Fireweed Metals Corp. (TSX-V: FWZ) (OTCQX: FWEDF) is pleased to report the results of the first drill holes from the Tom deposit that intersected high-grade zinc-lead-silver mineralization as part of the 2025 drill campaign at its Macpass Project, Yukon, Canada.

Highlights

• A major 115 m step-out down-dip at Tom South significantly extending the zone of high-grade massive sulfide mineralization
• Hole TS25-001D1: 30 m true width of 33.23% zinc equivalent¹ (54.82 m intersected width of 18.20% Zn, 13.93% Pb, and 161.0 g/t Ag), from 891.6 metres downhole, including:
  • 22 m true width of 41.69% ZnEq (40.43 m intersected width of 22.45% Zn, 17.76% Pb, and 208.16 g/t Ag), including:
    • 7.0 m true width of 59.60% ZnEq (12.83 m intersected width of 24.98% Zn, 32.09% Pb, and 371.4 g/t Ag); and,
    • 3.9 m true width of 47.33% ZnEq (7.10 m intersected width of 32.82% Zn, 14.28% Pb, and 131.1 g/t Ag).
• Alongside the critical mineral zinc, significant concentrations of other critical minerals, germanium and gallium occur with the zinc mineralization (included within the full results in Table 1).

CEO Statement

Ian Gibbs, President and CEO, stated, “After following up on an isolated historical intersection in 2023, the zone at Tom South has rapidly grown into one of the most prospective areas at Macpass for high-grade step-outs in massive sulphide mineralization. The impressive width and grade of the intersection at Tom South demonstrates that the zone thickens and remains open down-dip, positioning this hole amongst the most significant in the project’s history. Continued success in intersecting massive sulphide mineralization in wide step-outs reinforces Tom’s potential for substantial high-grade resource growth, a major value driver at Macpass, and underscores the massive exploration potential across the district. Additional drilling is planned, aimed at defining the extent of this highly prospective high-grade zone.”

Tom South Results

The Tom South zone is part of the Mineral Resource at the Tom Deposit². The intersection in hole TS25-001D1 at Tom South described here was a ~115 m step-out down-dip from previous intersections in the Tom South feeder zone and encountered a thick sequence of laminated to massive sulphides consisting of sphalerite, galena, and minor chalcopyrite. This step-out intersection extends well beyond the limits of the 2024 Mineral Resource² and shows that the Tom South zone maintains remarkable thickness and high-grades in the down-dip direction, where it is open at depth. Tom South is also interpreted as being open in the up-dip direction, where additional drilling is planned.

• TS25-001D1 intersected 30 m true width (54.82 m intersected) of laminated and massive sulphide mineralization, a 115 m step-out, grading 33.23% ZnEq (18.20% zinc, 13.93% lead, and 161.0 g/t silver), including:
  • 22 m true width (40.43 m intersected) of 41.69% ZnEq (22.45% Zn, 17.76% Pb, and 208.16 g/t Ag), including:
    • 7.0 m true width (12.83 m intersected) of 59.60% ZnEq (24.98% Zn, 32.09% Pb, and 371.4 g/t Ag), and
    • 3.9 m true width (7.10 m intersected) of 47.33% ZnEq (32.82% Zn, 14.28% Pb, and 131.1 g/t Ag).

These results, along with the 2024 drilling results from Tom South (see Fireweed News Release dated November 28, 2024) were not included in the 2024 Mineral Resource Estimate as the drilling occurred after the database cut-off date for the 2024 MRE. The wide and high-grade intersections drilled at Tom South since the 2024 MRE show significant potential for expansion of the Tom Mineral Resource.

TS25-001 was abandoned due to challenging drilling conditions and cut off as TS25-001D1 in competent ground to successfully complete the hole.

Tom West Results

Drilling at Tom West provided a test of a gravity anomaly below the Tom deposit and doubled as a successful infill hole within an inferred portion of the Mineral Resource intersecting stratiform zinc and lead mineralization. No new mineralization was encountered below the Tom West zone and a refined interpretation of the density anomaly at Tom West is required to provide an explanation for the observed gravity signal. The infill section of the hole returned a wider and higher-grade intersection than predicted by the geological model used in the 2024 Mineral Resource.

TS25-002D1 was a twin of TS25-002 and was drilled due to poor recovery in the parent hole through the mineralized zone. Recovery in the redrill was an average of 95% in the redrilled intersection.

• TS25-002 intersected 80 m true width (84.69 m intersected) of laminated sulphide mineralization grading 5.45% ZnEq (5.24% Zinc, 0.23% lead, and 1.2 g/t silver), including:
  • 14 m true width (14.34 m intersected) of 9.06% ZnEq (8.86% zinc, 0.23% lead, and 0.9 g/t silver).
• TS25-002D1 intersected 83 m true width (87.50 m intersected) of laminated sulphide mineralization grading 5.75% ZnEq (5.55% Zinc, 0.21% lead, and 1.6 g/t silver), including:
  • 8.4 m true width (8.87 m intersected) of 9.01% ZnEq (8.80% zinc, 0.23% lead, and 1.3 g/t silver); and,
  • 18 m true width (19.50 m intersected) 9.10% ZnEq (8.85% zinc, 0.27% lead, and 1.8 g/t silver).

See Tables 1 and 2, Cross Sections TH–TH’, TD–TD’, Long Section TG–‍TG’ and Map 2 below for further details.

Drill Program Update

Fireweed mobilized an additional drill rig to the Macpass District, bringing the total to six rigs at the peak of the season, utilizing three active drill camps with a total capacity of ~150 people.

The drill program at Mactung has been completed, with ~11,300 m drilled at Mactung over the course of the 2025 season. The work at Mactung focused on infill, geotechnical, hydrogeological, and geometallurgical drilling to gather the samples and data necessary to commence a Feasibility Study by the end of this year.

The Macpass drill program also tested several zinc and gold regional exploration targets, and two drill rigs are still operating, targeting additional high-grade step-outs at the Tom deposit. The regional exploration program has been completed and consisted of ground gravity surveys, soil sampling, rock sampling, and prospecting.

Drilling at the Gayna project has been completed.

Samples from all completed drilling and regional programs have been submitted for laboratory analysis and results will continue to be reported when received and interpreted.

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.

About Fireweed

Fireweed 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 985 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.

Table 1: TS25-001, TS25-001D1, TS25-002, and TS25-002D1 drill results

Table 2: 2025 Drilling Summary

Table 3: Drill Hole Collar Information

Map 1: Macpass Project and Mactung Project locations (CNW Group/Fireweed Metals Corp.)

Map 2: Tom composite intervals in 2025 drilling, 2024 drilling and pre-2024 drilling (CNW Group/Fireweed Metals Corp.)

Cross section TH to TH’: Tom South 2025 holes TS25-001 and TS25-001D1 and 2024 holes that were not included in the 2024 Mineral Resource Estimate. (CNW Group/Fireweed Metals Corp.)

Cross section TH to TH’: TS25-002 and TS25-002D1 (CNW Group/Fireweed Metals Corp.)

Inclined Long section TG to TG’: showing 2025, 2024 and pre-2024 drilling (CNW Group/Fireweed Metals Corp.)

Photo 1: A portion of the intersection in TS25-001D1 containing massive sphalerite and galena from 933.5 to 938.3 m (CNW Group/Fireweed Metals Corp.)

Photo 2: TS25-002D1 300.3 to 308.0 m—grey facies laminated sphalerite and barite. (CNW Group/Fireweed Metals Corp.)