Fiore Gold’s Pan Mine Acheives One Million Hours Worked Without a Lost Time Injury

VANCOUVER, February 10, 2021 - Fiore Gold Ltd. (TSXV:F)(OTCQB:FIOGF)(FSE:2FO) ("Fiore" or the "Company") is pleased to announce that the Pan Mine has achieved one million hours worked without a lost time injury. Our safety and environmental performance is a reflection of our team's commitment to responsibly and positively impacting the communities where we operate. Our employees' continued efforts have allowed us to extend our mine life at Pan, while operating in a safe and sustainable manner. We look forward to continuing to invest in Nevada and anticipate investing approximately $20.0 million in capital expenditures to advance our Gold Rock project and expand operations at Pan this fiscal year. This investment reflects our confidence in our Nevada team and the support of the local community.

Andy Britton, Pan Mine's General Manager, commented, "I am extremely proud of the workforce at the Pan Mine! The achievement of one million hours worked without a lost time injury has not been without its challenges, making it that much more of an amazing accomplishment. We have overcome the hurdles of restarting the mine, establishing a new company, and, of late, managing through a pandemic. This should speak volumes for how amazing the employees are that work at Pan. Together, we have accomplished not only a safe mine but an environmentally sound mine as well. We have proven that a mine can be permitted and operated in compliance with modern safety and environmental regulations. To complement these achievements, many of the miners working at the Pan Mine are actively involved in the community in various capacities. From coaching youth sports and helping with school fundraising to volunteering at community food banks and a wide variety of other programs. We are an active member within our community and will continue to be so for years to come."

Ross MacLean, Fiore Gold's Chief Operating Officer added, "I am incredibly proud of our Pan operation for reaching one million hours worked without a lost time injury. Our employees accomplished this despite the additional challenges of the COVID pandemic which reflects the focused dedication by each and every employee and contractor at Pan to reach this milestone. Our company clearly demonstrates how a proactively safe operation also contributes to the Company's productivity and profitability."

Corporate Strategy

Our corporate strategy is to grow Fiore Gold into a 150,000 ounce per year gold producer. To achieve this, we intend to:

• grow gold production at the Pan Mine while also growing the reserve and resource base;
• advance exploration and development of the nearby Gold Rock project; and
• acquire additional production or near-production assets to complement our existing operations.

On behalf of Fiore Gold Ltd.

"Tim Warman"
Chief Executive Officer

Contact Us:

info@fioregold.com
1 (416) 639-1426 Ext. 1
www.fioregold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements

This news release contains "forward-looking statements" and "forward looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to future operations at the Pan Mine, effectiveness of protocols in response to the COVID-19 pandemic, capital expenditures for the fiscal year, the Pan mine life, the Company's future productivity and profitability, advancing exploration and development at Gold Rock, corporate strategy, goal to become a 150,000 ounce producer, goal to acquire additional production or near production assets, and other statements, estimates or expectations. Often, but not always, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "targets", "forecasts", "intends", "anticipates", "scheduled", "estimates", "aims", "will", "believes", "projects" and similar expressions (including negative variations) which by their nature refer to future events. By their very nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fiore Gold's control. These statements should not be read as guarantees of future performance or results. Forward looking statements are based on the opinions and estimates of management at the date the statements are made, as well as a number of assumptions made by, and information currently available to, the Company concerning, among other things, anticipated geological formations, potential mineralization, future plans for exploration and/or development, potential future production, ability to obtain permits for future operations, drilling exposure, and exploration budgets and timing of expenditures, all of which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Fiore Gold to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to vary materially from results anticipated by such forward looking statements include, but not limited to, risks related to the Pan Mine performance; risks related to the COVID-19 pandemic, including government restrictions impacting our operations, risks the pandemic poses to our work-force, impacts the virus may have on ability to obtain services and materials from our suppliers and contractors; risks related to the company's limited operating history; risks related to general economic conditions, actual results of current or future exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates; increases in market prices of mining consumables; possible variations in ore reserves, grade or recovery rates; uncertainties involved in the interpretation of drilling results, test results and the estimation of gold resources and reserves; failure of plant, equipment or processes to operate as anticipated; the possibility that capital and operating costs may be higher than currently estimated; the possibility of cost overruns or unanticipated expenses in the work programs; availability of financing; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities; the possibility that required permits may not be obtained, renewed or amended in a timely manner or at all; changes in national and local government regulation of mining operations, tax rules and regulations, and other factors identified in Fiore Gold's filings with Canadian securities authorities under its profile at www.sedar.com respecting the risks affecting Fiore and its business. Although Fiore has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. Fiore disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information.

SOURCE: Fiore Gold Ltd.