Fireweed Metals (TSXV: FWZ; US-OTCQX: FWEDF) assembled a team of globally recognized engineering and technical consultants with extensive project delivery and licensing experience in the Yukon and northern Canada to complete an updated feasibility study (FS) for its Mactung tungsten project in the Yukon.
"Following our successful 2025 field season, we are engaging best in class consultants to complete an updated feasibility study. We are excited to continue advancing Mactung, the world's premier tungsten deposit, unmatched in grade and scale1. We are confident that with the consultants we've engaged, a technically robust FS will be completed early in 2027, to be utilized in further engineering and mine licensing efforts," Ian Gibbs, Fireweed president and CEO, stated.
The FS will incorporate extensive historical technical and field work, including the most recent 2025 field program, and will integrate updated geological, metallurgical, mining, processing, infrastructure, and environmental designs.
The Company has selected the following consultants to lead and support the FS.
Wood Canada will serve as the Lead Study consultant and will oversee overall study integration, infrastructure engineering, capital and operating cost estimation, and execution planning. Wood delivers mining and infrastructure projects in remote northern climates, bringing strong expertise in cold-weather construction, engineering, and logistics.
SLR Consulting (Canada) will spearhead the mineral resource estimate update and refine the geological domains, integrating over 11,000 metres of 2025 drilling and approximately 40,000 metres of historical data into the new model. Working alongside Fireweed's geology team, SLR contributes significant mineral resource modelling and production expertise to deliver the updated estimate.
Ausenco Engineering Canada ULC will direct the process plant design, metallurgical testwork program, and flowsheet development and optimization. The team contributes extensive global expertise in tungsten processing, a key focus for Fireweed, ensuring the development of a technically robust and reliable flowsheet.
Worley Canada Services will oversee mine design, optimization, planning, and cost estimation. Having participated in previous studies at Mactung, the team contributes deep project familiarity, full study lifecycle experience, and proven mining expertise in northern Canada.
Knight Piésold will direct geotechnical design of waste and water management structures and provide geomechanical design support for the underground mine. Knight Piésold will apply extensive northern experience to advance designs in alignment with Yukon regulatory requirements through operations and closure.
Lorax Environmental Services will spearhead development of the site‑wide water balance, feasibility‑level groundwater model, and water quality model, supported by their broader hydrogeology, geochemistry, and mine water management mandate. With strong expertise in groundwater characterization, geochemical source terms, and integrated water modelling, Lorax will provide key inputs across the project lifecycle.
Parallel to consultant mobilization, the company has already launched several key work programs. The company has initiated a block model update that includes incorporation of recent drilling results and updated geological interpretations. The company has commenced mine planning and design work that prioritizes early extraction of high margin mill feed for processing. Fireweed has begun a metallurgical testwork and geometallurgical program designed to support process selection, recovery, and variability modelling. The company has also started execution planning activities.
The U.S. Department of War supports the FS through an award made via Title III of the U.S. Defense Production Act of 1950 and announced December 2024. Mactung completed its environmental assessment in 2014, and the FS will support mine license applications the company expects to submit in 2027.
More information is posted at www.FireweedMetals.com
March 10, 2026
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