Slide 1: Macpass Mineral Resource Estimate
TSX-V: FWZ OTCQX: FWEDF FSE: M0G MACPASS MINERAL RESOURCE ESTIMATE Proud member of the 5th September 2024
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS Forward-Looking Statements This presentation contains “forward-looking” statements and information relating to the Company, Macpass and Mactung Projects that are based on the beliefs of Company management, as well assumptions made by and information currently available to Compa
Slide 3: Resource Footnotes
RESOURCE FOOTNOTES • All mineral resources have been estimated in accordance with CIM definitions, as required under NI 43-101. • Data for this mineral resource estimate has been independently reviewed and validated by a third-party consultancy, SLR Consulting (Canada) Ltd. • Pierre Landry P.Geo. of
Slide 4: Agenda
Agenda Mineral Resource 01 Estimate (MRE) Fireweed Corporate 02 Overview Technical Process 03 Comparison to 2018 04 Resource Global Positioning 05 Exploration Potential 06 Next Steps for Fireweed 07
Slide 5: Executive Summary
EXECUTIVE SUMMARY 2024 Mineral Resource Estimate Highlights ▪ First constrained Mineral Resource Estimate (MRE) ✓ Large resource of 56.0 Mt Ind. + 48.5 ▪ Updated Tom-Jason MRE Mt Inf. ▪ Inaugural resource for Boundary Zone and End Zone ✓ High-quality, best-practice, defendable MRE ✓ Doubled the tonn
Slide 6: Macpass Project Overview
Macpass Project Overview We respectfully acknowledge that the Macpass Project is located on the Traditional Territories of the Kaska Dena Nation and the First Nation of Na-Cho Nyäk Dun. 6 TSX-V: FWZ | FireweedMetals.com 6
Slide 7: Project Locations & Existing Infrastructure
PROJECT LOCATIONS & EXISTING INFRASTRUCTURE N Macpass District Gayna (Zn-Pb-Ag) Project Macpass (Zn-Pb-Ag) & Mactung (W) Projects Early-stage project with a geologic setting and (~977 km2 land package) mineralization in-line with high-grade reef-style Macpass: multiple large-scale sediment deposits
Slide 8: Macpass: One of the World's Largest Undeveloped Zinc Districts
MACPASS: ONE OF THE WORLD’S LARGEST UNDEVELOPED ZINC DISTRICTS Macpass Zinc District ✓ Macpass is one of the world’s largest undeveloped primary zinc districts1 37 km2 ✓ Located at the heart of the Selwyn Basin – one of Earth’s most prolific zinc basins. ✓ 940 km2 land package that hosts multiple zi
Slide 9: Robust Technical Process
ROBUST TECHNICAL PROCESS Fireweed’s 2024 Mineral Resource Estimate represents the culmination of a rigorous technical process, delivering a robust and defensible estimate Enhanced ✓ Comprehensive Drilling Data: Derived from 124,632 m of drilling (including Geological 82,321 meters pre-2018 and 42,31
Slide 10: Drilling and Mapping
DRILLING AND MAPPING ▪ There has been 44,000 m of drilling since the 2018 Mineral Resource Estimate. ▪ Extensive regional geological mapping has been done to provide a robust framework for the geological models. ▪ Lithological and stratigraphic units have been redefined. ▪ Much of the historical cor
Slide 11: Drilling & Database Validation
DRILLING & DATABASE VALIDATION ▪ Total of 124,632 m of drilling between 544 holes in 2024 resource Deposit Drilling Holes Drilling Holes Total Drilling Total Holes pre-2018 pre-2018 since 2018 since 2018 Tom 34,267 m 218 11,624 m 59 45,909 m 277 Jason 36,853 m 126 2,097 m 11 38,950 m 136 End Zone 3,
Slide 12: 2024 Macpass Deposit Geology
