VANCOUVER, British Columbia, Nov. 27, 2018 (GLOBE NEWSWIRE) -- FIREWEED ZINC LTD. (“Fireweed” or the “Company”)
(TSXV: FWZ) is pleased to announce closing of the previously announced sale and purchase agreement with Teck Metals Ltd. (“Teck”),
a subsidiary of Teck Resources Limited (TSX:TECK.A and TECK.B, NYSE: TECK), to acquire the Nidd Property on the western extension
of the Macmillan Pass Zinc Project in Yukon, Canada. With this acquisition Fireweed has consolidated the Macmillan Pass Zinc
District and now controls 544 square kilometers of highly prospective zinc claims including all four known large zinc mineralized
systems in the region – Tom, Jason, End Zone and Boundary Zone – as well as many other zinc exploration targets including the
entire highly prospective “fertile corridor” of exploration targets extending from Tom to the Boundary Zone and beyond (see
attached map and Fireweed news release dated November 6, 2018 for details).
Under terms of the agreement, Fireweed acquired 100% interest in the 372 Nidd claims for a purchase price of
1,500,000 shares subject to a one year lock up, and Teck retains a 1% net smelter return royalty and has a right of first
offer to purchase from Fireweed, future production concentrates from the Nidd Property.
CEO Statement
“Adding the Nidd Property to our holdings is a major milestone and for the first time in history the Macmillan Pass Zinc District
is consolidated under one owner, Fireweed. After the Tom and Jason properties, Nidd is an important piece of this district not just
because of the established mineralization, but because of the property’s prospectivity for the discovery of new mineralized bodies.
We are thrilled to have made this transaction and welcome Teck as a major shareholder,” stated Fireweed CEO Brandon Macdonald.
Technical information in this news release has been approved by Brandon Macdonald, P.Geo, CEO 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 large 544
km2 Macmillan Pass Project in Yukon, Canada, which is host to the 100% owned Tom and Jason zinc-lead-silver deposits
with recently announced 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 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
other large blocks of adjacent claims (MAC, MC, MP, Jerry, BR and NS) which cover exploration targets in the district where
previous work identified zinc, lead and silver geochemical anomalies in critical host geology.
Additional information about Fireweed Zinc and its Macmillan Pass Zinc Project, 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.
Forward-Looking 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, 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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b1055cb6-76ac-4981-a8e3-15c772e0b00c
