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High Grade Copper and GoldGreen Bay Project growing rapidly through the drill bit •Building world-class scale –Already 1Mt of contained copper and 550koz of gold(24.4Mt for 460kt Cu and 200koz Au contained in M&I plus 34.5Mt for 690kt Cu and 350koz Au contained in Inferred)•Rapid Growth –8 drill rigs turning•Dominant Position –A major copper and gold mineral district•Exceptional infrastructure –operational underground workings, shaft, processing plant, deep water port, low-cost hydro power and skilled workforce•Environmentally Permitted inTier One Mining Jurisdiction•Pickle Crow Gold –an exceptional value creation opportunity for FireFly shareholders 11 November 2025 ASX |TSXFFM
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DISCLAIMER, COMPLIANCE & CAUTIONARY STATEMENTSThis presentation has been prepared by FireFly Metals Ltd (Company) based on information from its own and third party sources. No party other than the Company has authorisedor caused the issue, lodgement, submission, dispatch or provision of this presentation, or takes any responsibility for, or makes or purports to make any statements, representations or undertakings in this presentation. To the maximum extent permitted by law, the Company and its related bodies corporate, and their respective directors, officers, employees, agents and advisers: (i) disclaim all responsibility and liability (including, without limitation, any liability arising from fault, negligence or negligent misstatement) for any expenses, losses, damages or costs incurred by you (including consequential or contingent loss or damage) arising from this presentation or reliance on anything contained in or omitted from it or otherwise arising in connection with this presentation, including any errors or omissions however caused, lack of accuracy, completeness, currency or reliability, or any reliance you or any other person may place on this presentation or its accuracy, completeness, currency or reliability; (ii) disclaim any obligations or undertaking to release any updates or revision to the information in this presentation to reflect any change in expectations or assumptions; and (iii) do not make any representation or warranty, express or implied, as to the accuracy, reliability, completeness of the information in this presentation or that this presentation contains all material information about the Company, or that a prospective investor or purchaser may require in evaluating a possible investment in the Companyoracquisition of shares in the Company (Shares), or likelihood of fulfilment of any Forward-looking Statement (defined below) or any event or results expressed or implied in any Forward-looking Statement.NO NEWINFORMATION OR DATA –GREEN BAY AND PICKLE CROW PROJECTSThis presentation contains references to the Mineral Resource Estimate at the Green Bay Project which have been extracted from the Company’s ASX announcement dated 29 October 2024, titled “Resource increases 42% to 1.2Mt of contained metal at 2% Copper Eq". Refer to Appendix 1 for a full break-down of the Green Bay Mineral Resource Estimate. Also refer to the Technical Reports for the Ming Copper Gold Mine and Little Deer Copper Project available on SEDAR+. This presentation also contains references to the Inferred Mineral Resource Estimate at the Pickle Crow Project (currently 11.9Mt at 7.2g/t for 2.8Moz gold) which have been extracted from the Company’s ASX announcement dated 4 May 2023, titled "High-Grade Inferred Gold Resource Grows to 2.8Moz at 7.2g/t". Metal equivalents for the Mineral Resource Estimate mineralisationat the Green Bay Project have been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Individual Resource grades for the metals are set out at Appendix 1 of this presentation. Copper equivalent was calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x0.00822). Metallurgical factors have been applied to the metal equivalent calculation. Copper recovery used was 95%. Historical production at the Ming Mine has a documented copper recovery of ~96%. Precious metal metallurgical recovery was assumed at 85% on the basis of historical recoveries achieved at the Ming Mine in addition to historical metallurgical test work to increase precious metal recoveries. Metal equivalents for drilling and exploration results have been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz, silver price of US$25/oz and zinc price of US$2,500/t. Individual grades for the metals are set out at Appendix 1 of this presentation. Metallurgical factors have been applied to the metal equivalent calculation. Copper recovery used was 95%. Historical production at the Ming Mine has a documented copper recovery of ~96%. Precious metal metallurgical recovery was assumed at 85% based on historical recoveries achieved at the Ming Mine in addition to historical metallurgical test work to increase recoveries. Zinc recovery is applied at 50% based on historical processing and potential upgrades to the mineral processing facility. Copper equivalent was calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822) + (Zn(%) x 0.15038). In the opinion of the Company, all elements included in the metal equivalent calculations have a reasonable potential to be soldand recovered based on current market conditions, metallurgical test work, and the Company’s operational experience. This presentation also contains references to certain Exploration Results that were first reported in accordance with ASX Listing Rule 5.7 in the Company's announcements of 28/01/2020, 26/03/2020, 01/09/2020, 11/11/2020, 19/01/2021, 7/04/2021, 16/06/2021, 15/07/2021, 2/08/2021, 5/10/2021, 2/12/2021, 18/1/2022, 3/5/2022, 23/6/2022, 22/11/2022, 24/1/2023, 31/8/2023, 11/12/2023, 16/1/2024, 4/3/2024, 21/3/2024, 29/4/2024, 19/06/2024, 22/08/2024, 3/09/2024, 16/09/2024, 3/10/2024, 29/10/2024, 10/12/2024, 12/02/2025, 25/3/2025, 7/05/2025, 15/05/2025, 17/07/2025 and 24/07/2025. The Company confirms that it is not aware of any new information or data that materially affects the information included in theoriginal announcements and that, in the case of Mineral Resources, all material assumptions and technical parameters underpinning the mineral resource estimates in the original announcements continue to applyand have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original marketannouncements.The Company has made reference to historic drilling and exploration results from a variety of exploration companies over the past 60 years that had previously explored its Projects. References to previous announcements should be read in conjunction with this presentation. 2 Not for release to US wire services or distribution in the United States
