Mr. Tim Warman reports

FIORE GOLD PROVIDES BASELINE MINERAL RESOURCE ESTIMATE FOR ITS GOLD ROCK PROJECT IN NEVADA

Fiore Gold Ltd. has released an updated mineral resource estimate for its 100-per-cent-owned Gold Rock project in Nevada. The mineral resource is centred around the former Easy Junior open-pit mine and covers approximately 3.1 kilometres of a 12.9 km long trend of prospective geology, structure and alteration with pervasive gold and pathfinder element anomalies in soil and rock samples.

The new Gold Rock resource estimate is based solely on the available historical data and is intended to provide a baseline from which to grow the resource through continued drilling. The historical drill hole database was reviewed and audited by the qualified person (QP) and is deemed to be suitable for resource estimation. Drilling is currently under way to test three new targets to the north of the resource area with the aim of expanding the overall footprint of mineralization.

Relative to the previous 2012 historical resource estimate, the new resource estimate shows higher grades and a more tightly defined zone of mineralization hosted primarily within the tightly folded and faulted Joanna limestone with minor mineralization within the overlying Chainman shale and the underlying Pilot shale.

Results at a range of cut-off grades are as shown in the attached table.

Resource category         Tonnes    Gold grade (g/t)  Gold grade (oz/st) Contained gold (oz)
Cut-off grade (g/t)

Indicated
0.1                    9,586,000               0.78               0.023             241,700
0.2                    9,006,900               0.82               0.024             238,700
0.3                    7,954,500               0.90               0.026             230,300
0.4                    7,098,700               0.97               0.028             220,700
0.5                    6,432,000               1.02               0.030             211,000
Inferred
0.1                    8,455,100               0.68               0.020             184,300
0.2                    7,787,500               0.72               0.021             180,900
0.3                    6,747,400               0.80               0.023             172,600
0.4                    5,830,500               0.87               0.025             162,200
0.5                    4.952,700               0.94               0.027             149,500

• Mineral resource statement prepared by APEX Geoscience Ltd. in accordance with National Instrument 43-101 with an effective date of July 1, 2018.
• Mineral resources are not mineral reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the inferred resources tabulated in the attached table as an indicated or measured mineral resource, however, it is reasonably expected that the majority of the inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future. The estimate of mineral resources may be materially affected by environmental, permitting, legal, marketing or other relevant issues. The mineral resources have been classified according to the Canadian Institute of Mining Definition Standards for mineral resources and mineral reserves (May, 2014).
• All figures have been rounded to reflect the relative accuracy of the estimates. Gold grades are shown both in grams per tonne (g/t) and troy ounces per short ton (oz/st).
• The mineral resources are reported at a cut-off grade of 0.2 gram per tonne gold, based on a gold price of $1,350 (U.S.) per ounce. The resource estimate is relatively insensitive to gold price -- using a $1,250 (U.S.) per ounce figure at a 0.2 g/t cut-off reduces the in-pit mineral resource by 3,600 ounces in the indicated category and 10,800 ounces in the inferred category.

Tim Warman, chief executive officer of Fiore, commented: "We're very pleased with the new resource update, and particularly with the grades, which are excellent for an open-pit, oxide resource and significantly higher than at our adjacent Pan mine. Our geological team has built a much more tightly constrained geological and mineralization model that has resulted in less grade smearing and significantly higher average grades than were reported in previous resource estimates. The next steps will be to continue drilling along the approximately 13-kilometre-long trend, where multiple drill targets have been defined by gold and pathfinder element anomalies and the presence of promising lithological, structural and alteration features. Drilling has recently commenced on three new targets to the north of the current resource area, and we're confident that the Gold Rock deposit will continue to grow as exploration continues along this promising trend."

The Gold Rock deposit is a Carlin-style, sedimentary rock-hosted, disseminated gold deposit within Mississippian limestone and siltstone units, namely the Joana formation limestone and the overlying Chainman formation shale, located along an eastern spur of the Pancake Range. The primary host is the Joana limestone, but significant mineralization is also hosted in the overlying Chainman shale with minor mineralization in the Pilot shale. The currently identified resource occupies an N12E to N15E trend that extends from 300 metres north of the Easy Junior pit to the lower reaches of Meridian Ridge to the south, a strike length of over 3.1 kilometres. Altered bedrock and surface gold anomalies extend well beyond the mineralization envelope defined by drilling to the north and the south, extending nearly the entire 12.9-kilometre length of the property.

