FWZ Fireweed Metals Corp

FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to report the final results from the 2023 Boundary Zone drilling campaign at its Macmillan Pass (“Macpass”) Project, Yukon, Canada.

Highlights

• Hole NB23-036 intersected 45.22 m of 18.98% zinc, 2.24% lead and 114.9 g/t silver (44 m true width) including 39.22 m of 20.84% zinc, 2.48% lead and 115.4 g/t silver.
• Hole NB23-037 intersected 118.36 m of 11.58% zinc, 1.75% lead and 54.9 g/t silver (47 m true width) including 27.63 m of 19.06% zinc, 0.74% lead and 58.2 g/t silver.
• Assays are pending for 11 holes from the Tom deposit, and two holes from the Jason deposit.

CEO Statement

Brandon Macdonald, CEO, stated, “2023 was a pivotal year at Boundary Zone in which we discovered a high-grade feeder system that connects the mineralization and forms a continuous zone with increasing grade and true widths at depth. These final results exemplify the spectacular grades that we see at this best-in-class project, with holes from this year containing not just the feeder zone, but also the vein mineralization halo around it that contains some remarkably high-grade breccias. These final holes from the 2023 season solidify Boundary Zone as a significant addition to the Macpass project, and with a few holes still pending from Tom and Jason, we are looking forward to integrating all results into a mineral resource estimate in the coming months to begin to understand the enormity of the mineral endowment within this premier zinc district.”

Summary

The mineralization from drill holes in this release primarily comprises stratiform (layer-parallel) and massive (>50% sulphides) sulphides in the western and central areas of Boundary Zone. This mineralization is sub-vertical with sharp margins, occurring from near-surface to at least a depth of 450 m and across a strike length of 550 m. We also report intersections of vein and breccia mineralization that occur on both sides of the tabular stratiform sulphide zones. The intersection in holes NB23-036 and NB23-037 continue to demonstrate high zinc, lead, and silver grades that are interpreted as forming from higher temperature fluids in association with a feeder zone supplying metals to a mineralized system.

Results

The drill holes in this release are located in the central and western areas of Boundary Zone and targeted the stratiform to massive sulphide body with a focus on stepping out from known feeder-style mineralization. Holes NB23-036 and NB23-037 intersected broad, high-grade intervals of massive sulphides rich in zinc, lead, and silver that are correlated with this interpreted feeder zone. Stratiform massive sulphides were also intersected in NB23-034 and NB23-038. Breccia and vein mineralization was intersected in NB23-033, NB23-034, NB23-035 and NB23-036, NB23-037 and NB23-038.

Table 1: Assay highlights for holes included within this release for the 2023 drilling program, Boundary Zone

Drillhole	Interval	From (m)	To (m)	Interval Width (m)	Est. True Width (m) †	Zinc (%)	Lead (%)	Silver (g/t)	Bulk Density (t/m3)
NB23-034	Primary	426.78	479.78	53.00	21	12.07	1.05	53.6	4.05
NB23-034	Including	436.87	472.38	35.51	14	15.61	0.92	57.0	4.07
NB23-035	Primary	396.96	417.18	20.22	Unknown	6.51	1.15	51.5	3.54
NB23-036	Primary	95.50	171.32	75.82	N/A	4.21	0.25	9.9	2.87
NB23-036	Including	108.87	121.5	12.63	N/A	6.97	0.32	16.6	3.10
NB23-036	>Including	108.87	112.56	3.69	N/A	14.41	0.08	17.4	3.23
NB23-036	Including	156.00	171.32	15.32	N/A	7.31	0.90	19.1	2.87
NB23-036	Primary	210.33	255.55	45.22	44	18.98	2.24	114.9	4.13
NB23-036	Including	235.64	243.74	8.10	7.9	28.90	4.75	142.2	3.95
NB23-036	Primary	304.06	381.99	77.93	N/A	2.58	0.31	9.8	3.25
NB23-036	Including	328.18	334.21	6.03	N/A	5.37	0.08	7.1	3.25
NB23-037	Primary	352.74	471.1	118.36	47	11.58	1.75	54.9	3.81
NB23-037	>Including	353.71	360.34	6.63	2.6	15.89	3.39	158.7	4.40
NB23-037	>Including	405.68	433.31	27.63	11	19.06	0.74	58.2	3.78

N/A: Not Applicable due to the variable shapes of breccia and vein mineralization.