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ASX |TSX FFM JORC CODE AND NI 43-101Mineral Resource Estimates and Exploration Results are calculated in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012) and Canadian National Instrument 43-101 -Standards of Disclosure for Mineral Projects (NI 43-101). Investorsoutside of Australia and Canada should note that they may not comply with the relevant guidelines in other countries and, in particular, may not comply with Item 1300 of Regulation S-K, which governs disclosures in registration statements filed with the SEC. Information contained in this presentationdescribing mineral deposits may not be comparable to similar information made public by companies subject to the reporting and disclosure requirements of US securities laws. DISCLOSURE OF TECHNICAL INFORMATIONAll technical and scientific information in this presentation has been reviewed and approved by Group Chief Geologist, MrJuan Gutierrez BSc, Geology (Masters), Geostatistics(Postgraduate Diploma), who is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. MrGutierrez is a Competent Person as defined in the JORC Code 2012 and a Qualified Person as defined in NI 43-101. MrGutierrez consents to the inclusion in this presentation the matters based on his information in the form and context in which it appears.NI 43-101 compliant technical reports for each of the Company’s Ming Copper Gold Mine, Little Deer Copper Project and Pickle Crow Gold Project are available under the Company’s SEDAR+ profile at www.sedarplus.ca.FORWARD-LOOKING STATEMENTSThis presentation may contain certain forward-looking statements and forward-looking information concerning the Company, including but not limited to statements and information regarding the Company’s plans, forecasts and projections with respect to its mineral properties and programs, estimated Mineral Resources, cost projections, plans, strategies and objectives (Forward-looking Statements). Forward-looking Statements may be identified by the use of words such as “may”, “might”, “could”, “would”, “will”, “expect”, “intend”, “believe”, “forecast”, “milestone”, “objective”, “predict”, “plan”, “scheduled”, “estimate”, “anticipate”, “continue”, or other similar words and may include statements regarding plans, strategies and objectives.Although the Forward-looking Statements contained in this presentation reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such Forward-looking Statements are estimates for discussion purposes only and should notbe relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company. Such factors may include changes in commodity prices, foreign exchange fluctuations, changes in economic, social and political conditions, and changes to applicable regulation. Forward-looking Statements are inherently uncertain and involve known and unknown risks and uncertainties. Forward-looking Statements, and anticipated future results, performance or achievements expressed or implied by such Forward-looking Statements, may therefore differ materially from results and performance ultimately achieved by the Company. The performance of the Company may be influenced by a number of factors which are outside the control of the Company and its related bodies corporate and their respective directors, officers, employees,advisers and agents. Forward-looking Statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any Forward-looking Statements provided by the Company, or on behalf of the Company. Forward looking Statements in this presentation are based on the Company’s beliefs, opinions and estimates as of the dates the forward-looking Statements are made, and no obligation is assumed to update Forward-looking Statements if these beliefs, opinions and estimates should change or to reflect other future developments. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the Forward-looking Statements will prove to be accurate and undue reliance should not be placed on Forward-looking Statements. The Company does not undertake to update any Forward-looking Statements based on new information, future events or circumstancesor otherwise, except in accordance with applicable securities laws. No representation, warranty or undertaking, express or implied, is given or made by the Company that any events expressed or implied in any Forward-looking Statements in this presentation will actually occur. 3
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ASX |TSX FFM 5 Investment Highlights 1.PreparedinaccordancewithJORCCode2012&NI43-101.MetalequivalentsfortheMineralResourceEstimatehavebeencalculatedatacopperpriceofUS$8,750/t,goldpriceofUS$2,500/ozandsilverpriceofUS$25/oz.Metallurgicalrecoverieshavebeensetat95%forcopperand85%forbothgoldandsilver.CuEq(%)=Cu(%)+(Au(g/t)x0.82190)+(Ag(g/t)X0.00822).IntheopinionoftheCompany,allelementsincludedinthemetalequivalentcalculationhaveareasonablepotentialtobesoldandrecoveredbasedoncurrentmarketconditions,metallurgicaltestwork,andtheCompany’soperationalexperience.2.Cash,receivablesandliquidinvestmentspositionat30September2025.FireFlyQuarterlyActivitiesReportdated29October,2025. Rapid low-cost growth through the drill bit = a proven strategy for value creation PROVEN TRACK RECORD•Management team with a proven track record of creating significant value for shareholdersand stakeholders•Recent success with ASX200 Bellevue Gold from discovery to production in only 5 years•Well-funded with ~A$129.7M cash and liquidities2 GREEN BAY COPPER GOLD•High grade copper and gold in Newfoundland Labrador, Canada•Large scale, high grade and open 1.2Mt contained metal at 2% copper equivalent1(M&I of 24.4Mt for 460kt contained metal at 1.9% and Inf of 34.5Mt for 690kt contained metal at 2% copper equivalent1 •A$250M of mine infrastructure•Significant and immediate growthdrilling 130,000m in 2025 PICKLE CROW GOLD•High grade goldin Ontario, Canada•2.8Moz @ 7.2g/t goldresource•Inferred resource remains open•Significant landholding with huge exploration upside•A major gold mining district•A value creation opportunity for FireFly shareholders
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ASX |TSX FFM 6 Exceptional Share Register & Strong Balance SheetWell-funded to deliver strong velocity of news flow through 2025/2026 ~A$129.7MCash & Liquidities5 ~A$1.1BMarket Capitalisation1A$1.62Current Share Price1 2.7MAverage Daily Volume4 ASX & TSX listingsNo Offtake No StreamsNo Debt CAPITAL STRUCTURECURRENTShares on issue682.7M1Management performance rights36.1M2SHAREHOLDERS OVER 5% SUMMARY3Australian & Global Institutions 67%BlackRock Group13%Board & Management (fully diluted)8%Regal Funds Management7%GLOBAL BANKING & RESEARCH 1.ASXasat7November2025.2.Managementperformancerightsareunlisted.3.Asat15August2025.4.ASXTradingfrom1July2024.5.Cash,receivablesandliquidinvestmentspositionat30September2025. ASX 300
