FWZ.V · 2018-09-20 12:00:00

Fireweed Drills 21.1% Zinc, 13.5% Lead and 243 g/t Silver over 16.41 m in a Step-Out Hole at Tom

Drill Results

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NEWS RELEASE

September 20, 2018 TSXV: FWZ

Fireweed Drills 21.1% Zinc, 13.5% Lead and 243 g/t Silver over 16.41 m

in a Step-Out Hole at Tom East

Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ)

is pleased to announce the first drill results from its 2018 drill program on the Macmillan Pass Project in

Yukon, Canada.

Highlights

• Hole TS18-004 intersected 21.1% Zinc, 13.5% Lead and 243 g/t Silver over 16.41 meters (true

width interpretations range from approximately 5 m to 12 m depending on structural

interpretations*)

• This hole was drilled below the Tom East Zone to test the downdip extension of the resource. The

zone remains open for further expansion.

• Additional drilling has been completed and assays are pending from the Tom, Jason and End Zone

areas

Drill hole TS18-004 intersected the Tom East zone approximately 50m down dip from the nearest known

mineralized intersection. The drill hole intersected massive and laminated sulphide similar to feeder

proximal mineralization encountered elsewhere in the Tom East and Tom West Zones. Sulphide minerals

include sphalerite, ga lena, pyrite, and pyrrhotite and are hosted within diamictite and carbonaceous

mudstones of the Macmillan Pass member of the Portrait Lake Formation (Earn Group).

The structural complexities encountered in hole TS18-004 suggest that potential extensions to the Tom East

zone may be folded, presenting an opportunity to drill -test areas of structural thickening or higher grades

in hinge-zones of folds. Tom East remains open at depth and there is further upside potential in resolving

the geometry of the fold hinge zone.

Results from these first drill assays received are as follows:

TOM EAST ZONE DRILL RESULTS

Hole No. From To Interval Estimated True Width Zinc Lead Silver

(meters) (meters) (meters) (meters)* (%) (%) (g/t)

TS18-004 312.15 328.56 16.41 5.0-12.3 21.14 13.55 242.8

Including: 319.00 327.70 8.70 2.6-6.5 23.88 19.42 332.9

Including: 319.00 322.00 3.00 1.0-2.3 35.66 18.49 312.7

Including: 326.15 327.70 1.55 0.5-1.2 15.67 35.65 542.1

*Structural complexity in the area makes true width estimates difficult without further drilling. The

estimates in the table are based on core angles and known mineralization orientation respectively range

from 5-12 m depending on structural interpretations.

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Assay results from additional drill holes are still pending as assays results have been slow in arriving due

to generally large volumes of samples in the laboratories. As these first assays are received , the drill

program at Macmillan Pass has now finished and field crews are now finishing up, winterizing the camp,

and demobilizing for the season before winter conditions set it . The total m eters drilled during the 2018

program were less than initially planned as management took a prudent budget -conscious approach to

preserve cash given current market conditions and focused additional time on cost effective methods for

targeting new discoveries on the large property including the field work described below . Maps, sections

and a table of drill holes completed this year with notes on targets tested are attached to this news release

and posted on www.FireweedZinc.com .

2018 Drilling Summary

During the 2018 season, a total of 5,497 meters of drilling was completed in 20 holes. This drilling

comprised 2,965 meters in 11 (mainly step out) holes at Tom West, 748 meters in two holes (step out and

infill) at Tom East, 678 meters in one step out hole at Jason South, 429 meters in four step out and

confirmation holes at End Zone and 677 meters in two holes on new targets.

2018 Field Work Summary

Field work began in early June (see Fireweed news release dated June 5, 2018) with geophysical surveying

and geochemical sampling orientation grids in the Tom, Jason and End Zone areas to optimize exploration

methodologies. This test work demonstrated that buried mineralization can be detected using a combination

of conventional and new exploration technologies, guided by geological mapping and modern exploration

concepts. The technologies determined to best detect zinc -lead-silver mineralization in the district are:

geophysical surveying comprising ground gravity with passive seismics; and geochemical B/C horizon and

soil gas hydrocarbon (SGH) soil sampling. Large gravity and soil sampling grids were completed and

geological mapping was carried out in key areas. In total, 221.9 line kilometers of gravity surveying have

been completed, covering approximately 45.5 km2, and 2,901 geochemical B/C horizon and 2,489 SGH

soil samples have been submitted for analyses.

