Fireweed Metals Corp. · TSXV:FWZ
Fireweed Metals — Investor Presentation (April 2026)
37 slides from Fireweed Metals's investor presentation, April 2026
Slide 1: Advancing a Strategic Critical Minerals District
TSX-V: FWZ | OTCQX: FWEDF | FSE: M0G ADVANCING A STRATEGIC CRITICAL MINERALS DISTRICT Proud member of the Corporate Presentation – April 2026
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: Project Locations & Existing Infrastructure
PROJECT LOCATIONS & EXISTING INFRASTRUCTURE N Macpass District Gayna (Zn-Pb-Ag) Project Macpass (Zn-Pb-Ag-Ga-Ge) & Mactung (W) Projects Exploration: geologic setting and mineralization (~985 km2 land package) in-line with high-grade reef-style deposits Macpass: multiple large-scale sediment hosted z
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS Advancing a Critical Metals District: Owner of a 985 km2 land package, comprising two of the world’s largest undeveloped resources in their class:1 Mactung (Tungsten) The world’s largest high-grade tungsten deposit1 Successful 2025 field program completed to inform updated Feas
Slide 5: Fireweed Corporate Overview
FIREWEED CORPORATE OVERVIEW Capital Structure Fireweed Share Price Performance (LTM)1 Share Price1 (C$ / sh) $4.63 Issued & O/S Shares1,2 (M shares) 226.9 Market Cap.1 (C$ M) $1,050.4 52-week High / Low1 (C$ / sh) $4.70 / $1.45 $25.73 Cash Balance (C$ M) + $61.5 (Recent Financing)4 Analyst Coverage
Slide 6: Strategic Investment - JX Advanced Metals
STRATEGIC INVESTMENT - JX ADVANCED METALS JX Strategic Investment In Fireweed $47.4 M strategic investment (5% equity) Expanding JX-Lundin Group relationship (North & South America) Demonstrating FWZ’s role in critical supply chains Integrated Global Metals Company Japanese headquartered with global
Slide 7: Management, Leadership and Board of Directors
LEADERSHIP Adam Lundin Ian Gibbs Chairman Director, President & CEO ▪ Lundin Mining Corporation – Chairman ▪ Filo Corp. – CFO* ▪ LunR Royalties – President, CEO, & Chairman ▪ Josemaría Resources – CFO* ▪ Filo Corp. – Chairman* ▪ Africa Oil Corp.– CFO* ▪ Josemaría Resources – Director, President & CE
Slide 8: Regional Geology
REGIONAL GEOLOGY Macpass is Located at the Heart of a Rapidly Developing Natural Resource Hub Selwyn Basin Prolific zinc district Faro: world’s largest open-pit Zn-Pb mine during the 1970’s and 1980’s Howard’s Pass: one of the largest undeveloped Zn Dublin deposits globally Alaska Northwest Gulch To
Slide 9: Mactung Project
Mactung Project A Strategic North American Tungsten Resource We respectfully acknowledge that the Mactung Project is located on the Traditional Territories of the Kaska Dena Nation and the First Nation of Na-Cho Nyäk Dun, and the Sahtu Settlement Area. TSX-V: FWZ | FireweedMetals.com 9
Slide 10: The World's Largest High-Grade Tungsten Deposit
THE WORLD’S LARGEST HIGH-GRADE TUNGSTEN DEPOSIT Leading the Way in Unlocking our Critical Metals District Mactung Highlights ✓ Large, high-grade, tungsten deposit, 100% owned by Fireweed 948km2 ✓ Adjacent to Macpass ✓ Accessible via the North Canol Road and the Macmillan Pass aerodrome ✓ Historic
Slide 11: Tungsten Overview
TUNGSTEN OVERVIEW Properties • Highest melting point metal (3,422 °C) • Ultra-dense (virtually as dense as gold) • Exceptional hardness & strength • Resistance to heat and corrosion Tungsten remains stable under extreme conditions, making it one of the most durable materials known Industrial Applica
Slide 12: Why Tungsten?