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ASX |TSX FFM 7 An Exceptional High-Grade VMS ProjectMultiplehigh-grade copper & gold zones and all remain Open*All drill holes ~ true thicknessHigh-Grade Upper Copper & Gold VMS ZonesBroad Footwall Copper Stringer Zone•10.7m @ 12.2% CuEq(9.0% Cu & 3.6g/t Au) MUG24_095 •11.6m @ 9.3% CuEq(6.0% Cu & 3.9g/t Au) MUG24_128 •26.0m @ 8.2% CuEq(6.1% Cu & 2.4g/t Au) MUG23_030 •13.5m @ 7.6% CuEq(5.3% Cu & 2.6g/t Au) MUG23_029 •10.1m @ 10.1% CuEq(6.6% Cu & 4.1g/t Au) MUG25_110 •17.8m @ 6.6% CuEq(4.4% Cu & 2.2g/t Au) MUG23_003 •31.7m @ 3.5% CuEq(3.4% Cu & 0.1g/t Au)MUG24_063 •56.8m @ 2.7% CuEq(2.5% Cu & 0.1g/t Au) MUG24_058 •47.1m @ 2.4% CuEq(2.3% Cu & 0.2g/t Au) MUG23_014 •63.1m @ 2.2% CuEq(2.0% Cu & 0.1g/t Au) MUG24_004 •117.0m @ 2.1% CuEq(2.0% Cu & 0.1g/t Au) MUG25 -78 •51.0m @ 2.2% CuEq(2.1% Cu & 0.1g/t Au) MUG24_009 Extremely High-Grade +800m ‘Convergent’ Copper & Gold Zone•43.6m @ 7.6% CuEq(5.7% Cu & 2.1g/t Au)includes14.9m @ 16.0% CuEqMUG25-214•44.5m @ 3.7% CuEq(3.0% Cu & 0.8g/t Au) includes22.0m @ 4.5% CuEqMUG25-144•86.3m @ 3.7% CuEq(3.1% Cu & 0.6g/t Au) includes27.6m @ 5.3% CuEqMUG24-079•76.3m @ 2.9% CuEq(2.4% Cu & 0.5g/t Au) includes20.1m @ 6.1% CuEqMUG24-073•49.0m @ 6.1% CuEq(4.9% Cu & 1.3g/t Au) includes14.3m @ 13.7% CuEqMUG25-202Furthest step-out hole to date(~ 39.2m true thickness)
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ASX |TSX FFM 8 Newfoundland –A Maritime and Mining Province •Strong government support•Mining sector contributes +32% to GDP1•Skilled mining workforce readily available•Track record of expedited mine permitting•Top 6 for policy friendliness by Fraser Institute•Hydro Power abundant throughout Newfoundland Newfoundland & Labrador Newfoundland & Labrador FireFly Metals 1. Data Source: Statista Distribution of gross domestic product of Newfoundland and Labrador, Canada in 2021 by industry FireFly Metals Green Bay OperationsMing Copper Mine Pine Cove Deepwater Port 1.5 hour drive from Deer Lake to project site via Trans-Canada Hwy Project is accessible 365 days a year by road, air & sea Tier 1 Mining Jurisdiction Fully Operational Mine Hydro HydroHydro Hydro Hydro Hydro Hydro
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ASX |TSX FFM 9 ShaftPortal Broad Cu Footwall Zone High Grade Cu -Au VMS Zones 2.2 km of strike and remains OPEN Quality drilling ready for Feasibility Studies in 2026 600m growth previous resource Total Drilling & Mining (2010 –September 2025)318,510m Limit of Oct 2024 Resource Cu Assays>0.5% Mineralisation starts 250m below surface 500m 12.4m @ 6.8% CuEq 25.8m @ 5.1% CuEqRECENT INTERSECTIONS OUTSIDE OF 60Mt RESOURCE 49m @ 6.1% CuEq 805 Exploration Drive2,335m of Development Mined •Drilling to unlock value for studies and growth•6 x rigs underground•VMS zone high-grade copper & gold is open:o10.7m @ 12.2% CuEq(VMS)o17.3m @ 7.4% CuEq(VMS)•FWZ copper zone is open:o63.1m @ 2.2% CuEq(FWZ)o117.0m @ 2.1% CuEq(FWZ) Ming Underground Mine Consistenthigh-grade copper & gold that remains open Latest step -out hole Limit Resource when FireFly commenced maiden drilling Dec 2023
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ASX |TSX FFM 10 Portal •49.0m @ 6.1% CuEq(internal high-grade zone of 14.3m @ 13.7% CuEq) (~39.2m true thickness)•Furthest step-out ever drilled & one of the best holes ever drilled•650 metre step-out beyond the current resource•Large scale Down Hole EM geophysical conductor points to continuation Ming Underground Mine An extremely high-grade +800m copper & gold core zone that remains open •OPEN down plunge•NEVER drilled underneath zones•NEVER drilled for Parallel zones•NEVER drilled along strike
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ASX |TSX FFM Existing Infrastructure, Permitted Ready for Start-UpDecline & UG Development 1000m 0mSurface Portal Long section looking west DEPTH Phase 1 Drill DrivePhase 2 Drill Drive (Extension) Resource starts just 250m below surface 6m x 3m shaft to 630m below surface in placeExisting decline beneath the shaft is already 5m x 5m Upper FW Stope (unfired) (~750m below surface) Open for >1 year, excellent ground, no water issues Excellent Geotechnical Conditions Exploration Drive (~975m below surface) Excellent ground, no stress indicators, good profile, dry Excellent Geotechnical Conditions Regional stress conditions are far lower than Western Australia meaning you can mine deeper Footwall Zone accessed but barely minedHaulage& Mining Options•PEA/Scoping Study in progress •Bulk mining options•Existing decline 5m x 5m •Excellent –can mine far deeper in Canada than WAGround Conditions •Current UG development costing A$10,000/m (WA +A$ 10,000m)•Hydro power available for 6c per kwh (WA >20c/kwh)•Port facility only 5km away Cost Advantages 5m x 5m 2025 Drilling 11
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ASX |TSX FFM •Released from Environmental Assessment in just 45 days•Application for early works permits in progress•Tailings site selected & designed•Ongoing sampling & monitoring•Strong community support •Mining method selected –bulk transverse long hole open stoping•Preliminary design and schedule shows potential for further upscaling•Geotechnical work in progress, including rock mass modelling and UCS testing•Paste fill studies underway •Preliminary met testwork completed, +98% Cu and +85% Au recovery•Site surface layout completed•Process flow and mill design in progress•Hydro studies underway –indicate ample power supply for upscaled plant•Port design and optimisation underway Economic studies targeting large-scale & long-life mine MiningProcessing Met Testwork Paste Fill Environment, Permitting & Closure Power & Energy Tailings Diamond DrillingAssays Geology Environment & Community Mining Mineral Processing Port Study Partners & Key Contractors Significant Progress to Date –Economic Studies scheduled for Q1 2026 1. the Company continues to explore opportunities that may support future increases in production capacity. These scenarios will be considered within broader economic evaluations as part of future alternative development pathways. Should any of these cases be pursued, they would be subject to further review and approval by the appropriate regulatory authorities Environmental approval secured for initial upscaled restart mining operation with construction of TSF on site and new plant with throughput capacity of 1.8Mtpa 12
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ASX |TSX FFM 13 Unlocking the regional camp-scale potential MING MINE M&I Resource: 22Mt @ 1.8% CuEqInf Resource: 28Mt @ 2.0% CuEqOpen Down Plunge MAGNETICSTotal Magnetic Intensity (nT) VTEMBedrock Conductive AnomalyHILLBOG TRENDUNTESTED EAST MINE Historic Production (1967-1974)2Mt @ 1.0%, Mined to 300m Open Down PlungeUNTESTED MING-ORIENTED CONDUCTIVE TRENDS UNTESTED MING-ORIENTED CONDUCTIVE TRENDS UNTESTED MING-ORIENTED CONDUCTIVE TRENDS VTEM TRENDSKnown MineralisationSame Orientation as Known MineralisationOther Conductive Trend UNTESTED MING-ORIENTED CONDUCTIVE TREND 570,000mE565,000mE560,000mE 575,000mE580,000mE 5,535,000mN 5,530,000mN 5,525,000mN 5,520,000mNUTM NAD 83Zone 21 Marwan-Lewis Area RAMBLER MAIN MINE Historic Production (1964-1964)440kt @ 1.3% Cu & 4.7g/t AuOpen Down Plunge •Recent FireFly geophysics identified 325 untested targets•2 x surface rigs turning, testing regional targets•Multiple Ming Mine look-alike targets•Maiden FireFly drilling intercepted: 10.0m @ 6.4% CuEqand 12.9m @ 4.3% CuEq~ true thickness•Tilt Cove Project exploration has commenced•C$16M of flow-through funds to accelerate discovery during 2025-2026 Huge number of target = DRILL DRILL DRILL!