† See “Data Verification” for a description of true width calculations

Fireweed successfully intersected extensive pyrite-sphalerite-galena as stratiform massive sulphides, laminated mineralization, veins, and breccias in the 2023 step-outs (Photos 1 to 3). Mineralization has been intersected in every step-out hole that has been completed to depth. Assays have now been received for all 2023 Boundary Zone holes (Tables 1 and 2). Summaries for new drill results reported in this news release are as follows:

• Hole NB23-036 intersected 45.22 m (estimated true width of 44 m) of laminated and massive sulphides grading 18.98% zinc, 2.24% lead, and 114.9 g/t silver, a near surface interval of breccia and vein mineralization 75.82 m in width grading 4.21% zinc, 0.25% lead and 9.9 g/t silver and another interval of breccia and vein mineralization 77.93 m in width grading 2.58% zinc, 0.31% lead and 9.8 g/t silver.
• Hole NB23-037 intersected 118.36 m (estimated true width of 47 m) of laminated and massive sulphides grading 11.58% zinc, 1.75% lead and 54.9 g/t silver, as well as two near surface intervals of breccia and vein mineralization 11.57 m in width grading 8.05% zinc and 14.6 g/t silver and 2.95 m in width grading 10.20% zinc and 14.8 g/t silver.
• Hole NB23-034 intersected 53.00 m (estimated true width of 21 m) of laminated and massive sulphides grading 12.07% zinc, 1.05% lead and 53.6 g/t silver, and also an interval of breccia and vein mineralization 25.96 m in width grading 3.97% zinc and 8.9 g/t silver.
• Hole NB23-035 intersected 20.22 m of stratiform and massive sulphide with an unknown true width grading 6.51% zinc, 1.15% lead and 51.5 g/t silver as well as three near surface intervals of breccia and vein mineralization: 5.17 m grading 17.81% zinc and 19.1 g/t silver; 6.36 m grading 5.94% zinc, 0.15% lead and 9.8 g/t silver; and 6.45 m grading 3.00% zinc and 4.2 g/t silver.
• Hole NB23-038 intersected 12.91 m (estimated true width of 9.0 m) of stratiform and massive sulphide grading 5.00% zinc, 0.97% lead and 44.4 g/t silver, and an interval of breccia and vein mineralization 23.16 m in width grading 2.04% zinc and 7.8 g/t silver.
• Hole NB23-033 intersected three intervals of breccia and vein mineralization: 4.76 m grading 12.10% zinc, 0.61% lead and 27.2 g/t silver; 8.76 m grading 3.05% zinc and 5.9 g/t silver; and 6.58 m grading 5.55% zinc and 5.8 g/t silver.

See Tables 1 to 4, Long Section M–M’, Cross Sections C–C’, K–K’, N–N’, R–R’, S–S’ and Maps 2 and 3 below for further details.

Out of the 39 holes that were successfully completed to depth at Boundary Zone in 2023, only 3 were infill holes; the remaining 36 were step-out holes that tested the vein and breccia mineralization, laminated stratiform mineralization, and massive sulphide zones. The geometry and stratigraphic sequence intersected in these holes continue to support the idea that the laminated and massive sulphide mineralization are part of the same geological layer at Boundary Zone, forming an approximately tabular stratiform zone. Step out drilling down-dip intersected abundant galena, supporting the presence of the conceptual feeder zone at least 220 m in strike. The mineralization in the massive stratiform layer extends from surface to at least 450 m down-dip, over 550 m in strike with a variable true thickness that is shown on Long Section M–‍M’, thinning around the edges and reaching thicknesses of up to 50 m at its widest point. The zone remains open for extension.

Extensive vein and breccia mineralization at Boundary Zone occurs both stratigraphically above and below the main stratiform laminated massive sulphide zone. This mineralization forms within a halo approximately 100 m to 150 m wide on both sides of the stratiform laminated zone and is interpreted as a stockwork of randomly oriented veins and breccia zones. Many wide intervals of vein and breccia style sphalerite mineralization have been encountered in 2023 step-out holes and four infill holes (Table 3).

