# FireFly releases Independent Technical Report for Preliminary Economic Assessment and Resource Estimate Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284 Original source: https://www.globenewswire.com/news-release/2026/09/22/3367016/0/en/firefly-releases-independent-technical-report-for-preliminary-economic-assessment-and-resource-estimate.html Publisher: globenewswire Original announcement: 2026-09-22T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-23T00:37:02.684Z Atlas analysis updated: 2026-09-23T00:37:02.684Z - Company: FireFly Metals Ltd - Ticker: FFM - Exchange: Unavailable - Region: Newfoundland, Canada - Primary commodity: Copper - Secondary commodities: Gold, Silver - Document categories: Resource update - Extracted: 2026-09-23 00:37:03 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary FireFly Metals Ltd has released an Independent Technical Report for its Green Bay Copper-Gold Project in Newfoundland, Canada, which includes an updated Mineral Resource Estimate. The project now boasts a combined Measured and Indicated Mineral Resource of 60.2 Mt at 2.43% copper equivalent \(CuEq\) and an Inferred Mineral Resource of 23.5 Mt at 2.51% CuEq. The report, compliant with JORC Code \(2012 Edition\) and NI 43-101, underpins a Preliminary Economic Assessment showing potential for a high-grade, low-cost operation. Reasoning: FireFly Metals has released an Independent Technical Report for its Green Bay Copper-Gold Project, detailing a substantial Measured and Indicated Mineral Resource of 60.2 Mt at 2.43% CuEq, alongside a significant Inferred Resource. The estimate is compliant with JORC and NI 43-101 standards, with full disclosure of metal equivalent assumptions and QP sign-off, indicating high confidence and strong potential for development. - Positive factor: Significant Measured and Indicated Resource - Positive factor: High confidence in resource estimate \(JORC and NI 43-101 compliant\) - Positive factor: QP/CP signed off on technical disclosure - Positive factor: Metal equivalent assumptions fully disclosed - Positive factor: Clear pathway to produce 100kt of copper per annum - Negative factor: Ming Deposit Inferred resource has higher grade than M&I, suggesting potential for grade dilution upon further infill drilling Facts used in scoring: 32 ## Classification and evidence **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The document reports a significant Indicated Mineral Resource of 56.7 Mt at 1.9% copper for the Green Bay Total project, indicating reasonable geological confidence. Evidence · table > Indicated Context: 56.7 **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The document reports a Measured Mineral Resource of 3.5 Mt at 1.5% copper for the Green Bay Total project, representing the highest confidence category. Evidence · table > Measured Context: 3.5 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Mineral Resource Estimate is explicitly stated to be prepared and reported in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves \(JORC Code \(2012 Edition\)\). Evidence · text > prepared and disclosed in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves \( JORC Code \(2012 Edition\) \) **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Mineral Resource Estimate is explicitly stated to be prepared and reported in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects \(NI 43-101\). Evidence · text > Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects \( NI 43-101 \) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Mr Juan Gutierrez, Group Chief Geologist at FireFly and a Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical disclosure. Evidence · text > Mr Juan Gutierrez, BSc, Geology \(Masters\), Geostatistics \(Postgraduate Diploma\), Group Chief Geologist at FireFly, and a Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical disclosure contained in this announcement. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The document clearly states that Mineral Resources have been reported at a 1.0% copper cut-off grade. Evidence · text > Mineral Resources have been reported at a 1.0% copper cut-off grade. **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The document reports a total Inferred Mineral Resource of 23.5 Mt at 1.9% copper for the Green Bay Project, which is a speculative category with limited drilling. Evidence · table > Inferred Context: 23.5 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: The Technical Report is in respect of the Preliminary Economic Assessment \(PEA\) and Mineral Resource Estimate, indicating its purpose is to support this early-stage study. Evidence · text > Technical Report required by Canadian National Instrument NI43-101 in respect of the Preliminary Economic Assessment and Mineral Resource Estimate **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The announcement refers to the 'Mineral Resource Estimate' and 'Mineral Resource Update' and states it was 'first reported in the Company’s ASX announcement dated 25 August 2026', indicating it is an update to a previously announced estimate. Evidence · text > Mineral Resource Update ## Extracted facts Stored fact records: 32. Some facts used in scoring do not have a