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Fireweed Zinc Ltd. (FWZ.V)

TSXV - TSXV Real Time Price. Currency in CAD
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1.0300+0.0600 (+6.19%)
At close: 3:29PM EST
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Previous Close0.9700
Open1.0000
Bid1.0100 x 0
Ask1.0400 x 0
Day's Range0.9500 - 1.0300
52 Week Range0.3050 - 1.3100
Volume127,017
Avg. Volume169,525
Market Cap57.254M
Beta (5Y Monthly)1.28
PE Ratio (TTM)N/A
EPS (TTM)-0.0280
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est1.40
  • Fireweed provides further details on new discovery at Boundary West, Macmillan Pass
    GlobeNewswire

    Fireweed provides further details on new discovery at Boundary West, Macmillan Pass

    BOUNDARY ZONE 2020 GRAVITY AND DRILLING Map 1 – Boundary Zone: Location of 2020 Boundary Zone drill holes, preliminary gravity anomalies and cross section NE-SW (see Cross Section 1). BOUNDARY WEST - NEWS DISCOVERY Cross section 1 – Schematic and preliminary interpretation of the geology of the Boundary West. See Map 1 for section line NE-SW. TABLE 1 Table 1 – Summarized intersected widths of selected intervals of mineralization at Boundary West.VANCOUVER, British Columbia, Nov. 24, 2020 (GLOBE NEWSWIRE) -- FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ) announces that as a result of the most recent drill results discovering new mineralized zones at Boundary, the Company has expanded the search area with strong discovery potential. Two distinct systems were drilled at the new discovery at Boundary West: an upper sequence and a lower sequence of stratiform zinc mineralization. These stratiform systems are overprinted by wide intervals of vein-hosted mineralization. Historic exploration focused only on the upper sequence rock units. The discovery of zinc mineralization in the lower sequence rocks, in addition to the surrounding wide intervals of vein mineralization, greatly expand the search area with strong discovery potential.The upper sequence includes a stratiform, massive-sulphide cap to the system hosted by mid-late Devonian rocks; and a lower sequence of stratiform zinc mineralization hosted in Late Ordovician-Early Silurian rocks. The discovery of Boundary West was originally announced in Fireweed news release dated 24th September 2020.Highlights * 25.6 metres of massive-sulphide pyrite-sphalerite-galena mineralization were intersected by hole NB20-004 in a barite rich section that may represent a replaced barite cap to the system. * Laminated barite-replacement zinc-lead mineralization similar in style to Tom and Jason were intersected in holes NB20-007 and NB20-009. * Significant widths of stratiform zinc mineralization have been intersected in NB20-009 within the same age host rocks as those that host mineralization in the Howard’s Pass district, representing the first discovery of this style of mineralization in the Macmillan Pass district. CEO Statement Brandon Macdonald, CEO, stated, “Boundary West is open in all directions and even though we are at the initial stages of discovery, the early indications of multiple styles of mineralization across wide intervals point to the potential for a very large deposit at Boundary Zone. Adding to this potential is what we are learning from the geology at the new discovery. Historically, exploration in the district focused on the upper sequence Devonian age rocks where the Tom and Jason stratiform deposits are situated. This new discovery clearly demonstrates that the lower sequence Ordovician-Silurian age rocks are also host to significant stratiform zinc mineralization. This along with the wide zones of vein mineralization at Boundary West indicate great potential throughout the property for additional discoveries in lower sequence rocks that have seen little exploration effort in the past.”Boundary West The new discovery at Boundary West was made by drill testing a large gravity anomaly detected in August 2020 (see Map 1). Zinc mineralization at Boundary West is present in two sequences: the upper sequence; and the lower sequence. Each sequence broadly comprises an interval of stratiform zinc mineralization overprinted and underlain by an interval of vein-hosted zinc mineralization (see Table 1 and Cross section 1).Upper sequence The first drillhole into the gravity anomaly, NB20-004, intersected 25.6 metres of massive-sulphide mineralization from 130.6 m to 156.2 m, comprising mostly massive pyrite (>80% vol.) with some