Fireweed Drills High-Grade at Tom: 40.6 m True Width of 15.2% Zinc, 14.6% Lead, and 181.6 g/t Silver, Including 20.9 m of 20.7% Zinc, 22.4% Lead, and 280.0 g/t Silver

Fireweed Drills High-Grade at Tom: 40.6 m True Width of 15.2% Zinc, 14.6% Lead, and 181.6 g/t Silver, Including 20.9 m of 20.7% Zinc, 22.4% Lead, and 280.0 g/t Silver

Fireweed Metals CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF, formerly Fireweed Zinc Ltd.) is pleased to announce the final set of results from the 2022 drill program at Tom, Macmillan Pass, Yukon, Canada (Map 1), stated as estimated true widths. All assay results from the 2022 program have now been released.

  Highlights  

  • Multiple wide and high-grade intersections at the Tom deposit.
  • Hole TS22-009 intersected a true width of 40.6 m at 15.2% zinc, 14.6% lead, and 181.6 g/t silver, including 20.9 m of 20.7% zinc, 22.4% lead, and 280.0 g/t silver.  
  • Hole TS22-001 intersected a true width of 26.9 m of 9.3% zinc, 5.4% lead, and 61.5 g/t silver, including 12.8 m of 11.4% zinc, 8.9% lead, and 114.9 g/t silver.  
  • Hole TS22-002 intersected a true width of 16.9 m of 10.7% zinc, 5.0% lead, and 98.8 g/t silver , including 3.3 m of 18.9% zinc, 14.2% lead, and 324.0 g/t silver.  
  • Many of the 2022 drill holes have demonstrated significantly better grades and/or wider intersections than the current Mineral Resource block model at the same location.

CEO Statement

Brandon Macdonald, CEO, stated "We are very pleased to close out the reporting of the 2022 results with some phenomenal grades from our Tom deposit. The holes are infill, yet the grades in most of these holes are significantly higher than what has been estimated in our current Mineral Resource for those intersections. We have hit extremely high zinc, lead, and silver grades in intersections of massive sulphides in the feeder zone that are better than anything that we have seen before at Tom West. We see great potential for growth of the Tom resource."

  Tom Drilling Results  

The drill results shown in Table 1 are the highlights from the Tom zinc-lead-silver deposit (Maps 1 and 2) drill holes described in this news release. Table 2 shows the full Tom deposit 2022 drill results.

Table 1: Tom deposit 2022 Drill Results Highlights

Drill hole From (m) To (m) Type Intersected Width (m) True Width (m) Zinc (%) Lead (%) Silver (g/t) Zinc Equivalent (%)
TS22-001  

129.28 178.25 primary 48.97 26.93 9.28 5.40 61.5 16.28
148.66 171.85 >incl. 23.19 12.75 11.38 8.93 114.9 23.33
TS22-002  

82.62 121.92 primary 39.30 16.90 10.69 5.03 98.8 18.42
82.62 90.25 >incl. 7.63 3.28 18.86 14.16 324.0 42.09
TS22-003  



87.58 112.30 primary 24.72 22.99 7.34 9.77 139.2 21.03  
98.23 110.24 >incl. 12.01 11.17 8.41 15.49 244.4 30.83  
104.75 108.30 >>incl. 3.55 3.30 8.27 23.83 396.0 43.52  
TS22-005  

6.91 37.18 primary 30.27 24.79 6.78 5.06 70.1 13.76
21.50 30.36 >incl. 8.86 7.26 10.84 8.55 157.0 23.73
TS22-006  





152.53 185.55 primary 33.02 23.35 5.94 6.01 80.3 14.12  
152.53 171.85 >incl. 19.32 13.66 7.51 9.44 121.4 20.23  
154.86 162.90 >>incl. 8.04 5.68 16.17 15.94 235.1 38.47
158.32 162.90 >>>incl 4.58 3.24 19.60 19.85 310.2 47.89  
TS22-009  



266.06 328.45 primary 62.39* 40.55 15.24 14.62 181.6 34.67
278.00 320.20 >incl. 42.20** 27.43 18.89 18.86 241.0 44.15
282.10 314.20 >>incl. 32.10*** 20.87 20.69 22.40 280.0 50.53  

: lead is the single largest value contributor to the zinc equivalent calculation in this intersection; *67% recovery; **59% recovery; ***58% recovery. Numbers in the text may differ slightly from numbers in the table due to rounding. True widths in this news release are estimates based on currently available information. See note below for zinc equivalent grade calculation. Unless otherwise noted, zinc is the single largest value contributor to metal value in the zinc equivalent grade calculation for each intersection in this table.