Mineral resource estimate

The updated mineral resources for Gold Rock are reported at a 0.2 g/t Au cut-off with an effective date of July 1, 2018. The resource estimate is based solely on previous drilling, which includes approximately 94,919 m of reverse circulation and 3,840 m of diamond core drilling completed between 1980 and 2013. The historical drill hole database was reviewed and audited by the qualified person and is deemed to be suitable for resource estimation.

A total of 785 drill holes are contained within the Gold Rock database, with a total of 486 drill holes in the area of the Gold Rock deposit that were used to guide the interpretation of geology and gold mineralization and construct the mineral resource estimate. This total comprises 17 diamond core holes completed by Midway in 2011 and 2012, a total of 61 reverse circulation drill holes completed by Midway in 2011 to 2013, and finally 408 historical RC drill holes that were completed from 1984 to 1994. Spacing between drill holes over the main Easy Junior open-pit area varies from 6.5 to 98 feet (two m to 30 m) but averages 100 feet (30 m) between sections and 50 feet (15 m) along sections. Away from the main open-pit area, the drill hole spacing increases to 260 to 395 ft (80 to 120 m) spacing. Drilling has been completed on roughly east-west sections. All of the drill holes were used to guide the mineralization model that was ultimately used in the resource estimation calculation.

The resource has been estimated within three-dimensional solids that were created from cross-sectional lode interpretation. The upper contact has been cut by the topographic/historical open-pit surface. Grade was estimated into a block model with a parent block size of eight m (X) by 16 m (Y) by six m (Z) and subblocked down to four m (X) by eight m (Y) by three m (Z). A total of 197 bulk density samples were available for review. The 197 bulk density samples were examined by their position within the mineralized zones and their stratigraphic position. Depending on the number of measurements available by lode or formation, this average density was applied to all blocks within that lode. The average density for the lodes ranges from 2.386 grams per cubic centimetre (g/cm3) to 2.514 g/cm3 with an overall average for the mineral resource of 2.49 g/cm3. Grade estimation of gold was performed using the inverse distance squared (ID2) methodology. The indicated and inferred mineral resources are constrained within a drilled area that extends approximately 1.96 miles (3.15 km) along strike to the north-northeast, 0.16 mile (0.26 km) across strike to the east and 820 ft (250 m) below surface.

The updated Gold Rock indicated and inferred mineral resource comprises an indicated mineral resource of 9.01 million tonnes at 0.82 g/t (0.024 oz/st) Au for 238,700 ounces of gold and an inferred mineral resource of 7.79 million tonnes at 0.72 (0.021 oz/st) g/t Au for 180,900 ounces of gold, using a lower cut-off grade of 0.2 g/t (0.006 oz/st) Au. The updated Gold Rock mineral resource estimate is reported at a range of gold cut-off grades in the attached table for both indicated and inferred categories. Other cut-off grades are presented for review ranging from 0.1 g/t (0.003 oz/st) Au to 0.5 g/t (0.015 oz/st) Au for sensitivity analyses. Resource blocks flagged as reduced were removed from the overall resource.

The Gold Rock project

Fiore holds the Gold Rock project through its wholly owned subsidiary, GRP Gold Rock LLC. The Gold Rock project consists of a large 20,300-hectare contiguous land package on the Battle Mountain-Eureka Trend, anchored by the historic Easy Junior mine, which reportedly produced approximately 2.6 million tonnes at a grade of 0.89 gram per tonne for 74,945 gold ounces in the early 1990s.

The mineralization at Gold Rock is hosted by the folded and faulted Joanna limestone formation, where the historical resource covers only approximately 3.1 km of a 12.9 km long belt. This belt contains the same folded and faulted Joanna formation, displaying strong Carlin-style alteration (silica flooding, jasperoids and argillization) and coincident gold and pathfinder element anomalies throughout its strike length. This area is considered highly prospective for additional discoveries. At least nine distinct drill-ready targets defined by Carlin-type structure, geochemistry and alteration have been located by surface sampling and mapping.

Future work on the Gold Rock project will include:

• New drilling aimed at expanding the resource base, as well as infill drilling to confirm the geological controls and collect samples for density and metallurgical testing;
• Initiation of metallurgical and engineering studies to support a preliminary economic assessment.

Fiore's reserve and resource inventory

With the newly updated Gold Rock mineral resource estimate, Fiore's reserve and resource inventory is shown in the attached table.