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ASX |TSX FFM •Multiple high priority regional targets to be drill tested over coming weeks through 2025/26•Rambler Main Mine drill results show similar style mineralisation to adjacent Ming Mine•All targets are shallow (~200m depth) and OPEN•Significant Gold, Copper and Zinc•Further drilling underway•Rambler and East Mines are only 2km from the Ming Mine; Easy trucking to future mine infrastructure Multiple Targets Adjacent to Copper & Gold Ming Mine 14 Potential for another Ming………?
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ASX |TSX FFM Initial Regional Drilling Intercepts High Grade Cu & Au •Maiden diamond drilling at Rambler Main -the first regional target•10.0m @ 6.4% CuEq(5.7g/t Au, 1.3% Cu, 1.7% Zn & 20.9g/t Ag)~ true thickness•12.9m @ 4.3% CuEq(4.2g/t Au, 0.5% Cu, 1.5% Zn & 10.9g/t Ag)~ true thickness•Shallow and OPEN•Step-out growth drilling underway •HOW BIG COULD THIS BE? 15 ‘Look-alike’ to the adjacent Ming Mine
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ASX |TSX FFM Key Deliverables 1. Please note that timeframes are indicative and may be subject to change Well-funded for significant velocity of news flow through 2025 and 2026 •Underground development drill drive platform •6 x underground drill rigs targeting resource growth, upgrades & discovery•2 x surface rigs targeting regional discovery; extensive geophysical surveys to continue•Upscaled mine production & engineering studies scheduled for Q1 2026•Environmental approval for start-up operation received Milestone1 Q4 23Q1 24Q2 24Q3 24Q4 24Q1 25Q2 25Q3 25Q4 25Q1 26Q2 262024 –2026 PROGRAMGreen Bay Project Acquisition 15 Oct 2023UG Drill Drive Phase 1750m(completed)UG Drill Drive Phase 2~750m(commenced)UG Resource Drilling x6 rigs130,000m underwayResource UpdatesGeophysical targetingDiscovery near mine drilling x 1 rigNew and geophysical targetsRegional targeting x 1 rig Geophysics, mapping, drillingUpscaled Production & Engineering Studies 16 Studies 1. Timeframes are indicative and may be subject to change Rapid Resource and Mine Growth Over Next 12 Months
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ASX |TSX FFM 17 A Lack of Copper Opportunities on the ASX & TSXFew junior companies with projects producing >30,000 tonnesof Cu 2024-2025 1.See Appendix 3 for original source data for production information. 2.This graph depicts actual copper production information and is not a representation of mineral resources or ore reserve estimates. All noted assets were therefore in production at the time. 3.The Ming Mine production data is from 2022. The Ming Mine is currently under care and maintenance. 4.Excludes assets with attributable production over 100kt of copper. 0 25,000 50,000 75,000 100,000 Ca pricorn (29Metals)Tucuma (Ero Copper)Mt Colin (Aeris)Ming Mine (2022)No va-Bol li nger (IG O)Eloise (AIC Mines)Hudson Bay 777 (Hudbay)Mount Polley (Imperial Metals)Aranz azu (A ura Mi neral s)Tritton (Aeris)Copper Mou ntain (Hu dbay)Golden Gr ove (29Metals)Mount Milligan (Centerra)Cozamin (Ca pstone)No r thpar kes (Evo luti on)Minera Valle Ctrl (Amerigo)Ca raiba (E ro Copper)Mantoverde (Capstone)Cobar (MAC)Mantos Blancos (Capstone)Gibr altar (Ta seko)Jiama (China Gold )Er nest Henr y (Evolution )MATSA (Sandfire)Pi nto V al le y (Capstone )Sierra Gorda (South32)Cons tan cia (Hudb ay) COPPER PRODUCTION (tonnes)CY 2024 Actual -ASX1,2,3,4 Green Bay Copper Gold Project has huge growth opportunityTargeting a large-scale mid-tier copper operation
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ASX |TSX FFM Game-Changing Catalyst-Rich High-Grade Opportunity PICKLE CROW GOLD PROJECT GREEN BAY COPPER & GOLD PROJECT•A fully operational underground mine in tier one mining jurisdiction•Large high-grade resource that is growing •Drilling for growth & further discovery •Significant mine upscaling underway for a mid-tier copper operation•A$250M of Infrastructure a huge head start (UG mines, shaft, declines, processing plant, deep water port, camp and hydro power) Board & Management Team with a Proven Track Record of Creating Shareholder WealthStrong Cash Position of A$130 Million1for Growth Throughout 2025 1. Cash, receivables and liquid investment position at 30 June 2025, plus A$10 million proceeds received from the Share PurchasePlan completed on 14 July 2025, and net proceeds from the second tranche of the Institutional Placement of ~A$26.6 million completed on 3 September 2025. •High-grade shallow 2.8Moz @ 7.2g/t gold inferred resource –OPEN•Significant regional scale land holding with huge growth opportunity 18
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ASX |TSX FFM 19 Board and ManagementA Leadership team with proven success in the Resources Sector Previously held C-Suite and director roles at large corporations including National Australia Bank, QBE andBank of New Zealand as well as at the Australian Prudential Regulatory Authority (APRA).Finance professional with considerable experience in risk management, financial services, governance, regulation, business transformation and growth, efficiency, strategic leadership, strategy development and execution.Currently the Chief Risk Officer at Judo Bank and Director of Collingwood Football Club. Non-Executive Independent Chair of Bellevue Gold (ASX200), former Chair of Cardinal Resources and Non-Executive director of CentaminPLC.Highly experienced mining executive with over 40 years’ experience across geology, investment banking and M&A in multiple jurisdictions including Canada, Australia, Africa and the UK.Previous Managing Director of Investment Banking at Westwind Partnersand Stifel Nicolaus. Non-Executive Director of Bellevue Gold (ASX200).27 years' experience in corporate advisory and public company management since commencing his career and qualifying as a chartered accountant.Involved in the financial management of mineral and resources focused public companies serving on the board and in the executive management teams. Founder and Previous Managing Director and current Non-Executive Director of Bellevue Gold (ASX 200) and previous founder and Managing DirectorGryphon Minerals (ASX 200).Experienced geologist with a proven track record of mineral discoveries, corporate growth, international investor relations and creating shareholder wealth. Previously Managing Director of MincorResources NL (ASX: MCR) and Executive Director of ASX200 nickel company Western Areas (ASX: WSA). Held senior executive roles within Brambles Group, ANZ Investment Bank and WMC Resources.David is a CPA with more than 30 years’ experience in accounting, operations, capital markets and finance across the resources and industrial sectors. Currently Executive Chairman of Cygnus Metals (ASX: CY5) and Non-Executive Director of RameliusResources(ASX: RMS). David SouthamKevin TomlinsonMichael NaylorSteve ParsonsRenée Roberts Managing DirectorExecutive DirectorIndependentNon-Executive Director Advisor to the Board Previously held senior positions with Northern Star Resources, Newmont Mining andBarrick Gold.Geologist with over 28 years’ experience. Extensive gold industry experience in Australia and North America spanning regional and near mine exploration, production geology, engineering planning, mine building and corporate development.Previous positions include Kalgoorlie district geology manager for Barrick Gold and Principal Geologist –Business Development for Northern Star Resources. Chief Executive OfficerDarren Cooke Independent Non-Executive Chair