sphalerite and minor galena. Relict patches of black mudstone and mudstone fragments containing barite pseudomorphed by silica or pyrite are found within the massive-sulphide. This intersection is in the stratigraphy above Boundary Zone in rocks that are correlative with the host rocks to the Tom and Jason deposits. In subsequent drillholes NB20-007 and NB20-009, laminated sphalerite-galena-pyrite mineralization (similar in style to Tom and Jason) and semi-massive sulphides were intersected at the same stratigraphic interval as the massive-sulphide in NB20-004. Overprinting and underlying the stratiform interval, wide intervals of vein hosted pyrite-sphalerite mineralization were intersected: e.g. NB20-004 intersected 76.8 m of vein hosted and semi-massive pyrite-sphalerite mineralization below the massive-sulphide from 156.2 to 233.0 m (see Cross Section 1).Dr. Jack Milton, Fireweed Chief Geologist, commented, “The upper interval in NB20-004 appears to represent a massive-sulphide cap to the system and the textures suggest that this layer may have originally been barite-rich and has been subsequently replaced by sulphide. There are strong textural parallels with other sediment-hosted massive-sulphide systems such as Red Dog, Alaska, and further parallels with the spatial relationship between the massive-sulphide and the underlying vein-hosted mineralization. This gives a compelling reason to step out the drilling next season and attempt to vector towards more feeder-proximal parts of the system where there is the potential for higher grade sections of massive-sulphide.”Lower sequence Stratiform zinc mineralization was intersected in hole NB20-009 from 160.0 m to 227.8 m (67.8 m intersected), occurring as fine to medium grains of disseminated grey sphalerite concentrated along sedimentary laminae in radiolarian cherty mudstones. Identification of graptolite fossils that precisely date the rocks from the new discovery west of Boundary Zone show that stratiform sphalerite mineralization occurs in the late Ordovician-Early Silurian part of the Road River Group (Cross Section 1). This demonstrates that stratiform mineralization in NB20-009 occurs not only in the upper sequence mid to late Devonian Earn Group rocks that host mineralization at Tom and Jason but that a second wide mineralized interval occurs in the older, lower sequence Late Ordovician-Early Silurian rocks.Dr. Jack Milton commented, “The discovery of stratiform sphalerite mineralization in these lower sequence Late Ordovician to Early Silurian rocks at Boundary West is highly significant as Early Silurian rocks host the large zinc-lead deposits at Howard’s Pass, 90 km southeast of our property, and this is the first discovery of stratiform mineralization hosted in Early Silurian rocks in the Macmillan Pass district. This discovery shows the existence of multiple pulses of mineralization and a long-lived hydrothermal system that is hosted by rocks of at least Upper Ordovician to late Devonian age. The new discovery at Boundary West demonstrates that not only does the Macmillan Pass district have potential to contain upper sequence mid-late Devonian hosted deposits; but also, lower sequence Howard’s Pass style Early Silurian hosted zinc-lead deposits.”The lower sequence stratiform interval of zinc mineralization is overprinted by multiple generations of sphalerite-pyrite-quartz-galena-siderite veins. The vein mineralization forms a wide interval, overlapping the stratiform mineralization and extending 178.2 m below the stratiform styles of mineralization in NB20-009 from 227.8 m to 406.0 m (see Cross Section 1 and Fireweed news releases dated September 24th, 2020 and October 15th, 2020 for details). Hole NB20-004 was terminated before reaching lower sequence rocks.The gravity anomaly at Boundary West remains untested along strike for hundreds of metres in both directions away from the fence of discovery drill holes.Assays remain pending for all 2020 drilling at Boundary Zone and no visual estimates for grade are reported. All drilled intervals are stated as intersected widths, and true widths have not been estimated as NB20-004, NB20-007, and NB20-009 are the first three holes drilled into the exploration target at Boundary West and the three dimensional geometry of the mineralized zone has not been defined. Investors are cautioned that textural comparisons of the mineralization in the Fireweed exploration targets discussed in this news release to other mineralized systems does