• Reserves stated in the table above are contained within an engineered pit design following the US$1,250/oz Au sales price Lerchs-Grossmann pit. Date of topography is October 23, 2018;
• In the table above and subsequent text, the abbreviation "st" denotes US short tons and "t" denotes metric tonnes;
• Costs used include an ore mining cost of US$2.02/st, a waste mining cost of $1.60/st, an ore processing and G&A cost of US$3.40/st;
• Reserves for South Pan and South Satellite Pits are based upon a minimum 0.004 oz/st Au internal cut off grade ("CoG"), using a US$1,250/oz‑Au sales price, an Au Recovery of 85%, and an Au Sales cost of US$3.48/oz;
• Reserves for North Pan, Black Stallion and Syncline Pits are based upon a minimum 0.006 oz/st Au Internal CoG, using a US$1,250/oz‑Au sales price, an Au Recovery of 62%, and an Au sales cost of US$3.48/oz;
• Mineral Reserves stated above are contained within and are not additional to the Mineral Resource; and,
• 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 and do not have demonstrated economic viability. There is no certainty that any part of the Mineral Resources estimated will be converted into Mineral Reserves;
• In the table above and subsequent text, the abbreviation "st" denotes US short tons and "t" denotes metric tonnes;
• Resources stated as contained within a constrained pit shell; pit optimization was based on an assumed gold price of US$1,350/oz, North and Central area recoveries of 62% for Au and a Southern area recovery of 85% for Au, an ore mining cost of US$2.02/st, a waste mining cost of $1.60/st, an ore processing and G&A cost of US$3.34/st, and a pit slope of 50 degrees in the North and 45 degrees in the South and Central Areas;
• Resources are reported using an internal gold cut off grade of 0.005 oz/st in the North and Central Areas and 0.004 oz/st in the South Area; and,
• Numbers in the table have been rounded to reflect the accuracy of the estimate and may not sum due to rounding.

The updated Pan reserve estimate was carried out by SRK Consulting US Inc. ("SRK"), the same firm who completed the February 2017 resource and reserve estimate. The approach to modelling and estimating for the resource update was unchanged from 2017 other than the inclusion of approximately 28,730 feet (8,757 m) of reverse circulation drilling carried out in early 2018, primarily in the vicinity of the Pan North Pit, minor modifications to the geological model, and updating the mining and processing costs as noted above to reflect the past 19 months of operating experience at the Pan Mine. Assumptions on cutoff grades and pit slopes are unchanged from the February 2017 estimate, while the gold price in the new model reserve pit was increased from $1,200/oz to $1,250/oz.

A description of the key assumptions, parameters and methods used to estimate mineral reserves and resources at the Pan Mine, as well as data verification procedures and a general discussion of the extent to which the estimates of scientific and technical information may be affected by any known legal, political or other relevant factors relating to the potential development of the mineral resources or mineral reserves, are included in 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, M.Sc., C.P.G., Kent Hartley, P.E., Justin Smith, P.E., RM-SME., Deepak Malhotra, RM-SME, Valerie Sawyer, RM-SME, and Brooke J. Miller, M.Sc., C.P.G.

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 regarding extending the mine life at Pan, resource and reserve estimates, including estimated tons, grade and contained metal, future strip ratios, potential to increase the resource and reserve base with additional drilling, a drilling program in 2019 aimed at further increasing the reserve base, expectations for production at the Pan Mine, anticipated Pan mine life, advancing exploration and development of the Gold Rock project, 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 company's limited operating history; risks related to international operations; 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 on a timely manner or at all; possibility that the Gold Rock Record of Decision will be appealed and that such an appeal may be successful; changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Fiore Gold operates, and other factors identified in Fiore Gold's filing 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 required by law. Accordingly, readers should not place undue reliance on forward-looking statements and information.