The Tom zinc-lead-silver deposit

Fireweed's 100% owned, road-accessible Tom and Jason deposits are some of the world's largest undeveloped zinc deposits* and host combined current Mineral Resources 1 of: 11.21 Mt Indicated Resource at 6.59% zinc, 2.48% lead, and 21.33 g/t silver; and 39.47 Mt Inferred Resource at 5.84% zinc, 3.14% lead, and 38.15 g/t silver. The Tom deposit is subdivided into three distinct zones that have current Mineral Resources: Tom West (Main), Tom East, and Tom Southeast (Map 2). Tom North was drilled by Fireweed in 2019, forms a mineralized zone with no currently defined Mineral Resources, and is located at surface adjacent to Tom West (Map 2, Long Section TA-TA'). Fireweed's current Mineral Resource was published in early 2018, based on 2017 and earlier drilling only. Boundary Zone, Fireweed's new discovery and the focus of 2022 drill results reported to date, is located 21 kilometres WNW from the Tom deposit.

Tom West

Eight infill holes were drilled at Tom West, focusing mostly on the mineralization around the feeder zone within part of Fireweed's current Mineral Resource. This area is the highest-grade part of the Tom West Mineral Resource and is supported largely by historic drill holes with small diameter core and poor core recovery. Six out of the eight holes drilled at Tom West in 2022 returned grades that are significantly higher than what had been estimated in the current Mineral Resource model for those parts of the deposit. These differences in grade are likely due to better recovery of the higher-grade sections within each intersection in the new, larger diameter drilling compared to the small diameter core drilled in early years which often had poor recoveries. All infill holes demonstrated excellent continuity of mineralization and good grades (see Tables 1 and 2, Long Section TA-TA').

Hole TS22-009 returned spectacularly high grades within an interval of massive sulphide over 40.6 m true width of 15.2% zinc, 14.6% lead, and 181.6 g/t silver, including 20.9 m of 20.7% zinc, 22.4% lead, and 280.0 g/t silver (Table 1).

Hole TS22-001 intersected a true width of 26.9 m of 9.3% zinc, 5.4% lead, and 61.5 g/t silver including 12.8 m of 11.4% zinc, 8.9% lead, and 114.9 g/t silver. The intersection comprised laminated sphalerite-galena-barite-pyrite with minor interbedded cherty black mudstones typical of the stratiform mineralization at Tom West.

Tom West remains open to expansion in multiple directions and there is additional potential to improve upon historic poor-recovery drilling by completing additional infill drill holes that may yield higher grades of zinc, lead, and silver with improved recovery (Long Section TA-TA').

Tom East

Hole TS22-002 was drilled as an infill hole at Tom East, not only confirming the high grades previously known at Tom East, but providing an intersection with grades higher than currently modeled in an equivalent intersection within that part of the current Tom East Mineral Resource model. The estimated true width at the intersection is 16.9 m that returned 10.7% zinc, 5.0% lead, and 98.8 g/t silver including 3.3 m of 18.9% zinc, 14.2% lead, and 324.0 g/t silver, highlighting some of the very high grades present at Tom East.

Qualified Person Statement

Technical information in this news release has been approved by Fireweed Metals Chief Geologist, Jack Milton, Ph.D., P.Geo. (BC), a ‘Qualified Person' as defined under Canadian National Instrument 43-101.

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. Fireweed is well-funded, with a current cash position of approximately C$38,000,000 and is well-positioned to carry out a large 2023 exploration program. The Company has three projects located in Canada:

  •   Macmillan Pass Zinc-Lead-Silver Project: Fireweed owns 100% of the district-scale 940 km 2 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 1 (11.21 Mt Indicated Resource at 6.59% zinc, 2.48% lead, and 21.33 g/t silver; and 39.47 Mt Inferred Resource at 5.84% zinc, 3.14% lead, and 38.15 g/t silver) and a Preliminary Economic Assessment  2 (PEA). In addition, Boundary Main, Boundary West, 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 Tungsten Project: The Company recently signed a definitive Asset Purchase Agreement and acquired 100% interest in the 37.6 km 2 Mactung Tungsten Project located adjacent to the Macmillan Pass Project. Mactung contains historic resources that make it one of the largest and highest-grade undeveloped resources in the world of the Critical Mineral tungsten*. Located in Canada, it is one of the rare large tungsten resources outside of China. An updated mineral resource is planned for Q2 2023, and re-sampling of historic drill core is continuing and will include assays for previously unreported by-product metals, such as gold, copper, and bismuth, in addition to tungsten.
  •   Gayna River Zinc-Lead-Gallium-Germanium Project: Fireweed has 100% of the 128.75 km 2 Gayna River project located 180 kilometres 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 historic drilling and significant upside potential. The results from the 2022 field program of geochemical sampling, airborne LiDAR topographic surveying and ground geophysics are now being interpreted towards defining drill targets.

