VANCOUVER, British Columbia, Jan. 20, 2025 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the Company”) (TSXV: FWZ; OTCQX: FWEDF) is pleased to announce the appointment of Ian Gibbs as Chief Executive Officer, President, and Director, and Adam Lundin as Chair of the Board.
Ian Gibbs brings executive leadership experience from his tenure within the Lundin Group companies, where he played a key role in advancing world-class projects such as Filo del Sol, Josemaría, and Fruta del Norte. Most recently, Ian served as CFO of Filo Corp., where he helped guide the company through its transformational transaction with BHP Investments Canada Inc. (“BHP”) and Lundin Mining Corporation (“Lundin Mining”). His expertise in driving projects from exploration through development and mergers and acquisitions makes him exceptionally qualified to lead Fireweed into this new phase of growth.
As Chair of the Board, Adam Lundin brings extensive leadership experience, having been pivotal in transforming the Vicuña District into one of the world’s next major copper-producing hubs. His appointment underscores the Lundin family’s strong commitment to Fireweed and their vision of it as the next significant district-scale opportunity in their portfolio.
Jill Donaldson, Fireweed Board Member and Chair of the Governance Committee, commented:
"On behalf of the Board, I want to thank Peter Hemstead for his dedicated leadership as interim CEO. Peter has been instrumental in Fireweed’s evolution into a district-scale critical minerals company and will remain on the Board and a key part of our leadership team moving forward.
We are thrilled to welcome Ian Gibbs as CEO at such an exciting juncture. His proven track record, particularly in advancing Lundin Group projects, and his recent success with the Filo Corp. transaction with BHP and Lundin Mining highlight his ability to deliver transformational outcomes. Ian is the ideal leader to build on Fireweed’s momentum.
We also thank Paul Harbidge for his commitment as Chair and continuing contribution as a member of the Board. We are excited to welcome Adam Lundin into the role of Chair of the Board. Adam’s appointment reflects the Lundin family’s confidence in Fireweed’s vision and the immense potential of our district-scale critical mineral projects."
This leadership transition positions Fireweed to successfully navigate its next phase of growth, building on its demonstrated exploration success and the strong support from both the Canadian and US governments. With recent funding commitments for advancing the Mactung tungsten project and critical infrastructure planning serving the entire Macmillan Pass Critical Minerals District, Fireweed is well-prepared to capitalize on the opportunities ahead and solidify its position as a leader in the critical minerals space.
Appointments
Ian Gibbs, President, CEO, and Director
Ian Gibbs previously served as CFO of Filo Corp., where he helped guide the company to its recent C$4.5 billion transaction with BHP and Lundin Mining. Mr. Gibbs also served as CFO for Josemaría Resources Inc., which was purchased by Lundin Mining in 2022. Prior to his role at Josemaría, he served as CFO of Africa Oil Corp., a TSX and Nasdaq Stockholm-listed Canadian oil and gas company with assets in Nigeria, Kenya, and Ethiopia. Previously, Mr. Gibbs was CFO of Tanganyika Oil, where he played a pivotal role in the sale of the company to Sinopec International Petroleum for $2 billion. Before Tanganyika Oil, Mr. Gibbs was CFO of Valkyries Petroleum, which was the subject of a $750 million takeover. Mr. Gibbs serves on several Lundin Group boards, including Lundin Gold Inc. since its inception in 2014. Mr. Gibbs. is a Canadian Chartered Professional Accountant and a graduate of the University of Calgary, where he obtained a Bachelor of Commerce degree.
Adam Lundin, Chairman & Director
Mr. Lundin has many years of experience in capital markets and public company management across the natural resources sector. His background includes oil & gas and mining technology, investment advisory, international finance, and executive management. He began his career working for several Lundin Group mining companies in various countries before moving into finance where he was co-head of the London office for an independent full-service investment bank.
Mr. Lundin is the former President, CEO and director of Josemaría Resources Inc. He now serves as the chair of the board of directors of Lundin Mining Corporation. He also currently serves on the board of directors of Lucara Diamond Corp., NGEx Minerals Ltd., and the Lundin Foundation.
Stock Option Grant
The Company announces that it is granting, pursuant to its stock option plan, a total of 350,000 stock options to certain employees and directors, exercisable at a price of $1.42 per share for a five-year term.
About Fireweed Metals Corp.
Fireweed is an exploration company focused on unlocking value in a new critical metals district located in Northern Canada. Fireweed is 100% owner of the Macpass District, a large and highly prospective 985 km2 land package. The Macpass District includes the Macpass zinc-lead-silver project and the Mactung tungsten project. A Lundin Group company, Fireweed is strongly positioned to create meaningful value.
Fireweed trades on the TSX Venture Exchange under the trading symbol “FWZ”, on the OTCQX Best Market under the symbol “FWEDF”, and on the Frankfurt Stock Exchange under the trading symbol “M0G”.
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.
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, targets for exploration, potential extensions of mineralized zones, 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.
