Core Drilling At The Gold Rock Project

VANCOUVER - Fiore Gold Ltd. reported additional results from recent core drilling at its Gold Rock project in Nevada. The core drilling program is designed to supplement the larger reverse circulation program, giving a more detailed look at the subsurface geology and structure while providing more complete and representative samples for assaying and other test work.

Highlights from the nine HQ core holes reported here include: 24.4 m of 2.85 g/t gold in hole GC20-005 from the planned South Pit area; 15.5 m of 0.62 g/t gold in hole GC20-009 from the planned North Pit area; and 40.3 m of 0.70 g/t gold in hole GC20-019 from the planned North Pit area.

Tim Warman, CEO, said, "It's encouraging to see continued higher-grade intercepts from Gold Rock, along with a number of intercepts that extend well outside the current PEA pit limits. With the assay lab now caught up with the sample backlog we've resumed and expanded the original 60,000 m drilling program. Assuming drill rig availability, we expect to have a consistent stream of assay results over the summer. Once the program is completed, we'll update the geology and resource models and look to provide an updated resource estimate ahead of the Feasibility Study (FS) scheduled for Q1 of next year."

Hole GC20-019 was drilled towards the southern end of the proposed North Pit and encountered strong mineralization (40.3 m of 0.70 g/t gold) along the eastern side of the EZ anticline apex. Mineralization in hole GC20-019 spanned the upper and lower units of the Jonna Formation, including an upper altered limestone and the lower jasperoid. The extent of the mineralized Joanna indicates a thicker section of Joanna than our current geologic model. Mineralization in the upper unit occurs within the current resource pit, but the lower intercepts in Joanna jasperoid extends mineralization below the resource pit limits. Hole GC20-009 was drilled approximately 225 m south of hole GC20-019 and encountered significant mineralization (15.5 m of 0.62 g/t gold) on the eastern side of the EZ anticline within the targeted Joana jasperoid. This intercept in GC20-009 is of particular interest because it falls over 30 m below the current pit outline.

Hole GC20-005 (cross-section, Figure 3) was drilled within the outline of the proposed South Pit and intercepted 24.4 m of 2.85 g/t gold, an exceptionally high-grade result for this part of the deposit. The mineralization started within the pit limit but extended below the pit outline. This hole also reveals minor modifications needed in the geologic model.

Hole GC20-004, drilled at the north end of the deposit, was designed to intersect the apex and eastern limb of the EZ anticline but did not ‘droop' as designed and instead remained in the Chainman Shale apparently just above the targeted Joana.

Drilling at Gold Rock was paused in January of this year to allow the backlog of samples to work their way through the assay lab. All RC assays along with assays for 11 HQ core holes are now in hand. Results for the remaining nine HQ core holes as well as fifteen large-diameter PQ metallurgical core holes are still pending and will be released as they are received. PQ core drilling has now resumed at Gold Rock, with RC drilling planned as soon as drill rigs are available, initially targeting the northern end of the currently known resource where previous holes intercepted higher grade mineralization.