Minnie Springs Excessive Grade Cu-Mo Porphyry Concentrating on

Highlights:

• Binding Choice Settlement executed for the acquisition of as much as 80% of York Harbour Venture through a staged earn-in (Acquisition).
• York Harbour is a Cyprus-style volcanogenic large sulphide (VMS) exploration undertaking, positioned 180km west-south-west of FireFly Metals Ltd (ASX:FFM) Inexperienced Bay Copper Venture.
• Small scale historic underground manufacturing between 1898 and 1913 resulted in 100,000 tonnes mined at 3-12% Cu, 7% Zn and 1-3oz/t Ag.
• Solely shallow exploration (<300m depth) accomplished, with historic exploration restricted to 2 key areas, the outdated York Harbour mine and the Quantity 4 Pond goal with a number of important intercepts embrace:
  • 29.0m at 5.25% Cu, 9g/t Ag from 147m (YH21-24 H Zone)
    • Together with 3.24m at 9.54% Cu, 3.5% Zn, 10g/t Ag from 167.8m
  • 24.3m at 2.77% Cu 9.3% Zn, 18g/t Ag from 93m (YH21-18 D Zone)
  • 22.56m at 4.34% Cu from 68.88m (Y-8)
  • 24.54m at 2.14% Cu, 12.78% Zn from 21.03m (LU133)
  • 14.88m at 3.08% Cu from 30.88m (LU120)
  • 13.58m at 2.98% Cu, 7.23% Zn, 21g/t Ag from 115.34m (YH22-61)
  • 6.8m at 6.34% Cu, 7.45% Zn from 82.51m (4-48)
  • 8.97m at 4.73% Cu, 10.19% Zn, 23g/t Ag from 124.13m (YH22-107)
  • 7.17m at 6.56% Cu from 42.21m (LU136)
    • Together with 2.29m at 15.88% Cu from 42.21m
  • 6.71m at 4.16% Cu, 10.5% Zn from 76.2m (4-44)
  • 9.87m at 2.50% Cu, 14.41% Zn from 22.22m (LU100)
  • 20.06m at 2.50% Cu, 6.33% Zn from 107.9m (YH21-20)
  • 11.86m at 4.83% Cu, 5.57% Zn from 18.04m (LU96)
  • 11.25m at 2.67% Cu, 9.12% Zn, 20g/t Ag from 111.78m (YH22-82)
    • Together with 4m at 4.76% Cu, 2.17% Zn and 25g/t Ag from 115.78m
  • 19.38m at 1.76% Cu, 12.46% Zn, 19g/t Ag from 166.62m (YH21-22 H Zone)
    • Together with 7.14m at 2.39% Cu, 29.09% Zn and 47g/t Ag from 166.62m
• No property-wide Airborne EM survey ever flown throughout York Harbour, offers speedy potential for figuring out related VMS style-systems throughout the 47.25km2 contiguous land bundle.
• In reference to the Acquisition, FTL proposes to lift roughly $1.57m (earlier than prices) by means of a placement to strategic traders along with a non-renounceable entitlement problem to current eligible shareholders.

Determine 1: York Harbour Venture Regional Location Plan, Newfoundland, Canada

Additional to the above, Firetail Possession has elevated to 70% of the Picha and Charaque Copper Tasks, via acquisition of Kiwanda S.A.C.

• Picha Copper Venture, Peru (“Picha”): completion of maiden ~5,000m diamond drill (“DD”) program with assay outcomes from the final holes nonetheless pending.
• Outcomes included 13m @ 2.81% Cu and 27.1g/t Ag from 2m (cut-off 0.1% Cu), and 15.5m @ 0.72% Cu, 130g/t Ag 1.92% Pb and 0.16% Zn from 3.25m. Firetail confirmed the mineralised construction extends over 170m in strike size and is open in all instructions.
• Vesting Circumstances for the Firm’s acquisition of an extra 10% of the issued share capital of Kiwanda S.A.C. now happy with the Stage 1 Efficiency Milestone being achieved.

Government Chairman, Brett Grosvenor, commented:

“The Firetail Board started a strategic course of over 12 months in the past of figuring out alternatives in a rising copper market. The fruits of this course of is the acquisition of the York Harbour Venture, which we consider offers an distinctive alternative to create worth for our shareholders.

“Our intention was to seek out strategic copper belongings in world class places, which might be complementary to our current portfolio of battery metals initiatives. We see York Harbour ticking all of those packing containers. This acquisition broadens our copper publicity to enhance the early-stage copper undertaking we’re at the moment exploring in Peru.

“York Harbour presents a complicated brownfield alternative in a confirmed district for copper mineralisation. The near-term potential to outline a mineral useful resource and develop the footprint is evident from our due diligence, and our group could be very excited to get on the bottom and begin the exploration program.

Non-Government Director, Simon Lawson, commented:

“The Venture is a complicated high-grade copper-focussed alternative for Firetail to get entangled in at simply the appropriate time. The earlier historical past of copper mining on the undertaking and various current important copper-zinc-silver drill hits makes this a “walk-up” undertaking of fantastic exploration potential.

The historic drill intercepts are all shallow, high-grade, differ in width and most significantly are large to disseminated base metallic sulphides in simply the appropriate rocks! The earlier drilling, restricted floor outcrop mapping and historic mining info offers us with the idea of a concentrating on mannequin to get on-ground and quickly drill take a look at the extents of current high-grade copper mineralisation, in addition to seek for new large sulphide positions and doubtlessly make new discoveries!

“Extremely the Venture has not had a property-wide airborne electromagnetic (“EM”) survey performed to this point. Sometimes large sulphide, significantly copper initiatives like this, have already been extensively examined with EM and all the precedence targets drill-tested. This isn’t the case at York Harbour and represents a significant alternative for Firetail to be the primary to conduct a contemporary high-resolution airborne EM survey. This EM survey will profile current targets and purpose to establish new targets throughout the property. Targets will probably be assessed and ranked primarily based on their signature, measurement, place, and total geological advantage and be prioritised for fast drill testing!

“This acquisition offers shareholders with publicity to drill-proven high-grade copper-zinc-silver mineralisation inside a district of considerable base and treasured metals mineralisation. That is an thrilling superior high-potential alternative in an excellent jurisdiction, and we look ahead to offering our shareholders with additional exploration updates publish completion of the transaction.”