stored record. ## Resource Estimates (32) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-0) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:1ba8f1690eb7065a6a65 - Deposit or zone: Ming Deposit #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 1.5 - Grade Unit: % - Contained Metal: 52000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Ming Deposit's Measured resource of 3.5 Mt at 1.5% copper represents a high-confidence, economically viable portion of the resource, contributing positively to the overall project. - Positive factor: High confidence Measured category - Positive factor: Good copper grade for a porphyry deposit Evidence · table > 1.5 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-1) Green Bay Copper-Gold Project · gold #### Identity - Project: Green Bay Copper-Gold Project - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:1ba8f1690eb7065a6a65 - Deposit or zone: Ming Deposit #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 0.2 - Grade Unit: g/t - Contained Metal: 20000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The gold grade of 0.2 g/t in the Ming Deposit's Measured resource is a byproduct credit, contributing to the overall project economics but not a primary driver. - Positive factor: High confidence Measured category Evidence · table > 0.2 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-2) Green Bay Copper-Gold Project · silver #### Identity - Project: Green Bay Copper-Gold Project - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:1ba8f1690eb7065a6a65 - Deposit or zone: Ming Deposit #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 1.3 - Grade Unit: g/t - Contained Metal: 147000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The silver grade of 1.3 g/t in the Ming Deposit's Measured resource provides a minor credit to the project economics. - Positive factor: High confidence Measured category Evidence · table > 1.3 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-3) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:1ba8f1690eb7065a6a65 - Deposit or zone: Ming Deposit #### Resource Data - Category: measured - Tonnes: 3500000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.7 - Metal Eq. Unit: % - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Measured resource of 3.5 Mt at 1.7% CuEq for the Ming Deposit indicates a robust, high-confidence portion of the resource. - Positive factor: High confidence Measured category - Positive factor: Good copper equivalent grade Evidence · table > 1.7 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-4) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:acef892f7b2aadc1fcd7 - Deposit or zone: Ming Deposit #### Resource Data - Category: indicated - Tonnes: 53800000 - Grade: 1.9 - Grade Unit: % - Contained Metal: 1041000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Indicated resource of 53.8 Mt at 1.9% copper for the Ming Deposit represents a substantial and well-defined portion of the project, providing a strong foundation for future studies. - Positive factor: Large Indicated tonnage - Positive factor: Strong copper grade for a porphyry deposit Evidence · table > 1.9 Context: 53.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-5) Green Bay Copper-Gold Project · gold #### Identity - Project: Green Bay Copper-Gold Project - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:acef892f7b2aadc1fcd7 - Deposit or zone: Ming Deposit #### Resource Data - Category: indicated - Tonnes: 53800000 - Grade: 0.5 - Grade Unit: g/t - Contained Metal: 878000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Indicated resource of 53.8 Mt at 0.5 g/t gold for the Ming Deposit provides a material gold credit, enhancing the overall project value. - Positive factor: Significant contained gold ounces - Positive factor: Good gold grade for a porphyry deposit Evidence · table > 0.5 Context: 53.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-6) Green Bay Copper-Gold Project · silver #### Identity - Project: Green Bay Copper-Gold Project - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:acef892f7b2aadc1fcd7 - Deposit or zone: Ming Deposit #### Resource Data - Category: indicated - Tonnes: 53800000 - Grade: 4.5 - Grade Unit: g/t - Contained Metal: 7707000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Indicated resource of 53.8 Mt at 4.5 g/t silver for the Ming Deposit provides a valuable silver credit, contributing to the polymetallic nature of the project. - Positive factor: Significant contained silver ounces Evidence · table > 4.5 Context: 53.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-7) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:acef892f7b2aadc1fcd7 - Deposit or zone: Ming Deposit #### Resource Data - Category: indicated - Tonnes: 53800000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 2.5 - Metal Eq. Unit: % - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Indicated resource of 53.8 Mt at 2.5% CuEq for the Ming Deposit highlights a significant and high-grade portion of the resource, supporting the project's economic potential. - Positive factor: Large Indicated tonnage - Positive factor: Strong copper equivalent grade Evidence · table > 2.5 Context: 53.