not imply an expectation for similar grades, volumes or potential for eventual economic extraction.Qualified Person Statement 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-lead-silver and managed by a veteran team of mining industry professionals. The Company is advancing its district-scale 936 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits with current 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 large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, Stump) 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 & DirectorNeither 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 effects of the pandemic, 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 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 those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/3ee98aec-7674-4c32-8c72-95065ee82dd8https://www.globenewswire.com/NewsRoom/AttachmentNg/fe272dba-639e-487b-9ca0-e69b9bf28daehttps://www.globenewswire.com/NewsRoom/AttachmentNg/f4ae34ce-ebf4-40e6-97d0-0818e1fcdb0e

  • Fireweed Expands Property at Macmillan Pass Over Large Area of Zinc and Lead as well as Silver Targets
    GlobeNewswire

    Fireweed Expands Property at Macmillan Pass Over Large Area of Zinc and Lead as well as Silver Targets

    MACMILLAN PASS 2020 EXPANDED PROPERTY Map 1 – Macmillan Pass Project: Location of newly acquired claims (Oro Property = grey; QuestEx properties = blue) and documented prospects, advanced (drilled) prospects, and known deposits. ORO PROPERTY MINERAL OCCURRENCES Map 2 – Oro and Sol Claims: Close up of the Oro (grey) and Sol (blue) properties showing documented prospects and advanced (drilled) prospects along strike from Macmillan Pass Fertile Corridor along the Hess fault system. ORO PROPERTY GEOLOGY Map 3 – Oro and Sol Properties - Geology: Prospective geology and major structures continue along strike from Macmillan Pass Fertile Corridor ORO PROPERTY SOIL Zn PPM Map 4 – Oro and Sol Properties – Zinc Geochemistry: Zinc-in-soil map includes several large targets along Hess Fault trend and in Oro Main area. OIL PROPERTY SOIL Pb PPM Map 5 – Oro and Sol Properties – Lead Geochemistry: Widespread soil geochemical sampling dataset across the Oro property include several potential zinc, lead and silver targets. Lead-in-soil map includes several targets south and west of the Oro Main target. OIL PROPERTY SOIL Ag PPM Map 6 – Oro and Sol Properties – Silver Geochemistry: Silver-in-soil map includes several large targets along Hess Fault trend and in Oro Main area. MACMILLAN PASS PROPERTY CALCULATED VERTICAL MAGNETIC GRADIENT Map 7 – Macmillan Pass Property - Geophysics: Widespread airborne DIGHEM-magnetics geophysical survey coverage adds to existing Macmillan Pass EM survey area and acts as a guide for exploration.VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) -- FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ) is pleased to announce the signing of two separate agreements to acquire significant large claim blocks on the western extensions of Boundary Zone and the Fertile Corridor in the Macmillan Pass area, Yukon. The first agreement with QuestEx Gold & Copper Ltd. (TSXV:QEX) comprises 410 claims covering a total area of 74 km2. The second agreement with two private arms-length individuals comprises 1,582 claims covering an area of 318 km2. Highlights * Fireweed has added large highly prospective claim blocks on the western extensions of the Fertile Corridor and Boundary Zone * These acquisitions significantly increase the Company’s land position in the Macmillan Pass area from 544 km2 to 936 km2 * Historic exploration for gold in the area left a large legacy of exploration data which outlined geochemical anomalies in zinc and lead as well as large anomalies in silver. None of the zinc, lead or silver anomalies have seen any significant exploration CEO Statement Brandon Macdonald, CEO, stated “With the signing of these agreements, we have acquired a large land package with good exploration potential on the western extensions of the Fertile Corridor and Boundary Zone. These properties were originally explored for gold and that work generated a large volume of geochemical and geophysical data that was not closely examined for other metals. The maps attached to this news release demonstrate that there are large and strong soil geochemical anomalies indicating good potential for shale-hosted zinc and lead deposits like our Tom, Jason and Boundary Zones. In addition, there are some big