Announcement • Nov 23

Fireweed Metals Corp. Provides an Update on Macmillan Pass Zinc-Lead-Silver Project

Fireweed Metals Corp. announced the first results of the 2022 drill program at their Macmillan Pass zinc-lead-silver project, located within the prolific Selwyn Basin zinc district of Yukon, Canada. At Boundary West Hole NB22-002 intersected high-grade massive sulphides and veins: 124 m of 12.3% zinc, 1.3% lead, and 45.9 g/t silver including 60 m of 19.0% zinc, 1.6% lead, and 64.7 g/t silver, the best ever intersection recorded anywhere at Macmillan Pass, in terms of grade x thickness. Step-out hole NB22-002 successfully extended the Boundary West massive sulphide mineralization, which remains open in multiple directions, including towards where geological vectors suggest a feeder zone may be present in which higher grades and thicknesses may be found. Hole NB22-002 also intersected a new zone of massive sulphide and volcanics over 18.5 m grading 6.15% zinc, 0.39% lead, and 14.3 g/t silver that remains open to the south. Diamond drill hole NB22-002 intersected a long interval of high-grade, dense massive sulphide and vein-hosted mineralization from a downhole depth of around 286 m: 124.49 m of 12.31% zinc, 1.31% lead, and 45.9 g/t silver. The massive sulphides comprise pyrite and sphalerite with minor galena. This massive sulphide interval contains higher grade sections, for example, 59.96 m of 19.04% zinc including 18.27 m of 28.1% zinc. An interval of lead-silver rich, very-high grade massive sulphide mineralization grading 25.18% Zn, 9.39% lead, and 166.9 g/t silver over 4.26 m occurs downhole of the massive sulphides and is tentatively interpreted to be a lateral equivalent of the high-grade lead-silver rich laminated zinc mineralization intercepted in nearby drillholes. The increase in zinc, lead and silver grades towards the east and with depth at Boundary West suggests that the feeder structure is located to the east and/or at depth from hole NB22-002, where the massive sulphide zone remains open. The massive sulphide mineralization is also open at depth to the west of hole NB21-002. Laminated barite occurs within the massive sulphide (~366-375 m) and silicified black mudstone occurs around the margins of the zone. An apparent offset of approximately 40 m to 50 m relative to other intersections of the massive sulphide zone reported from Boundary West to date, coupled with the absence of directly overlying massive sulphide in an adjacent hole (NB22-007), lead to the interpretation that the massive sulphides intersected in NB22-002 are separated by a small-scale fault from the rest of the massive sulphides previously drilled at Boundary West. Angles of bedding to core axis within and on either side of the massive sulphides suggest that true thicknesses are likely to be approximately 60% to 80% of intersected thickness. Additional drilling is required to determine any potential extension of the massive sulphide to the east and to more accurately delineate structure and true thicknesses. An additional intersection of a new zone of dense massive sulphide and volcanic-hosted mineralization only 130 m vertically from surface graded 6.15% zinc, 0.39% lead, and 14.3 g/t silver over 18.52 m including 7.41 m of 10.15% zinc, 0.73% lead, and 24.3 g/t silver. This represents a new zone of zinc mineralization that opens up the potential for additional mineralization at Boundary West towards the south. Diamond drill hole NB22-001 resulted in a successful step-out intersection of the laminated zinc mineralization at Boundary West of 4.87 m grading 6.71% zinc, 1.56% lead, and 40.5 g/t silver. NB22-001 also demonstrated continuity of the massive sulphide zone at Boundary West with a separate 38.27 m intersection of dense massive pyrite-sphalerite and minor vein-hosted sphalerite that graded 1.22% zinc, 0.04% lead, and 14.9 g/t silver. 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 all HQ3 (split tube) size core (61.1mm /2.4-inch diameter) with recoveries typically above 85% unless otherwise noted in the table of results. After drilling, core was logged for geology, structure, and geotechnical characteristics, then marked for sampling and photographed on site. The cores for analyses were marked for sampling based on geological intervals with individual samples 1.5 m or less in length. 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 sample assayed 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 2022 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 preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was sent to the Bureau Veritas 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). All samples were also analyzed for multiple elements by lithium borate fusion and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit Pb (>25.0%) and Zn (>24.0%) were analyzed by lithium borate fusion with XRF finish (BV Code LF726). Silver is reported in this news release by method AQ270, and zinc and lead are reported by LF725 or LF726. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2005 accredited laboratory. Results in this news release are length and bulk-density weighted averages as would be used in a Mineral Resource estimate. Readers are cautioned that in Fireweed news releases prior to 2020, only length weighted assay averages were reported which may result in slightly lower (under-reported) average values. Length and bulk-density weighted averages have been reported as these most accurately represent the average metal-content of the intersections.

