Fireweed Metals Corp. (TSX-V: FWZ) (OTCQX: FWEDF) is pleased to report the results of 15 drill holes from Boundary Zone and 9 exploration drill holes as part of the 2024 drill campaign at its Macpass Project, Yukon, Canada.

Highlights

• Hole NB24-015 from 29.81 metres downhole: 63.54 m of 6.08% zinc, 0.89% lead, and 10.7 g/t silver, including 2.75 m of 12.71% Zn, 0.31% Pb, and 24.8 g/t Ag; and 5.13 m of 30.63% Zn, 7.83% Pb, 40.3 g/t Ag (3.9 m true width).
• Hole NB24-013 from 21.98 m downhole: 65.92 m of 5.09% Zn, 0.42% Pb, and 15.3 g/t Ag, including 38.88 m of 6.58% Zn, 0.49% Pb, and 18.9 g/t Ag, also including 6.18 m of 18.91% Zn, 0.07% Pb, and 37.3 g/t Ag; and including 2.53 m of 27.03% Zn, 4.57% Pb, and 34.7 g/t Ag (1.9 m true width).
• Significant concentrations of germanium and gallium are associated with sphalerite mineralization (included within the full results in Table 1).

CEO Statement

Peter Hemstead, President and CEO, stated, “These intercepts on the extreme eastern margin of Boundary Zone continue to push the extents of this already exceptional deposit with successful intersections of zinc mineralization in every completed hole, and stepping out up to 200 m along strike from the currently defined resource. On the west side of Boundary Zone, the successful intersection of mineralization in rocks interpreted to be the same age as those of the Howard’s Pass project to the south indicates that there is still significant untapped exploration potential in this area of the property. The final holes for the 2024 campaign have ended another successful season at Macpass providing several opportunities for further exploration in 2025 and beyond.”

Summary

The drill holes in this news release primarily comprise intervals of stratiform to massive zinc, lead, silver sulphide mineralization (in the form of sphalerite and galena) and vein, replacement, and breccia style mineralization from the eastern Boundary Zone area. One drillhole on the extreme western side, completed late in the season, contained vein, breccia, and replacement mineralization. The eastern intercepts focused on definition and expansion, increasing the thickness and confidence within the mineral resource, while stepping out up to 200 m along strike from the constrained resource margins. NB24-028 on the western extent of Boundary Zone was a successful follow-up of a 2020 drillhole intersecting mineralization interpreted to be within the same stratigraphy that hosts the Howard’s Pass project ~60 km south of Macpass. Holes NB24-028 and NB24-032 were drilled in PQ diameter to facilitate muon sensor deployment.

Results

Holes NB24-013 and NB24-015 were successful in intercepting narrow expressions of the stratiform to massive sulphide mineralization associated with the Boundary Zone Prime Zone. The remaining holes (NB24-016, 017, 018, 019, 026, 027, 029, 030, 031, 032) completed on the eastern extent were successful in intercepting various packages of replacement, vein, and breccia style zinc mineralization extending up to 200 m beyond the limits of the 2024 mineral resource estimate¹.

On the west side of Boundary zone, NB24-028 intercepted vein, breccia, and massive sulphide mineralization within stratigraphy interpreted to be the Duo Lake formation—this same stratigraphy is the host unit for mineralization at Howard’s Pass.

Summaries of the intercepts from these holes discussed above are as follows:

