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Fireweed Announces New Director and Grant of Stock Options

V.FWZ

VANCOUVER, British Columbia, Sept. 06, 2022 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF) is pleased to announce the appointment of Peter Hairsine to the Board of Directors and the grant of stock options.

New Director
Mr. Hairsine is an asset development specialist with more than 20 years of experience in mining and resources and a representative of Fireweed’s large shareholder, Ibaera Capital. He has a Bachelor of Engineering (Mechanical) and a Bachelor of Commerce from the University of Western Australia. He is a former Project Study Manager and Manager of Business Development for Fortescue Metals and Study Manager at WorleyParsons. Mr. Hairsine is currently a partner in Ibaera Capital, a private equity fund that specialises in future facing minerals investment. He is part of Ibaera’s Investment Committee, serves on the boards of two privately held companies and is currently the Investment Manager for all of Ibaera’s assets.

Mr. Hairsine brings his experience of all aspects of project development from exploration to construction, operations and business improvement; as well as a diverse set of mineral commodities. He has been responsible for a number of large project studies in the Australian and International minerals sector; utilizing a total project approach by integrating geology, mining, process and infrastructure inputs to maximize the value of projects. He combines this with an excellent appreciation of the key commercial and financial requirements to ensure a successful project.

CEO Statement
Fireweed CEO Brandon Macdonald stated: “The addition of Mr. Hairsine brings wide experience with major project development to our already strong Board. With Fireweed’s rapid growth into a leading critical minerals development company, we expect he will be a key contributor to advancing our world class zinc and tungsten projects.”

Stock Option Grants

The Company announces that it is granting, pursuant to its stock option plan, a total of 3,950,000 stock options exercisable at a price of $0.55 per share for a five-year term. Management, staff and consultants are being granted 2,860,000 stock options, and non-management directors are being granted 1,090,000 stock options.

About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F): Fireweed Metals is a public mineral exploration company on the leading edge of Critical Minerals project development. The Company has three projects located in northern Canada:

Macmillan Pass Zinc-Lead-Silver Project: Fireweed owns 100% of the district-scale 940 km2 Macmillan Pass Project in Yukon, Canada, one of the largest undeveloped zinc projects in the world. The project is host to the Tom and Jason zinc-lead-silver deposits with current Mineral Resources and a PEA economic study (see Fireweed news releases dated 10th January 2018, and 23rd May 2018, respectively, and reports filed on www.sedar.com for details), as well as the Boundary Zone, Boundary West Zone, Tom North subzone 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 with known showings and significant upside exploration potential. The large 2022 drilling program is underway with four drills; results will inform new and updated mineral resources this winter.

Mactung Tungsten Project: The Company has a binding Letter of Intent to acquire 100% interest in the 37.6 km2 Mactung Tungsten Project located adjacent to the Macmillan Pass Project and accessed by the same road. It contains historic resources that make it one of the largest and highest-grade undeveloped tungsten resources in the world. Located in Canada, it is one of the rare large tungsten resources outside of China. Due diligence and validation work on historic data is underway which will support a new mineral resource estimate.

Gayna River Zinc-Gallium-Germanium Project: Fireweed has 100% of the 128.75 km2 Gayna River project located 180 kilometres north of the Macmillan Pass project. It is host to extensive critical minerals mineralization including zinc, gallium and germanium as well as lead and silver, outlined by 28,000 metres of historic drilling and significant upside potential. The 2022 work program consists of an airborne LiDAR topography survey, ground geophysics survey and historic data compilation.

In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies and is DTC eligible for enhanced electronic clearing and settlement. The Company is current in its reporting, and undergoes an annual verification and management certification process. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com. In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.

Additional information about Fireweed and its projects can be found on the Company’s website at www.FireweedMetals.com and at www.sedar.com.

ON BEHALF OF FIREWEED METALS CORP.

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.

Cautionary Statements

Forward Looking Statements
This news release may contain “forward-looking” statements and information relating to the Company and its projects 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. 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.

Contact:
Brandon Macdonald
Phone: (604) 646-8361


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