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. 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 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.

Data Verification

The diamond drill core logging and sampling program was carried out under a rigorous quality assurance / quality control program using industry best practices. Drill intersections in this release are HQ3 (split tube) size core (61.1 mm / 2.406-inch diameter) or NQ2 size core (50.5 mm / 1.99-inch diameter) with recoveries typically above 85% unless otherwise noted in the results tables. After drilling, core was cleaned, scanned with a core scanning machine, logged for geology, structure, and geotechnical characteristics, then marked for sampling and photographed on site. The cores for analyses were marked for sampling based on geological intervals with individual samples 2 m or less in length. Drill core was cut lengthwise in half with a core saw; half-core was sent for assays reported in this news release, and the other half is stored on site for reference. Bulk density was determined on site for the entire length of each sample assayed by measurement of mass in air and mass in water. Sample duplicate bulk density determinations and in-house bulk density standard determinations were each made at a rate of 5%. Since 2017, four in-house bulk density standards (mineralized drill core from the Tom deposit that span a range of densities) have been used and show an acceptable long-term precision. Certified standard masses are used to calibrate the scale balance used for bulk density determinations.

A total of 5% assay standards or blanks and 5% core duplicates are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards and blanks in 2022 drill results to date have been approved as acceptable. Duplicate data add to the long-term estimates of precision for assay data on the project and precision for drill results reported is deemed to be within acceptable levels. Samples were sent to the Bureau Veritas preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was sent to the Bureau Veritas laboratory in Vancouver, British Columbia to be pulverized to 85% passing 200 mesh size pulps. Clean crush material was passed through the crusher and clean silica was pulverized between each sample. The pulps were analyzed by 1:1:1 Aqua Regia digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-ES/ICP-MS) multi-element analyses (BV Code AQ270). All samples were also analyzed for multiple elements by lithium borate fusion and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit Pb (>25.0%) and Zn (>24.0%) were analyzed by lithium borate fusion with XRF finish (BV Code LF726). Silver is reported in this news release by method AQ270, and zinc and lead are reported by LF725 or LF726. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2005 accredited laboratory.

Results in this news release are length and bulk-density weighted averages as would be used in a Mineral Resource estimate. Readers are cautioned that in Fireweed's news releases prior to 2020, only length weighted assay averages were reported which may result in slightly lower (under-reported) average values. Length and bulk-density weighted averages have been reported as these most accurately represent the average metal-content of the intersections.

True widths are estimated by measuring perpendicular to strike within the short axis of an approximately tabular shaped wireframe that has been constructed in 3D around the mineralized zone at Tom West based on assay results, geological logging, and bedding measurements from oriented core. The mineralization at the Tom deposit is mostly stratiform (oriented parallel to bedding), therefore the true width, or thickness, of the zone is estimated perpendicular to both the strike and dip direction of bedding.

Zinc Equivalent Calculation

The use of zinc equivalent (ZnEq.) grades in this news release follows the calculation described in Fireweed 2018 Technical Reports 1 ,2 , and detailed below:

ZnEq. = (x + y + z + a)/16.16

where x = 16.16*zinc(%); y = 16.08*lead(%); z = (0.05853*silver(g/t))-(0.6146*zinc(%)); and a = (0.447*silver(g/t))-(0.3607*lead(%)). Terms z and a are only included in the calculation of ZnEq. when positive. This ZnEq. calculation assumes metal prices of US$1.17/lb zinc, US$0.99/lb lead, and US$16.95/oz silver. Metal recovery assumptions were: 79% for zinc, 82% for lead, and 85% for silver (whereby 12% would be recovered from a zinc concentrate and 73% would be recovered from a lead concentrate). The ZnEq. calculation includes estimated factors for: metallurgical recoveries, assumed metal prices, and smelter terms including payable factors, treatment charges, and refining charges. The calculation assumes an exchange rate of US$1 = C$1.24.

Cautionary Statements

Forward Looking Statements

This news release contains "forward-looking" statements and information ("forward-looking statements"). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to interpretation of drill results, future work plans, the use of funds, and the potential of the Company's projects, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company's operati   ons, 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, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. The Company assumes no obligation to update forward    looking statements or beliefs, opinions, projections or other factors, except as required by law.

Investors are cautioned that the drill intersections that are compared to the current Mineral Resources are not subject to any grade capping, and that grades in mineral resource blocks were calculated based on interpolation between assay composites that have capped grades. In the current Mineral Resource at Tom West zinc was capped at 25%, lead was capped at 25%, and silver was capped at 600 g/t; and at Tom East zinc was capped at 30%, lead capped at 50%, and silver at 600 g/t, as described in Fireweed Technical Reports   1   ,2   . Grades in new holes were compared to a length and bulk density weighted calculated grade derived from a stack of blocks from the Current Mineral Resource block model perpendicular to the XY plane of the block model spanning the full thickness of the mineralized zone, located through the mid-point of the reported new intersection.

