PERTH, Australia, Nov. 02, 2025 (GLOBE NEWSWIRE) — FireFly Metals Ltd (ASX/TSX: FFM) (FireFly or Company) is pleased to announce the appointment of respected resource executive and company director Lynn Heywood as an independent non-executive director.
Ms Heywood, a member of CPA Australia, has significant experience as an international executive in the mining sector.
She most recently held a leadership role in international copper marketing at Rio Tinto Limited, and prior to that she was the CFO of a copper mine in the Rio Tinto portfolio.
Ms Haywood is currently a Non-Executive Director of Deterra Royalties Limited (ASX: DRR), Snowy Hydro Limited, Lotus Resources Limited (ASX: LOT), Advanced Energy Minerals, Denison Gas Limited and The Royal Flying Doctor Service of Australia (South East Division).
She previously served as a non-executive director of MAC Copper Limited prior to its acquisition by Harmony Gold Mining Company Limited for US$1.0 billion in October 2025, and was a non-executive director and chair of the audit committee of Arcadium Lithium plc prior to its acquisition by Rio Tinto in March 2025.
Ms Heywood was named NSW Business Woman of the Year in 2019 and was awarded a Medal of the Order of Australia in 2021 (OAM).
She holds an MBA from the University of Melbourne and is a graduate of the Australian Institute of Company Directors (SAIKD) and member of CPA Australia.
FireFly non-executive chairman Kevin Tomlinson said: “We are delighted to welcome Lynne to the Board. Her extensive experience in the copper sector and financial management will enable her to make a valuable contribution as the Company continues to progress towards becoming a copper and gold producer.
“Importantly, Lynne’s appointment also strengthens the independence and gender diversity of the board and appropriately expands its composition following a period of rapid growth and the recent addition of FireFly to the S&P/ASX 300 Index.”
FireFly Managing Director Steve Parsons said: “Lynn brings invaluable skills and experience to FireFly, particularly in the specialist area of copper marketing.
“As the copper and gold mineral resources at our Green Bay project continue to grow and economic studies continue, Lynn is ideally positioned to help us prepare for what will become an increasingly important aspect of our business.”
| Steve Parsons Control FireFly Metals LLC +61 8 9220 9030 |
Jessie Liu Ernsting Chief Development Officer FireFly Metals LLC +1 709 800 1929 |
Media Paul Armstrong Read Corporate +61 8 9388 1474 |
ABOUT FIREFLY METALS
FireFly Metals Ltd (ASX, TSX: FFM) is an emerging copper-gold company focused on advancing the high-grade Green Bay copper-gold project in Newfoundland, Canada. Green Bay Copper-Gold Project currently contains mineral resources prepared and disclosed in accordance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 edition (JORC Code 2012) and Canadian National Instrument 43-101 – Standards of Disclosure for Mining Projects (IS 43-101) from 24.4 million tons of measured and indicated resources at a rate of 1.9% for 460 thousand tons of CuEq and 34.5 million tons of inferred resources at a rate of 2% for 690 thousand tons of CuEq.. The Company has a clear strategy to rapidly expand its copper and gold mineral resources to demonstrate a globally significant copper-gold asset. FireFly has commenced a 130,000m diamond drilling program.
FireFly owns 70% of shares of high quality Pickle Crow's Golden Project in Ontario. Current estimated resource is 11.9 million tonnes at 7.2 g/t for 2.8 million ounces of goldwith exceptional discovery potential at a distance of 500 km.2 multi-apartment holding.
The company also owns a 90% stake in Limestone, vanadium and titanium mining project in Western Australia.
For more information about FireFly Metals Ltd, visit the ASX Platform (ASX:FFM), the company's website. www.fireflymetals.com.au or SEDAR+ at www.sedarplus.ca.
STATEMENTS OF CONFORMITY
Mineral Resource Estimation – Green Bay Project
The Green Bay Project mineral resource estimate referred to in this announcement and set out in Appendix A was first published in the ASX announcement dated 29 October 2024 entitled “Resource increases 42% to 1.2 million tonnes contained at 2% copper equivalent” and is also set out in the technical reports for the Ming Copper and Gold Mine entitled “National Instrument Technical Report 43-101, FireFly Metals Ltd., Ming Copper-Gold Project, Newfoundland” with an effective date of November 29, 2024 and the Little Deer Copper Project entitled “Technical Report and Updated Mineral Resource Estimate for the Little Deer Copper Deposits, Newfoundland, Canada” with an effective date of June 26, 2024, each of which is available on SEDAR+ at www.sedarplus.ca.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all significant assumptions and technical parameters underlying the mineral resource estimate in the original announcement continue to apply and have not changed materially.
Mineral Resource Estimation – Pickle Crow Project
The Pickle Crow Project mineral resource estimate referred to in this announcement was first published in the company's ASX announcement dated May 4, 2023 entitled “High-grade gold inferred resource to increase to 2.8 million ounces at 7.2 g/t” and is also set out in the Pickle Crow Project technical report entitled “NI 43-101 Technical Report on Mineral Resource Estimation of the Pickle Crow Gold Project, Ontario, Canada” with effective date effective November 29, 2024, as amended June 11, 2025, available on SEDAR+ at www.sedarplus.ca.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all significant assumptions and technical parameters underlying the mineral resource estimate in the original announcement continue to apply and have not changed materially.
