Mr. Brandon Macdonald reports

FIREWEED METALS FILES TECHNICAL REPORT FOR ITS MACTUNG PROJECT ON SEDAR

Fireweed Metals Corp. has filed on SEDAR the independent technical report for its Mactung project that is located in Yukon and the Northwest Territories (NWT), Canada.

Chief executive officer statement

"We are pleased to file our technical report on SEDAR to give the full details of the resource estimate that was completed to demonstrate that Mactung is the largest high-grade tungsten deposit in the world," commented Brandon Macdonald, chief executive officer. "We are continuing to advance the Mactung project towards development and this world-class resource will be the foundation for detailed engineering studies of this unique critical mineral project."

The technical report results were previously disclosed in the company's news release dated June 13, 2023, and prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. The qualified person and author of the report is Garth Kirkham, PGeo, of Kirkham Geosystems Ltd. The report, entitled "NI 43-101 Technical Report, Mactung Project, Yukon Territory, Canada," with effective date of July 28, 2023, and report date of July 28, 2023, can be found under Fireweed's profile on SEDAR and on the company's website.

Qualified person statement

Mr. Kirkham, PGeo, of Kirkham Geosystems is the qualified person, as defined in National Instrument 43-101, and is responsible for the Mactung mineral resource estimate, the technical report entitled "NI 43-101 Technical Report, Mactung Project, Yukon Territory, Canada," and directly related information as reported herein. He has read and approved the relevant technical portions of this news release related to the mineral resource estimates for which he is responsible.

Disclosure of other technical information in this news release, not related to the Mactung mineral resource estimate, has been approved by Fireweed Metals vice-president, geology, Dr. Jack Milton, PhD, PGeo (British Columbia), a qualified person as defined under Canadian National Instrument 43-101.

About Fireweed Metals Corp.

Fireweed Metals is a public mineral exploration company on the leading edge of critical minerals project development. Fireweed is well financed, with a healthy working capital position, and is well positioned to carry out the large 2023 exploration program. The company has three projects located in Canada:

• Macmillan Pass project (zinc-lead-silver): Fireweed owns 100 per cent of the district-scale 940-square-kilometre Macmillan Pass project in Yukon, Canada, which is host to one of the largest undeveloped zinc resources in the world where the Tom and Jason zinc-lead-silver deposits have current mineral resources (11.21 million tonnes indicated resource at 6.59 per cent zinc, 2.48 per cent lead and 21.33 grams per tonne silver; and 39.47 Mt inferred resource at 5.84 per cent zinc, 3.14 per cent lead and 38.15 g/t silver) and a preliminary economic assessment (PEA). In addition, Boundary zone, Tom North and End zone 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.
• Mactung project (tungsten): The company recently acquired 100-per-cent interest in the 37.6 square km Mactung project located adjacent to the Macmillan Pass project. Recently announced mineral resources for Mactung (41.5 Mt indicated resource at 0.73 per cent WO3 (tungsten trioxide) and 12.2 Mt inferred resource at 0.59 per cent WO3) make it the world's largest high-grade resource of the critical mineral tungsten. Located in Canada, it is one of the rare large tungsten resources outside of China.
• Gayna River project (zinc-lead-gallium-germanium): Fireweed has 100 per cent of the 128.75 square km Gayna River project located 180 km north of the Macmillan Pass project. It is host to extensive mineralization including critical minerals zinc, gallium and germanium as well as lead and silver, outlined by 28,000 metres of historical drilling and significant upside potential.

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