FireFly completes equity raising

Gross proceeds of ~A$180M (before costs)

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PERTH, Australia, Sept. 03, 2026 (GLOBE NEWSWIRE) -- FireFly Metals Ltd (ASX: FFM, TSX: FFM) ( FireFly or the Company ) is pleased to announce that it has completed the equity raising announced on 25 and 26 August 2026 (24 and 25 August 2026 in Canada) and comprising the following ( Equity Raising ):

A$150 million (~C$149.0 million) 1 institutional placement at a price of A$1.78 per share ( ASX Placement ), which completed on 2 September 2026 (1 September 2026 in Canada); and

~A$30 million 2 (~C$29.6 million) bought deal offering at a price of C$1.76 per share ( TSX Bought Deal ), which completed on 3 September 2026.

The Company has now received gross proceeds from the Equity Raising of ~A$180M (~C$178.6M) (before costs).

TSX Bought Deal

Pursuant to the most recently completed aspect of the Equity Raising, the TSX Bought Deal, FireFly issued 16,820,454 ordinary shares ( Ordinary Shares ) pursuant to the terms of an underwriting agreement dated 3 September 2026 ( Underwriting Agreement ) between the Company and BMO Nesbitt Burns Inc. acting as lead underwriter and sole bookrunner and RBC Dominion Securities Inc., CIBC World Markets Inc. and Canaccord Genuity Corp. (collectively, the Underwriters ).

The Ordinary Shares issued in connection with the TSX Bought Deal were issued pursuant to the Listed Issuer Financing Exemption available under Part 5A of National Instrument 45-106 – Prospectus Exemptions as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption and will not be subject to a statutory hold period in Canada.

Share Purchase Plan

In addition to the Equity Raising, FireFly intends to offer to eligible shareholders who were registered as a holder of Ordinary Shares as at 5:00pm (AWST) on 24 August 2026 ( Record Date ) and