FIREWEED METALS CORP. reported additional assay results from its 2023 exploration at the Macmillan Pass Project, Yukon, and provide an update from its largest ever drill program. Results from the Boundary Feeder Zone Target.

Following up on drilling from 2022 and the initial results of the 2023 program which targeted a gap in the drilling between two of Fireweed?s best-ever drillholes at Boundary Zone, NB22-002 and NB22-023 (see Fireweed news releases dated June 22, 2023, November 22, 2022, and March 2, 2023), Fireweed has continued to test the high-grade feeder zone target that is interpreted to occur as at least one stratiform layer within a sediment hosted massive sulphide system. Both the initial results from 2023 as well as those from 2022 intersected very wide, high-grade zones and demonstrate continuity of the mineralized system. Fireweed has successfully intersected pyrite-sphalerite-galena as stratiform massive sulphides, laminated mineralization, replacement mineralization, veins, and breccias in the 2023 step-outs.

Zinc mineralization has been intersected in every step-out hole that has been completed to depth at both Boundary Zone and the Tom deposit. Assays have been received for the first eight holes, with holes NB23-004, NB23-005, NB23-006, NB23-007, and NB23-008 reported in this news release along with brief logging summaries for an additional 34 holes that have tested targets at Tom and Boundary Zone. Hole NB23-007 intersected a lower interval of 118 m grading 15.1% zinc, 2.8% lead, and 85.8 g/t silver that demonstrates continuity of grade with the exceptional results from NB22-002, as well as an upper interval comprising 82.5 m of massive sulphide grading 11.9% zinc, 2.2% lead, and 81.2 g/t silver.

The upper and lower stratiform massive sulphide zones were intersected at a low angle to bedding and have estimated true widths of approximately 15 m and 40 m, respectively. Hole NB23-004 intersected two intervals of sphalerite and galena mineralization, with a 33.43 m intersection (22 m true width) correlated with the stratiform layer of mineralization grading 8.0% zinc, 2.0% lead, and 59.2 g/t silver and a 20.49 m intercept of vein and replacement style sulphides grading 4.9% zinc. Hole NB23-006 intersected two zones, a 32.65 m (16 m true width) intercept of laminated sulphides grading 4.4% zinc and 12.4 g/t silver, and a 38.7 m interval of vein and replacement mineralization grading 5.6% zinc and 6.7 g/t silver. Hole NB23-005 intersected a 25.25 m (22 m true width) interval of semi-massive, laminated and stratiform sulphide containing 6.4% zinc, 0.7% lead, and 31.9 g/t silver including 9.5 m (8.3 m true width) of 12.2% zinc, 1.3% lead, and 66.9 g/t silver.

Hole NB23-008 intersected a 44.7 m interval of volcanic hosted semi-massive sulphide containing 6.5% zinc and 9.6 g/t silver, including 16.3 m of 10.3% zinc, and 11.3 g/t silver. This hole contained another interval of 35.4 m of vein-mineralization grading 5.2% zinc, and 8.8 g/t silver, including 11.5 m of 10.7% zinc, and 13.5 g/t silver (see Photo 1). Step-out drilling at Boundary Zone targeting the massive?stratiform zone has resulted in many wide intersections of zinc-lead mineralization with assays pending.

The most significant intersections can be seen on Long Section M-M? and are listed here: NB23-011 intersected 45 m of massive, semi-massive and brecciated sulphide. NB23-012 intersected 48 m of massive to laminated sulphide. NB23-013 intersected 25 m of massive sulphide.

NB23-016 intersected 70 m of feeder proximal massive sulphide. NB23-019 intersected 60 m of massive sulphide. NB23-022 intersected 55 m of massive sulphide.

NB23-028 intersected 140 m of feeder-proximal laminated to massive sulphides. Thirty-one holes have been drilled at Boundary Zone so far in 2023 and have tested the laminated stratiform mineralization and massive sulphide zones. The geometry and stratigraphic sequence intersected in these holes continue to support the idea that the laminated and massive sulphide mineralization are part of the same geological layer at Boundary Zone, forming an approximately tabular stratiform zone.

Step out drilling down-dip intersected abundant galena, supporting the presence of the conceptual feeder zone. While this remains a preliminary interpretation of the available geological data, deep testing provided by NB23-007 supports this model, extending the depth of mineralization in the massive stratiform layer from surface to at least 400 m, with the zone becoming higher grade and wider, where it remains open at depth. Extensive vein, breccia, and replacement mineralization at Boundary Main occurs both above and below the main stratiform laminated massive sulphide zone.

Many wide intervals of vein, breccia and replacement style sphalerite mineralization have been encountered in 2023 step-out holes and several infill holes. 2023 Drill Program Drilling Update The 2023 program remains in full swing with five diamond drill-rigs, targeting ~22,000 m of drilling mostly focused on Boundary, Tom, and Jason zones with >14,500 m completed thus far. The drill program will focus on step-out targets at Boundary Zone, Jason, and Tom, as well as test several exploration targets away from the known zones.

Drill penetration rates in the first 29 holes was between 17?50% faster than historical performance. The higher than forecast performance of the drilling has allowed the bulk of the original planned drilling to be completed earlier than planned providing an opportunity to test additional targets.