2024 MACPASS DEPOSIT GEOLOGY Early-stage Mineralization - Two Step Genetic Model ▪ Stratiform, Sediment-Hosted Zn-Pb-Ag Deposits: The Tom, Jason, End Zone, and Boundary Zone deposits are examples of 1 clastic-dominated (CD) sediment-hosted massive sulphide deposits 1 ▪ Mineralization Model Reinterpr
Slide 13: Geology
GEOLOGY ▪ Robust geological interpretation has been critical in resource estimation. ▪ A detailed geological model was built out for each deposit, based on revised stratigraphic and structural interpretations of the geology. ▪ Geological domains were defined within each deposit that were integrated
Slide 14: Geology – Tom
GEOLOGY – TOM ▪ Black facies ▪ Split into several zones ▪ Zones divided into geological domains ▪ Grey facies Tom East Tom ▪ Pink facies West Tom Southeast ▪ Massive sulphide Map view Looking north facies TSX-V: FWZ | FireweedMetals.com 14
Slide 15: Geology – Jason
GEOLOGY – JASON Jason South – high grade domains Map of geological domains Jason Main and South Upper Lower Lens Lens Looking south-west Looking south-west TSX-V: FWZ | FireweedMetals.com 15
Slide 16: Boundary Geology
BOUNDARY GEOLOGY other ▪ Faulted, lithological model built upon a sequence- Boundary mineralization domains - Section view looking West-northwest stratigraphic interpretation of the geology ▪ Estimation domains follow lithology and link areas of zinc mineralization that follow the lithological trend
Slide 17: Estimation
ESTIMATION ▪ Density weighted composites (1.53 m Tom; 2 m Jason; 1.5 m BZ) were created from the assay data using domain boundaries. ▪ Estimation domains were built from combining geological domains and validated through contact-plots. ▪ A data-driven approach was taken to capping high assay values
Slide 18: Classification – Tom, Jason & EZ
CLASSIFICATION – TOM, JASON & EZ Infill Drilling Required INF IND INF IND IND INF INF UNCLASSIFIED UNCLASSIFIED Tom East UNCLASSIFIED End Zone Jason Main (Ind+Inf) Tom West (now includes Tom North) Ind+Inf IND Jason South (all Inferred) UNCLASSIFIED Tom Southeast INF INF UNCLASSIFIED ▪ Drillhole spa
Slide 19: Classification – Boundary Zone
CLASSIFICATION – BOUNDARY ZONE ▪ Boundary Zone Indicated (green) and Inferred resources (blue) within open pit ($30/t NSR cut-off) and underground panels ($112/t cut-off) Boundary- Isometric view looking North Boundary- Section view looking West-northwest 1,100 m IND IND INF INF 300 m TSX-V: FWZ | F
Slide 20: Metallurgy Overview
METALLURGY OVERVIEW • The Tom, Jason, and Boundary Zone deposits have good metallurgical performance, producing high grade concentrates with high recoveries, consistent across all deposits. Tom, Jason Boundary Zone Boundar • Recent metallurgical programs include: & End Massive y Zone Boundary o 2018
Slide 21: Mining Constraints – Tom & Jason
MINING CONSTRAINTS – TOM & JASON Tom OP RF 0.8 & UG Tom UG panel widths Tom 0.8 RF Pit Selected Minimizes Footprint whilst keeping strip <10 Remaining Underground has vast majority of panels >10 m width (yellow) with 57% of UG tonnage from >20 m width panels (orange to red). 82% of tonnes in panels
Slide 22: Mining Constraints – Boundary Zone
MINING CONSTRAINTS – BOUNDARY ZONE Boundary Base case RF 1.0 OP with $112/t NSR stope shape UG, looking towards 030, north-northwest. 1.0 RF Pit selected (4.9 Strip) Maximizes economic inventory via Open Pit Geometry and grade distribution is OP amenable Boundary is lower grade than Jason/Tom – Marg
