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Fireweed Zinc Mobilizes Field Crews to Begin 2021 Exploration Program


May 26, 2021

Vancouver, British Columbia: FIREWEED ZINC LTD. (“Fireweed”) (TSXV: FWZ) is pleased to announce that the first field crews have been mobilized to the Macmillan Pass Property, in Yukon, Canada.

The first crews on site will open camp facilities and prepare for the upcoming exploration program. Drilling and other field work are expected to begin in the coming weeks.

Highlights for the 2021 Exploration Program

  • Drilling will be focused around the Boundary Zone and the newly discovered Boundary West Zone,
  • Evaluation of regional targets including Bog Zone, Volcanic Zone, and Eleven, potentially including drill testing,
  • Field exploration programs including geophysical and geochemical surveys, and geological mapping and prospecting will be carried out on newly defined targets.

CEO Statement
Brandon Macdonald, CEO, stated “It is exciting to get boots on the ground to begin our 2021 exploration program. We have an ambitious program planned to drill the Boundary zones and to carry out a wide- ranging exploration program seeking new discoveries on large geochemical anomalies, and geological and geophysical targets, including targets on our new claims which cover the western extension of the Fertile Corridor. In the few short years we have worked the property, we have had great success and have advanced the project to become one of the largest undeveloped zinc resources in the world. We expect 2021 will be another huge step toward growing a truly world-class zinc district.”

2021 Diamond Drilling Program

The 2021 drilling program will seek to expand and better define both the Boundary and Boundary West zones. Holes will include step-outs to grow the potential resources, infill where current drill spacing is insufficient to support a resource, and limited holes close to past drilling to help define variography in support of an eventual resource.

Boundary Zone
The Boundary Zone consists of a large zone of vein, stockwork, and breccia-hosted, zinc (-lead-silver) mineralization cutting across volcanics, mudstones, and conglomerates, and has large zones of matrix and clast replacement style mineralization within the course clastic rocks. Higher grade, near surface mineralization could be suitable for bulk tonnage, open pit mining.

Drilling highlights from the 2020 program at Boundary Zone include drillhole NB20-002, which intersected 4.42% Zinc, 0.08% Lead and 10.7 g/t Silver over 212.70 m, including 25.58% Zinc, 0.14% Lead and 44.0 g/t Silver over 5.81 m.

Boundary West Zone
The Boundary West Zone consists of an upper sequence of stratiform massive sulphides, Boundary Zone style-vein hosted and replacement style mineralization, and stratiform, laminar zinc mineralization similar to the Tom and Jason deposits as well as a lower (older) sequence of stratiform zinc-lead mineralization and vein hosted zinc mineralization.

Drilling highlights from the 2020 program at Boundary West Zone include drillhole NB20-004, which intersected 4.22% Zinc, 0.34% Lead and 25.6 g/t Silver over 76.5 m including 6.46% Zinc, 0.77% Lead and 47.5 g/t Silver over 24.1 m from a vertical depth of 90 m from surface.

2021 Field Programs

Regional Exploration Targets
The Fireweed team have identified many regional exploration targets with mineralization similar to the Boundary Zone such as the Bog Zone, Volcanic Zone, and Eleven. These targets will be further evaluated during the 2021 program, and the best targets may be chosen for drill testing later in the season.

Exploration crews will also begin work on the recently acquired Sol and Oro claim groups (see Fireweed News Release dated Nov 23, 2020) that 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. Previous operators explored the Sol and Oro claims for gold and left a legacy of extensive geochemical and geophysical data which includes large geochemical anomalies indicating strong potential for shale hosted zinc and lead deposits as well as large silver anomalies which may indicate mineralization of a different type altogether. Many of these anomalies and targets will be investigated this summer.

Airborne Geophysical Survey
Crews will continue with the 1,300 line-kilometer airborne VTEM-Magnetics geophysics survey that was started at the end of the 2020 season but delayed due to late season weather. The survey will cover the Boundary and Boundary West Zones as well as regional targets such as Bog Zone, Volcanic Zone, and Eleven. Results of the survey will be used to guide work programs and exploration targeting.

Ground Geophysical Surveys
The ground gravity crew will continue to survey the Fertile Corridor focusing on high priority target areas. Previous gravity surveys successfully detected the Tom, Jason, and Boundary Zones, and a gravity anomaly detected in 2020 lead to the discovery of the newly identified Boundary West Zone.

Geochemical Surveys
Continued soil geochemical surveys are planned for select areas of the property, and extensive geological mapping and prospecting will be carried out this summer to advance Fireweed’s understanding of the geological controls on mineralization and further delineate prospective areas including the recently acquired Oro and Sol claims on the western extension of the Fertile Corridor.

Qualified Person Statement
Technical information in this news release has been approved by Gilles Dessureau, P.Geo., V.P. Exploration for Fireweed Zinc and a ‘Qualified Person’ as defined under Canadian National Instrument 43101.

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 940 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, and 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 & 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

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, pandemics, 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.

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