Fireweed Upgrades to Trade Shares on the OTCQX Best Market

VANCOUVER, British Columbia, March 12, 2024 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQX: FWEDF; FSE: M0G) is pleased to announce its upgrade from the OTCQB Venture Market to the OTCQX Best Market (“OTCQX”), a top-tier public market in the United States. As of today, Fireweed's common shares are actively trading on OTCQX under the trading symbol "FWEDF." This significant step underscores the Company's commitment to accessibility for U.S. investors, aligning with the high standards set by OTCQX.

CEO Statement

Brandon Macdonald, CEO, stated “Fireweed’s transition from OTCQB to OTCQX affirms the quality of our Company and projects. By being on the OTCQX platform, we've broadened accessibility to Fireweed shares, catering to a wider spectrum of investors. This is poised to enhance our shareholder base both in the U.S. and globally, amplifying our overall liquidity.”

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

About Fireweed Metals Corp. (TSXV: FWZ; OTCQX: FWEDF; FSE: M0G): Fireweed is a public mineral exploration company on the leading edge of Critical Minerals project development. Fireweed is well-funded, with a healthy balance sheet, and has three projects located in Canada:

• Macpass Project (Zinc-Lead-Silver): Fireweed owns 100% of the district-scale 940 km² Macmillan Pass (“Macpass”) Project in Yukon, Canada, which is host to one of Earth’s largest undeveloped resources of zinc**, a Critical Mineral. 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, Tom South, 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): Fireweed owns 100% interest in the 38 km² Mactung Project located adjacent to the Macpass 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 Project (Zinc-Lead-Silver-Gallium-Germanium): Fireweed owns 100% of the 129 km² Gayna Project located 180 km north of the Macpass 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. A re-evaluation of the geology supported by recent ground gravity geophysics results, soil surveys, and high-grade rock samples, indicate drill targets with potential for high-grade Kipushi-style massive sulphide mineralization.