Company Announcements

TSXV: FWZ
OTCQX: FWEDF
FSE: M0G

VANCOUVER, BC , July 30, 2025 /CNW/ - Fireweed Metals Corp. ("Fireweed" or the "Company") (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 ("Macpass"), Yukon, Canada.

Highlights

• Hole NB25-004 from 202.60 metres ("m") downhole: 4.40 m of 9.35% Zinc ("Zn"), 1.38% lead ("Pb"), and 21.2 g/t silver ("Ag"), 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.

Fireweed trades on the TSX Venture Exchange under the trading symbol "FWZ", on the OTCQX Best Market under the trading symbol "FWEDF", and on the Frankfurt Stock Exchange under the trading symbol "M0G".

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

ON BEHALF OF FIREWEED METALS CORP.

"Ian Gibbs"

CEO & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Data Verification

The diamond drill core logging and sampling program was carried out under a rigorous quality assurance / quality control program using industry best practices. Drill intersections in this release are NQ2 size (50.5 mm/ 1.99-inch diameter)with recoveries typically above 85% unless otherwise noted in the results tables. After drilling, core was cleaned, logged for geology, structure, and geotechnical characteristics, then marked for sampling and photographed on site. Certain cores were selected for core scanning using light detection and ranging (LiDAR), short-wave infrared (SWIR), X-ray fluorescence (XRF), and high resolution RGB image capture. The cores for analyses were marked for sampling based on geological intervals with individual samples two metres or less in length, with one metre samples within mineralized zones. Drill core was cut lengthwise in half with a core saw; half-core was sent for assays reported in this news release, and the other half is stored on site for reference. Bulk density was determined on site for the entire length of each assay sample by measurement of mass in air and mass in water. Sample duplicate bulk density determinations and in-house bulk density standard determinations were each made at a rate of 5%. Since 2017, four in-house bulk density standards (mineralized drill core from the Tom deposit that span a range of densities) have been used and show an acceptable long-term precision. Certified standard masses are used to calibrate the scale balance used for bulk density determinations.

A total of 5% assay standards or blanks and 5% core duplicates are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards and blanks in 2025 drill results to date have been approved as acceptable. Duplicate data add to the long-term estimates of precision for assay data on the project and precision for drill results reported is deemed to be within acceptable levels. Samples were sent to the Bureau Veritas (BV) preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was sent to the BV laboratory in Vancouver, B.C to be pulverized to 85% passing 200 mesh size pulps. Clean crush material was passed through the crusher and clean silica was pulverized between each sample. The pulps were analyzed by 1:1:1 Aqua Regia digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-ES/ICP-MS) multi-element analyses (BV Code AQ270). Samples that contained greater than or equal to 1,500 ppm Zn were further analyzed for gallium and germanium using hydrofluoric acid (HF) + aqua regia closed vessel digestion and ICP-MS finish (BV Code GC204). All samples were also analyzed for multiple elements by lithium borate fusion and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit lead (>25.0%) and zinc (>24.0%) were analyzed by lithium borate fusion with XRF finish (BV Code LF726). Silver is reported in this news release by method AQ270, zinc and lead are reported by LF725 or LF726, and gallium and germanium are reported by GC204. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2017 accredited laboratory.

Assay values may appear rounded to one decimal place but are given in full in Table 1, and Cross Sections where zinc and lead grades are reported to two decimal places.

Results in this news release are length and bulk-density weighted averages as would be used in a Mineral Resource estimate. Length and bulk-density weighted averages have been reported as these most accurately represent the average metal-content of the intersections.

True widths for primary intervals are estimated by measuring perpendicular to strike within the short axis of a stratiform wireframe that has been constructed in 3D around the mineralized intercepts at Boundary Zone based on assay results, geological logging, stratigraphic correlation, and bedding measurements from oriented core. The massive sulphide mineralization and laminated mineralization at Boundary Zone are stratiform (oriented parallel to bedding), therefore the true width, or thickness, of the zone is estimated perpendicular to both the strike and dip direction of bedding. True widths are rounded to the nearest metre for widths over 10 m and to the nearest 0.1 m for widths less than 10 m, as this better reflects the precision of the estimates. True widths should be regarded as approximate as these are derived from an estimation that uses a preliminary interpretation of the geological model. True widths for nested intervals (marked as "Including" in results tables) are estimated using a ratio of included to primary intersected widths to attribute appropriate portions of the true width of the primary interval to the nested intervals.

Cautionary Statements

Forward Looking Statements

This news release contains "forward-looking" statements and information ("forward-looking statements"). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to interpretation of drill results, targets for exploration, potential extensions of mineralized zones, and the potential of the Company's projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company's operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. The Company assumes no obligation to update forward‐looking statements or beliefs, opinions, projections or other factors, except as required by law.

Footnotes and References

¹: For Tom, Jason, End Zone, and Boundary Zone Mineral Resources, see the technical report entitled "Technical Report for NI 43-101, Macpass Project, Yukon, Canada" with effective date September 4^th, 2024 filed on Sedar+ here Pierre Landry, P.Geo. is independent of Fireweed Metals Corp., and a 'Qualified Person' as defined under Canadian National Instrument 43-101. Pierre Landry, of SLR, is responsible for the Tom, Jason, End Zone, and Boundary Zone Mineral Resource Estimates.

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.

SOURCE Fireweed Metals Corp.