Footnotes and References

* References to relative size and grade of the Mactung historic resources and Macmillan Pass resources in comparison to other tungsten and zinc deposits elsewhere in the world, respectively, are based on review of the Standard & Poor's Global Market Intelligence Capital IQ database.

1 : Fireweed Technical Report titled "NI 43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory, Canada" filed on www.SEDAR.com on Feb 23, 2018, and Fireweed News Release dated January 10 th 2018.

2 : Fireweed Technical Report titled "NI 43-101 Technical Report Macmillan Pass Project Yukon Territory Canada" filed on www.SEDAR.com on July 9 th 2018, and Fireweed News Release dated May 23 rd , 2018. This Preliminary Economic Analysis includes an economic analysis of mineral resources that is preliminary in nature and does not include any mineral reserves. It is equally emphasized that the mineral resources disclosed within this Technical Report are not mineral reserves and do not have demonstrated economic viability.

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

Table 2: Tom 2022 Full Table of Drill Results for All Holes in this News Release.

Drill hole From (m) To (m) Type Intersected
Width (m)
True Width (m) Zinc (%) Lead (%) Silver (g/t) Zinc
Equivalent (%)
Bulk
Density (t/m
  3   )
TS22-001

129.28 178.25 primary 48.97 26.93 9.28 5.40 61.5 16.28 3.424
148.66 171.85 >incl. 23.19 12.75 11.38 8.93 114.9 23.33 3.528
TS22-002

82.62 121.92 primary 39.30 16.90 10.69 5.03 98.8 18.42 2.897
82.62 90.25 >incl. 7.63 3.28 18.86 14.16 324.0 42.09 3.325
TS22-003



87.58 112.30 primary 24.72 22.99 7.34 9.77 139.2 21.03 3.579
98.23 110.24 >incl. 12.01 11.17 8.41 15.49 244.4 30.83 3.935
104.75 108.30 >>incl. 3.55 3.30 8.27 23.83 396.0 43.52 4.308
TS22-004 157.11 202.00 primary 44.89 22.45 5.95 2.61 15.4 8.93 3.321
TS22-005

6.91 37.18 primary 30.27 24.79 6.78 5.06 70.1 13.76 3.496
21.50 30.36 >incl. 8.86 7.26 10.84 8.55 157.0 23.73 3.923
TS22-006







152.53 185.55 primary 33.02 23.35 5.94 6.01 80.3 14.12 2.985
152.53 171.85 >incl. 19.32 13.66 7.51 9.44 121.4 20.23 3.146
154.86 162.90 >>incl. 8.04 5.68 16.17 15.94 235.1 38.47 3.289
158.32 162.90 >>>incl 4.58 3.24 19.60 19.85 310.2 47.89 3.492
182.70 184.64 >and 1.94 1.37 14.26 1.53 42.0 16.92 3.186
TS22-007

48.56 86.00 primary 37.44 26.47 5.51 1.97 0.9 7.48 3.659
48.56 55.00 >incl. 6.44 4.55 7.84 2.57 2.6 10.43 3.421
TS22-008

24.68 49.00 primary 24.32 18.63 6.95 6.04 12.5 13.18 3.599
39.80 42.80 >incl. 3.00 2.30 6.69 10.82 21.6 17.81 4.086
TS22-009



266.06 328.45 primary 62.39* 40.55 15.24 14.62 181.6 34.67 3.445
278.00 320.20 >incl. 42.20** 27.43 18.89 18.86 241.0 44.15 3.610
282.10 314.20 >>incl. 32.10*** 20.87 20.69 22.40 280.0 50.53 3.618

: lead is the single largest value contributor to the zinc equivalent calculation in this intersection. *67% recovery; **59% recovery; ***58% recovery. Numbers in the text may differ slightly from numbers in the table due to rounding. True widths are estimates. Unless otherwise noted, zinc is the single largest value contributor to metal value in the zinc equivalent calculation for each intersection in this table.

Table 3: Summary of Drill Results from 2022 Program.