                                     MINERAL RESERVES
  
Project                       Tonnes  Gold grade (g/t) Gold grade (oz/st)  Contained gold (oz)

Pan -- proven              6,740,000             0.62              0.018              137,000
Pan -- probable           12,264,000             0.45              0.013              182,000
Total proven + probable   19,004,000             0.51              0.015              318,000
           

* Reserves at Pan are as at March 16, 2017, and have not been adjusted for mining depletion.
* Numbers in the table have been rounded to reflect the accuracy of the estimate and may not 
sum due to rounding.
  
   
                                      MINERAL RESOURCES
  
Project                           Tonnes   Gold grade (g/t)  Gold grade (oz/st)  Contained gold (oz)
Measured & indicated
Pan -- measured                8,184,000              0.62               0.018              159,000
Pan -- indicated              19,091,000              0.45               0.013              275,000
Gold Rock -- indicated         9,006,900              0.82               0.024              238,700
Total measured + indicated    36,281,900              0.58               0.017              672,700
Inferred
Pan                            5,144,000              0.45               0.013               72,000
Gold Rock                      7,787,500              0.72               0.021              180,900
Total inferred                12,931,500              0.61               0.018              252,900
  
* Resources at Pan as at Feb. 10, 2017, are inclusive of Pan mineral reserves, and have not been 
adjusted for mining depletion.
* Numbers in the table have been rounded to reflect the accuracy of the estimate and may not sum due
to rounding.
* Mineral resources are not mineral reserves. Mineral resources which are not mineral reserves do 
not have demonstrated economic viability.

In addition, Fiore Gold's 100-per-cent-owned Golden Eagle project in Washington State hosts a historical resource estimate as shown in the attached table.

Project                                           Mass (Mt)  Gold grade (g/t) Gold grade (oz/st)   Contained gold (oz)

Golden Eagle -- indicated historical resource   28,500,000              1.89              0.055             1,744,000
Golden Eagle -- inferred historical resource     4,600,000              1.30              0.038               192,000

* Fiore reports these historical resources for illustrative purposes only. Although the estimates are believed to be 
reliable and relevant, a qualified person has not done sufficient work to classify the historical estimates as current
mineral resources or mineral reserves, and the company is not treating the historical estimates as current mineral 
resources or mineral reserves. The company has not yet determined what additional work would be required to upgrade 
the historical mineral resource estimate to a current mineral resource estimate.

Qualified persons and technical reports

A technical report, which will include the new Gold Rock resource estimate, will be posted on the company's website and filed on SEDAR within 45 days.

Michael B. Dufresne, MSc, PGeol, PGeo, a principal in APEX Geoscience Ltd. and a qualified person for the purpose of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects of the Canadian securities administrators has approved the disclosure of, and is the qualified person responsible for, the scientific and technical information regarding the Gold Rock project in this news release inclusive of the resource estimate information. He has verified the data disclosed.

Other scientific and technical information referred herein has been extracted from and is hereby qualified by reference to the technical reports for our other projects. The technical reports referenced herein are as follows: (1) the report titled "NI 43-101 Updated Technical Report, Pan Gold Project, White Pine County, Nevada," with an effective date of June 30, 2017, which was prepared by J. B. Pennington, MSc, CPG, Kent Hartley, PE, Justin Smith, PE, RM-SME, Deepak Malhotra, RM-SME, Valerie Sawyer, RM-SME, and Brooke J. Miller, MSc, CPG; and (2) the report titled "Midway Gold Corp.: Golden Eagle Project, Washington State, USA, Technical Report," with an effective date of Aug. 4, 2009, which was prepared by Eric Chapman, BSc (geology), MSc (mining geology), CGeol, consultant, Snowden Mining Industry Consultants, and Dr. Thom Seal, PhD, PE, principal and chief metallurgist, Differential Engineering Inc. Each of the persons named as having prepared the technical reports listed above is a qualified person under National Instrument 43-101.

Corporate strategy

Fiore's corporate strategy is to grow Fiore Gold into a 150,000-ounce-per-year gold producer. To achieve this, it intends to:

• Grow gold production at the Pan mine from a planned 35,000 to 40,000 ounces in fiscal 2018;
• Advance exploration and development of the nearby Gold Rock project;
• Acquire additional production or near-production assets in Nevada and surrounding states.

We seek Safe Harbor.