Results received to date from the gravity, geochemistry and geological work are identifying new high

priority drill targets with potential for new discoveries.

CEO Statement

Brandon Macdonald, CEO, stated “We are very pleased with the exceptional results from this first drill hole

demonstrating again the propensity for these mineralizing systems to produce high grades. The results from

TS18-004 show that Tom East is not only open for expansion but can be grown while producing grades

well above the zone average. With these first drill assays now in, we look forward to continuing releases of

drill results from the multipl e zones tested this summer as well as results from the large program of

geophysics, geochemistry and mapping carried out on the property.”

Notes on sampling and assaying:

The drill core logging and sampling program is carried out under a rigorous quality assurance / quality

control program using industry best practices. Drill intersections are all HQ3 (split tube) size core (61.1mm

/ 2.4-inch diameter) with recoveries typically above 85%. After drilling, the core is logged for geology,

structure and geotechnical characteristics, marked for sampling, and photographed on site. The cores for

analyses are marked for sampling based on geological intervals with individual samples 1.5 meters or less

in length. The core is cut in half lengthwise with a rock saw at the core facility on site, with half -core

samples bagged and sent by reliable transport to the laboratory, and the other half -cores are stored on site

for future reference. Intersections selected for metallurgical testing are cut in half with a rock saw and then

quartered; one quartered core is archived on site, one quartered core is sent for assay, and the half -core is

sent for metallurgical testing. A total of 5% assay standards and 5% blanks are inserted into every sample

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shipment as a quality control m easure and, after analyses were received, were found to be acceptable.

Samples are sent to the Bureau Veritas (formerly Acme Labs) preparation laboratory in Whitehorse, Yukon

where the samples are crushed and pulverized to 85% passing 200 mesh size pulps. A 250- gram split of

each pulp is then sent to the Bureau Veritas labor atory in Vancouver, B.C. and analyzed by 1:1:1 Aqua

Regia digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP -ESI/ICP-MS) multi-

element analyses (BV Code AQ270). All samples are also analyzed 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.

Technical information in this news release has been approved by Gilles Dessureau, P.Geo, Vice President

Exploration and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.

About Fireweed Zinc Ltd. (TSXV:FWZ): Fireweed Zinc is a public mineral exploration company

focused on zinc and managed by a veteran team of mining industry professionals. The Company is

advancing its large 470 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned

Tom and Jason zinc-lead-silver deposits with recently announced new Mineral Resources and a PEA

economic study (see Fireweed news releases dated January 10, 2018 and May 23, 2 018 respectively and

reports filed on www.sedar.com for details). The project also includes option agreements on large blocks

of adjacent claims (MAC, MC, MP, Jerry, BR and NS) which cover projected extensions of mineralization

from the Jason area and areas where previous exploration identified zinc, lead and silver geochemical

anomalies in critical host geology.

Additional information about Fireweed Zinc and its Macmillan Pass Project, can be found on the

Company’s website at www.FireweedZinc.com and at www.sedar.com .

ON BEHALF OF FIREWEED ZINC LTD.

“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.

Forward-Looking Statements

This news release may contain “forward-looking” statements and information relating to the Company and the

Macmillan Pass Project 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, cha nges 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 fa ctors,

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.

Additional risks are set out in the Company’s prospectus dated May 9, 2017 and filed under the Company’s profile on

SEDAR at www.sedar.com. 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.

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2018 Drilling - Cross Section

Tom East Deposit

Macmillan Pass Project

Fireweed Zinc Ltd.

