TOM DEPOSIT OVERVIEW

Zinc- lead- silver- barite mineralization at the Tom deposit varies from well layered to a brecciated stockwork zone adjacent to the Tom fault. The Tom West and Tom East Zones, both of which are exposed at surface, are interpreted to have formed one continuous lens prior to folding of the Tom Sequence. The Southeast Zone is interpreted to have formed in a separate sub-basin to the main structure hosting the Tom West and Tom East Zones. All three zones have been affected by folding.

The Tom West Zone dips 60 degrees to the southwest, has a strike extent of approximately one kilometer and extends up to 400 m down dip. It is about 40 m thick at its widest and breaks into two discrete layers in the centre. The highest grade portion of the Tom West Zone occurs along the southern portion of the zone where Zinc+Lead+Silver grades exceed 10%. The Tom West Zone hosts the bulk of the historical resource at the Tom deposit.

The Tom East Zone occurs near the hinge of the anticline that has folded the originally planar deposit, and which plunges northward in this area. It consists of a series of fault bounded pods of interbedded sphalerite, galena, barite and chert.

The Tom Southeast Zone is not exposed at surface, and consists of a tabular, stratiform body 0.5m to 6m thick with a strike length of approximately 400 m and a down dip extension of at least 350 m dipping 60-70º to the east. It is located near the nose of the southeast plunging Tom anticline on its eastern limb. Mineralization consists of finely laminated sphalerite, galena, pyrite and black cherty mudstone.

The Tom North Zone provides the potential for an open-pit mine life. In 2019, Fireweed successfully hit on 7 holes with intersections of up to 22.5 m at 6.1% Zn, 1.0% Pb in short holes. Prior to 2019, the last drilling completed at Tom North was in 1978 with the majority of drilling completed in 1951 & 1952. Tom North was not included on the 2018 resource estimate.

In 2020, Fireweed focused drilling at Boundary Zone, completing a total of 2,314 m in nine drill holes. Drilling was planned to test along-strike and down-dip continuity of known mineralization as well as the orientation of structures and veins, confirming the presence of a vein stockwork with multiple vein orientations. Based on ground gravity work conducted in 2020, several holes tested a large anomaly west of Boundary Zone, resulting in the discovery of Boundary West.

GEOLOGY AND MINERALIZATION

Boundary Zone mineralization is hosted in Mid-Late Devonian mafic volcaniclastic rocks, conglomerates, diamictites and mudstones of the Earn Group. Recent Boundary West drilling demonstrated that mineralization is also hosted in Late Ordovician-Early Silurian rocks of the Road River Group.

Mineralization at Macmillan Pass occurs along the Fertile Corridor, a trend that follows the Hess fault system across the property. The fault system was initiated during the Late Proterozoic-Early Paleozoic and has been reactivated multiple times since then. Hess fault splays at Boundary Zone provided a deep crustal plumbing system and are an important control on mineralization.

Boundary Zone mineralization formed in multiple episodes and occurs as sphalerite-siderite-pyrite+/-galena in veins, stockworks, disseminations, and replacement of matrix and clasts within coarse clastic rocks. The presence of older stratiform mineralization at Boundary West overprinted by veins is further evidence of a long-lived system that resulted in several styles of mineralization.