Drill hole Zone Hole length
(m)
Significant intersections Type
NB22-001 BW 463 Reported on Nov 22 2022 Infill & Step-out
NB22-002 BW 491 Reported on Nov 22 2022 Step-out & New Discovery
NB22-003 BW 64 Hole abandoned -
NB22-004 BW 403 Reported on Feb 15 2022 Step-out
NB22-005 BM 326 Reported on Jan 31 2023 Step-out
NB22-006 BM 375 Reported on Jan 31 2023 Step-out
NB22-007 BW 365 Reported on Feb 15 2022 Step-out
NB22-008 BM 213 Reported on Jan 31 2023 Step-out & New Discovery
NB22-009 BM 147.5 Reported on Feb 27 2023 Infill
NB22-010 BM 91 Reported on Feb 27 2023 Infill
NB22-011 BM 265.3 Reported on Feb 27 2023 Infill & Step-out
NB22-012 BM 353 Reported on Mar 2 2023 Step-out
NB22-013 BM 125.4 Reported on Feb 27 2023 Infill
NB22-014 BM 31 Hole abandoned -
NB22-015 BM 145 Reported on Mar 2 2023 Infill
NB22-016 BM 57.4 Hole abandoned -
NB22-017 BM 80 Reported on Mar 2 2023 Infill
NB22-018 BM 270 Reported on Feb 27 2023 Infill, Step-out & New Discovery
NB22-019 BW 340 Reported on Feb 15 2022 Infill & Step-out
NB22-020 BM 149 Reported on Feb 27 2023 Infill
NB22-021 BM 112 Reported on Feb 27 2023 Infill
NB22-022 BM 327 Reported on Mar 2 2023 Step-out & New Discovery
NB22-023 BM 367 Reported on Mar 2 2023 Step-out & New Discovery
TS22-001 TW 200 Reported in this release Infill
TS22-002 TE 170.9 Reported in this release Infill
TS22-003 TW 125 Reported in this release Infill
TS22-004 TW 214.2 Reported in this release Infill
TS22-005 TW 128 Reported in this release Infill
TS22-006 TW 190.5 Reported in this release Infill
TS22-007 TW 86 Reported in this release Infill
TS22-008 TW 61 Reported in this release Infill
TS22-009 TW 335 Reported in this release Infill

All 2022 assays have now been reported for the Macmillan Pass Project. BM: Boundary Main; BW: Boundary West; TW: Tom West; TE: Tom East.

Table 4: 2022 Drill Collar Details.

Drill hole Target Length (m) Easting Northing Elevation
(m.s.l)
Azimuth (°) Dip  
(°)
NB22-001 Boundary 463 421861 7010461 1178 030 -58
NB22-002 Boundary 491 421940 7010405 1164 033 -57
NB22-003 Boundary 64 422105 7010683 1238 211 -76
NB22-004 Boundary 403 422105 7010683 1238 211 -76
NB22-005 Boundary 326 422230 7010524 1193 214 -50
NB22-006 Boundary 375 422539 7010536 1195 207 -55
NB22-007 Boundary 365 421940 7010405 1164 036 -47
NB22-008 Boundary 213 422274 7010600 1217 209 -68
NB22-009 Boundary 147.5 422438 7010417 1165 208 -50
NB22-010 Boundary 91 422390 7010385 1152 205 -50
NB22-011 Boundary 265.3 422440 7010419 1164 208 -69
NB22-012 Boundary 353 422342 7010620 1219 201 -65
NB22-013 Boundary 125.4 422390 7010386 1150 205 -70
NB22-014 Boundary 31 422330 7010384 1146 212 -50
NB22-015 Boundary 145 422331 7010385 1146 212 -75
NB22-016 Boundary 57.4 422330 7010384 1146 212 -55
NB22-017 Boundary 80 422331 7010385 1147 212 -85
NB22-018 Boundary 270 422308 7010434 1166 216 -58
NB22-019 Boundary 340 421948 7010672 1232 180 -57
NB22-020 Boundary 149 422308 7010435 1166 216 -72
NB22-021 Boundary 112 422309 7010435 1167 216 -82
NB22-022 Boundary 327 422292 7010474 1182 211 -56
NB22-023 Boundary 367 422292 7010474 1182 211 -70
TS22-001 Tom West 200 441994 7003679 1545 060 -80
TS22-002 Tom East 170.9 442063 7004322 1677 060 -90
TS22-003 Tom West 125 441994 7003680 1545 065 -55
TS22-004 Tom West 214.2 441993 7003679 1545 065 -89
TS22-005 Tom West 128 442046 7003767 1533 063 -50
TS22-006 Tom West 190.5 442044 7003582 1581 049 -75
TS22-007 Tom West 86 441943 7003969 1538 066 -80
TS22-008 Tom West 61 441945 7003970 1538 066 -45
TS22-009 Tom West 335 442043 7003581 1581 049 -89

Coordinate reference system: UTM Zone 9 NAD83. North reference: UTM grid north.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2e6107f8-b9d7-46be-bd6b-1469588a53e0

https://www.globenewswire.com/NewsRoom/AttachmentNg/092af417-ac06-4b05-aed0-1bc825d179df

https://www.globenewswire.com/NewsRoom/AttachmentNg/d46a0572-edb7-4576-a8b0-7cd69ed914cf

https://www.globenewswire.com/NewsRoom/AttachmentNg/bf10e159-a5dd-4a7c-9f0e-5346cecfedde

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OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Fireweed Metals Corp. (TSX-V: FWZ; OTCQX: FWEDF; FSE: M0G), a mineral exploration company, has qualified to trade on the OTCQX® Best Market. Fireweed Metals Corp. upgraded to OTCQX from the OTCQB® Venture Market.

