Firebird Metals : Oakover Metallurgical Test Work Update

personalFirebird Metals Limited (ASX: FRB, "Firebird" or "the Company") is pleased to provide a metallurgical test work update conducted on composite batches derived from historical diamond (PQ) core from the Company's flagship Oakover Project, located in East Pilbara, Western Australia. Oakover contains an Inferred Mineral Resource estimate of 64Mt grading 10% Mn (8% Mn cut-off)reported in accordance with the JORC Code (2012).

Metallurgical testing included proof of concept ore sorting trials on two composite samples sourced from historical diamond core. Scrubbing and screening was employed to generate feedstock (-32+8mm) for ore sorting test work, which has delivered excellent product grades up to 31% Mn. Preliminary heavy liquid beneficiation test work was completed on -8+1mm material, also delivering excellent product grades up to 32.8% Mn.

Commenting on the successful progression of metallurgical test work at Oakover, Firebird Managing Director Mr Peter Allen said: "We are buoyed by the results delivered from proof-of-conceptore sorting trials and heavy liquid beneficiation trials, which made use of feed derived from historic diamond drill

Forcore.

"Importantly, we are right on track with our Rapid Development Program and these positive results, which are comparable to grades currently being sold in the market, provide us with increased confidence that the processing strategy in place will be suitable to deliver on our DSO strategy at Oakover. Furthermore, both ore sorting and dense media beneficiation methods utilised during these test work programs can provide significant operational and capital cost efficiencies, further strengthening the exciting prospects of Firebird as near term manganese developer."

"We have immediately progressed to a large-scalebulk-sampling program on higher grade supergene zones at the Sixty Sixer and Karen deposits, which will provide us with representative samples of the

ABN: 24 610 035 535

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potential early mining grades and assessment of the upgradability of the material to produce DSO onlyproduct."

"We set a strong platform for further growth and shareholder value creation in 2021 and we have hit the

ground running in 2022. We have a very busy year ahead and look forward to progressing and completing key Rapid Development Program workstreams, which will include commencement of the Oakover Pre- Feasibility Study this quarter."

Following the Company's positive announcement on sighter ore sorting results from test work completed by STEINERT (refer to announcement dated 11th October 2021), Firebird has completed proof of concept

usetrials on two metallurgical samples sourced from historical diamond core.

Composites generated from the diamond core available represent a mix of manganiferous shale, massive manganese and internal gangue dilution from the Sixty Sixer and Karen deposits; typically the deeper manganiferous shales are of a lower grade than massive ore zones which are near surface. The core composites (FRB 01 and FRB 02) were crushed to a top size of 32 mm to ensure adequate feed presentation to the ore sorters; future work proposes a much coarser crush top size circa 50-70 mm. Crushed products were then, scrubbed and screened at 8 mm and 1 mm. Beneficiation test work employed ore sorting for coarse material (-32+8 mm) and heavy liquid separation for the finer material (-8+1 mm).

Manganese product grades from each stage of the beneficiation test work are outlined in Table 1 and Table 2. The manganese grade for each batch processed increases through each stage of the test work process, indicating a highly liberated manganese mineral and potential for a low capital processing route at Oakover to produce a concentrate product that is saleable to the steel industry.

Table 2*: Initial Heavy Liquid beneficiation results

*Note: No weight recoveries, test work is proof-of-concept only

The ore sorting results have demonstrated with a high-level of confidence that the simple beneficiation process will be suitable for processing of the higher-grade supergene Direct Shipping Ore ("DSO"). Firebird is currently progressing its Rapid Development Program, which is evaluating speed-to-market

ABN: 24 610 035 535

A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: admin@firebirdmetals.com.au| W: www.firebirdmetals.com.au

opportunities targeting initial production through DSO, to deliver early cash flow through sales to the steel onlyindustry.

Heavy Liquid beneficiation test work on -8+1mm material also delivered saleable grade products,

presenting a strong opportunity to improve manganese extraction and add project value. Firebird plans

to complete further Heavy Liquid / Dense Media Separation test work over coming weeks, with results expected in February.

Firebird also recently completed a near surface high-grade supergene bulk sample at the Karen and Sixty Sixer deposits, targeting feed representing the proposed early-stage mining operation. A total of useapproximately 30 tonnes of sample from six separate locations has been extracted and is being transported

to Perth for larger scale ore sorting and heavy liquid separation test work. The scope of this bulk test work program includes ore variability assessment and equipment optimisation trials. The Phase 2 metallurgical program is scheduled to coincide with the completion of the Oakover Pre-Feasibility Study, which is due to commence this quarter.

personalFor enquiries regarding this release please contact: Mr Peter Allen

Managing Director

Ph +61 8 6245 9818

Email: admin@firebirdmetals.com.au

About Firebird Metals Limited

Firebird Metals Limited (ASX:FRB) is a West Australian company focused on the exploration and development of its 100% owned project portfolio, comprising of four highly prospective manganese

rojects in the renowned East Pilbara Manganese province of Western Australia:

The Company's primary focus is on the development of the Oakover and Hill 616 Manganese Projects, which are located approximately 85 km east and southeast of Newman and together cover approximately 375 km2. These two projects give the company a significant total Inferred Mineral Resource Estimate of 121 million tonnes:

• Oakover Project -64 Mt @ 10% Mn
• Hill 616 Project - 57.5 Mt @ 12.2% Mn

ABN: 24 610 035 535

A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: admin@firebirdmetals.com.au| W: www.firebirdmetals.com.au

The total Inferred Mineral Resources Estimate of 121 million tonnes provides a solid technical foundation for further development as the Company targets production of manganese for two key markets:

Firebird is focused on creating and growing sustainable value for our stakeholders through the application of best practices in exploration and our commitment to protecting the health and wellbeing of our

usemployees, the environment and the communities where we work.

Competent Persons Statement

The information in this Report that relates to Exploration Results and Mineral Resources of the Company is based on, and fairly represents, information and supporting documentation that has been reviewed and prepared by Robert Wason, who is a Senior Consultant - Geology at Mining Insights Pty Ltd and is a member of AusIMM.

personalMr. Wason has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which they are undertaking to qualify as an Expert and Competent Person as defined under the VALMIN Code and in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' ("JORC Code 2012"). Mr. Wason consents to the inclusion in this announcement of the matters based on the information in the form and context in which they appear.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Mark Pudovskis. Mr Pudovskis is a full-time employee of CSA Global Pty Ltd and is a Member of the Australasian Institute of Mining and Metallurgy.

Mr Pudovskis has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code). Mr Pudovskis consents to the disclosure of the information in this report

Forin the form and context in which it appears.

Competent Persons Statement

The information in this report that relates to ore sorting and heavy liquid separation trials results is based on and fairly represents information compiled by Dr Tony Parry. Dr Parry is the Managing Director of Consultancy OreSort Solutions and a Member of the Australian Institute of Mining and Metallurgy.

Dr Parry has sufficient experience of the ore sorting test work under consideration to be aware of problems that could affect the reliability of the data and to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of

ABN: 24 610 035 535

A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: admin@firebirdmetals.com.au| W: www.firebirdmetals.com.au

Exploration Results, Mineral Resources and Ore Reserves. Dr Parry consents to the inclusion in this report onlyof the matters based on information in the form and context in which they appear.

For usepersonal

ABN: 24 610 035 535

A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: admin@firebirdmetals.com.au| W: www.firebirdmetals.com.au