kilometer-scale silver anomalies which may also indicate mineralization of a different type altogether. Our main exploration focus will remain at Boundary, Tom and Jason but these new properties represent an intriguing lottery ticket with potential for future big discoveries.”Exploration Potential The acquired claims cover an area of high exploration potential for shale hosted Zn-Pb-Ag systems as well as large silver-in-soil geochemical anomalies. They cover the western extension of the Fertile Corridor which is host to Boundary Zone, End Zone and the Jason deposit and is the prime exploration target trend in the district (Map 1). Geological interpretation has found that the Fertile Corridor is controlled by the Hess Fault, a long active crustal-scale fault zone that appears to have been a conduit for mineralizing fluids in the district. The Hess Fault originated as a synsedimentary fault and is present across much of this newly acquired ground (Maps 2 and 3). The area around this fault and its branches is highly prospective.Exploration for Carlin-style gold systems in the area by previous operators has exceeded $10M and has left a legacy of modern high-quality geochemistry and airborne EM-magnetics geophysics data that has only been examined to a limited degree for zinc, lead and silver potential. Inherited data includes limited historic drill hole data, 18,999 soil samples which include zinc, lead and silver analyses as well as gold, and 2,114 line-km of DIGHEM-magnetics geophysical data (Maps 4-7). The Fireweed team will undertake a study of the data this winter and generate targets for future exploration for zinc, lead and silver systems. A main study focus will be the western extension of the Eleven target that spans the Nidd and Sol properties, and the Imperial-Area 51 soil anomaly just to the west of that.QuestEx Purchase Agreement The first agreement with QuestEx Gold & Copper Ltd. (TSXV:QEX) is a purchase agreement under which Fireweed will acquire 410 claims covering a total area of 74 km2. These claims cover the immediate western extension of the Fertile Corridor (the “Sol Property”), as well as several small separate claim blocks with known mineral showings (Map 1). Under the QuestEx purchase agreement, Fireweed will acquire 100% interest in the properties for C$100,000 plus 350,000 shares upon TSX Venture Exchange approval of the agreement. QuestEx retains a 0.5% Net Smelter Royalty (“NSR) on all base metals and silver and a 2% NSR on all other metals including gold, which may be mined from the property. There is an additional private third party royalty consisting of a 2% NSR on production from the Sol Property of which 1% may be extinguished for C$2 million.Oro Property Option Agreement The second agreement with two arms-length individuals is a one-year option agreement under which Fireweed can acquire 1,582 claims covering an area of 318 km2. These claims cover geochemical targets on the distal western extension of the Fertile Corridor (Map 1). Under this option agreement, Fireweed can exercise the option and acquire 100% interest in the claims by making payments as follows: * C$250,000 and 500,000 shares upon TSX Venture Exchange approval of the option; * On or before 12 months of approval, C$250,000 and 500,000 sharesThe vendors retain a 0.5% Net Smelter Royalty (NSR) on all base metals and silver and a 2% NSR on all other metals including gold which may be mined from the property.Qualified Person Statement 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-lead-silver and managed by a veteran team of mining industry professionals. The Company is advancing its district-scale 936 km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits with current 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 large blocks of adjacent claims (MAC, MC, MP, Jerry, BR, NS, Oro, Sol, Ben, Stump) 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 & DirectorNeither 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.Contact: Brandon Macdonald Phone: 604-646-8361Cautionary 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 effects of the pandemic, 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 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 those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/ca31a077-aef0-4e91-9228-4e7923b2ee1dhttps://www.globenewswire.com/NewsRoom/AttachmentNg/da573d3d-d64f-4ea0-a9aa-c2cb562d8083https://www.globenewswire.com/NewsRoom/AttachmentNg/32d8de02-8c71-4481-92ef-b03d22249be4https://www.globenewswire.com/NewsRoom/AttachmentNg/2c9a28e3-4a64-4769-a525-909b1bbb822fhttps://www.globenewswire.com/NewsRoom/AttachmentNg/898e1fc2-3317-48d5-ac1e-e47bab63b893https://www.globenewswire.com/NewsRoom/AttachmentNg/62b0ef0c-064f-41f0-8d09-d7c77da26519https://www.globenewswire.com/NewsRoom/AttachmentNg/28f1a316-0677-4b72-989f-31283d0af71c

