Drilling And Expansion Of Oxide Mineralization At Gold Rock Project Continue

VANCOUVER - Fiore Gold Ltd. reported results from the current drilling program at its Gold Rock project in Nevada. These latest results continue to demonstrate thick intervals of oxide gold mineralization both within and outside of the current resource pit shells. The company views this as encouraging in our efforts to upgrade Inferred resources and expand the overall resource envelope as part of the ongoing Feasibility Study (FS) at Gold Rock.

In the southern part of the deposit one of the best Gold Rock intercepts to date in hole GR20-009, which intercepted 48.8 meters of 2.17 g/t gold just below the base of the current southern pit shell from the 2020 Preliminary Economic Assessment (PEA). Two other very strong intercepts, 32.0 meters of 1.41 g/t gold in hole GR20-049 and 38.1 meters of 1.11 g/t gold in hole GR20-068 were also located in the southern part of the deposit.

Tim Warman, CEO said, "These holes represent the first of the RC holes from the 2020 drilling program at Gold Rock, with the results continuing to show strong, consistent mineralization and excellent opportunities to expand the current resource envelope going into the Feasibility Study. Work on the FS is progressing well with the large diameter metallurgical core holes completed and in the process of being logged before being delivered to the metallurgical lab for further testing. The first round of HQ core holes has also been completed, including detailed geotechnical logging, with geological logging and sampling underway. Several exploration holes have also been drilled at the Jasperoid Creek target approximately 1.05 miles (1.7 km) north of the former Easy Junior pit (Figure 1).

We have been seeing longer than normal wait times for assays as the labs deal with COVID-19 protocols, so we plan to take a short break from drilling at Gold Rock to allow the assay lab to catch up, with several of the drills moving over to the Pan Mine in the interim. Drilling completed to date as part of the current program at Gold Rock includes approximately 105 RC holes, 20 HQ core holes, and 15 PQ metallurgical core holes. With all this activity it's going to be a busy and exciting year ahead for Fiore and we're looking forward to progressing the Gold Rock FS and providing the first detailed view of our next mine."

Complete results for the sixty-two holes referenced in this press release are shown in the table below. Note that holes GR20-017, -032, -041, -043 and -057 were drilled as pre-collars for HQ and metallurgical PQ core holes, and the assay results for the HQ and PQ core portions of these holes are still pending.