Mr. Tim Warman reports

FIORE GOLD REPORTS SUCCESSFUL FIRST FULL YEAR OF OPERATIONS AT ITS PAN MINE

Fiore Gold Ltd. has released preliminary production results from its 100-per-cent-owned Pan mine in Nevada for the company's fourth fiscal quarter and the full fiscal year 2018 ended Sept. 30, 2018.

Highlights:

• Full-year mined ore production of 14,228 tons per day, ahead of planned rate of 14,000 tons per day, with fiscal Q4 mined ore production at 13,186 tons per day;
• Gold production of 34,297 ounces, near the lower end of the company's guidance range of 35,000 to 40,000 ounces; Q4 gold production of 8,993 ounces;
• 83,690 man-hours worked in fiscal 2018, achieving the company's goal of zero reportable incidents, zero reportable accidents and zero lost-time injuries; currently, the operation is at 865 consecutive days of attaining this triple-zero achievement;
• The company's operations team at Pan was selected to receive the Small Mine Safety Award from the Nevada Mining Association for the third consecutive year -- 2015, 2016 and 2017;
• The U.S. Bureau of Land Management (BLM) has issued the record of decision for the company's 100-per-cent-owned Gold Rock project, located approximately eight kilometres southeast of its Pan mine; this completes the federal permitting process required for the construction of a mine on the Gold Rock property; a short drilling program to test three new targets was recently completed at Gold Rock, with results expected shortly.

Tim Warman, chief executive officer of Fiore, commented: "Our Pan mine team has delivered a solid first full year of gold production while maintaining their excellent record of safety and environmental protection. While falling just short of our gold ounce production guidance, we are still extremely pleased with how the Pan mine performed during this first year since returning to steady-state production. We're working to extend the mine life, having completed approximately 29,000 feet (over 8,800 metres) of exploration drilling to date at Pan, with a resource update expected before calendar year-end. Finally, with the recent record of decision on the nearby Gold Rock project, we now have one of the few federally permitted gold projects in the U.S."

2018 production

Quarterly and full-year production numbers for the Pan mine are shown in the attached table.

                             Q1       Q2       Q3       Q4    FY 2018

Gold production (oz)      6,645    8,695    9,964    8,993     34,297 
Ore tons mined (tpd)     14,828   14,664   14,246   13,186     14,228 
Total tons mined (tpd)   29,951   29,289   35,324   31,310     31,470 

Total tons mined in Q4 decreased slightly over the previous quarter, but tons mined for the full fiscal year 2018 were just above the company's planned 14,000-tonne-per-day target. The lower gold production in Q1 2018 represents the end of the ramp-up stage following the restart of the Pan mine. The last three quarters of fiscal 2018 represent a typical steady-state gold production for the Pan mine at the planned mining rate of 14,000 tonnes per day of ore.

The drilling program aimed at increasing the resource and reserve base at Pan wrapped up earlier this year, with approximately 29,000 feet of reverse circulation drilling completed. The data are now with the company's independent geological consultants and the company expects to have results of a new resource update by the end of the calendar year. Technical work to evaluate the addition of a crushing circuit at Pan is largely complete, and discussions are currently under way on potential financing alternatives. A decision is expected by the end of calendar Q4 2018.

At Gold Rock, the BLM recently issued the record of decision, which completes the federal permitting process required for the construction of a mine on the Gold Rock property. A short exploration drilling was recently completed at Gold Rock, testing several targets to the north of the current resource area, with results expected in calendar Q4 2018.

Corporate strategy

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

• Continue to grow gold production at the Pan mine while increasing the resource and reserve base;
• Advance exploration and development of the nearby Gold Rock project;
• Acquire additional production or near-production assets in Nevada and surrounding states.

Qualified person

The scientific and technical information relating to Fiore Gold's properties contained in this press release was approved by J. Ross MacLean, Fiore Gold's chief operating officer and a qualified person under National Instrument 43-101.

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