SCALE 1 : 3000

-20 0 20 40 60 80 100

(m)

NAD83(CSRS) / UTM zone 9N

AZIMUTH = 63.5°

TOLERANCE +/- 25 m

SECTION TOP, BOT 1721 m 1263 m

EXTENTS 482.4 m 457.8 m

REF. PT. E, N 442070 m 7004403 m

SECTION SPECS:

HOLES PLOTTED

TOTAL 16

TS052 TS062 TS091 TS091W1

TS092 TS18-004 TS18-010 TS91-015

TU005 TU006 TU012 TU013

TU030 TU031 TU034 TU061

ASSAY PROFILES

Laminated sph+gn+baLSGB

Zn (max 38.6% Zn)

Mineralized ZoneMINZ

Pb (max 38.1% Pb)

Semi-massive sulphideSMSX

Massive sulphideMXSX

Laminated sulphideLXSX

SandstoneSDST

Sandy MudstoneSDMD

SiltstoneSTST

Fault ZoneFLTZ

ConglomerateCONG

CasingCASE

DiamictiteDIAM

MudstoneMDSTLith1_Code

ROCK CODES PAT LABEL DESCRIPTION

2018

DH_Descr

Estimate

HOLE TRACES

RESOURCE

COLOUR

CODE

Tom_Topo

TOPOGRAPHY

7004350N

7004400N

7004450N

7004500N

+25 m

-25 m

TS035

TS036

TS037

TS051

TS052

TS053

TS055

TS061

TS062

TS091

TS091W1 TS092 TS18-004

TS18-010 TS91-015

TU005

TU006

TU012

TU013

TU014

TU030

TU031TU034

TU061

441900 E441900 E

441950 E441950 E

442000 E442000 E

442050 E442050 E

442100 E442100 E

442150 E442150 E

442200 E442200 E

442250 E442250 E

1300 RL 1300 RL

1350 RL 1350 RL

1400 RL 1400 RL

1450 RL 1450 RL

1500 RL 1500 RL

1550 RL 1550 RL

1600 RL 1600 RL

1650 RL 1650 RL

1700 RL 1700 RL

7004300 N7004300 N

7004350 N7004350 N

7004400 N7004400 N

7004450 N7004450 N

7004500 N7004500 N

1300 RL 1300 RL

1350 RL 1350 RL

1400 RL 1400 RL

1450 RL 1450 RL

1500 RL 1500 RL

1550 RL 1550 RL

1600 RL 1600 RL

1650 RL 1650 RL

1700 RL 1700 RL

MDST

DST MXSX

MDST

MXSX

MDST

LXSX MINZ

MDST MDST

CASE

MDST

CONG STST

MINZ

MISC

MDST

MDST MDST

MINZ MDST

MINZ

WEDG

NOCO

MINZ

MDST

CASE

MDST

MXSX MDST

MINZ

MDST

FLTZ MDST MXSX

CONG

DST

CONG

DST

CONG

DIAM

LSGB

XSX

DIAM

DST

SDST

DIAM

DST

FLTZ

DST

FLTZ

DST

MDST

CONG

MDST

SDMD

MDST

STST

MDST

CONG

SMSX

MDST

STST

MDST

CONG

MDST

MINZ

MDST

MINZ

MDST

CONG

MDST

STST

MDST

MINZ

NOCO

MINZ

MDST

CONG

DIAM

DST

INZ

NOCO

DST

MDST

MINZLXSX

MDST

MINZ

TS052

200m

TS062

200m

TS091

TS091W

TS09

200

400

200m

200

400

TS91-015

TU005

TU006

TU012

TU013

TU030

TU031

TU034

TU061

TS18-004

TS18-010

TS18-004

2018 Drilling - Long Section

Tom East Deposit

Macmillan Pass Project

Fireweed Zinc Ltd.

SCALE 1 : 3000

-20 0 20 40 60 80 100

(m)

NAD83(CSRS) / UTM zone 9N

AZIMUTH = 141°

SWING ANGLE -25°

TOLERANCE +/- 170.5 m

SECTION TOP, BOT 1721 m 1263 m

EXTENTS 482.4 m 457.8 m

REF. PT. E, N 442078 m 7004332 m

SECTION SPECS:

