FIREWEED METALS CORP. (TSX-V: FWZ) (OTCQX: FWEDF) (FSE: M0G) is pleased to report it has discovered mineralization at Popcorn, a new target at the Macpass Project, Yukon, Canada.

Highlights

• Significant intercepts at Popcorn of near-surface vein and replacement style mineralization, similar in character to Boundary Zone including:
  • NB24-004 From 10.83 metre downhole: 46.03 m at 4.88% zinc and 3.6 grams per tonne silver, including 24.96 m at 8.27% zinc and 5.3 g/t silver
  • NB24-002 From 15.75 m downhole: 54.75 m at 3.98% zinc and 3.9 g/t silver, including 8.85 m at 6.13% zinc and 4.4 g/t silver, and also including 19.78 m at 6.71% zinc and 5.9 g/t silver
• Mineralization intersected across all seven holes drilled at Popcorn
• Located 600 m Northeast from Boundary Zone resource pit-shell, outside of the current Mineral Resource Estimate²

CEO Statement

Peter Hemstead, Interim President and CEO, stated, “Popcorn represents the first exploration success stemming from our regional exploration program this year at Macpass. Identifying near-surface zinc mineralization and defining its continuity less than a kilometre from the pit-shell that constrains the resource at Boundary Zone is significant in establishing Popcorn as an exciting exploration opportunity. In addition to being open in all directions, there is also potential for massive sulphides, similar to the feeder style mineralization seen at Boundary Zone, that we intend to explore in the future.”

Summary

The seven drill holes in this release (full results available in table 1 at the end of this release) comprise 1476 m of drilling with intervals of vein and replacement style mineralization at the new Popcorn target, 600 m northeast of the open pit-shell that constrains the resource at Boundary Zone. These holes were targeted around zinc surface mineralization in trenches and an isolated intercept from 1982. The 2024 drilling confirms the presence of mineralization near-surface as well as establishes its continuity over a strike length of 200 m, open both along strike and at depth. The mineralization discovered at Popcorn defines a new zone that is not included within Fireweed’s current Mineral Resource Estimate². The style of mineralization in these drill holes is similar to the vein and replacement intervals throughout Boundary Zone which occur around the massive to semi-massive sulphides of the Upper Zone (“BZUZ”) and Prime Zone (“BZPZ”).

Results

All drilling at Popcorn in 2024 was successful in intersecting vein and replacement style sulphides comprising sphalerite and minor galena. The style of mineralization indicates these sulphides are potentially part of the same later phase style of mineralization at Boundary Zone overprinting the massive sulphides. The drilling establishes continuity of mineralization at this target in the near-surface and remains open in all directions.

Fireweed successfully intersected vein and replacement sulphides (Photos 1 and 2) in all holes at Popcorn. Summaries of the intercepts from these holes are as follows:

• Hole NB24-004 intersected 46.03 m of vein and replacement style mineralization grading 4.88% zinc and 3.6 g/t silver, including 14.13 m grading 8.27% zinc and 5.3 g/t silver and including 5.36 m grading 13.01% zinc and 6.5 g/t silver.
• Hole NB24-002 intersected 54.75 m of vein and replacement style mineralization grading 3.98% zinc and 3.9 g/t silver including 8.85 m grading 6.13% zinc and 4.4 g/t silver, also including 19.78 m grading 6.71% zinc and 5.9 g/t silver and including 7.01 m grading 11.20% zinc and 9.0 g/t silver
• Hole NB24-007 intersected 24.05 m of vein and replacement style mineralization grading 4.80% zinc and 6.3 g/t silver
• Hole NB24-005 intersected 21.77 m of vein and replacement style mineralization grading 3.60% zinc and 3.2 g/t silver, and also intersected 53.95 m grading 3.70% zinc and 3.8 g/t silver, including 11.54 m grading 8.69% zinc and 5.1 g/t silver and including 5.80 m grading 11.29% zinc and 6.4 g/t silver
• Hole NB24-012 intersected 20.25 m of vein and replacement mineralization grading 3.78% zinc and 3.3 g/t silver, including 2.45 m grading 14.47% zinc and 8.0 g/t silver
• Hole NB24-003 intersected 6.16 m grading 7.64% zinc and 4.0 g/t silver, including 2.93 m grading 12.30% zinc and 4.7 g/t silver, and also intersected 4.94 m grading 5.32% zinc and 5.7 g/t silver
• Hole NB24-009 intersected a one metre interval of vein mineralization grading 2.99% zinc and 2.6 g/t silver

