GOLD ROCK PROJECT

Gold Rock, located approximately 8 miles southeast of Pan, is Fiore’s key growth project providing the potential for the company to produce in excess of 100,000 ounces annually in Nevada

Gold Rock is federally permitted, has 30% higher grade than Pan and having recently completed a positive PEA is now progressing to Feasibility Study expected mid-2021. Expected gold ounce production at Gold Rock, in combination with Pan, would organically bring Fiore’s production in Nevada over 100,000 ounces.

The PEA provides an updated mineral resource estimate and a base case assessment of developing the Project as a satellite open pit operation that will share significant infrastructure and management with the adjacent Pan Mine. The PEA also identifies a considerable number of opportunities to enhance the project economics as Gold Rock advances to the Feasibility stage by drilling to increase the mineral resource, further metallurgical testing aimed at improving recoveries, and geotechnical drilling aimed at reducing the stripping ratio.

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 former Easy Junior Mine, which reportedly produced approximately 2.6 million tonnes at a grade of 0.89 grams per tonne for 74,945 gold ounces in the early 1990s. The area in and around the former Easy Junior mine hosts a recently-released mineral resource as follows:

*Mineral Resource Statement prepared by APEX Geoscience Ltd. in accordance with NI 43-101 with an effective date of March 31, 2020. 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 above 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 are reported at a cut-off grade of 0.09 g/t gold, based on a gold price of US$1,500 per ounce.

The mineralisation at Gold Rock is hosted by the folded and faulted Joanna Limestone Formation, where the historical resource covers only about 3 km of a >13 km long belt. This belt contains the same folded and faulted Joanna Formation, displaying strong Carlin-style alteration (silica flooding, jasperoids) and coincident gold and pathfinder element anomalies throughout its strike length. This area is considered highly prospective for additional discoveries. At least nine distinct targets defined by Carlin-type structure, geochemistry and alteration have been located by surface sampling and mapping, with drilling on three of the targets currently underway.

The ROD covers the proposed expansion of the existing open pit and construction of two waste rock disposal areas, a heap leaching facility with an adsorption/desorption refining plant, roads, ancillary support facilities, and additional exploration areas. The ROD also allows for inclusion of a carbon-in-leach plant and tailings storage facility if required for a future phase of the project.

Copies of the ROD for the Gold Rock Mine Project and other documents pertinent to this proposal may be examined at the BLM’s Bristlecone Field Office: 702 North Industrial Way, Ely, Nevada. The document is available for download on the Internet at: http://on.doi.gov/1zAxyW9