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-8) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:8d47c6ea0d4910b21694 - Deposit or zone: Ming Deposit #### Resource Data - Category: inferred - Tonnes: 17300000 - Grade: 2 - Grade Unit: % - Contained Metal: 344000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Inferred resource of 17.3 Mt at 2.0% copper for the Ming Deposit indicates significant exploration upside and potential for future resource conversion. - Positive factor: Significant Inferred tonnage - Positive factor: Good copper grade for a porphyry deposit Evidence · table > 2.0 Context: 17.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-9) Green Bay Copper-Gold Project · gold #### Identity - Project: Green Bay Copper-Gold Project - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:8d47c6ea0d4910b21694 - Deposit or zone: Ming Deposit #### Resource Data - Category: inferred - Tonnes: 17300000 - Grade: 0.7 - Grade Unit: g/t - Contained Metal: 404000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Inferred resource of 17.3 Mt at 0.7 g/t gold for the Ming Deposit adds substantial gold potential, which could be upgraded with further drilling. - Positive factor: Significant contained gold ounces - Positive factor: Good gold grade for a porphyry deposit Evidence · table > 0.7 Context: 17.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-10) Green Bay Copper-Gold Project · silver #### Identity - Project: Green Bay Copper-Gold Project - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:8d47c6ea0d4910b21694 - Deposit or zone: Ming Deposit #### Resource Data - Category: inferred - Tonnes: 17300000 - Grade: 6.3 - Grade Unit: g/t - Contained Metal: 3522000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Inferred resource of 17.3 Mt at 6.3 g/t silver for the Ming Deposit provides additional silver credits, contributing to the overall polymetallic value. - Positive factor: Significant contained silver ounces Evidence · table > 6.3 Context: 17.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-11) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:8d47c6ea0d4910b21694 - Deposit or zone: Ming Deposit #### Resource Data - Category: inferred - Tonnes: 17300000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 2.8 - Metal Eq. Unit: % - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Inferred resource of 17.3 Mt at 2.8% CuEq for the Ming Deposit indicates strong potential for resource growth, though the higher grade compared to M&I suggests further drilling is needed to confirm continuity. - Positive factor: Significant Inferred tonnage - Positive factor: Strong copper equivalent grade - Negative factor: Inferred resource has higher grade than M&I, suggesting potential for grade dilution upon further infill drilling Evidence · table > 2.8 Context: 17.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-12) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:7197f1182f5578ae7869 - Deposit or zone: Little Deer #### Resource Data - Category: indicated - Tonnes: 2900000 - Grade: 2.1 - Grade Unit: % - Contained Metal: 62000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Little Deer deposit contributes 2.9 Mt at 2.1% copper in the Indicated category, adding a high-grade component to the overall project. - Positive factor: Good copper grade for a porphyry deposit - Positive factor: Indicated category provides reasonable confidence Evidence · table > 2.1 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-13) Green Bay Copper-Gold Project · gold #### Identity - Project: Green Bay Copper-Gold Project - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:7197f1182f5578ae7869 - Deposit or zone: Little Deer #### Resource Data - Category: indicated - Tonnes: 2900000 - Grade: 0.1 - Grade Unit: g/t - Contained Metal: 9000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The gold grade of 0.1 g/t in the Little Deer Indicated resource is a minor byproduct credit. - Positive factor: Indicated category provides reasonable confidence Evidence · table > 0.1 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-14) Green Bay Copper-Gold Project · silver #### Identity - Project: Green Bay Copper-Gold Project - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:7197f1182f5578ae7869 - Deposit or zone: Little Deer #### Resource Data - Category: indicated - Tonnes: 2900000 - Grade: 3.4 - Grade Unit: g/t - Contained Metal: 320000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The silver grade of 3.4 g/t in the Little Deer Indicated resource provides a minor credit to the project economics. - Positive factor: Indicated category provides reasonable confidence Evidence · table > 3.4 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-15) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:7197f1182f5578ae7869 - Deposit or zone: Little Deer #### Resource Data - Category: indicated - Tonnes: 2900000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 2.3 - Metal Eq. Unit: % - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Indicated resource of 2.9 Mt at 2.3% CuEq for Little Deer adds a high-grade, confident component to the overall project. - Positive factor: Good copper equivalent grade - Positive factor: Indicated category provides reasonable confidence Evidence · table > 2.3 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-16) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:aabe5903d7eb4bd5683a - Deposit or zone: Little Deer #### Resource Data - Category: inferred - Tonnes: 6200000 - Grade: 1.8 - Grade Unit: % - Contained Metal: 110000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Inferred resource of 6.2 Mt at 1.8% copper for Little Deer provides additional exploration potential for the project. - Positive factor: Significant Inferred tonnage - Positive factor: Good copper grade for a porphyry deposit Evidence · table > 1.8 Context: 6.