Yukon Government and Ross River Dena Council First Nation Reach Agreement in Principle on $71 Million in Upgrades to Macmillan Pass Project Area Roads
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NEWS RELEASE
March 3, 2020 TSXV: FWZ
Yukon Government and Ross River Dena Council First Nation Reach Agreement in
Principle on $71 Million in Upgrades to Macmillan Pass Project Area Roads
Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ)
is pleased to report that yesterday the Government of Yukon and the Ross River Dena Council (RRDC)
First Nation announced that they have reached an agreement in principle for the North Canol Road
(Yukon Highway 6) and the Robert Campbell Highway under the umbrella of the Yukon Resource
Gateway Project. The North Canol Road is the access road to Fireweed’s large Macmillan Pass Project
and the Robert Campbell Highway is part of the transportation route from the project to shipping port.
The agreement in principle describes road upgrades which will include bridge replacement and safety
improvements on the North Canol Road and resurfacing of 59.5 kilom etres of the Robert Campbell
Highway. The project has an estimated capital cost value of approximately $71 million with strong input
and involvement of First Nations members and businesses . Follow the link for the full text of the
announcement: https://yukon.ca/en/news/third-yukon-resource-gateway-project-agreement-reached .
The agreement in principle brings the North Canol Road upgrades under the umbrella of the Yukon
Resource Gateway Project which is a $360 million co mmitment by Canadian Federal and Yukon
Territorial Governments to fund building and upgrading of resource project roads in Yukon. Upgrading of
the North Canol Road to carry heavy truck traffic was a major cost item in Fireweed’s 2018 Preliminary
Economic Assessment (“PEA”) comprising a full 25% of capital expenditures to build the project (see
Fireweed news release dated May 23, 2018 for details).
Announcement Quote from Minister of Energy, Mines and Resources Ranj Pillai:
“This agreement in principle wi th the Ross River Dena Council will provide valuable capacity and
economic opportunities to the community and is a tremendous step forward for reconciliation. We look
forward to finalizing this agreement and working together with the community to improve t his critical
infrastructure to enable mineral industry development.”
Announcement Quote from Chief Jack Caesar of the Ross River Dena Council:
“Our community has been in need of improvements to the North Canol and paving for the Campbell
Highway for many years. We have some of Yukon’s largest prospective mineral and remediation projects
but we had been the only community in Yukon without a paved highway. This important project will
finally see our members have a safe road to drive to and from work, a road that helps ensure we are
connected to opportunity.”
Quote from Fireweed CEO Brandon Macdonald:
“This announcement is a major step forward toward eventual mine development at Macmillan Pass. I
want to thank the Yukon Government and the Ross River Dena Council for their efforts to get this
agreement in principle done as well as their ongoing cooperation and support for our project over the
years.”
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North Canol Road (Yukon Highway 6) Background
The North Canol Road (Yukon Highwa y 6) was built by the US Army Corps of Engineers in 1942- 44 as
part of the construction of the Alaska Highway during the w ar. When the war ended, the road was
allowed to deteriorate but then in 1972 was reopened from Ross River to the Northwest Territories border
to allow access for mineral exploration and tourism. Over the ensuing years the road was maintained to
minimal standards as a rough but drivable bush road. Since 2017 when Fireweed began working on the
Macmillan Pass P roject, the Yukon Government has carried out additional maintenance work including
replacement of four bridges . Yesterday’s announcement of initial near term funding under the Yukon
Resource Gateway Project and potential access to additional future funding is a big step forward to ward
eventual mine development at Macmillan Pass.
Qualified Person Statement
Technical information in this news release has been approved by George Gorzynski, P.Eng., Director, 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 district-scale 544 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100%
owned Tom and Jason zinc -lead-silver deposits with current large Mineral Resources and a PEA
economic study (see Fireweed news releases dated January 10, 2018, and May 23, 2018, respectively, and
reports filed on www.sedar.com for details) as well as the Boundary Zone, Tom North Zone and End
Zone which have significant zinc-lead -silver mineralization drilled but not yet classified as mineral
resources. The project also includes option agreements on large blocks of adjacent claims (MAC, MC,
MP, Jerry, BR and NS) which cover exploration targets in the district where previous and recent work
identified zinc, lead and silver prospects, and geophysical and geochemical anomalies in prospective host
geology.
Additional information about Fireweed Zinc and its Macmillan Pass Zinc Project including maps and drill
sections 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.
Cautionary 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, 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, politi cal 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.
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
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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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FIGURE 1: MACMILLAN PASS PROJECT LOCATION
AND NORTH CANOL ROAD ACCESS
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FIGURE 2: MACMILLAN PASS PROJECT MINERALIZATION
SHOWING LOCATION OF TOM, JASON, BOUNDARY AND END ZONES