Additional Drilling Results At The Filo del Sol

VANCOUVER - Filo Mining Corp. reported additional drill results from the Filo del Sol project in San Juan province, Argentina.  Highlights: Drillhole FSDH046 has returned the longest mineralized intersection on the project to date, was collared 200m to the east of FSDH032, and demonstrates strong mineralization to over 1,400m below surface; FSDH046 returned 676m at 0.92% CuEq (0.57% Cu; 0.34g/t Au; 11.3g/t Ag) from a depth of 380m within a broader interval of 1,378m at 0.71% CuEq (0.45% Cu; 0.29g/t Au; 6.1g/t Ag) from a depth of 77.7m; FSDH050, which was collared 90m to the south and 510m to the west of FSDH046, returned 200.8m at 0.60% CuEq (0.26% Cu; 0.28g/t Au; 16.2g/t Ag) from 276m. The hole ended in mineralization and was stopped due to drilling difficulties, with the final 20m averaging 0.61% CuEq (0.40% Cu; 0.28g/t Au; 1.3g/t Ag); The full intersection in FSDH046 lies completely outside of the current mineral resource, while FSDH050 is within it; and Both of these holes were collared prior to drilling the high-grade zone intersected in hole FSDH041 (see News Release dated May 13, 2021) and were not intended to follow up on that intersection.

President and CEO, Jamie Beck said, "Another outstanding result from our drilling this season at Filo del Sol.  Hole 46 is the deepest hole we have ever completed at Filo, returned well over a kilometer of mineralization, and extends the deposit at least 250 vertical meters below any of our previous holes.  Drilled 200m to the east of hole 32, it also increases the east-west dimension of the deposit, leaving it completely open to expansion in that direction.  Assay results from our remaining holes this season are expected shortly and plans for our next field campaign are well underway."

Assay results for eleven of the fifteen holes drilled this season have now been released, with the remaining four to be provided as results are received.  FSDH049 was drilled to a final depth of 515.3m, ending in mineralization, and was stopped as a result of drilling difficulties.  Holes FSDH051 (765.1m), FSDH052 (152.0m) and FSDH053 (150.0m) were still underway at the end of May when camp operations were suspended for winterization and maintenance. These holes were left prepared for future re-entry, however, timeline for deepening these will be dependent on the Company's future drilling priorities.  Drilling is expected to resume in August and is planned to continue without interruption as we transition to year-round operations.  The Company plans to complete a resource update prior to the end of the year, which will incorporate data from the deep holes drilled since 2019, as well as several more to be completed in the late summer and fall.