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-17) Green Bay Copper-Gold Project · gold #### Identity - Project: Green Bay Copper-Gold Project - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:aabe5903d7eb4bd5683a - Deposit or zone: Little Deer #### Resource Data - Category: inferred - Tonnes: 6200000 - Grade: 0.1 - Grade Unit: g/t - Contained Metal: 10000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The gold grade of 0.1 g/t in the Little Deer Inferred resource is a minor byproduct credit. Evidence · table > 0.1 Context: 6.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-18) Green Bay Copper-Gold Project · silver #### Identity - Project: Green Bay Copper-Gold Project - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:aabe5903d7eb4bd5683a - Deposit or zone: Little Deer #### Resource Data - Category: inferred - Tonnes: 6200000 - Grade: 2.2 - Grade Unit: g/t - Contained Metal: 430000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The silver grade of 2.2 g/t in the Little Deer Inferred resource provides a minor credit to the project economics. Evidence · table > 2.2 Context: 6.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-19) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:aabe5903d7eb4bd5683a - Deposit or zone: Little Deer #### Resource Data - Category: inferred - Tonnes: 6200000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.8 - Metal Eq. Unit: % - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Inferred resource of 6.2 Mt at 1.8% CuEq for Little Deer indicates further exploration potential for the project. - Positive factor: Significant Inferred tonnage - Positive factor: Good copper equivalent grade Evidence · table > 1.8 Context: 6.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-20) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:5649c2d705a99a632f64 - Deposit or zone: Green Bay Total #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 1.5 - Grade Unit: % - Contained Metal: 52000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Measured resource of 3.5 Mt at 1.5% copper for the Green Bay Project provides a high-confidence base for development. - Positive factor: High confidence Measured category - Positive factor: Good copper grade for a porphyry deposit Evidence · table > 1.5 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-21) Green Bay Copper-Gold Project · gold #### Identity - Project: Green Bay Copper-Gold Project - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:5649c2d705a99a632f64 - Deposit or zone: Green Bay Total #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 0.2 - Grade Unit: g/t - Contained Metal: 20000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Measured resource includes 0.2 g/t gold, providing a minor byproduct credit. - Positive factor: High confidence Measured category Evidence · table > 0.2 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-22) Green Bay Copper-Gold Project · silver #### Identity - Project: Green Bay Copper-Gold Project - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:5649c2d705a99a632f64 - Deposit or zone: Green Bay Total #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 1.3 - Grade Unit: g/t - Contained Metal: 147000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Measured resource includes 1.3 g/t silver, providing a minor byproduct credit. - Positive factor: High confidence Measured category Evidence · table > 1.3 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-23) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:5649c2d705a99a632f64 - Deposit or zone: Green Bay Total #### Resource Data - Category: measured - Tonnes: 3500000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.7 - Metal Eq. Unit: % - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Measured resource of 3.5 Mt at 1.7% CuEq for the Green Bay Project provides a robust, high-confidence base. - Positive factor: High confidence Measured category - Positive factor: Good copper equivalent grade Evidence · table > 1.7 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-24) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:f6739b8d3a37dbf2c186 - Deposit or zone: Green Bay Total #### Resource Data - Category: indicated - Tonnes: 56700000 - Grade: 1.9 - Grade Unit: % - Contained Metal: 1103000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Indicated resource of 56.7 Mt at 1.9% copper for the Green Bay Project represents a substantial and well-defined portion of the resource, providing a strong foundation for future studies. - Positive factor: Large Indicated tonnage - Positive factor: Strong copper grade for a porphyry deposit Evidence · table > 1.9 Context: 56.