2023 Drill Program

The 2023 program achieved 22,500 m of drilling mostly focused on Boundary, Tom, and Jason zones in addition to five metallurgical drill holes at Mactung (Map 1). Use of directional drilling, in which multiple secondary drill holes are initiated at depth from one primary hole, saved an estimated 1,800 m of drilling compared to traditional drilling of multiple new holes from surface for a total equivalent metreage of 24,300 m in 2023. This was Fireweed’s largest ever program and the biggest drill program in Yukon in 2023.

About Fireweed Metals Corp. (TSXV: FWZ; OTCQB: FWEDF; FSE:M0G): Fireweed Metals 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 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 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-Gallium-Germanium): Fireweed owns 100% of the 128.75 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 recent reevaluation of the geology indicates the potential for high-grade Kipushi-style massive sulphide mineralization.

Qualified Person Statement

Technical information in this news release has been approved by Fireweed’s VP Geology, Dr. Jack Milton, P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.

In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market (www.otcmarkets.com) and is DTC eligible for enhanced electronic clearing and settlement. In Europe, Fireweed (FSE: M0G) trades on the Frankfurt Stock Exchange.

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

Contact: Brandon MacdonaldPhone: (604) 646-8361Email: info@fireweedmetals.com

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 core (50.5 mm/ 1.99-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. The cores for analyses were marked for sampling based on geological intervals with individual samples 2 m or less in length, with 1 m 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, four in-house bulk density standards (mineralized drill core from the Tom deposit that span a range of densities) have been used and show an 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 are included in the sample stream as a quality control measure and are reviewed after analyses are received. Standards and blanks in 2023 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 drill results reported is 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). 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). For BV samples, silver is reported in this news release by method AQ270, and zinc and lead are reported by LF725 or LF726. 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, Table 2, 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 intercepts at Boundary Zone based on assay results, geological logging, stratigraphic correlation, and bedding measurements from oriented core. The massive sulphide mineralization and laminated mineralization at Boundary Zone are mostly 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. Vein and breccia mineralization at Boundary Zone are interpreted to be stockworks with variable shapes and true widths cannot be accurately estimated, therefore only intersected widths are reported, and true widths are marked as N/A in the assay tables. 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.

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 and projections of mineralization, 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 Macpass 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, 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, 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, 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/ 

Map 1: Macpass Project and Mactung Project locations

Map 2: Location of 2023 Boundary Zone drillholes, cross sections and long section M–M’. See below for sections.

Map 3: Mineralized intervals in 2023 drilling and pre-2023 drilling defining a stratiform laminated to massive sulphide zone that is connected at depth (purple polygon) and a broader envelope of vein, breccia, and other stratiform zinc mineralization, showing significant areal extent (within green dashed line).

Long Section M–M’ – Estimated true thickness interpretation and selected intersections with zinc grades shown within the laminated to massive sulphide stratiform zone of pyrite-sphalerite-galena mineralization at Boundary Zone. Halo vein and breccia mineralization is not included in this long section.

Cross Section C–C’ — Including analytical results for hole NB23-033.

Cross Section K–K’ — Including analytical results for hole NB23-035 and NB23-037

Cross Section N–N’ — Including analytical results for hole NB23-036.

Cross Section R–R’ — Including analytical results from Holes NB23-038

Cross Section S–S’ — Including analytical results from Hole NB23-034

Photo 1: High resolution core scanning image of stratiform and massive to semi-massive sulphide mineralization in NB23-036 (239.6 m to 249.2 m)

Photo 2: High resolution core scanning image stratiform and massive to semi-massive sulphide mineralization in NB23-037 (412.1 m to 422.1 m)

Photo 3: High resolution core scanning image of sphalerite-pyrite-siderite vein mineralization in NB23-037 (235.1 m to 244.9 m)

Table 2: NB23-033, NB23-034, NB23-035, NB23-036, NB23-037, NB23-038 drill results

