• FireFly to sell Ontario Gold Assets for up to A$86.1M to Bellavista Resources
• FireFly shareholders to receive Bellavista shares, retaining exposure to the assets
• Bellavista to drive exploration and development of the Ontario Gold Assets

FireFly Metals Ltd (ASX: FFM, TSX: FFM) has entered into a binding agreement to sell its interests in the Pickle Crow Project and Sioux Lookout Project (the Ontario Gold Assets) to Bellavista Resources Ltd (ASX: BVR) for total consideration of up to A$86.1 million. Under the terms of the transaction, FireFly will receive 60 million Bellavista shares (A$47.4 million) upfront and 50 million Bellavista performance rights (A$38.7 million) contingent on the achievement of certain milestones. Subject to shareholder approval, FireFly will undertake an in-specie distribution of the upfront Bellavista shares, which is expected to comprise up to 31% of Bellavista's shares. This will allow FireFly shareholders to directly participate in the future performance of the Ontario Gold Assets through their Bellavista shareholding, while FireFly focuses on the development of its Green Bay Copper-Gold Project. Bellavista, led by experienced executives Glenn Jardine and Peter Canterbury, intends to raise A$25 million to drive resource growth and exploration at the Ontario Gold Assets. The transaction is expected to complete in early April 2026, subject to shareholder approvals and other customary conditions.

Bellavista intends to raise ~A$25m (before costs) to drive Resource growth and a major regional exploration program at the Ontario Gold Assets.