13 December 2024
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQX: FWEDF) is pleased to announce it has been awarded US$15.8 M (~C$22.5 M) from the U.S. Department of Defense and up to C$12.9 M from the Government of Canada in support of its critical minerals projects at Macmillan Pass, Yukon Territory.
Highlights
CEO Statement
Peter Hemstead, Interim President and CEO, commented: “The coordinated investments by the United States and Canadian governments underscore the critical importance and strategic value of Fireweed’s mineral assets at Macmillan Pass. This joint announcement is a testament to the determination of both governments to unlock this new critical minerals district in Canada. In the coming months and years, our team will work to ensure our projects and the enabling infrastructure move forward in a way that respects rights-holders, provides benefits to communities in the region, and demonstrates how critical minerals can be developed responsibly.”
Adam Lundin Statement
Adam Lundin, Fireweed’s Strategic Advisor, stated: “The emerging critical minerals district at Macmillan Pass is a profound opportunity to address key supply chain vulnerabilities of the North American industrial base. These investments are significant milestones on the path to advancing both Macpass and Mactung projects toward development.”
Statement from the Honorable Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources
The Honorable Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources, stated: “Canada is positioning itself as a global supplier of responsibly sourced critical minerals, which are increasingly in demand for the clean and digital economy as well as for defence applications. The Fireweed project will develop the necessary energy infrastructure to power multiple critical minerals mines and communities with clean energy. These investments by Canada and the United States build on our long history of friendship and collaboration, complement the region’s deep expertise in mining, create good jobs in the Yukon and advance economic growth, now and into the future.”
A Critical Minerals District at Macmillan Pass
Macmillan Pass is an emerging critical minerals district (the “Macpass District”), with two immediately-adjacent, best-in-class critical mineral projects being advanced by Fireweed. The Macpass Project (“Macpass”) is a district-scale collection of high-grade zinc deposits, forming one of the largest undeveloped zinc resources globally, while also containing the world’s largest known accumulation of germanium and gallium1,2. The Mactung Project (“Mactung”) is the world’s largest, high-grade tungsten deposit1,3, with sufficient mineral resources to potentially supply North America’s expected tungsten demand for decades.
Macmillan Pass and the North Canol Road (the district’s primary overland access) are located within Kaska Nation Traditional Territory and the Traditional Territory of the First Nation of Na-Cho Ny?k Dun. The Mactung access road passes through the Sahtú Settlement Area (Tul??t?a District in the Northwest Territories), which include both First Nations and Métis communities.