WHY TUNGSTEN? 2024e Global Tungsten Production (t) Source: USGS Mineral Commodity Summary 2025 No Domestic Tungsten Sources Critical and Strategic No North American production of tungsten concentrates Tungsten has been added to the U.S., Canada, E.U., and since 2015 NATO critical minerals lists give
Slide 13: Global Critical Minerals Policy Environment
• Up to $1 billion for Defense Production Act Title III awards GLOBAL CRITICAL MINERALS • Favourable debt instruments from EXIM Bank Supply Chain Resilience Initiative and Project Vault: $10 billion for critical minerals strategic reserve POLICY ENVIRONMENT • $2 billion National Defense Stockpile; A
Slide 14: Mactung Stands Out
MACTUNG STANDS OUT Mactung 2023 Resource Estimate WO3 Grade Contained Category Tonnage (Mt) (%) WO3 (mtu)* Indicated (underground) 12.17 1.05% 12,789,000 Indicated (open pit) 29.32 0.59% 17,367,000 Total Indicated (UG+OP) 41.49 0.73% 30,156,000 Inferred (underground) 2.82 0.73% 2,066,000 Mactung Gra
Slide 15: Program Overview
PROGRAM OVERVIEW Advancing Project in Line with DPA Title III Work Program Drill Program (Completed) Updated Mineral • 11,117 m of multi-purpose drilling (geotech., hydrogeological, and resource definition) Resource Estimate • 27,753 m core scanning (9,575 m new + 18,178 m historical) (Commenced) •
Slide 16: 2025 Field Highlights
2025 FIELD HIGHLIGHTS Demonstrated Scale and Grade of Deposit Dale Camp – 49 Person Capacity Dale Creek Bridge MT25-048 12 m true width of 6.21% WO3 - (Sekwi 2B) MT25-034 29 m true width of 2.56% WO3 - (Sekwi 2B) MT25-051 16 m true width of 4.53% WO3 - (Sekwi 2B) MT25-038 15 m true width of 2.15% WO
Slide 17: Mactung Deposit
MACTUNG DEPOSIT • Updated and refined geological model based on additional drilling and core scanning to inform mineral resource update • High-grade stratiform tungsten mineralization hosted in multiple wide zones • Resource includes high-grade mineralization present at surface • The highest-grade l
Slide 18: Macpass Project
Macpass Project Rapidly-Growing District 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. 18 TSX-V: FWZ | FireweedMetals.com 18
Slide 19: Macpass District
MACPASS DISTRICT Multiple Large-scale Sediment Hosted Zinc-primary Deposits Forming One of the World’s Largest Undeveloped Zinc Districts1 Macpass 2024 MRE The Macpass District 55.98 Mt at 7.27% ZnEq 2,3 (5.50% Zn, 1.58% Pb, and 24.2 g/t Ag) Indicated + 48.46 Mt at 7.48% ZnEq 2,3 (5.15% Zn, 2.08% Pb
Slide 20: Macpass Relative Positioning
MACPASS RELATIVE POSITIONING Select Zinc-primary Development Assets - Ranked by Contained Metal (Mt ZnEq ; % ZnEq)* Macpass Ranks as a Top Undeveloped Zinc Asset Not Held by a Major Global Resource - Contained Metal (Mt ZnEq)1 Macpass 2024 Indicated Macpass 2024 Inferred Note: Ranking excludes asset
Slide 21: Tom South Step-Outs
TOM SOUTH STEP-OUTS • Tom South is interpreted as a fold hinge — the thickened axis and feeder zone around which the entire Tom deposit is folded − 2024 drilling: successful high-grade intercepts up-dip and along strike expanded massive Tom East sulphide lense Tom Underground − 2025 program: widely
Slide 22: Tom South Upside Potential
TOM SOUTH UPSIDE POTENTIAL Mapped fold hinge Targeting zone along the Itsi Formation Fuller Lake and Macmillan Pass contacts: Section looking East • Continuous high-grade mineralization (stratiform Inferred contact depth from and massive sulphide) Level of historical workings VTEM resistivity invers
Slide 23: Tom East Upside Potential
TOM EAST UPSIDE POTENTIAL Tom East Resource (OP+UG) Targeting high grade 1.61 Mt at 16.59% ZnEq1 (Indicated)** massive sulfides: 1.03 Mt at 24.16% ZnEq2 (Inferred)** Anticline • Tom East: well defined, very high-grade stratiform and massive Tom West Resource (OP+UG) 15.92 Mt at 9.23% ZnEq3 (Indicate
Slide 24: Gayna Project
Gayna Project High Impact Frontier Exploration We respectfully acknowledge that the Gayna Project is located within Settlement Areas of Sahtu and Gwich’in, and the Traditional Territory of First Nation of Na-Cho Nyäk Dun. TSX-V: FWZ | FireweedMetals.com Note: The Company acknowledges that the Gayna
Slide 25: Exploration Potential for Zinc, Germanium, Gallium, Lead, and Silver
EXPLORATION POTENTIAL FOR ZINC, GERMANIUM, GALLIUM, LEAD, AND SILVER Gayna Provides Optionality and Further Exposure to Critical Metals • Located 180 km north of Macpass, in the Mackenzie Mountains, NWT Gayna • Geological setting and mineralization: similar to that of a reef-style (Zn-Pb-Ag-Ga-Ge) d
Slide 26: Thank you!
