Fireweed Commences 2022 Drill Program at Macmillan Pass
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NEWS RELEASE
26th July 2022 TSXV: FWZ
OTCQB: FWEDF
FSE:20F
FIREWEED COMMENCES 2022 DRILL PROGRAM AT MACMILLAN PASS
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”)
(TSXV: FWZ; OTCQB: FWEDF, formerly known as Fireweed Zinc Ltd.) is pleased to
announce the 2022 diamond drilling program has started at the Macmillan Pass zinc-lead-
silver Project, Yukon, Canada.
Highlights
• Drilling has begun with plans to complete over 7,000 m using 4 drills
• Two of four drills have started drilling the first holes of the 2022 program
• Three drills will focus on Boundary and Boundary West zones, with the fourth
targeting Tom and Jason zones
CEO Statement
Brandon Macdonald, CEO, stated “We are finally drilling! After a delayed start-up mainly
due to a late spring, drilling has begun. The first two of four drills are turning with the final
drill arriving at site shortly. Even with the late start we anticipate drilling over 7,000 metres
this summer to make it the largest drill program Fireweed has ever carried out at the
Project. ”
2022 Diamond Drill Program
The 2022 program includes four diamond drill-rigs, targeting over 7,000 m of drilling divided
between four zones, a reduction from the expected 8 ,000 m initially announced due to the
late start. The Boundary zones are open in every direction, and the 2022 program has been
designed to t est step -outs around the peripheries of Boundary and Boundary West, in
addition to testing a potential connection between the two zones. The step-outs will include
testing potential down -dip continuation of the recently discovered high -grade stratiform
mineralization at Boundary West (see Fireweed news release dated March 10, 2022), and
testing for additional massive sulphide mineralization in the near -surface. Three of the rigs
will operate at Boundary and Boundary West where the majority of the drilling will occur.
The fourth rig will drill Tom West, Tom North, Jason, and Jason South subzones targeting
select extensions and other parts of these four large zinc -lead-silver deposits. The holes at
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Tom West will focus on providing infill within high -grade zones where the current mineral
resource is supported by small-diameter historic diamond drill holes with very poor recovery
in the higher-grade portions of the holes. Fireweed sees potential to increase zinc, lead, and
silver grades in these areas by drilling modern lar ger diameter holes, as demonstrated in
previous Fireweed drill programs (see Fireweed news releases dated 10th October 2018; 13th
November, 2018; 20th August 2019; 10th September 2019). The drilling at Tom North will target
a step-out of the near-surface mineralization that is potentially amenable to open-pit mining.
The drilling at Jason and Jason South will target high-grade step-outs.
By the end of the 2022 campaign, Fireweed will have four seasons of additional drill data to
inform new mineral resources for the Project, including an inaugural resource for the
Boundary, Boundary West, End Zone, and Tom North zones, and an updated resource for
Tom West, Tom East, Tom Southeast, Jason and Jason South subzones.
Qualified Person Statement
Technical information in this news release has been approved by Gilles Dessureau, P.Geo.,
M.Sc., V.P. Exploration and a ‘Qualified Person’ as defined under Canadian National
Instrument 43-101.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F): Fireweed Metals is a
public mineral exploration company on the leading edge of Critical Minerals project development.
The Company has three projects located in northern Canada:
• Macmillan Pass Zinc- Lead-Silver Project: Fireweed owns 100% of the district -scale
940 km2 Macmillan Pass Project in Yukon, Canada, which is host to the Tom and Jason
zinc-lead-silver deposits with current Mineral Resources and a PEA economic study (see
Fireweed news releases dated 10 th January 2018, and 23 rd May 2018, respectively, and
reports filed on www.sedar.com for details), as well as the Boundary Zone, Boundary West
Zone, Tom North subzone and End Zone which have significant zinc- lead-silver
mineralization drilled but not yet classified as mineral resources. The project also includes
large blocks of adjacent claims with kno wn showings and significant upside exploration
potential. The large 2022 program has begun with plans to complete over 7,000 metres of
drilling to inform new and updated mineral resources.
• Mactung Tungsten Project: The Company has a binding Letter of Intent to acquire 100%
interest in the 37.6 km2 Mactung Tungsten Project located adjacent to the Macmillan Pass
Project. Mactung contains historic resources that make it one of the largest and highest -
grade undeveloped tungsten resources in the world. Located i n Canada, it is one of the
rare large tungsten resources outside of China. Plans for 2022 include due diligence and
validation work on historic data in order to support a new mineral resource estimate
followed by a Preliminary Economic Study.
• Gayna River Zinc -Gallium-Germanium Project: Fireweed has 100% of the 128.75 km 2
Gayna River project located 180 kilometres north of the Macmillan Pass project. It is host
to extensive critical minerals mineralization including zinc, gallium and germanium as well
as lea d and silver, outlined by 28,000 metres of historic drilling and significant upside
potential. The 2022 work program has begun and consists of an airborne LiDAR
topography survey, ground geophysics survey and historic data compilation.
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In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed
(OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and
international companies and is DTC eligible for enhanced electronic clearing and settlement. The
Company is current in its reporting and undergoes an annual verification and management
certification process. Investors can find Real -Time quotes and market information for the
Company on www.otcmarkets.com . In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock
Exchange.
Additional information about Fireweed and its projects can be found on the Company’s website
at
www.FireweedMetals.com and at www.sedar.com .
ON BEHALF OF FIREWEED METALS CORP.
“Brandon Macdonald ”
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.
Cautionary Statements
Forward Looking Statements
This news release may contain “forward- looking” statements and information relating to the
Company and its projects that are based on the beliefs of Company management, as well as
assumptions made by and information currently available to Company management. Such
statements reflect the current risks, uncertainties and assumptions related to certain factors
including but not limited to, without limitations, exploration and development risks, 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 h azards, 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, and one -time events. Should any one or more risks or uncertainties
materialize or change, or should any underlying assumptions prove incorrect, actual results and
forward-looking statements may vary materially from those described herein. The Company does not
undertake to update forward‐looking statements or forward‐looking information, except as required
by law.
Contact:
Brandon Macdonald
Phone: (604) 646-8361
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Map 1: A map of the Macmillan Pass Project showing the location of Tom, Jason, End and
Boundary zones as well as the Mactung Project.