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ASX |TSX FFM 20 Exceptional Management and In-Country Team 2020 Management team with in-depth Canadian mining expertise Metallurgy expert with over 17 years’ experience in mining projects globally, across various engineering, construction, operational, & technical leadership roles. Almost 15 years with Ausenco Engineering, in their Australian, Canadian & USA offices, across several engineering, study management & commissioning roles, most recently as VP of Technical Services, responsible for Cu-Au metallurgical technical governance & innovation across all process engineering in North America, and NI 43-101 delivery. Former VP investor relations at G Mining Ventures Corp (TSX:GMIN).Director of the Prospectors & Developers Association of Canada (PDAC). Held senior technical, financial and strategic positions at HudbayMinerals Inc (NYSE:HBM), global investment fund Resource Capital Funds and engineering groups Hatch andGolder Associates as well as investment banking at CIBC Capital Markets. Ms Liu-Ernsting is also experienced in areas of corporate board audit, compensation, technical and special committees. General Counsel and Company SecretaryChief Financial OfficerChief Corporate Development Officer Juan Gutierrez Bonnie MatthewsTabatha LeBlanc Gus SimbanegaviChen SunLaura Noonan-Crowe Vice President Operations Vice President Human ResourcesVice PresidentEnvironment & CommunityGroup Chief Geologist Jessie Liu-Ernsting MsSun has over 15 years’ experience in stewarding business growth and overseeing accounting, corporate finance and financial management functions in the resources industry. Chen was previously CFO for nickel producer MincorResources NL, for 7 years until the company was taken over by WylooConsolidated Investments Pty Ltd in 2023.MsSun holds a Bachelor of Commerce from Curtin University and is a member of the CPA Australia and the Australian Institute of Company Directors. A lawyer with 18 years’ experience in the resources industry. MsNoonan-Crowe was the General Counsel and Company Secretary, Australia for TSX-listed gold producer, Karora Resources Inc., before its merger with Westgold.MsNoonan-Crowe previously held senior legal roles at global gold mining majors, Northern Star Resources Limited, where she also served as Company Secretary to certain Committees of the Board of Directors,and Gold Fields Limited. MsNoonan-Crowe commenced her career at Minter Ellison Lawyers. Over 17 years’ experience in a diverse range of mining projects globally. Over 6 years with Northern Star Resources as Geology Superintendent where he was involved in discoveries at Jundeeand Yandaltotalling over 1Moz Gold.Extensive experience from exploration and resource development to production and resource estimation in commodities including gold, nickel and copper. 25 years’ ESG experience in North America, with a proven track record of achieving social and government approvals for companies including TransCanada & Alliance Pipelines, Marathon PGM Corporation, Sibanye-Stillwater& Generation Mining. Oversaw the management & delivery of critical environmental approvals & community agreements including successfully obtaining approval for an Environmental Assessment conducted by a Joint Federal-Provincial Review Panel in Ontario. Over 20 years’ experience in Business Management and HR from previous positions with Tata Steel Minerals Canada and Grey Rock Miningas well as positions with the Governments of NL and of Nunavut. Currently sits on the board of Canadian Manufactures and Exporters (CME) in NL, is the current Chairperson of the NL CME HR Committee, and is also on the board of Women in Resource Development for Newfoundland and Labrador. Experienced Mining Engineer with > 25 years of mine operations management & project development. Previously COO & Director of AIM listed Bluerock Diamonds where he was instrumental in the feasibility, development & construction of a 1.0Mtpa diamond mine & processing plant. Experienced across a range of commodities including Gold, Platinum, Copper, Nickel, Zinc & Diamonds from his time in senior executive roles at companies such as Aquarius Platinum Mines, Vedanta Zinc International& Zimplats Platinum Mines. Jared DietrichVice PresidentMetallurgy
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ASX |TSX FFM Decreasing mine grades Increased time and cost to production Social License more challengingReduced discovery rates Orebodies getting deeperPermitting hurdles 21 Copper Supply Shortages Forecast Indefinitely Nearly twice the amount of copper mined in human history is required in the next 27 years to achieve net zero by 20501,2 1. Source: https://energyminute.ca/infographics/the-volume-of-2050-net-zero-copper-demand/2. Source: modified from ‘The Future of Copper’, S&P Global Report, July 2022 Global Mining Copper Issues:
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ASX |TSX FFM 22 Why Green Bay is well positioned for the futureThe ingredients are already in place for a substantial Copper Mine Mineral Deposit Underground Access Processing & Concentrate Approvals & Permitting Surface Infrastructure Large scale (24.4Mt M&I + 34.6Mt Inf) and High-Grade (2% CuEq) Copper-Gold Deposit, rapidly growing through drilling & exploration with camp-scale potential for discovery A WORLD-CLASS VMS SYSTEM UNDERPINS THE MINE Workshops, water treatment plant, offices etc., low-cost green Hydro Power runs through the property, 365-day access to site via sealed highways, well serviced local communities EXISTING INFRASTRUCTURE SUPPORTS A LARGE OPERATION Dewatered underground mine with access to 950m decline and shaft, +20km of historical development in place provides a low-cost foundation for drilling and mining, 6 rigs and a jumbo operating underground OPERATIONAL UNDERGROUND MINE Long history of concentrate production. Excellent recoveries of >98% Copper, conventional processing flow (crush, grind, float). No deleterious elements. Historic concentrate grades consistently between 27% and 29% copper. Access to a deep-water port 6km from the mine. PROVEN SIMPLE METALLURGY & HIGH-QUALITY CONCENTRATE ENVIRONMENTALLY APPROVED WITH A CLEAR GROWTH STREATEGYInitial upscaled restart of production, with construction of TSF on site and new plant with throughputcapacity of up to 1.8Mtpa,1has been conditionally released from further environmental and socio-economic assessment. 1. Green Bay has been conditionally released from further environmental assessment for an initial upscaled restart mining operationinvolving a plant with a throughput capacity of up to 1.8Mtpa. Investors are cautioned that the plant capacity is a technical specification forming part of the environmental submission and not a forecast of the estimated production of the mining operation. The mining operation’s forecast production will not be estimated until such time as the Company has prepared and announced its Scoping Study/Preliminary Economic Assessment. Should a larger scale case be adopted than contemplated by the environmental release, further assessment will be required by government agencies.