Drillhole	Interval	From (m)	To (m)	Interval Width (m)	Est. True Width (m)	Zinc (%)	Lead (%)	Silver (g/t)	Bulk Density (t/m3)
NB23-033	Entire Hole†	0	681	681	N/A	0.37	0.06	2.7	2.87
NB23-033	Primary	77.24	82	4.76	N/A	12.10	0.61	27.2	3.10
NB23-033	Including	77.24	81.16	3.92	N/A	14.25	0.49	29.3	3.19
NB23-033	>Including	77.24	81.16	3.92	N/A	14.25	0.49	29.3	3.19
NB23-033	Primary	277.36	286.12	8.76	N/A	3.05	0.01	5.9	2.76
NB23-033	Primary	635.50	642.08	6.58	N/A	5.55	0.02	5.8	3.22
NB23-034	Entire Hole†	0	580.00	580.00	N/A	1.82	0.16	9.4	3.01
NB23-034	Primary	426.78	479.78	53.00	21	12.07	1.05	53.6	4.05
NB23-034	Including	432.41	478.78	46.37	18	13.28	1.12	57.3	4.12
NB23-034	>Including	435.41	475.38	39.97	16	14.76	1.10	59.5	4.11
NB23-034	>>Including	436.87	472.38	35.51	14	15.61	0.92	57.0	4.07
NB23-034	Primary	550.29	576.25	25.96	N/A	3.97	0.05	8.9	3.53
NB23-034	Including	550.29	554.55	4.26	N/A	10.00	0.09	20.0	4.19
NB23-035	Entire Hole†	0	552.28	552.28	N/A	0.68	0.07	4.3	2.87
NB23-035	Primary	76.12	81.29	5.17	N/A	17.81	0.07	19.1	3.19
NB23-035	Primary	276.00	282.36	6.36	N/A	5.94	0.15	9.8	2.93
NB23-035	Primary	342.67	349.12	6.45	N/A	3.00	0.01	4.2	2.79
NB23-035	Primary	396.96	417.18	20.22	Unknown	6.51	1.15	51.5	3.54
NB23-036	Entire Hole†	0	397.20	397.20	N/A	4.40	0.47	22.9	3.12
NB23-036	Primary	95.50	171.32	75.82	N/A	4.21	0.25	9.9	2.87
NB23-036	Including	108.87	121.5	12.63	N/A	6.97	0.32	16.6	3.10
NB23-036	>Including	108.87	112.56	3.69	N/A	14.41	0.08	17.4	3.23
NB23-036	Including	156.00	171.32	15.32	N/A	7.31	0.90	19.1	2.87
NB23-036	Primary	210.33	255.55	45.22	44	18.98	2.24	114.9	4.13
NB23-036	Including	211.33	255.55	44.22	43	19.35	2.28	115.5	4.12
NB23-036	>Including	216.33	255.55	39.22	38	20.84	2.48	115.4	4.05
NB23-036	>>Including	235.64	243.74	8.10	7.9	28.90	4.75	142.2	3.95
NB23-036	Primary	304.06	381.99	77.93	N/A	2.58	0.31	9.8	3.25
NB23-036	Including	328.18	334.21	6.03	N/A	5.37	0.08	7.1	3.25
NB23-036	Including	365.85	381.99	16.14	N/A	3.52	0.81	15.3	3.34
NB23-037	Entire Hole†	0	544	544	N/A	3.46	0.49	17.2	3.09
NB23-037	Primary	70.05	73.00	2.95	N/A	10.20	0.09	14.8	3.14
NB23-037	Primary	235.73	247.30	11.57	N/A	8.05	0.03	14.6	2.89
NB23-037	Including	235.73	242.30	6.57	N/A	11.38	0.05	21.3	2.94
NB23-037	>Including*	237.61	242.30	4.69	N/A	13.93	0.06	24.8	2.98
NB23-037	Primary	352.74	471.10	118.36	47	11.58	1.75	54.9	3.81
NB23-037	Including	353.71	463.47	109.76	44	12.05	1.76	55.4	3.87
NB23-037	>Including	353.71	360.34	6.63	2.6	15.89	3.39	158.7	4.40
NB23-037	>Including	405.68	433.31	27.63	11	19.06	0.74	58.2	3.78
NB23-038	Entire Hole†	0	426.5	426.5	N/A	0.52	0.07	5.9	2.97
NB23-038	Primary	299.38	312.29	12.91	9.0	5.00	0.97	44.4	4.06
NB23-038	Including	299.38	304.20	4.82	3.4	10.87	2.33	78.9	4.12
NB23-038	>Including	299.38	301.32	1.94	1.4	17.89	5.12	156.4	4.37
NB23-038	Primary	367.00	390.16	23.16	N/A	2.04	0.09	7.8	3.74

