FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ;
OTCQB: FWEDF) is pleased to announce the appointment of Patrick
(Paddy) G. Downey to the Board of Directors.
Mr. Downey has over 40 years of international
experience in the resource industry, including mine operations,
development and construction. Mr. Downey is currently CEO of
Orezone Gold where he has overseen the successful financing,
construction, and operation of the Bomboré mine in Burkina Faso. He
has held the position of President, Chief Executive Officer and
Director of Elgin Mining Inc., Aura Minerals Inc. and previously
Viceroy Exploration Ltd. before its acquisition by Yamana Gold Inc.
in 2006. He has held numerous senior engineering positions at
several large-scale global gold mining operations and has also held
operating positions at several mining projects in Northern Canada.
Mr. Downey was a member of the boards of Claude Resources and
Dalradian Resources before their recent successful acquisitions and
a member of the Board of Victoria Gold during the development stage
of Eagle Gold Mine in the Yukon Territory. He holds a Bachelor of
Science (Hon.) degree in Engineering from Queen’s University.
CEO Statement
“We extend a warm welcome to Paddy as he joins
our already strong Board,” said Brandon Macdonald, CEO, “His
experience in engineering, mine-building, and operations helps
round out Fireweed’s board and provides essential expertise as we
proceed down the path toward development of our large Critical
Minerals projects.”
Stock Option Grant
The Company announces that it is granting,
pursuant to its stock option plan, a total of 240,000 stock options
as of September 12, 2023: 230,000 to Mr. Downey in connection with
his appointment, and 10,000 to a consultant to the Company,
exercisable at a price of $1.42 per share for a five-year term.
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
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% of
the district-scale 940 km2 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 Resources1 (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 Assessment2 (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 owns 100% interest in the 37.6 km2 Mactung Project located
adjacent to the Macmillan Pass Project. Recently announced mineral
resources for Mactung (41.5 Mt Indicated Resource at 0.73% WO3 and
12.2 Mt Inferred Resource at 0.59% WO3)3 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
owns 100% of the 128.75 km2 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 m of
historical drilling and significant upside potential.
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.
Technical information in this news release has
been approved by Fireweed Metals VP Geology, Jack Milton, Ph.D.,
P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian
National Instrument 43-101.
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.
“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
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 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
* References to relative size and grade of the
Mactung 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: For details and QP statements, see
https://www.sedarplus.ca/ 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 https://www.sedarplus.ca/ on February 23, 2018,
and Fireweed News Release dated January 10, 2018.
2: For details and QP statements, see
https://www.sedarplus.ca/ Fireweed Technical Report titled “NI
43-101 Technical Report Macmillan Pass Project Yukon Territory
Canada” filed on https://www.sedarplus.ca/ on July 9, 2018, and
Fireweed News Release dated May 23, 2018. This Technical Report
includes a Preliminary Economic Analysis disclosing 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.
3: For details and QP statements, see Fireweed
news release dated June 13, 2023 “Fireweed Metals Announces Mineral
Resources for the Mactung Project: the Largest High-Grade Tungsten
Deposit in the World” and the technical report entitled “NI 43-101
Technical Report, Mactung Project, Yukon Territory, Canada,” with
effective date July 28, 2023 filed on https://www.sedarplus.ca/
Contact: Brandon MacdonaldPhone: (604)
646-8361Email: info@fireweedmetals.com
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