Slide 23: Macpass 2024 Global MRE
MACPASS 2024 GLOBAL MRE Category Deposit Tonnage Grade Contained Metal ZnEq Zn Pb Ag Zn Pb Ag (Mt) (%) 1 (%) (%) (g/t) (M lbs) (M lbs) (M oz) Tom 17.52 9.90% 6.30% 3.34% 33.0 2,435 1,291 18.56 Jason 3.80 9.09% 7.62% 1.86% 1.7 638 156 nn Indicated End Zone 0.34 16.15% 3.81% 12.32% 86.2 29 93 0.95 Bou
Slide 24: Macpass 2024 MRE OP/UG
MACPASS 2024 MRE OP/UG ▪ Open-pit Zn Pb Ag constrained Mineral 2024 SLR Class Deposit Tonnes (Mt) ZnEq (%) Zn Grade (%) Pb Grade (%) Ag Grade (g/t) Contained Metal (M Contained Metal (M Contained Metal Resources lbs) lbs) (Moz) Tom 13.63 8.60 5.84 2.63 24.1 1,754 789 10.56 Jason 1.63 8.63 6.96 2.12
Slide 25: Tom and Jason
TOM AND JASON TSX-V: FWZ | FireweedMetals.com 25
Slide 26: Boundary Zone
BOUNDARY ZONE TSX-V: FWZ | FireweedMetals.com 26
Slide 27: 2024 Macpass Resource Sensitivity
2024 MACPASS RESOURCE SENSITIVITY Global MRE Sensitivity – Key Takeaways ✓ All deposits exhibit very similar sensitivities on a global ✓ Resource maintains economic scale even when ‘pressure basis tested’ at +80% cut-off ✓ All deposits demonstrate resilience to elevated cut-off ✓ Potentially mineabl
Slide 28: NSR COG Sensitivity Visualizations
NSR COG SENSITIVITY VISUALIZATIONS 28
Slide 29: Parameters 2018 vs. 2024
PARAMETERS 2018 VS. 2024 Item 2018 MRE 2024 MRE Mining Shape Constraints none OP and UG 2018 MRE vs 2024 MRE Zinc Price USD$/t 1.17 1.40 Key Changes: Lead Price USD$/t 0.99 1.10 • Mining Constraints for Silver Price USD$/oz 16.95 25 Reporting FX rate 1.24 1.32 Cut-off grade CAD$/t 65 30 OP 112 UG •
Slide 30: 2018 MRE vs. 2024 MRE
2018 MRE VS. 2024 MRE Contained ZnEq metal (Mlbs) Contained zinc metal (Mlbs) Comparing unconstrained 2018 MRE with the constrained 2024 18,000 14,000 MRE: 16,000 12,000 14,000 8,003 10,000 ▪ 106% increase in global tonnage (+400% Indicated, +23% 12,000 8,000 5,500 10,000 Inferred) 8,000 6,000 6,000
Slide 31: Macpass Relative Positioning
MACPASS RELATIVE POSITIONING Select Zinc-primary Development Assets - Ranked by Contained Metal (Mt ZnEq ; % ZnEq)* Macpass 2024 Mineral Resource Ranks Within the Top Development Assets Globally, Global Resource - Contained Metal (Mt ZnEq)1 Representing One of The World’s Largest Undeveloped Zinc As
Slide 32: District Potential
DISTRICT POTENTIAL Genetic Model and Geophysical Anomalies in the Macpass District Suggest the Potential for New Discoveries ▪ Structural and Stratigraphic Control: The Tom, Jason, End Zone, and Boundary Zone deposits are located along structurally and stratigraphically controlled feeder-fault syste
Slide 33: 2024 Exploration Program
2024 EXPLORATION PROGRAM ▪ 14,000 m drilling ▪ District-wide greenfield exploration to generate new targets (Zn-Pb-Ag-Au) − 8,000 m step outs at Boundary, Tom, and Jason − Gravity surveying − Areal surveys for LiDAR and not included in 2024 MRE VTEM − Soil sampling − 6,000 m at new greenfield target
Slide 34: Next Steps
NEXT STEPS ▪ Assess the potential for Gallium and Germanium by-products ▪ Mine to Mill assessment: a value-driven internal targeting to the MRE that could further enhance Fireweed’s critical exercise used to help prioritize exploration efforts in the minerals exposure. highest potential value areas.
Slide 35: Thank you for listening.
Thank you for listening. 35 TSX-V: FWZ | FireweedMetals.com 35
Slide 36: Q&A
Q&A 36 TSX-V: FWZ | FireweedMetals.com 36