Mr. Steve Parsons reports

FIREFLY FILES FINAL SHORT FORM PROSPECTUS FOR CANADIAN BOUGHT DEAL OFFERING

In connection with its previously announced bought deal offering, Firefly Metals Ltd. has filed a final short form prospectus dated Dec. 12, 2025, to qualify the distribution of 19,230,770 ordinary shares of the company (offered shares) at a price of $1.56 per offered share (offering price) and an additional 2,884,615 ordinary shares at the offering price pursuant to an overallotment option (offering).

The offering is expected to close on or about Dec. 17, 2025, subject to customary closing conditions.

Access to the final prospectus and any amendment is provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment. The final prospectus is accessible on SEDAR+. An electronic or paper copy of the final prospectus and any amendment may be obtained, without charge, from BMO Nesbitt Burns Inc. by phone at 905-791-3151, extension 4312 or e-mail at torbramwarehouse@datagroup.ca by providing the contact with an e-mail address or address, as applicable.

In accordance with Australian Securities Exchange Listing Rule 15.7.1, this announcement was lodged with the ASX Market Announcements Office outside of its hours of operation, at the same time as it was released in Canada and lodged in Canada on SEDAR+.

About Firefly Metals Ltd.

Firefly Metals is an emerging copper-gold company focused on advancing the high-grade Green Bay copper-gold project in Newfoundland, Canada. The Green Bay copper-gold project currently hosts a mineral resource prepared and disclosed in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (Joint Ore Reserves Committee Code 2012) and Canadian National Instrument 43-101 -- Standards of Disclosure for Mineral Projects of 50.4 Mt (million tonnes) of measured and indicated mineral resources at 2.0 per cent for 1,016,000 tonnes copper equivalent (CuEq) and 29.3 Mt of inferred mineral resources at 2.5 per cent for 722,000 t CuEq. The company has a clear strategy to rapidly grow the copper-gold mineral resource to demonstrate a globally significant copper-gold asset.

We seek Safe Harbor.