See Tables 1 to 3, Cross Sections PA–PA’, PB–PB’, inclined long section PC–PC’ and Map 2 below for further details.

Holes NB24-002, NB24-003, NB24-004, NB24-005, NB24-007, NB24-009 and NB24-012 are exploration holes that followed up on an isolated intercept from 1982 and discovered vein and breccia mineralization within conglomerates and mudstones. These mineralized zones are interpreted to be the same stratigraphy as the lithologies present at Boundary Zone which overlie the massive and stratiform sulphides of the BZUZ and BZPZ. Collectively these mineralized intervals comprise the new zone called Popcorn, with intercepts forming a continuous zone of mineralization with an irregular internal geometry of veins and replacement zones consisting of pyrite, sphalerite, and barite. The zone is broadest and highest grade near surface.

Similar looking vein and breccia mineralization at Boundary Zone occurs both stratigraphically above and below the high-grade stratiform laminated massive sulphide zones. This mineralization forms within a halo on both sides of the stratiform laminated zones at Boundary Zone and is interpreted as a stockwork of randomly oriented veins and breccia zones that are contained within broadly stratiform bodies.

Qualified Person Statement

Technical information in this news release has been reviewed and approved by Fireweed Metals Senior Geologist, Ian Carr, P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian National Instrument 43-101. Mr. Carr is not independent of the Company in accordance with NI 43-101.

Fireweed Metals Corp. is an exploration company focused on unlocking value in a new critical metals district located in Northern Canada. Fireweed is 100% owner of the Macpass District, a large and highly prospective 977 km² land package. The Macpass District includes the Macpass zinc-lead-silver project and the Mactung tungsten project. A Lundin Group company, Fireweed is strongly positioned to create meaningful value.

Additional information about Fireweed and its projects can be found on the Company’s website at FireweedMetals.com and at www.sedarplus.com

Map 1: Macpass Project and Mactung Project locations

Map 2: Mineralized intervals in 2024 drilling at Popcorn and pre-2024 drilling at Boundary Zone and Popcorn, projection of 2024 resource extents to surface, 2024 resource pit shell extent, and cross section lines PA–PA’, PB–PB’ and inclined long section PC–PC’.

Figure 1: Cross section PA to PA’ 50 m thickness with results for NB24-002, NB24-003, NB24-007, and NB24-009

Figure 2: Cross section PB to PB’ 50 m thickness with results for NB24-004, NB24-005, and NB24-012

Figure 3: Inclined long section PC to PC’ 50 m in width dipping 84.1° toward 182.9° showing NB24-002, NB24-003, NB24-004, NB24-005, NB24-007, NB24-009, and NB24-012 with results from highlight holes

Photo 1: Sphalerite replacement of matrix within conglomerates in NB24-004 47.4 to 54.8 m

Photo 2: Sphalerite replacement of matrix within conglomerates in NB24-002 62.0 to 69.9 m

Table 1: NB24-002, NB24-003, NB24-004, NB24-005, NB24-007, NB24-009 and NB24-012 drill results

† Entire hole intervals contain large continuous sections of low grade or non-mineralized material (below 2% zinc)—intersections of continuous higher-grade material (>1.41% zinc) are listed as Primary and Included intervals and represent mineralized material.

Table 2: 2024 Drilling Summary

Table 3: Drill Hole Collar Information

Coordinates listed in NAD83 UTM Zone 9N.