• Exceptional continuity and grade within the high-grade Core Zone
• Mineral Resource Estimate update and Preliminary Economic Assessment on track
• Sale of Ontario Gold Assets to unlock value for shareholders

FireFly Metals Ltd (ASX/TSX: FFM) reported on its activities and achievements during the March 2026 quarter, highlighting the continued advancement of its multi-rig underground drilling campaign at the Green Bay Copper-Gold Project in Newfoundland and Labrador, Canada. The drilling results confirmed exceptional continuity and grade within the high-grade Core Zone, where the copper and gold-rich Volcanogenic Massive Sulphide (VMS) mineralisation converges with the broad copper stringer Footwall Zone. Headline results include 70.8m @ 4.0% CuEq and 53.3m @ 4.1% CuEq. The Green Bay Mineral Resource Estimate stands at 50.4Mt @ 2.0% CuEq in the Measured & Indicated (M&I) categories plus 29.3Mt @ 2.5% CuEq in Inferred, with the high-grade Core Zone of 8.8Mt @ 3.9% CuEq M&I and 10.9Mt @ 3.8% CuEq Inferred having the potential to be an extremely valuable feed source in early years of production. The Preliminary Economic Assessment (PEA) / Scoping Study is on track for completion in mid-2026, covering multiple development scenarios for an upscaled restart of copper-gold production. FireFly also announced the completion of the sale of its Ontario Gold Assets to ASX-listed Bellavista Resources Ltd, which is expected to unlock value for FireFly shareholders through an in-specie distribution of Bellavista shares.

FireFly's growth strategy remains focused on advancing the Green Bay project towards the resumption of upscaled copper and gold production, with near-term activities including upgrading the Mineral Resource from Inferred to M&I categories, Mineral Resource growth, completion of the PEA/Scoping Study, and advancement of permitting, engineering and early works.