Fireweed Continues to Expand Mineralized Zone at Tom South

VANCOUVER, BC, Aug. 10, 2026 /CNW/ -- Fireweed Metals Corp. ("Fireweed" or the "Company") (TSXV: FWZ) (OTCQX: FWEDF) is pleased to report results from two completed holes in the ongoing Tom South step-out drilling program, targeting laminated and stratiform zinc-lead-silver mineralization at its Macpass Project¹ ("Macpass"), Yukon, Canada.

Tom South Highlights

Map 1: Macpass Project and Mactung Project locations

Map 2: Tom intersected mineralization, composite intervals in 2026 drilling, 2025 drilling and pre-2025 drilling with mineral resource vertical projection to surface.

Figure 1 Cross section TH to TH': Drillholes TS25-003 and TS26-001. Intersected thicknesses shown – see Table 1 for full results and true thicknesses. Folded interpretation is preliminary and requires additional drilling to better determine the geological structure.

Figure 2 Highly Schematic Geological Interpretations of Tom South

Figure 3 Inclined Long Section TG to TG' (026/78): showing intersected mineralization 2026, 2025 and pre-2025 drilling intersections.

Photo 1: Grey Facies mineralization in TS25-003 laminated sphalerite and barite from 1,227.5 to 1,233.0 m

• Hole TS25-003, a major step-out, extended the known extent of the mineralized zone 300 m in the down-dip direction, and intersected:
  • 16 m true width* of 4.17% ZnEq. ², including:
    • 1.1 m true width of 8.04% ZnEq.,
    • and 1.6 m true width of 16.04% ZnEq.;
  • 3.7 m true width of 3.82% ZnEq., including:
    • 1.94 m true width of 4.96% ZnEq.
  • These are comprehensive results from this hole, which was temporarily paused in mineralization at the end of the 2025 drill season due to seasonal constraints, including the results reported in-part on January 15, 2026.
• Hole TS26-001, a 45 m step-out intersected:
  • 30 m true width of 8.09% ZnEq., including:
    • 20.8 m true width of 10.44% ZnEq.
• The reported intersections are outside of the spatial extents of the current Macpass Mineral Resource¹
• Together with previous Tom South drilling, these intersections define an edge to the search space and vectors that point eastwards towards a potential feeder zone and westward to potential laminated and stratiform mineralization. Drilling is ongoing towards the east.

CEO Statement

Ian Gibbs, President and CEO, stated, "Tom South continues to deliver. We have successfully hit on major step-out holes at Tom South which have meaningfully expanded the down-dip and lateral extent of the mineralized zone and point towards an untested search space for additional high-grade massive sulphide mineralization. After waiting all winter to resume drilling at hole TS25-003, we confirmed continuity approximately 300 m down dip of the very high-grade mineralization in TS25-001D1. The high-grade laminated sulphides in TS26-001 demonstrate continued discovery of mineralization outside of the extent of the current Mineral Resource at Tom South and provides a vector to the east, towards a potential feeder zone that could yield even higher grades. We are excited to continue to pursue high-grade mineralization at Tom during the 2026 program and are currently drill testing this potential feeder zone."

Summary of Results

TS25-003 intersected mineralization 300 m down-dip of a previously reported high-grade intersection at Tom South of 30 m true width at 33.2% zinc equivalent² that stepped out 115 m from previous drilling (hole TS25-001D1; 18.2% Zn, 13.9% Pb, 161.0 g/t Ag; for further details, see Fireweed's news release dated September 23, 2025). The intersection in TS26-001 is a step out approximately 45 m west of TS25-001D1.

Tom South (Cross Section TH–TH')

TS25-003 is a large down-dip step out from TS25-001D1 and intersected two primary intervals of stratiform sulphide mineralization:

• 16 m true width of 4.17% ZnEq. ² (76.15 m intersected from 1,164.00 m downhole) grading 4.04% Zn, 0.11% Pb, and 1.7 g/t Ag, including 1.1 m true width of 8.04% ZnEq. (5.24 m intersected) of 7.80% Zn, 0.05% Pb, and 7.8 g/t Ag, and 1.6 m true width of 16.04% ZnEq. (7.63 m intersected) of 15.66% Zn, 0.42% Pb, and 1.9 g/t Ag;
  
  
• 3.7 m true width of 3.82% ZnEq. (17.82 m intersected from 1,267.20 m downhole) grading 3.61% Zn, 0.22% Pb, and 1.5 g/t Ag, including 1.94 m true width of 4.96% ZnEq. (9.35 m intersected) of 4.64% Zn, 0.35% Pb, and 1.9 g/t Ag.

