Fireweed Metals Commences 2026 Field Program

Executive Summary

• Fireweed Metals has launched its 2026 Field Program, initiating approximately 9,500 m of combined diamond and sonic drilling across its Mactung and Macpass critical metals projects.
• Drilling is currently underway at Macpass (up to 7,500 m) to conduct step-out and resource expansion drilling, while Mactung (up to 2,000 m) focuses on geotechnical, hydrogeological, and geological modeling work to support an updated Feasibility Study targeting early 2027 completion.
• The company is advancing preliminary engineering and baseline environmental studies for the North Canol Infrastructure Improvements project, supported by Natural Resources Canada funding, with regulatory submissions targeted for later in 2026.

Key Details

• Total Drilling Program: ~9,500 m of combined diamond and sonic drilling planned for 2026 across Mactung and Macpass.
• Macpass Drilling (~7,500 m): Focuses on step-outs around known Zn-Pb-Ag-Ga-Ge mineralization at Tom South and Tom East. Initial work includes completing hole TS25-003, a ~300 m step-out down dip of the inferred Tom South resource margin, which was suspended in laminated sulphide mineralization at the end of 2025. TS25-003 is located 300 m down dip of the notable 2025 intercept TS25-001D1: 54.28 m (30 m true width) of 33.23% ZnEq (18.20% Zn, 13.93% Pb, 161.0 g/t Ag).
• Tom East Drilling (~1,500 m): Targets high-grade expansion areas, leveraging 2024–2025 muon survey imaging to generate comprehensive subsurface density images.
• Mactung Drilling (~2,000 m): Supports geotechnical and hydrogeological studies for the updated Feasibility Study. Activities include geological/block model updates, installation of groundwater monitoring wells, geotechnical boreholes/test pits for soil/rock/permafrost data, and historical core scanning for short wave infrared and multi-element data.
• Regional Exploration: Ground gravity surveys, soil sampling, and prospecting across the ~948 km² land package targeting Zn-Pb-Ag and intrusion-related gold.
• Feasibility Study & Engineering: Updated Mactung Feasibility Study is ongoing with metallurgical/geometallurgical programs and mine/processing/infrastructure designs advancing. Target completion: early 2027.
• North Canol Infrastructure Improvements (PNCII): Funded by Natural Resources Canada's First and Last Mile Fund. 2025 work included surveying, LiDAR, and preliminary engineering for road/transmission upgrades. 2026 activities include ongoing surface water, aquatic, wildlife baseline studies, fisheries, heritage, and borrow source geotechnical investigations. Continued engagement with federal, territorial, and Indigenous governments is ongoing, with regulatory document submissions targeted for later in 2026.

Notable Quotes

• Ian Gibbs, President and CEO: "We are very excited to have commenced field operations across multiple critical metals projects. The 2026 Mactung Field program and ongoing engineering studies will continue to inform the updated Mactung Feasibility Study, which is ongoing and scheduled for completion early in 2027. Exploration drilling at Macpass will continue where it left off at the end of the 2025 field season, with the continuation of hole TS25-003, a ~300 m step-out down dip of the inferred resource at Tom South that was suspended in laminated sulphide mineralization at the end of the 2025 field season. We are confident in the prospectivity of the areas surrounding Tom South and Tom East for the discovery of additional high-grade mineralization."