• Environmental approvals secured, construction permitting underway
• Metallurgical tests return exceptional copper (98%+) and gold (85%+) recoveries
• Scoping Study on track for Q1 2026 release

FireFly Metals Ltd (ASX: FFM, TSX: FFM) has passed key milestones on the path to an upscaled production restart at its Green Bay project in Canada. The Company has secured environmental approval for the processing plant, construction permitting has commenced, and metallurgical tests have returned extremely strong results. The comprehensive metallurgical testwork was completed on 1,500kg of samples from the Ming Mine, with copper recovery exceeding 98% and gold recovery exceeding 85%. These results are a significant improvement compared to the previous small-scale operation. Permitting and economic studies on the upscaled restart are well underway, with a Scoping Study expected in Q1 2026. The Company has also commenced a 130,000m diamond drilling program to rapidly grow the copper-gold Mineral Resource.

FireFly remains well-funded to complete its growth and exploration strategy, with $145 million in cash, receivables and liquid investments. The Company is focused on expanding the Mineral Resource, discovering new deposits, and resuming copper production at a much larger scale than historical mining.