 

 Fireweed Metals Corp. begins trading today on OTCQX under the symbol "FWEDF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .

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Fireweed Makes Complete Drill Database Available and Launches New Website

Fireweed Makes Complete Drill Database Available and Launches New Website

 

Fireweed Metals CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to report that an integrated dataset containing all previously released Fireweed and historical drilling data from the Macmillan Pass ("Macpass") Project, Yukon, Canada, is now available on a newly launched website.

 

  Highlights  

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[VIDEO ENHANCED] Prismo Metals Options Two High-Grade Silver-Gold Mines in the Arizona Copper Belt - Immediate Exploration Planned

[VIDEO ENHANCED] Prismo Metals Options Two High-Grade Silver-Gold Mines in the Arizona Copper Belt - Immediate Exploration Planned

 

(TheNewswire)

 
       
  Prismo Metals Inc. 
                
 

Vancouver, British Columbia, July 3rd, 2025 TheNewswire - Prismo Metals Inc. (the " Company ") (CSE: PRIZ) (OTCQB: PMOMF) is pleased to announce that it has signed option agreements to acquire 100% interest in two historic high-grade precious and base metal mines — the Silver King and Ripsey mines — both located in Arizona's prolific Copper Belt near its flagship Hot Breccia project.

 

Additional information on the Silver King and Ripsey mines as well as Prismo's other projects (Hot Breccia and Palos Verdes) is available on Prismo's Youtube channel at:   

  

 

  Exceptional Grades and Untapped Potential  

 

Discovered in 1875, the Silver King mine is one of Arizona's most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t. Remarkably, selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains. Additionally, the presence of freibergite (AgCuSbS) suggests a potential for antimony, a critical mineral with growing strategic demand.

 

The Ripsey mine, located 20 km west of Hot Breccia, is also an historic gold-silver-copper producer with significant upside. Historic sampling has returned up to 15.85 g/t gold and 276 g/t silver, yet no modern exploration has been conducted.

 

  Strategic Location — World-Class Neighbors  

 

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world's largest unmined copper deposits with an estimated copper resource of 1.787 billion metric tonnes at an average grade of 1.5% copper (1) . This unique land position is fully surrounded by Resolution Copper's claim block, offering strategic upside.

 

"The Silver King and Ripsey mine projects are exciting additions to our Arizona portfolio. We see an opportunity to create near term value through immediate exploration on a historic high-grade silver producer with antimony potential that has seen limited modern exploration by drilling both laterally and at depth into a prospective source formation, said Gordon Aldcorn, President of Prismo. "We look forward to getting our exploration team back in the field, advancing our exciting projects and revitalizing investor interest in the Company."

 

The Silver King mine was discovered in 1875 and produced ore with as much as 10,000 ounces per ton silver in near surface workings (2) . Underground production through 1889 is estimated at almost 6 million ounces of silver at grades of between 61 and 21 ounces per ton. During a second period of production from 1918 to 1928, 230,000 ounces were produced at a grade of 18.7 ounces per ton.  No significant production has occurred after 1928.

 

The orebody at Silver King is a steeply west-dipping pipelike stockwork and breccia zone that was mined on eight levels to about 300 meters depth below a glory hole at the surface. The pipe is described as a dense stockwork with local breccia zones and a quartz core (3) .  Records indicate that due to variations in mineralogy, much of the upper portion of the body was evidently not mined. The current owners (the " Optionor ") rehabilitated the main shaft in the late 1990s, opened the upper levels of the mine and produced a small tonnage. Assay certificates from this period show selected samples with 400 to 600 ounces per ton silver with 0.2-0.5 oz/t gold and some base metals. Virtually no modern exploration has been carried out at the mine providing significant exploration upside and multiple drill targets.