  • Fireweed Completes 2020 Drilling at Macmillan Pass With Additional Wide Intersections at Boundary West
    GlobeNewswire

    Fireweed Completes 2020 Drilling at Macmillan Pass With Additional Wide Intersections at Boundary West

    MACMILLAN PASS PROJECT 2020 TARGETS Map 1 – Macmillan Pass Project: Locations of the 2020 exploration targets, advanced prospects, and known deposits. BOUNDARY ZONE 2020 GRAVITY AND DRILLING Map 2 – Boundary Zone: Locations of the 2020 drill hole locations 240 MILE TARGET 2020 DRILLING Map 3 – 240 Mile Target: Locations of the 2020 drill hole locations TOM 2020 RC DRILLING Map 4 – Tom Area: Locations of the 2020 RC drill hole locations JASON 2020 RC DRILLING Map 5 – Jason Area: Locations of the 2020 RC drill hole locationsVANCOUVER, British Columbia, Oct. 15, 2020 (GLOBE NEWSWIRE) -- FIREWEED ZINC LTD. (“Fireweed” or the “Company”) (TSXV: FWZ) announces that additional wide zones of mineralization have been intersected at Boundary West Zone on the Macmillan Pass Project, Yukon, Canada. Drilling has now been completed for the 2020 season. Assays for all holes are pending. An airborne VTEM-magnetic geophysics survey and final sampling of drill core are being completed as the camp winds down for the winter. Highlights * A total of 10 diamond-drill holes for 2,948 m, and 9 RC holes for 507 m have been completed * Hole NB20-008 intersected a wide zone of zinc-lead mineralization and has demonstrated continuity between previously announced holes NB-20-004 and 007, in a new discovery known as “Boundary West”, and the core of Boundary Zone * Hole NB20-009 was drilled from the same pad as hole NB20-007, which was lost, and intersected a wide zone of zinc-lead mineralization at the new Boundary West Zone CEO Statement Brandon Macdonald, CEO, stated “It has been a short but intense exploration season at Macmillan Pass where we had three drills working. Highlights for the season are several wide intersections of zinc-lead mineralization in long step out holes at Boundary West Zone for which we eagerly await assays. These include yet more wide zones of mineralization in new step out holes 008 and 009 at Boundary West Zone. We also drilled wide intersections in the heart of Boundary Zone and tested other targets as well. We will leave one drill and associated equipment in camp over the winter so we can get an early start next season to continue drilling these zones which remain open for exploration.”Core Drilling Infill and step-out drilling at Boundary Zone (Map 1) has successfully encountered wide zones of zinc-lead mineralization, significantly extending the footprint of the known mineralization. A total of nine holes were drilled at Boundary Zone this season for 2,948 m (Map 2). Three drill holes, NB20-004, -008 and -009, have discovered new wide sections of pyrite-sphalerite-galena mineralization which extends Boundary Zone at least 360 m to the west in a new discovery named Boundary Zone West. The holes were drilled on a new gravity high anomaly defined earlier this summer during the ground geophysics survey work. Two other infill holes at Boundary Zone also intersected wide zones of mineralization.One hole was drilled at the end of the season on the 240 Mile Target which is a new exploration target marked by a gravity anomaly located between the Tom and Jason deposits (Map 3) (see Fireweed news release dated June 11, 2020 for details). This hole was drilled to a depth of 632 m before being suspended due to encroaching winter weather. It did not encounter the target horizon, and further geological and geophysical interpretation of this area is required. The hole was left open to allow potential drilling to greater depth to resume next season.Assays are pending for all holes. Descriptions of all holes drilled this season are in the tables at the end of this news release.Reverse Circulation (RC) Drilling Infill holes at Tom and Jason were drilled (Map 4, Map 5), demonstrating the potential to use RC drilling as a low-cost alternative to diamond drilling for future upgrading of resource categories at shallow depths. Assays are pending for all holes.Airborne