Announcement • Jan 16

Fireweed Metals Corp. Intersects Zinc Mineralization in 300 m Step Out at Tom South and Provides Macpass Regional Update

Fireweed Metals Corp. reported the initial results of a major step-out drill hole at Tom South targeting laminated and stratiform zinc-lead-silver mineralization at its Macpass Project, Yukon, Canada. Hole TS25-003, a 300 metre step-out at Tom South ended with 58.30 m of laminated sulphides interbedded with black mudstones from 1,164 m downhole grading 2.33% zinc, 0.04% lead, and 1.79 g/t silver, including 5.24 m of 7.80% zinc, 0.05% lead, and 2.33 g/t silver. This intersection represents the stratigraphic interval that typically overlies the massive sulphide mineralization at Tom South. At a depth of ~1,222 m, the hole was shut down in mineralization due to seasonal constraints but will be resumed in 2026. TS25-003 provides a compelling indication that extending this hole has potential to intersect massive sulphides below the laminated sulphide mineralization. Fireweed drilled one of its best ever step out holes at Tom in terms of grade and thickness, TS25-001D1, which intersected a wide interval of very high grade material on the edge of the current Mineral Resource and is interpreted as within or adjacent to a feeder-zone. In hole TS25-003 Fireweed intersected a low-angle 50 m intersection of intermittent black facies laminated mineralization within which drilling has paused. This facies is the rock type that is seen at Tom South overlying the feeder-proximal massive sulphide zone. After finishing off TS25-003, the 2026 drill program will leverage the success of the 2025 program and will use geological indicators to vector toward the feeder zone and test the down-dip extent of Tom South which remains open and where there is potential for significant scale and grade. The drill holes in this release comprise intervals from Tom South and regional zinc-primary and gold-focused exploration across several targets at Macpass. The intersection at Tom South is from an incomplete hole, terminated in mineralization and Fireweed intends to complete the hole in 2026. TS25-003 intersected mineralization 300 m down-dip of a previously reported high-grade intersection at Tom South of 30 m true width at 33.2% zinc equivalent that stepped out 115 m from previous drilling (hole TS25-001D1). This brings the total step-out distance of 2025 drilling at Tom South to 415 m from previous drilling in the down-dip direction and Tom South remains open at depth. Regional zinc and gold focused exploration in this release was carried out across four targets in the Macpass district: zinc at Harvest, and gold at Oro, Centroid, and Goliath. TS25-003 was successful in intersecting 58.30 m of stratiform sulphide mineralization grading 2.33% zinc, 0.04% lead, and 1.79 g/t silver, including 5.24 m of 7.80% zinc, 0.05% lead, and 2.33 g/t silver. This interval comprises intermittent black facies from 1,164 m to the current depth of 1,222.3 m consisting of centimetre to decimetre scale beds of laminated sphalerite-mudstone interbedded with black mudstones. The intersection contains bedding and sedimentary lamination oriented sub-parallel to the core axis and has an intersected (apparent) width of at least 58.30 m. The true width of the intersection cannot be accurately estimated until completed and may be as little as 10 to 20% of the intersected width. The hole was terminated in mineralization due to inclement weather conditions and there is the potential for this mineralized zone to continue to greater depths when drilling resumes, anticipated for the start of the 2026 field season. In other Tom South drill intersections, laminated sulphides overlie high-grade sections of high-grade massive sulphides. Fireweed cautions that the presence of massive sulphides beneath laminated sulphide mineralization in several other drill holes at Tom South does not guarantee that massive sulphides will be present once TS25-003 is advanced to greater depths. TS25-004 was drilled approximately 100 m up-dip of previous Tom South intersections and transitioned into non-prospective footwall rocks without intersecting mineralization, interpreted as a pinch out of mineralization in the up-dip direction. The Harvest target was delineated utilizing ground gravity early in the 2025 field campaign within an area deemed highly prospective for zinc mineralization owing to the presence of significant zinc-lead-silver soil anomalies, prospective host rocks and appropriate structural setting. These preliminary data resulted in the delineation of a gravity anomaly 1.8 times as large as that at Tom which is coincident with anomalous zinc-in-soil geochemistry at Harvest on surface. Two drillholes, MP25-004 and MP25-005, intersected multiple beds of witherite (barium carbonate) and barite (barium sulphate) up to 40 m in apparent thickness and are interpreted to be the source of the significant gravity high in this area. Barite/witherite beds like those at Harvest are an attractive replacement host for zinc and lead sulphide mineralization, and the proximity to a significant surface exposure of smithsonite (zinc carbonate) and bladed barite at surface in a nearby creek indicates the continued potential for zinc mineralization in this area. Historical drilling at Oro primarily tested the target for epithermal and Carlin style gold occurrences. The discovery of gold-bearing reduced intrusion related systems at neighbouring properties triggered a re-evaluation of potential gold targets in the Macpass District. Review of data at Oro shows a significant gold-in-soil anomaly as well as elevated concentrations of RIRGS indicator elements bismuth, tellurium, arsenic, and antimony, as well as historical intersections of gold-in-core. An Extremely Low Frequency survey was conducted in an attempt to delineate a potential intrusion below surface in advance of drilling. Fireweed drilled one hole, MP25-003, which intersected several felsic dykes with minor sub-parallel quartz veining, and three gold assay composite intervals above 0.05 g/t gold: 5.00 m of 0.10 g/t gold, 7.00 m of 0.13 g/t gold, and 13.00 m of 0.45 g/t gold. A source intrusion for these felsic dykes has not been found and requires additional geophysical surveys or exploration drilling to identify. The Goliath target consists of elevated RIRGS pathfinder elements in rock and soil, elevated gold in rock values including one sample returning 0.57 g/t gold, and a coincident resistivity anomaly from an Extremely Low Frequency survey corroborated by airborne geophysics. MP25-006 was completed without intersecting any significant gold values, reduced dykes or intrusive rocks, suggesting the source of this geochemical anomaly may lie deeper than originally interpreted. The Centroid target was delineated through elevated RIRGS pathfinder elements and a co-incident resistivity signature indicative of a potential buried intrusion. Six holes (MP25-007 through MP25-012) were drilled at Centroid attempting to identify a buried intrusion.