 

The Ripsey mine is a historic gold-silver-copper producer located about 20 km west of the Hot Breccia project. Historic mine workings consisting of tunnels and shafts on several levels were developed along a vein over about 400 meters of strike length and 160 meters vertically. A small tonnage of mineral was produced by the Optionor in the late 1990's. Sampling by Dr. Craig Gibson from the mine workings has yielded 15.9 g/t gold and 275 g/t silver over 0.75 meters and 8.7 g/t gold, 181 g/t silver, 3% copper and 9% zinc over 1 meter. No modern exploration has been carried out at the project, providing significant exploration upside and multiple drill targets.

 

The Company plans to conduct a detailed mapping and sampling program at both projects at surface exposures and in accessible workings.  A drill program is planned for Silver King, with about 1,000 meters initially. The Silver King drill program is designed to test the mineralized body at four elevations as well as lateral to the pipelike body. De-watering of the Silver King shaft to gain access to the upper levels may also be undertaken as submersible pumps are in place.

 

"This is a fabulous opportunity for the Company. Both projects are high-grade and are easily accessible and may be associated with porphyry copper mineralization. We also look forward to evaluating the potential for antimony at Silver King. We're excited to begin exploration immediately to test the Silver King's pipelike mineralized body at multiple depths and laterally," said Dr. Craig Gibson , Chief Exploration Officer. "This region is world-class for porphyry systems and base and precious metals, and we believe these mines have significant untapped potential."

 

    
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Location of the Company's projects withing the Arizona Copper Belt

 

    
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Land map of the Silver King mine.

 

    
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Drone view of the Silver King mine.

 

     

 

The Silver King mine in the late 1800's.

 

    
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Click Image To View Full Size
 

 

Small scale mining in the upper levels of the Silver King mine in the late 1990's.

 

  Deal description  

 

Prismo has the option to acquire a 100% interest in both the Silver King and Ripsey mines. Prismo can earn a 100% interest in the Ripsey mine by issuing one million shares to the Optionor, paying the Optionor US $10,000 within six months of the signing of the option agreement (the " Effective Date "), US $10,000 on each anniversary of the Effective Date and US $1 million to the Optionor within five years of the Effective Date. Prismo does not have minimum work commitments as part of the Ripsey option agreement.

 

Regarding the Silver King mine, Prismo can acquire a 100% interest in three stages. Prismo must issue one million shares to the Optionor, pay the Optionor US $10,000 within six months of the Effective Date, and US $10,000 on each anniversary of the Effective Date. To earn a first 50% interest, Prismo must incur no less than US $500,000 in expenditures on or before the first anniversary of the Effective Date, incur no less than an additional US $2.5 million expenditures on or before the third anniversary of the Effective Date and issue to the Optionor two million shares. Prismo can acquire an additional 30% interest by incurring no less than an additional US $3 million in expenditures, paying the Optionor US $1 million and issuing to the Optionor two million shares before the fifth anniversary of the Effective Date. Prismo can elect to form a joint venture at anytime after earning it initial 50% interest. The option agreement and joint venture agreement terms and conditions contain standard buyout and dilution terms regarding the final 20% interest.

 

  Private Placement  

 

Prismo is also pleased to announce a non-brokered private placement (the " Private Placement ") of five million units of the Company (" Units ") at an issue price of $0.05 per Unit for minimum gross proceeds of $250,000. Each Unit will consist of one common share in the capital of the Company (a " Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "). Each Warrant will entitle the holder to purchase one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.10.

 

The Private Placement will also be made available to existing shareholders of the Company who, as of the close of business on July 1st, 2025, held Shares (and who continue to hold such Shares as of the closing date of the Private Placement), pursuant to the existing securityholder exemption set out in BC Instrument 45-534 – Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the " Existing Securityholder Exemption "). The Existing Securityholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Securityholder Exemption exceeding the maximum amount of the Private Placement, the Company intends to adjust the subscriptions received on a pro-rata basis.

 

The Units issued pursuant to the Private Placement and the Existing Securityholder Exemption will be subject to a four-month hold period from the closing date of the Private Placement under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.  

 

  The Company intends to use the net proceeds of the Private Placement for general corporate purposes. The Company may pay finder's fees to eligible finders in connection with the Private   Placement, subject to compliance with applicable securities laws and Canadian Securities Exchange policies.  

 

  The securities being offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.  

 

  Debt Settlements  

 

  Prismo also announces that it has entered into debt settlement agreements (the "   Settlement Agreements   ") with certain creditors of the Company (the "   Creditors   ") pursuant to which the Company agreed to issue to the Creditors, and the Creditors agreed to accept, an aggregate of 160,000  shares of the Company (each, a "   Share   ") in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $11,000 (the "   Debt Settlement   ").   All securities issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable policies of the Canadian Securities Exchange.  

