Fireweed Metals Corp. (TSXV: FWZ) (OTCQX: FWEDF) is pleased to report the results of the first drill holes from Boundary Zone targeting anomalies generated from the muon tomography survey as part of the 2025 drill campaign at its Macpass Project, Yukon, Canada.

Highlights

• Hole NB25-004 from 202.60 metres downhole: 4.40 m of 9.35% Zinc, 1.38% lead, and 21.2 g/t silver, including 1.20 m of 23.44% Zn, 4.15% Pb, and 55.8 g/t Ag, and 35.34 m of 3.39% Zn, including 7.97 m of 8.00% Zn and 4.1 g/t Ag, and 4.31 m of 3.86% Zn and 12.3 g/t Ag
• Hole NB25-002 from 200.85 m downhole: 21.72 m of 3.71% Zn and 4.2 g/t Ag, including 7.48 m of 4.83% Zn and 3.2 g/t Ag; and 7.44 m of 3.80% Zn and 8.3 g/t Ag; and 7.44 m of 3.80% Zn and 8.3 g/t Ag
• Significant concentrations of germanium and gallium are associated with sphalerite mineralization (included within the full results in Table 1).

CEO Statement

Ian Gibbs, President and CEO, stated, “The successful intersection of sulphide mineralization within targets generated from the 2024 muon tomography survey confirms the effective use of this exploration technique in the Macpass District. Our 2025 drilling confirms the density signatures generated from the survey correspond to mineralization, alteration, or denser rock types. Supported by Digital Supercluster funding, we’ve seen significant savings on both the deployment of the muon tomography survey in 2024 as well as the follow-up drilling at these targets this field season. The use of multiphysics to delineate and refine targets continues to highlight Fireweed as an award-winning pioneer of emerging technologies in the exploration space and we are excited to leverage this new technique in the future.”

Summary

The drill holes in this release primarily comprise intervals of semi-massive zinc, lead, silver sulphide mineralization (in the form of sphalerite and galena) and vein, replacement, and breccia style mineralization from the northern and eastern Boundary Zone areas as successful step-outs from the Boundary Zone Mineral Resource Estimate¹ (MRE). Semi-massive sulphides were intersected the eastern end of the deposit along strike of massive sulphide mineralization present in the Boundary Zone Prime Zone (BZPZ) in addition to vein and replacement style mineralization which explain the density anomalies generated from the muon tomography survey. One hole drilled into an anomaly in the northern Boundary Zone area was successful in intersecting vein and replacement mineralization, as well as significant intervals of siderite (iron carbonate alteration) that explain the density anomalies generated in this area. In the southern area of Boundary Zone one hole was drilled into dense rocks of the Vampire formation—a lithology not mapped in this area which is denser than the predicted lithology. Collectively, all holes drilled to completion targeting anomalies generated from the muon tomography have been explained satisfactorily. The muon tomography survey conducted in partnership with Ideon Technologies has performed well in imaging the estimated densities of the Boundary Zone MRE.

Results

Hole NB25-004 was successful in intersecting a narrow expression of the stratiform to massive sulphide mineralization associated with the Boundary Zone Prime Zone. The remaining holes (NB25-003 and NB25-005) completed as step-outs to the eastern extent of the MRE were successful in intersecting various packages of replacement, vein, and breccia style zinc mineralization. In the north, NB25-002 intersected vein and replacement style mineralization. All mineralized intercepts are beyond the limits of the 2024 MRE¹.

On the north side of Boundary zone, NB25-002 intersected vein, breccia, and massive sulphide mineralization within stratigraphy while targeting a potential fold structure. Bedding orientations indicate a fold structure is present around the target area.