Tom_Topo_Canvec50k.GRD

441950E

442000E

442050E

442100E

442150E

442200E

441950 E441950 E

442000 E442000 E

442050 E442050 E

442100 E442100 E

442150 E442150 E

442200 E442200 E

1300 RL 1300 RL

1350 RL 1350 RL

1400 RL 1400 RL

1450 RL 1450 RL

1500 RL 1500 RL

1550 RL 1550 RL

1600 RL 1600 RL

1650 RL 1650 RL

1700 RL 1700 RL

7004150 N7004150 N

7004200 N7004200 N

7004250 N7004250 N

7004300 N7004300 N

7004350 N7004350 N

7004400 N7004400 N

7004450 N7004450 N

7004500 N7004500 N

1300 RL1300 RL

1350 RL1350 RL

1400 RL1400 RL

1450 RL1450 RL

1500 RL1500 RL

1550 RL1550 RL

1600 RL1600 RL

1650 RL1650 RL

1700 RL1700 RL

200m

HISTORIC INTERSECTIONS

Zinc (intersections greater than 6% Zn)

TS18-004

TS18-010

ASSAY PROFILES

Zinc (max 38.6% Zn)

Lead (max 38.1% Pb)

2018

DH_Descr

Estimate

HOLE TRACES

RESOURCE

COLOUR

CODE

Tom_Topo

TOPOGRAPHY

Appendix to Fireweed Zinc news release dated September 2018.

Macmillan Pass 2018 Drilling Summary

Hole No. Zone Drill Target Results

TS18-001 Tom West Step out hole at south end of Tom West Zone No zone intersected. Intersected fault where zone was projected*.

TS18-002 Tom West Step out hole at south end of Tom West Zone Zone intersected. Samples submitted to laboratory. Assays pending.

TS18-003 Tom West Step out hole at south end of Tom West Zone Short zone intersection truncated by fault*. Assays pending.

TS18-004 Tom East Step out hole below Tom East Zone Assays reported in this news release above

TS18-005 Tom West Tom West infill to test zone of historic poor recovery. Zone intersected. Samples submitted to laboratory. Assays pending.

TS18-006 Tom West Step out hole at south end of Tom West Zone No zone intersected. Intersected fault where zone was projected*.

TS18-007 Tom West Infill hole at north end of Tom West Zone. Zone intersected. Samples submitted to laboratory. Assays pending.

TS18-008 Tom West Tom West infill to test zone of historic poor recovery. Zone intersected. Samples submitted to laboratory. Assays pending.

TS18-009 Tom West Step out hole at north end of Tom West Zone. Zone intersected. Samples submitted to laboratory. Assays pending.

TS18-010 Tom East Infill hole in Tom East Zone Zone intersected. Samples submitted to laboratory. Assays pending.

TS18-011 Tom West Infill hole at north end of Tom West Zone. Zone intersected. Samples submitted to laboratory. Assays pending.

TS18-012 Tom West Tom West infill to test zone of historic poor recovery. Zone intersected. Samples submitted to laboratory. Assays pending.

TS18-013 Tom area exploration target Test of exploration target east of Tom West Zone No significant intersection

TS18-014 Tom West Infill hole at south end of Tom West Zone Zone intersected. Samples submitted to laboratory. Assays pending.

JS18-001 Jason South Step out hole up-dip of Jason South No zone intersected. Drill hole passed between two projected zones in a fault

EZ18-001 End Zone Infill hole to confirm historic drill results. Zone intersected. Samples submitted to laboratory. Assays pending.

EZ18-002 End Zone Step out hole to extend End Zone. Zone intersected. Samples submitted to laboratory. Assays pending.

EZ18-003 End Zone Step out hole to extend End Zone. Zone intersected. Samples submitted to laboratory. Assays pending.

EZ18-004 End Zone Step out hole to extend End Zone. Zone intersected. Samples submitted to laboratory. Assays pending.

EZ18-005 End Zone area exploration target Test of exploration target 200m west of End Zone No significant intersection

Notes:

* A historic 1990 drill hole intersected a wide section of the Tom West Zone (14.1% Zn across 14.6m) on the other side of this fault at depth

(see www.FireweedZinc.com, Presentation, Slide 17).

These 2018 drillholes will allow precise location of this fault in planning future drilling of the Tom West Zone on the other side of this fault.

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