CEO salary percentage	50.06%
CEO tenure	1.3yrs
CEO ownership	0.2%
Management average tenure	1.3yrs
Board average tenure	1.6yrs

Name	Position	Tenure	Compensation	Ownership
Ian Gibbs	President	1.3yrs	CA$805.89k	0.18% $ 1.3m
Tyler Keeling	Chief Financial Officer	1.3yrs	CA$341.69k	no data
Jack Milton	Vice President of Exploration	1.3yrs	CA$404.17k	0.079% $ 562.0k
Alexander Campbell	Vice President of Corporate Development	2.8yrs	no data	0.0044% $ 31.5k
Ian Ponsford	Vice President of External Affairs & Sustainability	no data	no data	no data
Lauren Haney	Vice President of Indigenous Relations & Sustainability	1.3yrs	no data	no data
Cindy Chiang	Financial Controller	5yrs	CA$268.60k	no data
Penny Johnson	Corporate Secretary	3.3yrs	no data	no data

Name	Position	Tenure	Compensation	Ownership
Ian Gibbs	President	1.3yrs	CA$805.89k	0.18% $ 1.3m
Ronald Hochstein	Non-Independent Director	1.1yrs	CA$37.92k	0.17% $ 1.2m
Wojtek Wodzicki	Independent Director	1.1yrs	CA$37.92k	0.040% $ 286.2k
Paul Harbidge	Independent Director	2yrs	CA$58.27k	0.0044% $ 31.5k
Peter Hemstead	Independent Director	6.1yrs	CA$54.75k	0.22% $ 1.6m
Adam Lundin	Independent Chairman	1.3yrs	CA$66.99k	2.19% $ 15.6m
James Beck	Non-Independent Director	1.9yrs	CA$45.00k	0% $ 0
Jill Donaldson	Independent Director	3.8yrs	CA$55.00k	0.024% $ 170.5k

Data	Last Updated (UTC time)
Company Analysis	2026/05/18 09:12
End of Day Share Price	2026/05/15 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
Alexander Robert Pearce	BMO Capital Markets Equity Research
Rene Cartier	BMO Capital Markets Equity Research

Fireweed Metals Management

Management criteria checks 1/4

Key information

Recent management updates

Fireweed Metals Corp., Annual General Meeting, May 26, 2026

Fireweed Metals Corp. Approves Board Changes

Fireweed Metals Corp. Announces CFO Changes

Fireweed Metals Corp., Annual General Meeting, Apr 23, 2025

Fireweed Metals Corp. Announces Chief Executive Officer Changes

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

Recent updates

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

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

Fireweed Metals Corp., Annual General Meeting, May 26, 2026

Fireweed Metals Corp Commences Mactung Tungsten Project Feasibility Study

Fireweed Metals Corp. Intersects Zinc Mineralization in 300 m Step Out at Tom South and Provides Macpass Regional Update

Fireweed Metals Corp. Reports the Results of the 2025 Gayna Exploration Program, Northwest Territories, Canada

Fireweed Metals Corp. Provides an Update on the Significant Activities to Advance Its Strategic Mactung Tungsten Project

