Fireweed Metals Corp. and Ross River Dena Council Sign Exploration and Collaboration Agreement for Mactung and Macpass Projects

On February 10, 2026, Fireweed Metals announced the signing of an Exploration and Collaboration Agreement (ECA) with the Ross River Dena Council (RRDC). This agreement covers the Mactung (Tungsten) and Macpass (Zinc-Lead-Silver) projects in Yukon. Key provisions include: - A formal commitment that Fireweed will only proceed with project development if it receives the "free, prior, and informed consent" (FPIC) of the RRDC. - The use of the Tu Lídliini Assessment Process (TAP), a community-led Indigenous assessment, as the vehicle for this consent. - Capacity funding for RRDC participation and commitments for employment, contracting, and training for RRDC members. - Measures to protect culturally significant sites, water, and lands.

This agreement is a primary de-risking milestone. In the Yukon jurisdiction, projects without clear First Nations support frequently face insurmountable permitting delays or litigation. - Permitting Certainty: By embedding the TAP process now, Fireweed potentially bypasses the "social license" ambiguity that plagues many Canadian developers. - Veto Risk: Critically, the CEO's statement confirms the project will only proceed with RRDC consent. This effectively grants the RRDC a veto over the Final Investment Decision (FID). While this builds trust, it creates a binary risk for investors: no consent equals no mine, regardless of economic feasibility. - Cost of Business: Capacity funding and preferential contracting are standard in modern ECAs but represent an ongoing overhead that must be factored into the upcoming Mactung Feasibility Study. - Strategic Alignment: This follows a pattern of heavy government support (over $35M in combined US/Canadian grants), suggesting the project is viewed as a "must-succeed" for North American critical mineral supply chains.

Fireweed Metals is a Lundin Group company focused on the Macmillan Pass (Macpass) District in Yukon. - Macpass Project: One of the world’s largest undeveloped zinc-lead-silver resources. The 2024 MRE showed 56Mt Indicated at 7.27% ZnEq and 48.5Mt Inferred at 7.48% ZnEq. - Mactung Project: Adjacent to Macpass, it is described as the world's largest high-grade tungsten deposit. It is currently at the Feasibility stage. - Jurisdiction: Yukon/NWT border, Canada. Requires significant infrastructure (North Canol Road and power lines).