VTEM-Magnetic Geophysics A late season airborne VTEM-magnetic geophysics survey is being carried out over the western part of the Fertile Corridor including Boundary Zone. Results from this survey will be used to guide future exploration and drill targeting.Qualified Person Statement 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-lead-silver 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 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 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 & DirectorNeither 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.Contact: Brandon Macdonald Phone: 604-646-8361Cautionary 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 effects of the pandemic, 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 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 those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.TABLE 1: 2020 DRILL HOLE COLLAR DATADiamond Drill HolesDrill HoleLength (m)ZoneEasting*Northing*Elevation (m)Dip (°)Grid Azimuth (°) NB20-001303.5Boundary Zone42244070104181164-54270 NB20-002320.0Boundary Zone42233670103291132-50020 NB20-003152.0Boundary Zone42155770104561200-50185 NB20-004333.0Boundary Zone42204970106141218-50215 NB20-005143.0Boundary Zone42227770103131129-50215 NB20-006203.0Boundary Zone42227770103131129-80215 NB20-00790.0Boundary Zone42195170105381200-70215 NB20-008324.0Boundary Zone42221670103541139-50215 NB20-009447.2Boundary Zone42195170105381200-75215 MP20-001632.0240 Mile43869870030941311-60295 *UTM Zone 9 NAD83Reverse Circulation (RC) Drill HolesDrill HoleLength (m)ZoneEasting*Northing*Elevation (m)Dip (°)Grid Azimuth (°) TRC20-0017.6Tom West44206570036671547-50066 TRC20-00282.3Tom West44207170036631547-80066 TRC20-00364.0Tom West44207170036631547-55066 TRC20-00464.0Tom West44207170036631547-70089 TRC20-00547.2Tom West44207170036631547-55129 TRC20-00636.6Tom West44204970036781545-80065 TRC20-00798.45Tom North44165470045071422-51076 JRC20-00147.24Jason Main43643770027741298-50027 JRC20-00259.44Jason Main43653370027721300-65011 *UTM Zone 9 NAD83TABLE 2: 2020 DRILL HOLE RESULTS AND OBSERVATIONSDiamond Drill Holes – assays pending for all holesDrill HoleLength (m)ZoneTargetResults and Observations NB20-001303.5Boundary ZoneBZ core infillWide zone encountered. NB20-002320.0Boundary ZoneBZ core infill/step-outWide zone encountered. Hole abandoned at 320 m in mineralization due to drilling problems. NB20-003152.0Boundary ZoneGravity high anomaly ~800 m west of BZNo significant mineralization. Anomaly explained by dense sedimentary rock unit NB20-004333.0Boundary ZoneGravity high anomaly 360 m west of BZWide zone encountered. NB20-005143.0Boundary ZoneBZ step-out to southNo significant mineralization. NB20-006203.0Boundary ZoneBZ step-out to southMinor mineralization encountered. NB20-00790.0Boundary ZoneGravity high 360 m W of BZHole abandoned due to drilling problems and re-drilled as NB20-009. NB20-008324.0Boundary ZoneGravity high anomaly 200 m west of BZ and step-out 80 m west of previous drillingWide zone encountered. NB20-009447.2Boundary ZoneGravity high anomaly 360 m W of BZWide zone encountered. MP20-001632.0240 Mile TargetGravity high anomaly between the Tom and Jason depositsHole suspended before reaching target horizon; casing left in place to allow resumption of drilling next season. Reverse Circulation (RC) Drill Holes – assays pending for all holesDrill HoleLength (m)ZoneTargetResults and Observations TRC20-0017.6Tom WestInfillHole abandoned at casing due to drilling problems TRC20-00282.3Tom WestInfillTom West zone intersected TRC20-00364.0Tom WestInfillTom West zone intersected TRC20-00464.0Tom WestTwin of historic holeSuccessful twin with good recovery TRC20-00547.2Tom WestStep-outHole abandoned before target depth due to drilling problems TRC20-00636.6Tom WestInfillHole abandoned before target depth due to drilling problems TRC20-00798.45Tom NorthInfillTom North zone intersected JRC20-00147.24Jason MainInfillJason Main zone intersected JRC20-00259.44Jason MainInfillJason Main zone intersected Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0f1b3065-333e-436f-b5e6-cc84a916492dhttps://www.globenewswire.com/NewsRoom/AttachmentNg/2b5406d4-3fb6-4d3f-b612-41b97c29ef63https://www.globenewswire.com/NewsRoom/AttachmentNg/f4ffe1bc-84f4-4834-bc01-755ee8410fd9https://www.globenewswire.com/NewsRoom/AttachmentNg/ff9c0eb9-0e8e-423f-9d97-bd49e00077b8 https://www.globenewswire.com/NewsRoom/AttachmentNg/9c735a7d-fd11-45e7-ac95-52549fdd25b3