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ASX |TSX FFM 23 Scarcity of Quality Copper and Gold ProjectsGold & Copper ProjectsMineral resource pre-production Held by Public Companies with a Market Cap. > US$150 m In Tier 1 Jurisdiction (USA, Canada, Chile, and Australia) 2,194Attractive Commodity Mix Owned by a Publicly Company Leading Jurisdiction Total capital already spent >US$100 m1Significant Capital Already Spent Resource Grade >1.5% Copper2High Grade Owned by DeveloperNot Owned by a Producer 1,525 261 57 6 Note: Market data as at 24 July 2025.1Total capital investment is calculated as the sum of all disclosed capital cost figures. Capital costs are sourced by S&P Global Intelligence from company disclosure where available.2Cu grades of assets based on S&P data where available.3 Projects Projects Projects Projects Projects 1FireFly Metals
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ASX |TSX FFM 24 Ming underground mine Consistent high-grade copper and gold ShaftPortal Limit of historic 30Mt Resource Broad Cu Footwall Zone High Grade Cu -Au VMS Zones Previously 1.5km of Strike FireFly Drilling & Mining (October 2023 –September 2025)115,770m 805 Exploration Drive2,335m of Development Mined High-Grade VMS Extended >600m to date Cu Assays>0.5% Mineralisation starts 250m below surface 500m •Underground development•6x drill rigs •VMS zone high-grade copper and gold remains open:o10.7m @ 12.2% CuEq(VMS)o17.3m @ 7.4% CuEq(VMS) •FWZ copper zone has scale and grade and remains open:o86.3m @ 3.7% CuEq(FWZ)o58.2m @ 3.1% CuEq(FWZ) •Step-out growth drilling ongoing•Infill drilling to extract maximum value Higher-quality M&I Resource used in mining studies
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ASX |TSX FFM 25 Ming underground mine Consistent high-grade copper and gold ShaftPortal Limit of historic 30Mt Resource Broad Cu Footwall Zone High Grade Cu -Au VMS Zones Previously 1.5km of Strike FireFly Drilling & Mining (October 2023 –September 2025)115,770m 805 Exploration Drive2,335m of Development Mined High-Grade VMS Extended >600m to date Cu Assays>0.5% Mineralisation starts 250m below surface 500m •Underground development•6x drill rigs •VMS zone high-grade copper and gold remains open:o10.7m @ 12.2% CuEq(VMS)o17.3m @ 7.4% CuEq(VMS) •FWZ copper zone has scale and grade and remains open:o86.3m @ 3.7% CuEq(FWZ)o58.2m @ 3.1% CuEq(FWZ) •Step-out growth drilling ongoing•Infill drilling to extract maximum value Higher-quality M&I Resource used in mining studies
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ASX |TSX FFM 26 Drilling to Unlock Value -Studies and Growth ShaftPortal Broad Cu Footwall Zone High Grade Cu -Au VMS Zones 2.3 km of strike and remains OPEN Quality drilling ready for Feasibility Studies 2026 High-Grade VMS Extended >600m to date Step-out drilling underway Total Drilling & Mining (2010 –September 2025)318,510m Limit of Oct 202450Mt @ 2% CuEqResource Cu Assays>0.5% Mineralisation starts 250m below surface 500m 12.4m @ 6.8% CuEq 25.8m @ 5.1% CuEq INTERSECTIONS OUTSIDE OF 60Mt RESOURCE An additional 100,000m of underground drilling planned in 2025-2026
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ASX |TSX FFM 8 Drill RigsShare Price 2727 A$0.373 A$1.202 Market Cap~A$70M1 ~A$819M2 56km2 346km2 0 Drill RigsDrillingResourceLand Holding OCTOBER 2023SEPTEMBER 2025 202,740m (historic) 318,510m + 224% + 1,070% + 57% + 51% + 518% Exceptional Discovery Potential Rapid low-cost growth through the drill bit = a proven strategy for value creation Outstanding transformation in less than two years 1. As at 31 August 2023 2.As at 3 September 2025 3.Capital raise share price to acquire the Green Bay Project, after adjusting for a 15:1 consolidation in December 2023. Referto ASX announcement dated 31 August 2023 4. Prepared in accordance with Canadian National Instrument 43-101. This is a foreign estimate and has not been reported in accordance with JORC 2012. A competent person has not done sufficient work to classify as a mineral resource in accordance with JORC 2012 and it is uncertain that following further evaluation and exploration work that the foreign estimate will be able to be reported as a mineral resource under the JORC Code 2012. See the Company’s ASX Announcement dated 31 August 2023 for further information regarding this foreign estimate. 5. Metal equivalents calculated using a copper price of US$8,295/t, gold price of US$1,912/oz and a silver price of US$22.59/oz.Individual grades for the metals are set out ASX announcement dated 31 August 2023. Copper equivalent was calculated based on the formula CuEq(%) = Cu(%) + (0.74112 x Au(g/t)) + (0.00876 x Ag(g/t)). No metallurgical recovery factors have been applied to the in-situ resource. It is the Company’s view that all elements in the copper equivalent calculation have a reasonable potential to be recovered and sold.6.Refer to ASX announcement dated 29 October 2024 and Appendix 1 for details of the Mineral Resource Estimate and metal equivalents. 7. Percent increase calculated using the formula ((Final Value -Starting Value)/ Starting Value) x 100. 59Mt @ 2% CuEq6 M&I: 24.4Mt @ 1.9% CuEqInferred: 34.6Mt @ 2.0% CuEq39Mt @ 2% CuEq4,5 M&I: 24.4Mt @ 1.9% CuEqInferred: 34.6Mt @ 2.0% CuEq