* Denotes intervals with recovery of less than 85%; N/A: Not Applicable due to the variable shapes of breccia and vein mineralization.

† Entire hole intervals contain large continuous sections of very low grade or not mineralized material (below 2% zinc)—intersections of continuous higher-grade material (>2% zinc) are listed as Primary and Included intervals and represent mineralized material.

‡ See “Data Verification” for a description of true width calculations

Table 3: 2023 Drilling Summary

Drillhole	Length (m)	Zone	Significant Intersection	Type
NB23-001	460	Boundary	Results disclosed Jul 26 2023	Step Out
NB23-002	351	Boundary	Results disclosed Jul 26 2023	Step Out
NB23-003	418	Boundary	Results disclosed Jul 26 2023	Step Out
NB23-004	432	Boundary	Results disclosed Aug 22 2023	Step Out
NB23-005	234	Boundary	Results disclosed Aug 22 2023	Step Out
NB23-006	373	Boundary	Results disclosed Aug 22 2023	Step Out
NB23-007	461	Boundary	Results disclosed Aug 22 2023	Step Out
NB23-008	385	Boundary	Results disclosed Aug 22 2023	Step Out
NB23-009	67	Boundary	Hole abandoned and redrilled as NB23-011	Step Out
NB23-010	96	Boundary	Results disclosed Oct 24 2023	Step Out
NB23-011	289	Boundary	Results disclosed Oct 24 2023	Step Out
NB23-012	452	Boundary	Results disclosed Oct 24 2023	Step Out
NB23-013	551	Boundary	Results disclosed Oct 24 2023	Step Out
NB23-014	223	Boundary	Results disclosed Oct 24 2023	Step Out
NB23-015	339	Boundary	Results disclosed Oct 24 2023	Step Out
NB23-016	460	Boundary	Results disclosed Oct 24 2023	Step Out
NB23-017	96	Boundary	Results disclosed Nov 30 2023	Step Out
NB23-018	195	Boundary	Results disclosed Nov 30 2023	Step Out
NB23-019	560	Boundary	Results disclosed Nov 30 2023	Step Out
NB23-020	414	Boundary	Results disclosed Nov 30 2023	Step Out
NB23-021	442	Boundary	Results disclosed Nov 30 2023	Infill
NB23-022	386	Boundary	Results disclosed Jan 9 2024	Step Out
NB23-022D1	448	Boundary	Results disclosed Jan 9 2024	Step Out
NB23-023	181	Boundary	Results disclosed Nov 30 2023	Step Out
NB23-024	402	Boundary	Results disclosed Nov 30 2023	Infill
NB23-025	580	Boundary	Results disclosed Nov 30 2023	Step Out
NB23-026	111	Boundary	Results disclosed Nov 30 2023	Step Out
NB23-027	396	Boundary	Results disclosed Nov 30 2023	Infill
NB23-028	477	Boundary	Results disclosed Jan 9 2024	Step Out
NB23-029	640	Boundary	Results disclosed Jan 9 2024	Step Out
NB23-029D1	689	Boundary	Results disclosed Jan 9 2024	Step Out
NB23-030	526	Boundary	Results disclosed Nov 30 2023	Step Out
NB23-031	574	Boundary	Results disclosed Jan 9 2024	Step Out
NB23-032	495	Boundary	Results disclosed Jan 9 2024	Step Out
NB23-033	681	Boundary	Results disclosed in this release	Step Out
NB23-034	580	Boundary	Results disclosed in this release	Step Out
NB23-035	552	Boundary	Results disclosed in this release	Step Out
NB23-036	397	Boundary	Results disclosed in this release	Step Out
NB23-037	544	Boundary	Results disclosed in this release	Step Out
NB23-038	427	Boundary	Results disclosed in this release	Step Out
TS23-001	143	Tom North	Minor Mineralization Encountered	Step Out
TS23-002	182	Tom North	Minor Mineralization Encountered	Step Out
TS23-003	299	Tom West	Wide Zone Encountered	Step Out
TS23-004	369	Tom West	Moderate Zone Encountered	Step Out
TS23-005	407	Tom West	Moderate Zone Encountered	Step Out
TS23-006	137	Tom West	Moderate Zone Encountered	Step Out
TS23-007	215	Tom West	Moderate Zone Encountered	Step Out
TS23-008	428	Tom West	Moderate Zone Encountered	Step Out
TS23-009	749	Tom South	Wide Zone Encountered	Step Out
TS23-009D1	747	Tom South	Wide Zone Encountered	Redrill
TS23-009D2	821	Tom South	Wide Zone Encountered	Step Out
JS23-001	631	Jason South	Narrow Zone Encountered	Step Out
JS23-001D1	665	Jason South	Wide Zone Encountered	Step Out
BX23-001	219	Boundary South	No significant mineralization	Exploration
BX23-002	144	Boundary South	No significant mineralization	Exploration
KB23-001	368	Kobuk	No significant mineralization	Exploration
KB23-002	284	Kobuk	No significant mineralization	Exploration