• NB24-015
  • Intersected 63.54 m of vein, breccia, and stratiform to massive sulphide mineralization grading 6.08% Zn, 0.89% Pb, and 10.7 g/t Ag, including 2.75 m of 12.71% Zn, 0.31% Pb, and 24.8 g/t Ag; and 5.13 m of 30.63% Zn, 7.83% Pb, 40.3 g/t Ag (3.9 m true width)
  • Intersected 105.84 m of vein, breccia, and replacement sulphide mineralization grading 3.06% Zn, 1.21% Pb, and 21.7 g/t Ag, including 5.30 m of 5.51% Zn, 0.20% Pb, and 9.7 g/t Ag; and 8.19 m of 5.56% Zn, 4.00% Pb, and 49.5 g/t Ag; and 28.56 m grading 6.02% Zn, 1.69% Pb, and 36.6 g/t Ag, including 7.87 m of 10.53% Zn, 3.91% Pb, and 72.1 g/t Ag
• NB24-013
  • Intersected 65.92 m of vein, breccia, and stratiform to massive sulphide mineralization grading 5.09% Zn, 0.42% Pb, and 15.3 g/t Ag, including 38.88 m of 6.58% Zn, 0.49% Pb, and 18.9 g/t Ag, and including 6.18 m of 18.91% Zn, 0.07% Pb, and 37.3 g/t Ag; and also including 2.53 m of 27.03% Zn, 4.57% Pb, and 34.7 g/t Ag (1.9 m true width)
  • Intersected 74.49 m of semi-massive and replacement sulphide mineralization grading 2.11% Zn, 1.72% Pb, and 26.7 g/t Ag, including 14.46 m of 3.62% Zn, 6.03% Pb, and 81.9 g/t Ag
• NB24-020
  • Intersected 45.64 m of vein, breccia, and replacement mineralization grading 3.04% Zn, 0.01% Pb, and 3.6 g/t Ag, including 5.28 m of 9.37% Zn, 0.03% Pb, and 8.9 g/t Ag
  • Intersected 8.23 m of vein and replacement mineralization grading 3.71% Zn, 0.01% Pb, and 5.4 g/t Ag
  • Intersected 20.01 m of vein mineralization grading 7.03% Zn, 0.03% Pb, and 9.2 g/t Ag, including 9.21 m of 12.56% Zn, 0.05% Pb, and 16.1 g/t Ag
  • Intersected 8.64 m of vein and replacement mineralization grading 1.67% Zn, 0.16% Pb, and 7.6 g/t Ag
  • Intersected 3.90 m of vein, breccia, and replacement mineralization grading 2.41% Zn, 2.10% Pb, and 27.9 g/t Ag
• NB24-018
  • Intersected 34.10 m of vein and replacement mineralization grading 1.71% Zn, 0.02% Pb, and 3.6 g/t Ag
  • Intersected 79.63 m of vein and breccia mineralization grading 2.35% Zn, 1.09% Pb, and 18.4 g/t Ag, including 5.06 m of 6.17% Zn, 3.37% Pb, and 53.7% Ag; and 3.68 m of 11.09% Zn, 3.18% Pb, and 53.7 g/t Ag
• NB24-027
  • Intersected 45.45 m of vein, breccia, and replacement mineralization grading 3.18% Zn, 0.02% Pb, and 5.8 g/t Ag, including 10.07 m of 6.13% Zn, 0.03% Pb, and 9.5 g/t Ag
  • Intersected 10.00 m of replacement mineralization grading 7.81% Zn, 0.01% Pb, and 5.2 g/t Ag
  • Intersected 4.00 m of vein and breccia mineralization grading 7.36% Zn, 0.02% Pb, and 28.6 g/t Ag
• NB24-031
  • Intersected 2.23 m of vein and replacement mineralization grading 7.01% Zn, 0.14% Pb, and 18.5 g/t Ag
  • Intersected 1.33 m of vein and replacement mineralization grading 10.76% Zn, 27.4 g/t Ag
  • Intersected 49.00 m of vein and replacement mineralization grading 3.08% Zn, 0.01% Pb, and 3.8 g/t Ag
• NB24-026
  • Intersected 24.00 m of vein, replacement, and breccia mineralization grading 4.31% Zn, 0.03% Pb, and 7.4 g/t Ag, including 12.69 m of 5.72% Zn, 0.03% Pb, and 9.3 g/t Ag
  • Intersected 14.03 m of vein and breccia mineralization grading 3.42% Zn, 0.28% Pb, and 9.5 g/t Ag
  • Intersected 3.25 m of vein mineralization grading 10.90% Zn, 0.17% Pb, and 25.4 g/t Ag
• NB24-029
  • Intersected 19.14 m of vein, replacement and breccia mineralization grading 6.74% Zn, 0.10% Pb, and 18.2 g/t Ag, including 9.55 m of 9.57% Zn, 0.10 % Pb, and 23.7 g/t Ag, also including 4.43 m of 12.56% Zn, 0.09% Pb, and 29.1 g/t Ag
• NB24-028
  • Intersected 37.75 m of vein and breccia mineralization grading 3.03% Zn, 0.07% Pb, and 8.2 g/t Ag, including 15.46 m of 4.48% Zn, 0.09% Pb, and 11.8 g/t Ag
  • Intersected 4.19 m of vein mineralization grading 3.89% Zn, 0.06% Pb, and 7.1 g/t Ag
  • Intersected 13.95 m of vein mineralization grading 2.09% Zn, 0.05% Pb, 5.1 g/t Ag

