Fireweed Metals Corp. (TSX-V: FWZ) (OTCQX: FWEDF) is pleased to report the results of the 2025 Gayna exploration program, Northwest Territories, Canada.

Highlights

• Hole GR25-013 from 31.31 metres (“m”) downhole: 51.22 m of 4.4% Zinc (“Zn”), including 24.00 m of 7.3% Zn and 5.17 m of 10.0% Zn.
• Hole GR25-012 from 35.74 m downhole: 17.84 m of 3.4% Zn, including 3.00 m of 6.3% Zn.
• Hole GR25-009 from 224.03 m downhole: 2.00 m of 9.29% Zn, and 5.29 m of 2.02% Zn.

CEO Statement

Ian Gibbs, President and CEO, stated, “Our first season of drilling at Gayna successfully intersected significant zinc and lead mineralization at the Intrepid target, validating the prospectivity of the project. This program has advanced our understanding of these systems and provides important insights to guide potential future exploration. We will continue to interpret the encouraging results from our ambitious and multifaceted field season at Gayna, Mactung, and Macpass and plan to responsibly advance our projects at a rapid and practical pace.”

Summary

Fireweed has completed its inaugural drill program at the Gayna Property in the Northwest Territories, marking the first drilling at the project since the late 1970s (Figure 1). The 2025 program totaled approximately 3,800 m and tested a new exploration model targeting steeply dipping Zn-Pb-Ag sulphide mineralization hosted within Neoproterozoic reef margins. Drilling has advanced Fireweed’s understanding of the geological system and confirmed significant mineralization at the Intrepid target, an area interpreted to be directly underneath the mapped contact of the reef margin at surface. The drill holes in this release comprise intervals of vein-hosted and replacement-style zinc-lead mineralization (in the form of sphalerite and galena) from various targets at the Gayna property.Potential for reef-margin massive sulphide mineralization remains at several targets on the property.

A ground gravity survey, comprising four grids, was also completed during the 2025 field season with the goal of expanding upon previous surveys and exploring new targets at the Propitious reef (Figure 2).

Intrepid

A total of nine holes were drilled at the Intrepid reef target (Figure 3). These holes targeted prospective reef margin geology at depth inferred from a mapped reef contact at surface. This mapped contact coincides with gravity anomalies and/or soil geochemistry anomalies, as well as targets associated with historical drilling. While the reef contact was not intersected at depth, all holes drilled to target depth encountered sphalerite and/or galena mineralization. True width for most intersections at Intrepid cannot be accurately determined as the geometry of the mineralization is unknown.

GR25-009 intersected 5.29 m of reef margin-hosted sphalerite mineralization grading 2.02% Zn, confirming that zinc mineralization is present locally at this stratigraphic position. The hole targeted a gravity anomaly that extends to the northwest for 300 m. With no major mineralization encountered, this gravity anomaly remains largely untested.

GR25-012 intersected 17.84 m of vein and vein breccia sphalerite mineralization grading 3.39% Zn in reef-cover rocks. Following up on this mineralization, GR25-013 was drilled from the same pad at a shallower dip. GR25-013 intersected a higher grade and more continuous zone of mineralization than previously seen in historical drilling at the Intrepid target (Figure 4 and Figure 5). Sphalerite mineralization is present in veins and vein breccias with up to 15% partial replacement of the matrix of a sedimentary breccia (Figure 6). This mineralized zone grades 4.44% Zn over 51.22 m in hole GR25-013 including 5.17 m of 10.04% Zn, confirming wide intervals of zinc mineralization with local high-grade zones at Intrepid. Further downhole, other mineralized intervals were intersected: 7.99 m of 2.37% Zn, and 5.09 m of 4.80% Zn. While GR25-013 did not intersect the reef, the stronger mineralization towards the reef margin provides evidence that mineralization is concentrated along reef margins.

• GR25-012
  • Intersected 17.84 m of vein and vein breccia-hosted sphalerite mineralization grading 3.39% Zn, including 3.00 m of 6.32% Zn
• GR25-013
  • Intersected 51.22 m of vein-hosted, and replacement sphalerite mineralization grading 4.44% Zn, including 24.00 m of 7.34% Zn and 5.17 m of 10.04% Zn
• GR25-009
  • Intersected 2.00 m of reef margin-hosted sulphide mineralization grading 9.29% Zn and 5.29 m of 2.02% Zn

An estimate of true width is 70–90% of intersected thicknesses for the interval 35.74 m to 53.58 m in GR25-012 and 31.31 m to 82.53 m in GR25-013 based on a 2D cross sectional interpretation of the geometry of the zone that assumes a broadly stratiform, tabular geometry. True thickness estimates are preliminary as the 3D geometry of the zone has not been established by drilling off-section.

Jaws

A total of five holes were drilled at the Jaws target. Drillholes GR25-001, GR25-002, and GR25-003 targeted the highest-grade area of a strong zinc and lead-in-soil geochemical anomaly. Drillholes GR25-004 and GR25-006 targeted gravity and soil anomalies. All drillholes intersected trace to minor vein-hosted galena and/or sphalerite mineralization. None of the drillholes at the Jaws target intersected reef rocks or significant mineralization.

Zuviel

At the Zuviel Prospect, the reef-margin is not exposed at surface and drillhole GR25-005 intersected the top of a buried reef. Trace vein-hosted sphalerite is present, but no significant mineralization was observed. The strong soil and gravity anomalies in the area remain unresolved and the reef-margin is still untested.

Propitious

Preliminary results from a 2025 gravity grid at the Propitious reef showed a large gravity anomaly on the northwestern margin of the reef. This gravity anomaly coincides with elevated levels of zinc and lead in historical soil samples in the area, as well as prospective geology and fault structures. GR25-016 intersected minor sphalerite mineralization, consisting of partial replacement of the fine-grained matrix of a sedimentary breccia. No significant mineralization was noted at the contact between off-reef and reef facies and the hole was terminated in limestone reef.

See Table 1, Table 2, and Table 3, Cross Sections GA–GA’, and Figures below for full results.

Next Steps

Fireweed intends to continue interpreting the geological data recovered from the 2025 drill program and geophysics to refine potential targets at Gayna. The new density data from drill core will allow reinterpretation of gravity survey data and production of constrained inversions to vector toward near-reef density anomalies to determine next steps for potential future exploration.

Government Grant

Fireweed Metals was awarded a Mining Incentive Program (MIP) grant from the Government of the Northwest Territories. The grant was valued at $216,830, reducing the cost of the 2025 program.

Qualified Person Statement

Technical information in this news release has been reviewed and approved by Fireweed Metals Senior Geologist, Ian Carr, P.Geo. (BC, NWT), 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.

Figure 1: Gayna Claims and Location with 2025 Target Areas and drillholes.

Figure 2: Bouguer first-order trend removed ground gravity results from 2022, 2023 and 2025 with 2025 drill holes.

Figure 3: Intrepid target. 2025 drillholes and traces in purple, historical drillholes in white.

Figure 4: Intrepid target plan view with GA to GA’ cross section. 2025 drillholes and traces in purple, historical drillholes in white.

Figure 5: Cross section GA to GA’. GR25-012 and GR25-013 composite intervals.

Figure 6: (A) Grey and orange sphalerite (sph) mineralization rimming clasts in a carbonate breccia from 42.81-43.00 m in GR25-013. (B) Grey sphalerite partially replacing the matrix of a sedimentary breccia from 117.24-117.42 m in GR25-013.

Table 1: Length and bulk density-weighted assay results above a 1.41% Zn cut-off grade.

Table 2: 2025 Drillhole Results

Table 3: 2025 Drillhole Information