Table 4: Drill Hole Collar Information

Drillhole	Zone	Length (m)	Easting	Northing	Elevation (m.s.l)	Azimuth (°)	Dip (°)
NB23-001	Boundary	460	422297	7010471	1185.86	211.99	-76.42
NB23-002	Boundary	351	422235	7010525	1194.57	214.06	-70.22
NB23-003	Boundary	418	422235	7010525	1194.57	213.40	-78.00
NB23-004	Boundary	432	422171	7010556	1203.00	213.91	-78.08
NB23-005	Boundary	234	422058	7010589	1207.95	199.63	-49.74
NB23-006	Boundary	373	422171	7010556	1203.00	215.44	-70.02
NB23-007	Boundary	461	422058	7010589	1207.95	206.37	-86.43
NB23-008	Boundary	385	422171	7010556	1203.00	215.83	-60.07
NB23-009	Boundary	67	422058	7010589	1208.67	198.54	-75.41
NB23-010	Boundary	96	422241	7010385	1150.41	212.28	-45.00
NB23-011	Boundary	289	422058	7010589	1208.67	201.59	-75.40
NB23-012	Boundary	452	422289	7010534	1200.90	211.75	-69.90
NB23-013	Boundary	551	422072	7010666	1233.59	214.94	-77.68
NB23-014	Boundary	223	422241	7010384	1150.86	213.68	-70.83
NB23-015	Boundary	339	422241	7010385	1150.41	213.36	-84.00
NB23-016	Boundary	461	422274	7010600	1216. 70	209.88	-72.96
NB23-017	Boundary	96	422279	7010359	1142.67	191.27	-46.90
NB23-018	Boundary	195	422279	7010359	1142.67	190.21	-65.21
NB23-019	Boundary	561	422289	7010534	1200.90	209.95	-81.31
NB23-020	Boundary	414	422465	7010510	1191.44	204.85	-63.35
NB23-021	Boundary	442	422391	7010500	1190.07	201.97	-77.01
NB23-022	Boundary	386	421948	7010672	1232.44	178.85	-74.18
NB23-022D1	Boundary	448	421948	7010672	1232.44	177.78	-74.00
NB23-023	Boundary	181	422449	7010351	1145.42	211.82	-49.18
NB23-024	Boundary	405	422348	7010550	1203.82	199.65	-50.18
NB23-025	Boundary	582	422343	7010620	1219.03	196.94	-74.05
NB23-026	Boundary	111	422449	7010351	1145.42	210.02	-65.44
NB23-027	Boundary	451	422348	7010550	1203.82	197.18	-72.46
NB23-028	Boundary	467	422222	7010587	1209.75	211.38	-65.44
NB23-029	Boundary	630	422124	7010731	1250.31	196.21	-75.67
NB23-029D1	Boundary	690	422124	7010731	1250.31	196.21	-75.67
NB23-030	Boundary	526	422535	7010614	1214.65	211.44	-62.01
NB23-031	Boundary	574	422329	7010671	1235.88	207.69	-69.87
NB23-032	Boundary	493	422165	7010640	1224.09	210.08	-62.01
NB23-033	Boundary	681	422228	7010663	1233.01	211.31	-73.88
NB23-034	Boundary	580	422138	7010674	1237.24	199.07	-72.40
NB23-035	Boundary	552	422228	7010663	1232.97	199.00	-72.02
NB23-036	Boundary	398	422289	7010534	1200.89	212.26	-59.46
NB23-037	Boundary	544	422228	7010663	1232.94	204.73	-66.10
NB23-038	Boundary	427	422001	7010675	1233.60	179.75	-68.10
TS23-001	Tom North	143	441761	7004226	1492.16	075.08	-49.66
TS23-002	Tom North	182	441761	7004226	1492.16	074.97	-80.38
TS23-003	Tom West	299	441676	7004024	1445.00	074.17	-68.51
TS23-004	Tom West	369	441694	7003884	1463.34	067.38	-71.48
TS23-005	Tom West	407	441761	7003770	1510.00	063.25	-75.35
TS23-006	Tom West	137	441779	7004076	1485.36	065.15	-50.08
TS23-007	Tom West	215	441779	7004076	1485.36	065.23	-78.04
TS23-008	Tom West	428	441816	7003717	1538.00	089.53	-88.95
TS23-009	Tom South	749	442363	7003106	1747.29	351.97	-82.00
TS23-009D1	Tom South	748	442363	7003106	1747.29	351.97	-82.00
TS23-009D2	Tom South	821	442363	7003106	1747.29	351.97	-82.00
JS23-001	Jason South	631	436722	7002304	1185.00	228.15	-83.90
JS23-001D1	Jason South	665	436722	7002304	1185.00	228.15	-83.90
BX23-001	Boundary Expl.	219	421752	7010127	1114.70	035.16	-50.19
BX23-002	Boundary Expl.	144	421637	7010243	1137.50	014.78	-49.83
KB23-001	Kobuk	368	418651	7012138	1311.00	006.19	-51.12
KB23-002	Kobuk	284	418754	7011620	1225.00	006.00	-65.24