This interval comprises intermittent black and grey facies material from 1,164 m to a depth of 1,285 m consisting of laminated sphalerite and barite, and laminated sphalerite-mudstone interbedded with black mudstones. The intersection contains bedding and sedimentary laminae oriented sub-parallel to the core axis.

The nature of the repeating intervals of grey facies mineralization within a broader envelope of black facies mineralization in TS25-003 suggests that this hole intersected sulphides related to the periphery of the mineralizing system. The low angle of intersection to core axis of the bedding likely represents parasitic folding within the broader fold regime at Tom South.

TS26-001 is a lateral step out to the west of TS25-001D1 at Tom South and intersected one primary interval of stratiform sulphide mineralization:

• 30 m true width of 8.09% ZnEq. (41.12 m intersected from 957.88 m downhole) grading 6.42% Zn, 2.04% Pb, and 3.4 g/t Ag, including 20.8 m true width of 10.44% ZnEq. (28.45 m intersected) of 8.11% Zn, 2.87% Pb, and 3.9 g/t Ag.

This interval comprises black and grey facies material from 957 m to a depth of 990 m consisting of laminated sphalerite and barite, and laminated sphalerite-mudstone interbedded with black mudstones. This is a ~45 m step out west of the high-grade massive sulphides intersected in TS25-001D1 and suggests that the vector towards additional potentially higher-grade material in the system, if it is present, extends to the east rather than the west – this eastern area is currently being drill tested.

TS25-003 and TS26-001 also contained elevated levels of the critical minerals germanium and gallium (see Tables 1 and 2 for full results of these holes).

Drill Program Update

Fireweed Metals currently has four active drill rigs on site as part of the 2026 Macpass District exploration program, with 5,813 m drilled to date. Of this, 3,299 m has been drilled at Tom South in step outs targeting massive sulphide mineralization, 1,251 m drilled at Tom East in targeting high-grade massive and laminated sulphides and subsequent muon tomography survey, and 1,263 m at Mactung in support of the Feasibility Study currently under way.

Next Steps

Additional results from Tom South, Tom East, and Mactung will be made available as they are received and interpreted.

Qualified Person Statement

Technical information in this news release has been reviewed and approved by Fireweed Metals VP Exploration Dr. Jack Milton P.Geo. (BC), a 'Qualified Person' as defined under Canadian National Instrument 43-101 ("NI 43-101"). Dr. Milton is not independent of the Company in accordance with NI 43-101.

About Fireweed

Fireweed is an exploration company focused on unlocking value in a new critical metals district located in Northern Canada. Fireweed is 100% owner of the Macpass District, a large and highly prospective 985 km² 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 trading symbol "FWEDF", and on the Frankfurt Stock Exchange under the trading symbol "M0G".

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

ON BEHALF OF FIREWEED METALS CORP.

"Ian Gibbs"
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 NQ2 size (50.5 mm/ 1.99-inch diameter), HQ size (63.5 mm/ 2.50-inch diameter), and PQ size (85.0 mm/ 3.35-inch diameter) with recoveries typically above 85% unless otherwise noted in the results tables. After drilling, core was cleaned, logged for geology, structure, and geotechnical characteristics, then marked for sampling and photographed on site. Certain cores were selected for core scanning using light detection and ranging (LiDAR), short-wave infrared (SWIR), X-ray fluorescence (XRF), and high resolution RGB image capture. The cores for analyses were marked for sampling based on geological intervals with individual samples two metres or less in length, with one metre samples within mineralized zones. 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 assay sample 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, in-house bulk density that span a range of densities have been used and show 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 were included in the sample stream as a quality control measure and were reviewed after analyses were received. Standards and blanks in 2025 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 reported drill results has been deemed to be within acceptable levels. Samples were sent to the Bureau Veritas (BV) preparation laboratory in Whitehorse, Yukon, where the samples were crushed and a 500 g split was sent to the BV laboratory in Vancouver, B.C 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). Samples that contained greater than or equal to 1,500 ppm Zn were further analyzed for gallium and germanium using hydrofluoric acid (HF) + aqua regia closed vessel digestion and ICP-MS finish (BV Code GC204). All samples were also analyzed for multiple elements by lithium borate fusion and X-ray fluorescence analysis (XRF) finish (BV Code LF725). Over-limit lead (>25.0%) and zinc (>24.0%) were analyzed by lithium borate fusion with XRF finish (BV Code LF726). Silver is reported in this news release by method AQ270, zinc and lead are reported by LF725 or LF726, gallium and germanium are reported by GC204. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2017 accredited laboratory. 

Assay values may appear rounded to one decimal place but are given in full in Table 1, and Cross Sections where zinc, and lead grades are reported to two decimal places.