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ASX |TSX FFM 28 A Transformational Acquisition for FireFly ShaftPortal 102m @ 1.7%CuEq Limit of Previous 30Mt Resource Drilling at 20 October 2023(On Acquisition by FireFly)202,740m Broad Cu Footwall Zone High Grade Cu -Au VMS Zones 1.5km of Strike Cu Assays>0.5% Mineralisation starts 250m below surface 500m •No drill rigs•Poor drill spacing in upper part of the mine•Historical mining focused on high-grade VMS •Not focused on broad FWZ•Only 2 drill intersections beyond the mineral resource:oDemonstrated that both the VMS and FWZ styles of mineralisation continued +400m beyond mine workings
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ASX |TSX FFM Supplementary Information•Appendix 1. Green Bay Mineral Resources•Appendix 2. Green Bay Project –Further Information•Significant Value Drivers Throughout 2025 “5 in 2025”•Existing Infrastructure = Lower Capex and Rapid Start-up•Deposit Geological Model•Mineralisation Styles•Appendix 3. 2024 Copper Production Data References(Slide ‘A Lack of copper opportunities on the ASX & TSX) 29
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ASX |TSX FFM Appendix 1 –Green Bay Mineral Resources1 TONNESCOPPERGOLDSILVERCuEq(Mt)Grade(%)Metal(‘000 t)Grade(g/t)Metal(‘000 oz)Grade(g/t)Metal(‘000 oz)Grade(%)Measured4.71.7800.3402.33401.9Indicated16.81.62700.31502.41,3001.8TOTALM&I21.51.63400.31902.41,6001.8Inferred28.41.74800.43403.33,0002.0 Ming Deposit Mineral Resource Estimate Little Deer Deposit Mineral Resource Estimate GREEN BAY TOTAL MINERAL RESOURCE ESTIMATE TONNESCOPPERGOLDSILVERCuEq(Mt)Grade(%)Metal(‘000 t)Grade(g/t)Metal(‘000 oz)Grade(g/t)Metal(‘000 oz)Grade(%)Measured--------Indicated2.92.1620.193.43202.3TOTALM&I2.92.1620.193.43202.3Inferred6.21.81100.1102.24301.8 TONNESCOPPERGOLDSILVERCuEq(Mt)Grade(%)Metal(‘000 t)Grade(g/t)Metal(‘000 oz)Grade(g/t)Metal(‘000 oz)Grade(%)Measured4.71.7800.3452.33401.9Indicated19.71.73300.21542.61,6001.9TOTALM&I24.41.74000.31992.52,0001.9Inferred34.51.76000.33483.13,4002.01.FireFlyMetalsLtdMineralResourceEstimatefortheGreenBayCopper-Goldproject,incorporatingtheMingDepositandLittleDeerComplex,arereportedinaccordancewithJORCCode2012andNI43-101;MineralResourceshavebeenreportedata1.0%coppercut-offgrade;MetalequivalentsfortheMineralResourceEstimatehavebeencalculatedatacopperpriceofUS$8,750/t,goldpriceofUS$2,500/ozandsilverpriceofUS$25/oz.Metallurgicalrecoverieshavebeensetat95%forcopperand85%forbothgoldandsilver.CuEq(%)=Cu(%)+(Au(g/t)x0.82190)+(Ag(g/t)x0.00822).Totalsmayvaryduetorounding.ForfurtherdetailsrefertoASXannouncementdated29October2024orthetechnicalreportsfiledonSEDAR+. 30
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ASX |TSX FFM Ming Mine Mineral Resource Sensitivity - 10,000,000 20,000,000 30,000,000 40,000,000 50,000,000 60,000,000 70,000,000 80,000,00010.90.70.5 M&IInf erredMing Mine Resource Tonnes Cut-off Grade (Cu %) The Ming Mine1is an even larger project at lower cutoff grades Reported COG (1%)436kt @ 1.7% CuEq M&I 396kt @ 1.84% CuEq M&I 503kt @ 1.6% CuEq M&I 551kt @ 1.4% CuEq M&I702kt @ 1.7% CuEq Inferred 667kt @ 1.8% CuEq Inferred 612kt @ 2.0% CuEq Inferred 576kt @ 2.0% CuEq InferredSensitivity 1. Note that cut-off data in the chart is for the Ming mine only and does not incorporate the Mineral Resource at the Little Deer deposit 31
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ASX |TSX FFM Appendix 2 –Green Bay Project Further Information Twin boom jumbo at the Ming Mine32
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ASX |TSX FFM Significant Value Drivers Throughout 2025 “5 in 2025”Resource Growth New Discoveries Global Scale Tier 1 Jurisdiction Upgrades Upcoming mining studies are expected to make it increasingly clear that Green Bay is a large, long-life project with a substantial production profileand robust economics ConvertingInferred Resources to Measured & Indicated; M&I tonnesare worth morethan Inferred, representing a huge opportunity to create value Continue increasing the copper-gold Mineral Resource by extending the known mineralisation in both the upper high-grade VMS as well as the broad footwall copper rich zone Drilling will test compelling new targets, including potential in-mine repetitions, mine extensions, adjacent historic mines and greenfieldsopportunities; These all have scope to create substantial, rapid value Highly favourablelocation, which delivers security of tenure, extensive infrastructure, accessto hydro power, critical minerals funding initiatives and deep pools of investment capital33 1 2 3 4 5
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ASX |TSX FFM Green Bay Project Exploration Targeting •Limited exploration has been conducted in the past 40 years –a key opportunity•Downhole geophysics is a powerful exploration tool for this type of mineralisation… and rarely been used by previous company•Because the mine was hand-to-mouth, there has been limited exploration outside of the known mineralisedzones Ming North Ming South18061807 Volcanogenic Massive Sulphide(VMS) MineralisationStringer / Disseminated Mineralisation(Feeder) Lower Footwall Zone (LFWZ) Magmatic Fluids HydrothermalFluids LFWZ position untestedSulphidepotential in structures Parallel VMS zones untested Lower temp zones (Zn-Pb-Ag rich) not explored for KEY TARGETS•Conduct downhole and surface electrical geophysical programs•Drill test for parallel VMS mineralisationhorizons•Test for LFWZ-style stringer mineralisationbeneath known VMS zones•Explore for Zinc-Silver rich lateral zones within the system EXPLORATION OPPORTUNITY 1. Image Source –Modified from Piloteet al (2016) paper titled ‘Volcanic and Structural Reconstruction of the Deformed and Metamorphosed Ming Volcanogenic MassiveSulfide Deposit, Canada –Implications on Ore Nature and Geometry’ 34 MING DEPOSIT MODEL HIGHLIGHTS EXCEPTIONAL EXPLORATION UPSIDE1