Coordinates listed in NAD83 UTM Zone 9N.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/a3d2ebc1-3604-4ad1-8174-25e087dbe69b

https://www.globenewswire.com/NewsRoom/AttachmentNg/d4d15648-8bb7-4703-af47-0500ac5f4fd0

https://www.globenewswire.com/NewsRoom/AttachmentNg/1f6c8a0e-76e2-40cb-90eb-d664513a0e4f

https://www.globenewswire.com/NewsRoom/AttachmentNg/9dc31ce1-b1b8-44ac-8de5-d05f0b5b4e5f

https://www.globenewswire.com/NewsRoom/AttachmentNg/66b0c6a5-222c-4e24-976a-bfcfd3630421

https://www.globenewswire.com/NewsRoom/AttachmentNg/56c58aa2-055c-42db-a607-e1c580c5484d

https://www.globenewswire.com/NewsRoom/AttachmentNg/b2f6a2b8-4874-482f-860e-b8d4291f0a50

https://www.globenewswire.com/NewsRoom/AttachmentNg/cce53c5b-a46b-4930-9881-69f26e4f7783

https://www.globenewswire.com/NewsRoom/AttachmentNg/e1d0f28d-dadd-483f-b7a6-66ba21fe7036

https://www.globenewswire.com/NewsRoom/AttachmentNg/46879f08-efc3-4b76-a7e4-b74745ec1086

https://www.globenewswire.com/NewsRoom/AttachmentNg/6ca0043f-8dad-4e30-8472-a15d4983bbfe

https://www.globenewswire.com/NewsRoom/AttachmentNg/71d1604b-c7fb-442a-b488-496396ac7310