ANNOUNCEMENT 01 March 2021

Firebird Metals set to list on ASX in March after receiving conditional listing approval

New manganese-focused company to unlock the value of the Oakover Manganese Project

Firefly Resources Ltd (Firefly) (ASX: FFR) is pleased to advise that the ASX has now provided conditional approval for the listing of Firebird Metals Ltd (Firebird). Firebird is a wholly-owned subsidiary of Firefly that was established as a new manganese focused company.

Subject to the satisfaction of standard ASX conditions, it is expected that the Firebird shares will commence trading on the ASX during the week commencing 15th March 2021. The actual date will be advised once confirmed by the ASX. The ASX ticker code for Firebird upon listing will be FRB.

The directors of Firefly would like to remind Firefly shareholders of the upcoming record date for participation in the Firebird IPO via the distribution of 25M shares, pro-rata to Firefly shareholders, who are registered at 5pm WST on Friday 5th of March 2021.

Based on the current Firefly issued capital, each eligible Firefly shareholder registered at that date will receive approximately 1 share in Firebird (FRB) for every 12 shares held in Firefly (FFR).

The directors of Firefly also advise that, in accordance with the constitution of Firebird, any new Firebird shareholder on listing who holds an un-marketable parcel of shares (that is less than 2,500 shares) will have those shares sold free of commission by Euroz Hartleys Securities Ltd and the proceeds will be remitted to those shareholders by Automic, the company's share registry.

Full details of the unmarketable parcel clean-up process was set out in the earlier Notice of Meeting to Firefly shareholders, and also the Firebird prospectus.

Firefly Managing Director, Simon Lawson, said: "Firebird takes the Oakover Manganese Project, a non-core Firefly project with an established historic resource that will represent a low market capitalisation on IPO when compared to ASX listed peers with manganese projects located nearby. The successful demerger and IPO of Firebird creates a standalone ASX-listed company with an EV of just over $10 million, offering huge upside as it unlocks the value of this high-quality manganese asset.

"With strong leadership team in place, a resource update and upgrade drilling already planned at Oakover, and two other incoming high-grade WA manganese projects all with huge exploration upside, Firebird will be very well positioned to launch and fly!"

Authorised by the board of Firefly Resources Ltd.

Investor Inquiries

Media Inquiries

Firefly Resources Limited

Read Corporate

08 9322 2338

Nicholas Read

info@fireflyresources.com.au

08 9388 1474

nicholas@readcorporate.com.au

www.fireflyresources.com.au

ASX: FFR Page | 1info@fireflyresources.com.au

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Firefly Resources Limited published this content on 01 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 March 2021 00:58:01 UTC.