Results in this news release are length and bulk-density weighted averages as would be used in a Mineral Resource estimate. Length and bulk-density weighted averages have been reported as these most accurately represent the average metal-content of the intersections.

True widths for primary intervals are estimated by measuring perpendicular to strike within the short axis of a stratiform wireframe that has been constructed in 3D around the mineralized intersections at Tom based on assay results, geological logging, stratigraphic correlation, and bedding measurements from oriented core. The massive sulphide mineralization and laminated mineralization at Tom are 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. True widths are rounded to the nearest metre for widths over 10 m and to the nearest 0.1 m for widths less than 10 m, as this better reflects the precision of the estimates. True widths should be regarded as approximate as these are derived from an estimation that uses a preliminary interpretation of the geological model. True widths for nested intervals (marked as "Including" in results tables) are estimated using a ratio of included to primary intersected widths to attribute appropriate portions of the true width of the primary interval to the nested intervals. True widths for primary intervals in TS25-003 are estimated by measuring angle of bedding to core axis from core within and surrounding the mineralized zone. Average intersection angles were calculated and the true width taken based on this average.

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, targets for exploration, potential extensions of mineralized zones, 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 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, 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.

Footnotes and References

¹: For Tom, Jason, End Zone, and Boundary Zone Mineral Resources, see the technical report entitled "Technical Report for NI 43-101, Macpass Project, Yukon, Canada" with effective date September 4^th, 2024 filed on Sedar+ here Pierre Landry, P.Geo. is independent of Fireweed Metals Corp., and a 'Qualified Person' as defined under Canadian National Instrument 43-101. Pierre Landry, of SLR, is responsible for the Tom, Jason, End Zone, and Boundary Zone Mineral Resource Estimates

²: Zinc equivalent calculations assume metal prices of US$1.40/lb zinc, US$1.10/lb lead, and US$25/oz silver, zinc concentrate recoveries of 89% Zn, 22% Ag, lead concentrate recoveries of 75% Pb, 59% Ag, 0% payability of Ag in zinc concentrate, 85% payability of Zn in zinc concentrate, 94% payability of Ag in lead concentrate, and 95% payability of Pb in lead concentrate. Germanium and gallium were not included in zinc equivalency calculations. The zinc equivalency formula used is: ZnEq% = ((0.56*Ag g/t)+(16.52*Pb%)+(21.32*Zn%))/21.32. The assumptions used in this zinc equivalency calculation are the same as the assumptions used for zinc equivalency in the 2024 Mineral Resource Estimate¹

*: Estimates of true width for TS25-003 are preliminary in nature due to the limited geometrical information available in this large step-out and are estimated based on intersection angles of bedding to core axis between 5 to 26°. The average of these intersections was taken and result in estimated true width being ~20% of intersected thickness

Table 1: Tom Drill Results

Drillhole	Interval	From (m)	To (m)	Interval Width (m)	Est. True Width (m)^‡	Zinc (%)	Lead (%)	Silver (g/t)	Gallium (ppm)	Germanium (ppm)	Bulk Density (t/m^3)
TS25-003	Primary	1164.00	1240.15	76.15	16	4.04	0.11	1.74	9.31	2.65	2.84
TS25-003	Including	1193.76	1199.00	5.24	1.1	7.80	0.05	2.33	9.72	3.00	2.74
TS25-003	Including	1224.89	1232.52	7.63	1.6	15.66	0.42	1.90	3.89	2.95	3.58
TS25-003	Primary	1267.20	1285.02	17.82	3.7	3.61	0.22	1.48	9.40	3.47	2.84
TS25-003	Including	1274.65	1284.00	9.35	1.9	4.64	0.35	1.85	8.56	3.90	2.86
TS26-001	Primary*	957.88	999.00	41.12	30	6.42	2.04	3.40	7.49	16.47	2.84
TS26-001	Including*	961.55	990.00	28.45	21	8.11	2.87	3.86	7.39	20.20	2.84

^‡ See "Data Verification" for a description of true width calculations

* Denotes intersects with recovery below 85%

Table 2: Macpass Drill Hole Collar Information

Drillhole	Zone	Length (m)	Easting	Northing	Elevation (m.s.l)	Azimuth (°)	Dip (°)
TS25-003	Tom South	1320.00	442396.15	7002787.36	1758.79	316.72	-87.30
TS26-001	Tom South	1037.00	442290.05	7002908.46	1744.55	340.40	-85.46

Coordinates listed in NAD83 UTM Zone 9N.

SOURCE Fireweed Metals Corp.

Alex Campbell, Phone: [phone], Email: [email protected]