Fireweed Metals Corp. Reports the Results of the First Drill Holes from the Tom Deposit

Fireweed Metals Corp. Signs Funding Agreement with the Government of Canada Valued At $12.9 Million to Advance Planning for North Canol Road and Power Improvements

Fireweed Metals Corp. Intersects Sulphide Mineralization At Boundary Zone Muon Targets

Fireweed Metals Corp. announced that it has received CAD 60.00276 million in funding from Lundin Family Trusts

Fireweed Metals Corp. Commences 2025 Field Program

Fireweed Metals Corp. announced that it expects to receive funding from Lundin Family Trusts and other investors

Fireweed Metals Corp. Approves Board Changes

Fireweed Metals Corp. Identifies Targets Using Muon Tomography

Nemesia S.À R.L. acquired additional 6.42% stake in Fireweed Metals Corp. (TSXV:FWZ).

Fireweed Metals Corp. Announces CFO Changes

Fireweed Metals Corp., Annual General Meeting, Apr 23, 2025

Fireweed Metals Corp. Announces Chief Executive Officer Changes

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

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

Fireweed Metals Corp. Reports Additional Nine Drill Holes from Boundary Zone as Part of the 2024 Drill Campaign At Its Macpass Project, Yukon, Canada

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

Fireweed Metals Corp. Increases Mineral Resources at the Macpass Project Including an Inaugural Resource for Boundary Zone

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

Fireweed Metals Corp. Announces Board Changes

Fireweed Metals Corp. announced that it expects to receive CAD 10 million in funding

Fireweed Metals Corp. Launches Largest Regional Exploration Campaign At Macpass

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

Fireweed Metals Corp. Reports Best Drill Intersection from Boundary Zone to Date, as Well as Other Spectacular Assay Results from Its 2023 Exploration At the Macmillan Pass Project, Yukon, Canada

Fireweed Metals Corp. Advances Boundary Zone, Intersecting 57.4 M of 8.4% Zinc, 1.8% Lead, and 51.8 G/T Silver, and 49.9 M of 10.1% Zinc, and 14.4 G/T Silver

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

Fireweed Metals Corp. Reports Additional Assay Results from Its 2023 Exploration At the Macmillan Pass Project, Yukon, Canada, and Provide an Update from Its Largest Ever Drill Program

Fireweed Metals Corp. Completes Geophysical Survey at the Gayna Project, NWT

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.

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

Fireweed Metals Corp. Reports Additional Assay Results from Its 2023 Exploration At the Macmillan Pass Project, Yukon

Fireweed Metals Corp. announced that it expects to receive CAD 16.8 million in funding from Lundin Family Trusts

Fireweed Metals Corp. Reports the First Assay Results from its 2023 Exploration at the Macmillan Pass Project, Yukon

Fireweed Metals Corp. to Commence Gold Exploration Program At Macmillan Pass in an Emerging Gold District, Yukon

Fireweed Metals Corp. Announces Near-Term Plans for Mactung Project

Fireweed Metals Corp. Announces Mineral Resources for the Mactung Project

Fireweed Metals Corp. Starts Largest Ever Drill Program At Macmillan Pass Focused on Expansion of All Mineralized Zones

Fireweed Metals Corp. Announces Board Resignations

Fireweed Drills 56.5 M of 6.34% Zinc and 36.4 g/t Silver Including 11.6 M of 10.9% Zinc and 43.5 g/t Silver

Fireweed Metals Corp. Drills 12.5 M of 11.17% Zinc Including 6.2 M of 15.84% Zinc At Boundary Main

Fireweed Metals Corp. Commences 2022 Drill Program At Macmillan Pass

Fireweed Metals Corp. Commences Gravity Survey at Gayna River Zinc Project

Fireweed Zinc Ltd. Mobilizes Field Crews for $10 Million Drill Program At Macmillan Pass

Fireweed Zinc Ltd. (TSXV : FWZ) signed binding Letter of Intent to acquire Mactung Tungsten Project from Government of the Northwest Territories for CAD 15 million.

Fireweed Zinc Ltd. (TSXV:FWZ) acquired Gayna River Zinc project located in Northwest Territories, Canada.

Fireweed Zinc Ltd. announced that it has received CAD 13.157511 million in funding from Teck Resources Limited, Ibaera Capital Advisers Pty Ltd

Fireweed Zinc Ltd. Drills 6.9% Zinc, 5.0% Lead, and 48.7 g/t Silver over 11.7 m True Width at Tom East

Fireweed Zinc Ltd. announced that it has received CAD 5.1784 million in funding

Fireweed Zinc Ltd. announced that it expects to receive CAD 3.6 million in funding

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