• NB24-017
  • Intersected 46.50 m of vein and breccia mineralization grading 4.08% Zn, 0.13% Pb, and 11.0 g/t Ag, including 11.60 m of 10.99% Zn, 0.06% Pb, and 25.7 g/t Ag, including 7.10 m of 13.04% Zn, 0.05% Pb, and 31.0 g/t Ag
  • Intersected 2.79 m of vein and breccia mineralization grading 8.05% Zn, 0.03% Pb, and 4.1 g/t Ag
• NB24-019
  • Intersected 3.00 m of sulphide mineralization within a fault zone grading 4.40% Zn 0.05% Pb, and 8.7 g/t Ag
  • Intersected 5.83 m of vein, replacement and breccia mineralization grading 2.14% Zn, 2.33% Pb, and 31.4 g/t Ag
  • Intersected 11.70 m of vein and replacement mineralization grading 1.76% Zn, 0.51% Pb, and 10.0 g/t Ag
  • Intersected 3.53 m of vein, replacement and breccia mineralization grading 4.31% Zn, 0.35% Pb, and 11.1 g/t Ag
• NB24-030
  • Intersected 7.00 m of vein, replacement and breccia mineralization grading 4.54% Zn, 0.05% Pb, and 9.1 g/t Ag
  • Intersected 3.41 m of vein, replacement and breccia mineralization grading 3.50% Zn, 0.02% Pb, and 5.2 g/t Ag
  • Intersected 6.70 m of vein mineralization grading 4.55% Zn, 0.01% Pb, and 4.4 g/t Ag
  • Intersected 4.50 m of vein and replacement mineralization grading 3.55% Zn, 0.01% Pb, and 2.8 g/t Ag
• NB23-032
  • Intersected 7.10 m of vein, replacement and breccia mineralization grading 2.95% Zn, 0.02% Pb, and 4.3 g/t Ag
  • Intersected 15.47 m of vein, replacement and breccia mineralization grading 3.88% Zn, 0.02% Pb, and 6.7 g/t Ag
  • Intersected 27.18 m of vein, replacement and breccia mineralization grading 2.86% Zn, 0.01% Pb, and 3.7 g/t Ag
• NB24-016
  • Intersected 0.99 m of vein and replacement mineralization grading 16.23% Zn, 1.38% Pb, and 35.7 g/t Ag

See Tables 1 and 2, Cross Sections O–O’, P–P’, V–V’, W–W’, X–X’, and Y–Y’, Long Section M–‍M’ and Maps 2, 3, and 4 below for further details.

The holes in this release are step out holes testing vein, breccia, replacement, and stratiform to massive sulphides at Boundary Zone. Seven holes (NB24-019, NB24-020, NB24-026, NB24-027, NB24-028, NB24-030, and NB24-032 contain mineralized intercepts that are entirely outside of the 2024 MRE¹ and represent growth potential outside of Fireweed’s current resource.

Exploration holes drilled during 2024 not associated with defined mineral deposits (Tom, Jason, Boundary Zone, and End Zone) are included within Table 2: 2024 Drilling Summary.

Next Steps

To date, the Company has released all 49 holes drilled in 2024. An updated public drill hole database is expected to be released in Q1 2025.

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 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.

Map 1: Macpass Project and Mactung Project locations

Map 2: Boundary Zone composite intervals in 2024 drilling and pre-2024 drilling with constrained resource projection to surface

Figure 1: Cross section O to O’, NB24-013 and NB24-015

Figure 2: Cross section P to P’, NB24-017, NB24-018, and NB24-019

Figure 3: Cross section V to V’, NB24-027, NB24-029, NB24-031 and NB24-032

Figure 4: Cross section W to W’, NB24-016, NB24-026 and NB24-030

Figure 5: Cross section X to X’, NB24-020

Figure 6: Cross section Y to Y’, NB24-020

Figure 7: Boundary long section M to M’ showing 2024 resource projected to the section, 2024 and previous drilling

Photo 1: Stratiform to semi-massive sulphides in NB24-015 from 87.8 to 93.6 m

Table 1: NB24-013, NB24-015, NB24-016, NB24-017, NB24-018, NB24-019, NB24-20, NB24-026, NB24-027, NB24-028, NB24-029, NB24-030, NB24-031, and NB24-032 drill results

^† Entire hole intervals contain large continuous sections of very low grade or not mineralized material (below 1.41% zinc) intersections of continuous higher-grade material (>1.41% zinc) are listed as Primary and Included intervals and represent mineralized material.
^‡ See “Data Verification” for a description of true width calculations
* Denotes intercepts with recovery below 85%

Table 2: 2024 Drilling Summary

Table 3: Drill Hole Collar Information

Coordinates listed in NAD83 UTM Zone 9N.