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-25) Green Bay Copper-Gold Project · gold #### Identity - Project: Green Bay Copper-Gold Project - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:f6739b8d3a37dbf2c186 - Deposit or zone: Green Bay Total #### Resource Data - Category: indicated - Tonnes: 56700000 - Grade: 0.5 - Grade Unit: g/t - Contained Metal: 887000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Indicated resource of 56.7 Mt at 0.5 g/t gold provides a material gold credit, enhancing the overall project value. - Positive factor: Significant contained gold ounces - Positive factor: Good gold grade for a porphyry deposit Evidence · table > 0.5 Context: 56.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-26) Green Bay Copper-Gold Project · silver #### Identity - Project: Green Bay Copper-Gold Project - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:f6739b8d3a37dbf2c186 - Deposit or zone: Green Bay Total #### Resource Data - Category: indicated - Tonnes: 56700000 - Grade: 4.4 - Grade Unit: g/t - Contained Metal: 8027000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Indicated resource of 56.7 Mt at 4.4 g/t silver provides a valuable silver credit, contributing to the polymetallic nature of the project. - Positive factor: Significant contained silver ounces Evidence · table > 4.4 Context: 56.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-27) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:f6739b8d3a37dbf2c186 - Deposit or zone: Green Bay Total #### Resource Data - Category: indicated - Tonnes: 56700000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 2.5 - Metal Eq. Unit: % - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Indicated resource of 56.7 Mt at 2.5% CuEq for the Green Bay Project highlights a significant and high-grade portion of the resource, supporting the project's economic potential. - Positive factor: Large Indicated tonnage - Positive factor: Strong copper equivalent grade Evidence · table > 2.5 Context: 56.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-28) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:57d7cee441e6995b7a08 - Deposit or zone: Green Bay Total #### Resource Data - Category: inferred - Tonnes: 23500000 - Grade: 1.9 - Grade Unit: % - Contained Metal: 454000 - Contained Unit: t - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Inferred resource of 23.5 Mt at 1.9% copper for the Green Bay Project indicates significant exploration upside and potential for future resource conversion. - Positive factor: Significant Inferred tonnage - Positive factor: Good copper grade for a porphyry deposit Evidence · table > 1.9 Context: 23.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-29) Green Bay Copper-Gold Project · gold #### Identity - Project: Green Bay Copper-Gold Project - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:57d7cee441e6995b7a08 - Deposit or zone: Green Bay Total #### Resource Data - Category: inferred - Tonnes: 23500000 - Grade: 0.6 - Grade Unit: g/t - Contained Metal: 414000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Inferred resource of 23.5 Mt at 0.6 g/t gold adds substantial gold potential, which could be upgraded with further drilling. - Positive factor: Significant contained gold ounces - Positive factor: Good gold grade for a porphyry deposit Evidence · table > 0.6 Context: 23.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-30) Green Bay Copper-Gold Project · silver #### Identity - Project: Green Bay Copper-Gold Project - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:57d7cee441e6995b7a08 - Deposit or zone: Green Bay Total #### Resource Data - Category: inferred - Tonnes: 23500000 - Grade: 5.2 - Grade Unit: g/t - Contained Metal: 3952000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Inferred resource of 23.5 Mt at 5.2 g/t silver provides additional silver credits, contributing to the overall polymetallic value. - Positive factor: Significant contained silver ounces Evidence · table > 5.2 Context: 23.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/firefly-releases-independent-technical-report-for-preliminary-economic-assessmen--7ad85bfc-ead6-4490-96e1-a30947aa0284#fact-resource-facts-31) Green Bay Copper-Gold Project · copper #### Identity - Project: Green Bay Copper-Gold Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Juan Gutierrez - Resource group id: resource:57d7cee441e6995b7a08 - Deposit or zone: Green Bay Total #### Resource Data - Category: inferred - Tonnes: 23500000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 2.5 - Metal Eq. Unit: % - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total Inferred resource of 23.5 Mt at 2.5% CuEq for the Green Bay Project indicates strong potential for resource growth, though the similar grade to M&I suggests further drilling is needed to confirm continuity. - Positive factor: Significant Inferred tonnage - Positive factor: Strong copper equivalent grade - Negative factor: Inferred resource has similar grade to M&I, suggesting potential for grade dilution upon further infill drilling Evidence · table > 2.5 Context: 23.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.