FireFly raises A$190m for development and resource growth

Proceeds will be used for early works, long-lead items and resource drilling

FireFly has received firm commitments to raise ~ A$180m (before costs) via an Australian institutional placement and Canadian bought deal financing

The equity raising was strongly supported by several large, long-only, new and existing institutional investors based in Australia and overseas

FireFly also intends to undertake a non-underwritten Share Purchase Plan (SPP) to raise up to an additional A$10m (before costs) at the same offer price as the Australian institutional placement of A$1.78 per share

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PERTH, Australia, Aug. 25, 2026 (GLOBE NEWSWIRE) -- FireFly Metals Ltd (ASX: FFM, TSX: FFM) ( FireFly or Company ) is pleased to announce a highly successful equity raising which will bolster the Company’s balance sheet as it progresses towards project development while maintaining an aggressive exploration program.

FireFly has received firm commitments for a A$180 million (before costs) equity raising via the issue of up to approximately 101.1 million new fully paid ordinary shares in the Company ( New Shares ) at a price of A$1.78 (C$1.76) 1 per New Share ( Offer Price ).

Following release of the Preliminary Economic Assessment ( PEA ) 2 highlighting a technically and economically robust project, the Company intends to use the funds to continue de-risking, advancing and growing its Green Bay Copper-Gold Project.

This includes early project works, procurement of long-lead capital items, advancing a Feasibility Study for the 1.8Mtpa base case scenario and a Pre-Feasibility Study on the larger 4.6Mtpa alternative scenario, and further Resource growth ahead of a Final Investment Decision by mid-2027.

FireFly Managing Director Steve Parsons said: “The strong demand for the raising reflects Green Bay’s s