Metals and Mining earnings growth	18.6%
Revenue growth rate	94.3%
Future return on equity	-78.20%
Analyst coverage	Low
Last updated	29 Apr 2026

Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2028	N/A	-39	-16	-38	2
12/31/2027	N/A	-54	-29	-53	2
12/31/2026	N/A	-34	-40	-35	3
12/31/2025	N/A	-42	-54	-53	N/A
9/30/2025	N/A	-45	-51	-50	N/A
6/30/2025	N/A	-35	-43	-43	N/A
3/31/2025	N/A	-35	-43	-42	N/A
12/31/2024	N/A	-35	-41	-41	N/A
9/30/2024	N/A	-37	-46	-45	N/A
6/30/2024	N/A	-40	-41	-39	N/A
3/31/2024	N/A	-36	-39	-38	N/A
12/31/2023	N/A	-33	-38	-37	N/A
9/30/2023	N/A	-29	-32	-31	N/A
6/30/2023	N/A	-19	-21	-21	N/A
3/31/2023	N/A	-15	-18	-17	N/A
12/31/2022	N/A	-14	-17	-15	N/A
9/30/2022	N/A	-12	-13	-11	N/A
6/30/2022	N/A	-8	-11	-9	N/A
3/31/2022	N/A	-9	-9	-9	N/A
12/31/2021	N/A	-9	-9	-9	N/A
9/30/2021	N/A	-9	-10	-10	N/A
6/30/2021	N/A	-8	-8	-8	N/A
3/31/2021	N/A	-6	-7	-7	N/A
12/31/2020	N/A	-6	-7	-6	N/A
9/30/2020	N/A	-7	-5	-8	N/A
6/30/2020	N/A	-5	-5	-5	N/A
3/31/2020	N/A	-5	-5	-6	N/A
12/31/2019	N/A	-5	-6	-5	N/A
9/30/2019	N/A	-2	N/A	-2	N/A
6/30/2019	N/A	-2	N/A	-2	N/A
3/31/2019	N/A	-2	N/A	-1	N/A
12/31/2018	N/A	-2	N/A	-2	N/A
9/30/2018	N/A	-2	N/A	0	N/A
6/30/2018	N/A	-2	N/A	-1	N/A
3/31/2018	N/A	-1	N/A	-1	N/A
12/31/2017	N/A	-1	N/A	-1	N/A
9/30/2017	N/A	-1	N/A	-1	N/A
6/30/2017	N/A	0	N/A	-1	N/A
3/31/2017	N/A	0	N/A	0	N/A
12/31/2016	N/A	0	N/A	0	N/A

Data	Last Updated (UTC time)
Company Analysis	2026/05/07 01:32
End of Day Share Price	2026/05/07 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Stefan Ioannou	ATB Cormark
Stefan Ioannou	ATB Cormark Historical (Cormark Securities)
Rene Cartier	BMO Capital Markets Equity Research

Fireweed Metals Future Growth

Future criteria checks 0/6

Key information

Recent future growth updates

Recent updates

New major risk - Revenue and earnings growth

Fireweed Metals Corp. announced that it has received CAD 61.463305 million in funding from JX Advanced Metals Corporation, Lundin Family Trusts

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New major risk - Revenue and earnings growth

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New major risk - Financial position

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New minor risk - Shareholder dilution

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Non-Independent Director recently bought CA$243k worth of stock

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Fireweed Metals Corp. Commences 2025 Field Program

New major risk - Shareholder dilution

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Director exercised options to buy CA$743k worth of stock.

President recently bought CA$225k worth of stock

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High number of new directors

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New major risk - Financial position

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Fireweed Metals Corp. Reports 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

New minor risk - Financial position

Fireweed Metals Corp. Reports the Results of Six Drill Holes from Tom South and Two Drill Holes from Jason Main as Part of the 2024 Drill Campaign At Its Macpass Project, Yukon, Canada

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Fireweed Metals Corp. Announces CFO Changes, Effective September 30, 2024

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Fireweed Metals Corp. announced that it has received CAD 43.076296 million in funding from Lundin Family Trusts

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New major risk - Financial position

New minor risk - Insider selling

Chairman of the Board exercised options to buy CA$694k worth of stock.

Fireweed Metals Corp., Annual General Meeting, May 21, 2024

Fireweed Metals Corp. Intersects 14 m True Width of 11.45% Zinc, 5.86% Lead, and 126.3 g/t Silver at the New Tom South Zone

Fireweed Metals Corp. Reports the Final Results from the 2023 Drilling Campaign At Its Tom and Jason Depos, Macmillan Pass Project, Yukon, Canada

Fireweed Metals Corp. Reports the Final Results from the 2023 Boundary Zone Drilling Campaign At Its Macmillan Pass

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New minor risk - Financial position

Fireweed Metals Corp. Identifies Drill Targets At the Gayna Project, Nwt

New minor risk - Market cap size

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Fireweed Metals Corp. Announces Appointment of Patrick (Paddy) G. Downey to the Board of Directors

Nemesia S.À R.L. and Zebra Holdings And Investments S.à R.L. acquired a 3.41% stake in Fireweed Metals Corp. (TSXV:FWZ) for CAD 6.3 million.

New major risk - Shareholder dilution

Fireweed Metals Corp. announced that it has received CAD 16.8 million in funding from Lundin Family Trusts, Teck Resources Limited

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Insider recently bought CA$162k worth of stock

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Now 21% undervalued

Insider recently bought CA$152k worth of stock

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Insider recently bought CA$450k worth of stock