STATEMENTS BY COMPETENT PERSON AND QUALIFIED PERSON
All technical and scientific information in this announcement has been reviewed and approved by the Group's Principal Geologist, Mr. Juan Gutierrez, BSc Geology (MSc), Geostatistics (Postgraduate Diploma), who is a Member and Chartered Member of the Australasian Institute of Mining and Metallurgy and a Fellow of the Australian Institute of Geophysicists. Mr. Gutierrez is a Competent Person as defined in the 2012 JORC Code and a Qualified Person as defined in NI 43-101. Mr. Gutierrez is an employee of FireFly Metals Ltd and holds FireFly Metals Ltd securities. Mr. Gutierrez has sufficient experience relevant to the type of mineralization and type of deposit being considered and the activities undertaken to qualify as a Competent Person as defined in the JORC Code 2012 and a Qualified Person as defined in NI 43-101. Mr. Gutierrez agrees to the inclusion in this announcement of matters based on his information in the form and context in which it is presented.
FORWARD-LOOKING INFORMATION
This announcement may contain certain forward-looking statements and projections, including statements regarding FireFly's plans, projections and projections with respect to its mineral resources and programs. Forward-looking statements may be identified by the use of words such as “may,” “could,” “could,” “would,” “will,” “expect,” “intend,” “believe,” “forecast,” “phase,” “goal,” “forecast,” “plan,” “plan,” “estimate,” “anticipate,” “continue” or other similar words and may include, without limitation, statements regarding plans, strategies and objectives.
Although the forward-looking statements contained in this announcement reflect management's current beliefs based on information currently available to management and what management believes to be reasonable assumptions, such forward-looking statements and projections are only estimates and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company's control, which may include changes in commodity prices, currency fluctuations, economic, social and political conditions, as well as changes in applicable regulations, as well as those risks set forth in the Company's public statements.
Forward-looking statements and projections are inherently uncertain and therefore may differ materially from the results ultimately achieved. For example, there can be no assurance that FireFly will be able to confirm the presence of mineral resources or ore reserves, that FireFly's plans to develop its mineral resources will be realized, that any mineralization will be economically viable or that a mine will be successfully developed on any of FireFly's mineral resources. The performance of FireFly may be affected by a number of factors beyond the control of the Company, its directors, officers, employees and contractors. The Company makes no representations or warranties as to the accuracy of any forward-looking statements or forecasts, and disclaims any obligation to update or revise any forward-looking statements or forecasts as a result of new information, future events or circumstances or otherwise, except as required by applicable law.
APPENDIX A
Green Bay Copper-Gold Project Mineral Resources
Mineral resource assessment of the Min deposit
| TONS | COPPER | GOLD | SILVER | CuEq | ||||
| (Mt) | Grade (%) |
Metal ('000 t) |
Grade (g/t) |
Metal (thousand ounces) |
Grade (g/t) |
Metal (thousand ounces) |
Grade (%) |
|
| Measured | 4.7 | 1.7 | 80 | 0.3 | 40 | 2.3 | 340 | 1.9 |
| Specified | 16.8 | 1.6 | 270 | 0.3 | 150 | 2.4 | 1300 | 1.8 |
| TOTAL M&E | 21.5 | 1.6 | 340 | 0.3 | 190 | 2.4 | 1600 | 1.8 |
| Supposed | 28.4 | 1.7 | 480 | 0.4 | 340 | 3.3 | 3000 | 2.0 |
Little Deer Mineral Resource Estimation
| TONS | COPPER | GOLD | SILVER | CuEq | ||||
| (Mt) | Grade (%) |
Metal ('000 t) |
Grade (g/t) |
Metal (thousand ounces) |
Grade (g/t) |
Metal (thousand ounces) |
Grade (%) |
|
| Measured | – | – | – | – | – | – | – | – |
| Specified | 2.9 | 2.1 | 62 | 0.1 | 9 | 3.4 | 320 | 2.3 |
| TOTAL M&E | 2.9 | 2.1 | 62 | 0.1 | 9 | 3.4 | 320 | 2.3 |
| Supposed | 6.2 | 1.8 | 110 | 0.1 | 10 | 2.2 | 430 | 1.8 |
GENERAL ASSESSMENT OF GREEN BAY MINERAL RESOURCES
| TONS | COPPER | GOLD | SILVER | CuEq | ||||
| (Mt) | Grade (%) |
Metal ('000 t) |
Grade (g/t) |
Metal (thousand ounces) |
Grade (g/t) |
Metal (thousand ounces) |
Grade (%) |
|
| Measured | 4.7 | 1.7 | 80 | 0.3 | 45 | 2.3 | 340 | 1.9 |
| Specified | 19.7 | 1.7 | 330 | 0.2 | 154 | 2.6 | 1600 | 1.9 |
| TOTAL M&E | 24.4 | 1.7 | 400 | 0.3 | 199 | 2.5 | 2000 | 1.9 |
| Supposed | 34.6 | 1.7 | 600 | 0.3 | 348 | 3.1 | 3400 | 2.0 |
- The Mineral Resource Estimate for the Green Bay Copper-Gold Project, comprising the Ming Deposit and Little Deer Complex, has been prepared and presented in accordance with the 2012 JORC Code and NI 43-101.
- The mineral resource is reported to have a copper cut-off grade of 1.0%.
- Metal equivalents for the mineral resource estimate were calculated at a copper price of US$8,750 per tonne, a gold price of US$2,500 per ounce and a silver price of US$25 per ounce. Metallurgical recovery is set at 95% for copper and 85% for gold and silver. Copper equivalent was calculated using the formula: CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822).
- Totals may vary due to rounding.
