Fireweed Metals : Corporate Presentation

TSX-V:FWZ

OTCQX: FWEDF

FSE: M0G

CRITICAL METALS

FOR GENERATIONS

Corporate Presentation - May 2024

CAUTIONARY STATEMENTS

PEA Cautionary Note

Readers are cautioned that the PEA is preliminary in nature; it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA results will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Additional work is needed to upgrade these mineral resources to mineral reserves.

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 Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors, including but not limited to, without limitations, exploration and development risks, 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, and one-time events. Additional risks are set out in the Company's prospectus dated May 9, 2017, and filed under the Company's profile on SEDAR+ at www.sedarplus.ca. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

NI 43-101 Qualified Persons

Dr. Jack Milton P.Geo., VP Geology, Fireweed Metals and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical information in this presentation. Leon McGarry, P.Geo., Senior Resource Geologist for CSA Global Canada Geosciences Ltd. is independent of Fireweed Metals. and a 'Qualified Person' as defined under Canadian NI 43-101. Mr. McGarry is responsible for the Mineral Resource Estimate for the Macpass Project and directly related information in this presentation - see "NI 43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory, Canada" February 23, 2018. Michael Makarenko, P.Eng., Project Manager for JDS Energy and Mining, Inc., is independent of Fireweed Metals. and a 'Qualified Person' as defined under Canadian NI 43-101. Mr. Makarenko is responsible for the PEA results for the Macpass Project and directly related information in this presentation - see Fireweed Technical Report titled "NI 43-101 Technical Report Macmillan Pass Project Yukon Territory Canada" July 9, 2018. Garth Kirkham, P.Geo., of Kirkham Geosystems Ltd. is independent of Fireweed Metals and a 'Qualified Person' as defined under Canadian NI 43-

101. Mr. Kirkham is responsible for the Mineral Resource Estimate for the Mactung Project and directly related information in this presentation - see technical report entitled "NI 43-101 Technical Report, Mactung Project, Yukon Territory, Canada," with effective date July 28, 2023. Fireweed Technical Reports can be found at https://www.sedarplus.ca/.

Notes

• 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.

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Why Critical Metals?

Why Fireweed?

Coming Bull Market	Massive Global Stimulus
Chronic underinvestment and	Fiscal stimulus will focus on
protracted bear market has	infrastructure, bullish for zinc
left cupboard bare

We're leveraging our local and regional knowledge to create a new world-class critical metals district in Yukon, Canada

Best-in-Class Projects

Macpass and Mactung have grade, scale, economics and upside potential

Strong Backers, Cashed Up

Teck, Lundins, others have invested, projects getting recognition they deserve

Critical Metals Essential

Geopolitical conflict and resource nationalism are fueling Western critical metals focus

Catalysts Coming

Resource update and economic studies, all due in next few months

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CRITICAL METALS FOR GENERATIONS

MP

GP

Tungsten is an extremely versatile metal, essential for industrial applications in the following sectors :

▪	Automotive parts	▪ Boring and cutting equipment
▪	Aerospace & Defense	▪	Logging and mining
▪	Industrial machinery	▪	Electrical and electronics
▪	Drilling		appliances

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
▪	Energy Storage	▪	Electronics

MTW

Tungsten

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PROJECT HIGHLIGHTS

MPMT

GP

MACPASS PROJECT

• One of the world's largest high-grade undeveloped zinc projects*
• Newly discovered Boundary zone delivering best-in-class drill results
• Resource update including Boundary inaugural resource due in Q2 2024

MACTUNG PROJECT

• World's largest high-grade tungsten deposit*
• Environmental Assessment complete, clear path to production
• Ongoing project optimizations, explore government support for critical metals projects
• PEA due Q2 2024

GAYNA PROJECT

• Exceptional exploration potential for zinc, germanium, gallium, lead, and silver
• Transformational new deposit model supported by geophysics ready for drill testing
• Acquired via low-cost staking, high potential for new discoveries

* - see Notes, Cautionary Statement,

* - see Notes, Cautionary Statement

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CAPITAL STRUCTURE

As of April 30, 2024

Lundin Trust

19.3%

Other	Larry
47.5%	Childress
	12.8%
	Teck
	Resources
	8.1%

		Ibaera Capital
Board & Management	6.6%
5.6%

Shares Outstanding	148,382,269
Shares Issuable Under	11,900,800
Stock Option Plan
Performance Shares	3,700,000
Agents Warrants	44,785
Investor Warrants	0
Fully Diluted	164,027,854

TSX-V: FWZ | FireweedMetals.com	6

LEADERSHIP

John Robins

Chairman

• Great Bear Royalties - Founder & Chairman, $200M exit
• Great Bear Resources - $1.8B exit
• Kaminak Gold - Founder & Executive Chairman, $520M exit
• Discovery Group - Principal, Winner of AMEBC's Murray
  Pezim Award in 2018 and 2022, and H.H. "Spud" Huestis Award in 2008

Peter Hemstead

Director and Interim President & CEO

• Bluestone Resources Ltd. - CEO
• Capstone Mining Corp. - Senior Executive
• Huron University - B.A. Economics, Finance
• CPA - 25 years

MANAGEMENT

Pamela O'Hara	Cindy Chiang	Jack Milton	Alex Campbell	Moira Cruickshanks	Kelly Bateman	Penny Johnson
VP Sustainability	CFO	VP Geology	VP Corp. Development	VP Technical Services	VP Studies	Corporate Secretary

BOARD OF DIRECTORS

Adrian Rothwell	Marcus Chalk	Peter Hemstead	Jill Donaldson	Patrick Downey	Paul Harbidge	Adam Lundin
ACCREDITEX	Gencap Mining -	Bluestone Resources -	IWJ Law - Principal	Orezone Gold - CEO	Faraday Copper -	Strategic Advisor
Technologies Inc. - CFO	Principal	CEO			President, CEO & Director

PROJECT LOCATIONS & EXISTING INFRASTRUCTURE

Macpass (Zn-Pb-Ag)

& Mactung (W) Projects

>950 km2 land package

Projects are accessible via road and existing airstrip at site

Gayna (Zn-Pb-Ag)

Project

New zinc exploration project with intriguing potential and significant mineralization

Railhead

Deep-sea port with access to Asia

Trail Smelter

PROGRESS & CATALYSTS

COMPLETED 2023

• +$50M raised
• Acquisition of Mactung finalized
• Updated resource for Mactung
• Largest drill campaign at Macpass with >22,500 m
• Expanded Boundary Zone
• Expanded camp and facilities, increasing operational capacity and operating window
• Gayna ground and geophysical validation and drill target generation

UPCOMING 2024

• Updated Macpass Mineral Resource Estimate
• Mactung PEA
• 2024 program in the planning stage for Macpass, Mactung and Gayna, which may include:

1. Step-outsat Tom, Jason and Boundary Zone

1. Generative work across the Macpass property

1. Potential drill program at Gayna

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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.

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TSX-V: FWZ | FireweedMetals.com