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

• NB24-004
  • Intersected 4.40 m of stratiform to massive sulphide mineralization grading 9.35% Zn, 1.38% Pb, and 21.2 g/t Ag, including 1.20 m of 23.44% Zn, 4.15% Pb, and 55.8 g/t Ag
  • Intersected 35.34 m of vein, breccia, and replacement sulphide mineralization grading 3.39% Zn and 2.2 g/t Ag, including 7.97 m of 8.00% Zn and 4.1 g/t Ag; and 4.31 m of 3.86% Zn and 12.3 g/t Ag
• NB25-002
  • Intersected 21.72 m of vein, breccia, and replacement sulphide mineralization grading 3.71% Zn and 4.2 g/t Ag, including 7.48 m of 4.83% Zn and 3.2 g/t Ag; and 7.44 m of 3.80% Zn and 8.3 g/t Ag; and 13.50 m of 2.37% Zn and 2.5 g/t Ag; and 6.90 m of 2.28% Zn and 8.7 g/t Ag; and 3.59 m of 3.16% Zn and 5.4 g/t Ag.
• NB25-003
  • Intersected 11.84 m of vein, breccia, and replacement sulphide mineralization grading 1.58% Zn and 3.4 g/t Ag; and 6.62 m of 1.70% Zn and 2.2 g/t Ag
• NB25-005
  • Intersected 3.14 m of vein, breccia, and replacement style mineralization grading 5.62% Zn, and 4.3 g/t Ag

See Tables 1 and 2, Cross Sections AA–AA’, AB–AB’, Long Section M–‍M’ and Map 2 below for further details.

The holes in this release are step out holes testing density anomalies generated from a muon tomography survey and consist of vein, breccia, replacement, and stratiform to massive sulphides at Boundary Zone. Four holes (NB25-002, NB25-003, NB25-004, and NB25-005) contain mineralized intercepts within the density targets whereas NB25-006 intersected dense but not mineralized rocks of the Vampire Formation. NB25-001 was abandoned due to ground conditions and re-drilled as NB25-002.

Regional exploration hole MP25-001 was drilled 1.5 km west of End Zone, it did not intersect significant mineralization; it is also included within Table 2: 2024 Drilling Summary.

Drill Program Update

Currently Fireweed Metals have five drill rigs active across the Macpass district, targeting high-grade step-outs at Tom, as well as resource conversion, geotechnical, hydrogeological, and geometallurgical drilling at Mactung. There are three active drill camps with a total capacity of ~150 people as well as an active regional exploration program consisting of two fly camps facilitating gravity, soil sampling, and prospecting. Regional zinc and gold exploration targets will be drill-tested in the latter half of the exploration season.

One drill is currently active at the Gayna project targeting carbonate reef margin massive sulphides and testing a new genetic model that was developed using the Kipushi deposit in the Democratic Republic of Congo as a conceptual geological analogue.

Next Steps

To date, the Company has released the results of the first seven drill holes of the 2025 campaign, with six focused at Boundary Zone and one regional target. Additional results from Tom, Mactung, and regional drilling will be made available as they are 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 (“NI 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: NB25-001, NB25-002, NB25-003, NB25-004, NB25-005, NB25-006, and MP25-001 drill results

^‡ See “Data Verification” for a description of true width calculations

* Denotes intercepts with recovery below 85%

Coordinates listed in NAD83 UTM Zone 9N.

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

Map 2: Boundary Zone composite intervals in 2025 drilling, 2024 drilling and pre-2024 drilling with constrained resource projection to surface (CNW Group/Fireweed Metals Corp.)

Cross section AA to AA’: NB25-001 and NB25-002 (CNW Group/Fireweed Metals Corp.)

Cross section AB to AB’: NB25-003, NB25-004, and NB25-005 (CNW Group/Fireweed Metals Corp.)

Long section M to M’: showing Boundary Zone 2024 resource projected to the section, 2025, 2024 and pre-2024 drilling (CNW Group/Fireweed Metals Corp.)

Photo 1: Sphalerite and galena within faulting in NB25-004 at 204.1 m (CNW Group/Fireweed Metals Corp.)

Photo 2: NB25-004 38.7 to 45.2 m—matrix replacement sphalerite and siderite (CNW Group/Fireweed Metals Corp.)