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ASX |TSX FFM Mineralisation Styles86.3m @ 3.7% CuEq and58.2m @ 3.1% CuEq(True Widths) Broad Copper Footwall ZoneUpper Copper-Gold VMS High Grade •MUG24-079 is the best hole drilled by FireFly to date with thick consistent zones of high-grade copper and gold•Grade seems to be increasing down plunge•This hole has the highest-grade footwall zone encountered to date (5.3% CuEq over 27.6m) •High-grade upper VMS has a well-developed footwall stringer zone directly underneath at the northern end of the Resource•Other recent results demonstrate high grade is continuing 58.2m @ 3.1% CuEq (2.4% Cu & 0.7g/t Au) in hole MUG24-083 (~ true thickness) 35
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ASX |TSX FFM Appendix 3–2024 Copper Production DataPROPERTYCURRENT OWNER2024 Cu Metal PRODUCTION (Kt) SOURCE DATAAranzazuAura Minerals16.7December 2024 MD&A Quarterly Report. https://api.mziq.com/mzfilemanager/v2/d/7e088be0-b725-4cba-ab5e-4969a4ac92af/4f2b0044-b171-0521-21e7-9da06007660e?origin=1Capricorn29Metals2.0December 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20250129/pdf/06dxbk4hk33h79.pdfCaraibaEroCopper35.42024 Annual Report. https://erocopper.com/site/assets/files/6620/2024_ero_copper_annual_report.pdfCobarMAC Copper41.12024 Annual Report. https://s202.q4cdn.com/908723817/files/doc_financials/2024/ar/2025-03-28-Annual-Report.pdfConstanciaHudbay12.5December 2024 MD&A Report. https://s23.q4cdn.com/405985100/files/doc_financials/2024/q4/MDA225.pdfCopper MountainHudbay26.4December 2024 MD&A Report. https://s23.q4cdn.com/405985100/files/doc_financials/2024/q4/MDA225.pdfCozaminCapstone24.9December 2024 MD&A Report. https://capstonecopper.com/wp-content/uploads/2025/02/2024-Capstone-Copper-Corp-Year-end-Report-to-Shareholders.pdfEloiseAIC Mines12.4December 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20250128/pdf/06dw2svwvjv6yf.pdfErnest HenryEvolution49.2December 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20250122/pdf/06dqwfvw5sx16c.pdfGibraltarTasekoMines47.9December 2024 Quarterly Report. https://www.tasekomines.com/_resources/financials/Q4-2024.pdfGolden GroveAIC Mines21.9December 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20250129/pdf/06dxbk4hk33h79.pdfHudson Bay 777Hudbay12.5December 2024 MD&A Report. https://s23.q4cdn.com/405985100/files/doc_financials/2024/q4/MDA225.pdf\JiamaChina Gold47.9December 2024 Report. https://www.chinagoldintl.com/_resources/financials/2025/Results-Announcement-For-The-Year-Ended-December-31-2024.pdf?v=090805MantosBlancosCapstone44.6December 2024 MD&A Report. https://capstonecopper.com/wp-content/uploads/2025/02/2024-Capstone-Copper-Corp-Year-end-Report-to-Shareholders.pdfMantoverdeCapstone (70%)57.7December 2024 MD&A Report. https://capstonecopper.com/wp-content/uploads/2025/02/2024-Capstone-Copper-Corp-Year-end-Report-to-Shareholders.pdfMATSASandfire55.1December 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20250130/pdf/06dysxt1x3f6ws.pdfMinera Valle CtrlAmerigo Resources29.32024 Operational Results. https://www.amerigoresources.com/_resources/news/nr-20250114.pdfMount MilliganCenterra 24.6December 2024 Quarterly Report. https://s205.q4cdn.com/276554285/files/doc_financials/2024/q4-24-mdna.pdfMount PolleyImperial Metals16.2December 2024 MD&A Report. https://imperialmetals.com/assets/docs/2024-Q4-MDA.pdfMt ColinAerisResources5.8June 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20240730/pdf/0662h9rtpd8bk6.pdfDecember 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20250131/pdf/06f11vctrh6z3z.pdfNorthparkesEvolution (80%)35.8December 2024 Quarterly Report. https://stocknessmonster.com/announcements/evn.asx-2A1574394/Nova-BollingerIGO 8.2June 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20240730/pdf/06621z0f9gymd7.pdfDecember 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20250130/pdf/06dz10vw3sjhz2.pdfPinto ValleyCapstone57.3December 2024 MD&A Report. https://capstonecopper.com/wp-content/uploads/2025/02/2024-Capstone-Copper-Corp-Year-end-Report-to-Shareholders.pdfSierra GordaSouth32 (45%)146.4June 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20240722/pdf/065sly6fvqmnbw.pdfDecember 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20250120/pdf/06dnpp5mzbg3t4.pdfTrittonAerisResources18.6June 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20240730/pdf/0662h9rtpd8bk6.pdfDecember 2024 Quarterly Report. https://announcements.asx.com.au/asxpdf/20250131/pdf/06f11vctrh6z3z.pdfTucumaEroCopper8.22024 Annual Report. https://erocopper.com/site/assets/files/6620/2024_ero_copper_annual_report.pdf 36