 9.0m @ 5.5% CuEq, 14.5m @ 4.6% CuEq and 19.0m @ 3.8% CuEq. The broad Footwall stinger zone also demonstrated thick and consistent copper mineralization, with intersections up to 50.9m @ 2.6% CuEq, pointing to the potential for large-scale bulk mining. The latest infill drilling results are expected to significantly increase the quantity of Measured and Indicated Resources, which currently stand at 24.4Mt at 1.9% CuEq. FireFly remains well-funded with ~A$84.1M in cash, receivables and liquid investments to execute its accelerated growth strategy.

FireFly has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

FireFly remains committed to accelerating its growth strategy at the Green Bay project, comprising a combination of resource growth, resource upgrades and new copper-gold discoveries. The company plans to continue its extensive six-rig drill program, with an additional underground rig scheduled to commence in May, bringing the total to seven. Resource updates and preliminary economic mining studies are expected to be delivered later in 2025.