Ms. Jill Donaldson reports

FIREWEED METALS ANNOUNCES LEADERSHIP TRANSITION: IAN GIBBS APPOINTED CEO, ADAM LUNDIN JOINS AS CHAIR OF THE BOARD

Fireweed Metals Corp. has appointed Ian Gibbs as chief executive officer, president and director, and Adam Lundin as chair of the board.

Mr. Gibbs brings executive leadership experience from his tenure within the Lundin Group companies, where he played a key role in advancing world-class projects such as Filo del Sol, Josemaria and Fruta del Norte. Most recently, Mr. Gibbs served as chief financial officer of Filo Corp., where he helped guide the company through its transformational transaction with BHP Investments Canada Inc. and Lundin Mining Corp. His expertise in driving projects from exploration through development and mergers and acquisitions makes him exceptionally qualified to lead Fireweed into this new phase of growth.

As chair of the board, Mr. Lundin brings extensive leadership experience, having been pivotal in transforming the Vicuna District into one of the world's next major copper-producing hubs. His appointment underscores the Lundin family's strong commitment to Fireweed and their vision of it as the next significant district-scale opportunity in their portfolio.

Jill Donaldson, Fireweed board member and chair of the governance committee, commented: "On behalf of the board, I want to thank Peter Hemstead for his dedicated leadership as interim CEO. Peter has been instrumental in Fireweed's evolution into a district-scale critical minerals company and will remain on the board and a key part of our leadership team moving forward.

"We are thrilled to welcome Ian Gibbs as CEO at such an exciting juncture. His proven track record, particularly in advancing Lundin Group projects, and his recent success with the Filo Corp. transaction with BHP and Lundin Mining, highlight his ability to deliver transformational outcomes. Ian is the ideal leader to build on Fireweed's momentum.

"We also thank Paul Harbidge for his commitment as chair and continuing contribution as a member of the board. We are excited to welcome Adam Lundin into the role of chair of the board. Adam's appointment reflects the Lundin family's confidence in Fireweed's vision and the immense potential of our district-scale critical mineral projects."

This leadership transition positions Fireweed to successfully navigate its next phase of growth, building on its demonstrated exploration success and the strong support from both the Canadian and United States governments. With recent funding commitments for advancing the Mactung tungsten project and critical infrastructure planning serving the entire Macmillan Pass critical minerals district, Fireweed is well prepared to capitalize on the opportunities ahead and solidify its position as a leader in the critical minerals space.

Appointments

Ian Gibbs, president, CEO and director

Mr. Gibbs previously served as CFO of Filo, where he helped guide the company to its recent $4.5-billion transaction with BHP and Lundin Mining. Mr. Gibbs also served as CFO for Josemaria Resources Inc., which was purchased by Lundin Mining in 2022. Prior to his role at Josemaria, he served as CFO of Africa Oil Corp., a Toronto Stock Exchange- and Nasdaq Stockholm-listed Canadian oil and gas company with assets in Nigeria, Kenya and Ethiopia. Previously, Mr. Gibbs was CFO of Tanganyika Oil, where he played a pivotal role in the sale of the company to Sinopec International Petroleum for $2-billion. Before Tanganyika Oil, Mr. Gibbs was CFO of Valkyries Petroleum, which was the subject of a $750-million takeover. Mr. Gibbs serves on several Lundin Group boards, including Lundin Gold since its inception in 2014. Mr. Gibbs. is a Canadian chartered professional accountant and a graduate of the University of Calgary, where he obtained a bachelor of commerce degree.

Adam Lundin, chairman and director

Mr. Lundin has many years of experience in capital markets and public company management across the natural resources sector. His background includes oil and gas and mining technology, investment advisory, international finance, and executive management. He began his career working for several Lundin Group mining companies in various countries before moving into finance where he was co-head of the London office for an independent full-service investment bank.

Mr. Lundin is the former president, CEO and director of Josemaria Resources. He now serves as the chair of the board of directors of Lundin Mining. He also currently serves on the board of directors of Lucara Diamond Corp., NGEx Minerals Ltd. and the Lundin Foundation.

Stock option grant

The company announces that it is granting, pursuant to its stock option plan, a total of 350,000 stock options to certain employees and directors, exercisable at a price of $1.42 per share for a five-year term.

About Fireweed Metals Corp.

Fireweed is an exploration company focused on unlocking value in a new critical metal district located in Northern Canada. Fireweed is 100-per-cent owner of the Macpass district, a large and highly prospective 985-square-kilometre land package. The Macpass district includes the Macpass zinc-lead-silver project and the Mactung tungsten project. A Lundin group company, Fireweed is strongly positioned to create meaningful value.

Fireweed trades on the TSX Venture Exchange under the trading symbol FWZ, on the OTCQX Best Market under the symbol FWEDF and on the Frankfurt Stock Exchange under the trading symbol M0G.

We seek Safe Harbor.