09:08 AM EDT, 08/27/2025 (MT Newswires) -- Fireweed Metals ( FWEDF ) said Wednesday that it signed a $12.9 million funding agreement with the Canadian government to advance planning for road and power infrastructure improvements in the North Canol corridor, the key overland access route to the company's Mactung tungsten project near the Yukon and Northwest Territories border.

The signing marks Fireweed's successful completion of Natural Resources Canada's due diligence process for the Critical Minerals Infrastructure Fund contribution announced in December 2024.

"Concluding this agreement reflects the Government of Canada's recognition that the critical minerals district at Macmillan Pass is of national importance," said Ian Gibbs, Fireweed's president and CEO.

"We look forward to working collaboratively with federal, territorial, and Indigenous governments to shape North Canol corridor upgrades in ways that respect the land and create opportunities for communities," Gibbs said.

Fireweed's share price gained 2.1% on Tuesday to $2.43 on the TSXV.