Thank you! Please visit us online at fireweedmetals.com and follow for updates. Fireweed Metals Corp. Head Office Suite 2800, Four Bentall Centre TSX-V: FWZ +1 (604) 689-7842 1055 Dunsmuir Street OTCQX: FWEDF info@fireweedmetals.com PO Box 49225 Vancouver, BC V7X 1L2 FSE: M0G 26
Slide 27: Appendix
Appendix 27 TSX-V: FWZ | FireweedMetals.com 27
Slide 28: About Fireweed Metals
ABOUT FIREWEED METALS Fireweed is a Canadian company with the mission to explore and develop critical metals assets through progressive leadership, high standards, innovation, and collaborative partnerships for the benefit of present and future generations. OUR VISION Fireweed Metals will sustainabl
Slide 29: Our Values
2 9 OUR VALUES INTEGRITY Honesty, transparency, accountability, environmental and social stewardship Respect PARTNERSHIPS Creating opportunities, realizing benefits, advancing together for the Land and People PEOPLE Inclusivity, collaboration, health & safety TSX-V: FWZ | FireweedMetals.com 29
Slide 30: Sustainability Approach
SUSTAINABILITY APPROACH • Implement robust practices informed by the aspirations and interests of Indigenous peoples • Be environmentally and socially responsible • Seek the consent of local Indigenous groups TSX-V: FWZ | FireweedMetals.com 30
Slide 31: Commodity Fundamentals
COMMODITY FUNDAMENTALS MP Zinc's unique properties make it an essential metal for everyday life. Zinc plays a crucial role in: ▪ Renewable Energy ▪ Healthcare ▪ Transportation ▪ Infrastructure ▪ Food Security ▪ Industrial Applications GP ▪ Energy Storage ▪ Electronics Tungsten is an extremely versat
Slide 32: U.S. DPA & Canada CMIF Awards
U.S. DPA & CANADA CMIF AWARDS U.S. Defense Production Act (DPA) Title III Canadian Critical Mineral Infrastructure Fund US$15.8 M C$12.9 M Objective Objective Advance Mactung to a Final Investment Decision (“FID”), a key precursor to Advance planning efforts to enable infrastructure improvements tha
Slide 33: Why Zinc?
WHY ZINC? TSX-V: FWZ | FireweedMetals.com 33
Slide 34: Macpass Deposit Geology
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 Reinterpreted
Slide 35: District Potential
DISTRICT POTENTIAL Genetic Model and Geophysical Anomalies in the Macpass District Suggest the Potential for Further Discoveries Structural and Stratigraphic Control Tom, Jason, End Zone, and Boundary deposits are located adjacent to 5-10 km spaced feeder-fault splays of the Macmillan-Hess Fault Sys
Slide 36: Macpass 2024 MRE
MACPASS 2024 MRE Macpass 2024 MRE Gallium & Germanium By-Products Category Deposit Tonnage Grade Contained Metal Category Deposit Tonnage Grade Contained Metal ZnEq 1 Zn Pb Ag Zn Pb Ag Ga Ge Ga Ge (Mt) (%) (%) (%) (g/t) (M lbs) (M lbs) (M oz) (Mt) (g/t) (g/t) (kg) (kg) Tom 17.52 9.90% 6.30% 3.34% 32
Slide 37: Macpass Resource Footnotes
MACPASS 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