 

  Share and Warrants Issuance  

 

  A private company dealing at arms' length with Prismo, its officers and directors, had certain rights into the Silver King and Ripsey mines ("   PrivateCo   "). In consideration for PrivateCo relinquishing its rights in the Silver King and Ripsey mines in favor of the Company, Prismo has agreed, subject to regulatory approval, to issue PrivateCo five million units (the "   Units   "). Each Unit is comprised of one common share (a "   Share   ") and one share purchase warrant (a "   Warrant   "). The Shares will become free trading as to 25% every six months from the Effective Date. Two million of the Warrants will be exercisable at $0.10 ("   First Tranche   ") and three million Warrants will be exercisable at $0.15 ("   Second Tranche   "), all for a period of three years. The shares from the exercise of the Warrants will become free trading as to 25% every six months from the Effective Date. In addition, the exercise of the First Tranche is conditional on Prismo having raised $1.5 million from parties introduced to Prismo by the principals of PrivateCo and the exercise of the Second Tranche is conditional on Prismo having raised $3.0 million from parties introduced to Prismo by the principals of PrivateCo.  

 

  Qualified Person  

 

   Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release. Other than the sampling conducted by Dr. Craig Gibson as indicated herein, the data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans.   

 

  1)     https://resolutioncopper.com/about-us/    

 

  2)   Galbraith, F, 1935, Geology of the Silver King area, Superior, Arizona, Univ. of Arizona thesis, 153p plus plates.  

 

  3)   Blake, W.P., 1883, Description of the Silver King Mine, Arizona, New Haven, 48p plus plates.  

 

  About Prismo Metals Inc.  

 

  Prismo (CSE: PRIZ) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.  

 

  Please follow @PrismoMetals on   ,   ,   ,    Instagram    , and  

 

  Prismo Metals Inc. ,   1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6  

 

  Contact:  

 

  Alain Lambert, Chief Executive Officer    alain.lambert@prismometals.com   

 

  Gordon Aldcorn, President    gordon.aldcorn@prismometals.com   

 

  Cautionary Note Regarding Forward-Looking Information  

 

  This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.  

 

  These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King and Ripsey. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund exploration and the timing of such exploration.  

 

  Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-   looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.  

 

  NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
 

 

Copyright (c) 2025 TheNewswire - All rights reserved.

 

 

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Bold Ventures Provides Update on Field Work at Burchell Property

Bold Ventures Provides Update on Field Work at Burchell Property

 

Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to provide an update on the progress of field work at its Burchell Gold and Copper Property, located approximately 100 km west of Thunder Bay.

 

Prospecting, outcrop mapping and soil sampling were carried out during the months of May and June on a 1 km by 800 m flagged grid centered on the recently discovered 111 Zone, where grab samples returned between 10 ppb gold and 68 g/t gold last December (see news releases dated December 12, 2024 and January 9, 2025). More than 600 rock and soil samples have been submitted for analysis from this first phase of field work, with final results pending.

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Juggernaut Announces Financing Of $1,000,000 From One Strategic Investor

Juggernaut Announces Financing Of $1,000,000 From One Strategic Investor

 

(TheNewswire)

 
        
  Juggernaut Exploration Ltd. 
                   
 

Vancouver, British Columbia July 3 rd 2025 TheNewswire - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), is pleased to announce a $1,000,000 hard dollar financing from one strategic investor, further confirming the support and excitement of the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The discovery is in an area of glacial and snowpack abatement next door to the gold-rich porphyry systems at Newmont Mining's Galore Creek. The Big One Property is a discovery previously announced Jan 20 th (Click Link) with assays up to 79.01 gt gold (2.54 ozt gold) and 3157.89 gt silver (101.5 ozt silver) from over 200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that all remain open at surface. The Big One Project covers 33,693 hectares in a globally ranked tier 1 jurisdiction with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia.

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Anteros Returns High-Grade Lead-Zinc-Silver in Surface Samples from the MMZ at its Havens Steady VMS Property, Newfoundland

Anteros Returns High-Grade Lead-Zinc-Silver in Surface Samples from the MMZ at its Havens Steady VMS Property, Newfoundland

 

Anteros Metals Inc. (CSE: ANT) ("Anteros" or the "Company") is pleased to announce assay results from six grab samples collected at the Main Mineralized Zone ("MMZ") of its wholly-owned, road-accessible Havens Steady VMS Property ("Havens Steady" or the "Property") in central Newfoundland. These samples confirm high-grade lead-zinc-silver mineralization at surface and show associated gold and copper enrichment consistent with a polymetallic volcanogenic massive sulphide ("VMS") system.

 

The grab samples were collected during a recent field visit, focused on confirming the tenor and extent of exposed mineralization within the MMZ. All samples were collected from bedrock outcroppings of gossanous surface material. Surface grab sample highlights are given in Table 1, below.

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