VANCOUVER, BC / ACCESSWIRE / April 1, 2019 / FIORE GOLD LTD. (TSXV: F) (OTCQB: FIOGF) ("Fiore" or the
"Company") is pleased to provide an update on the installation of the primary crushing circuit at its 100% owned Pan Mine in
Nevada. As of March 28, 2019, most of the mechanical components have been delivered to site including the crusher, conveyors and
radial stacker, and assembly of the various components was underway. Primary earthworks for the crusher pad and stockpile areas are
largely complete. Electrical distribution and control components are expected on site by the end of April, with the power line
connection completed by mid-May. The crusher is currently on schedule to be in operation by the end of Q2 of this year. Photos of
the crusher installation can be viewed here.
Tim Warman, Fiore's CEO commented, "We're really pleased to see the primary crushing circuit coming together at site, with the
project moving forward safely, on schedule and on budget. Once the circuit is in operation, we expect to see higher gold production
through increased gold recoveries as well as improved mining efficiency as we mine to stockpiles rather than having to blend rock
and clay ore directly on the leach pad."
Pan is currently a Run of Mine ("ROM") operation where blasted ore is hauled from the pit and placed directly on the leach pad.
Blending rocky ore with more clay-rich ore ensures adequate permeability and stability of the leach pad. Metallurgical testing has
shown that primary crushing will increase both the overall gold recovery and the rate of gold recovery. At the present ore mining
rate of 14,000 tons per day, the crushing circuit will produce an estimated 6,000-7,000 additional gold ounces per year.
Once the primary crushing circuit is installed and operating, rocky and clay-rich ore will be stockpiled near the crusher and
fed to the primary crusher dump hopper at the currently required blend ratio. The ore will be fed and separated by a grizzly feeder
with +4" material going through the primary jaw crusher and the undersize bypassing primary crushing. After the crushed ore is
combined with the minus 4" bypassed ore, cement will be added for pH control and agglomeration. Barren solution will be utilized
for agglomeration water and dust suppression at each conveyor transfer point. The crushed and blended ore will be stockpiled using
a radial stacker. A loader and trucks will move material from the crushed stockpile to the cells before applying leach
solution.
Technical Disclosure
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.
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:
- 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 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 that the Company will complete installation of a primary crushing circuit, estimates and expectation that
the crushing circuit will produce additional gold ounces and increase gold recoveries, the crusher system will be in operation by
calendar Q2 of this year, the crushing circuit will improve the efficiency and productivity of mining operations, expectations
regarding the budget and cost associated with the primary crushing circuit, expectations regarding the Pan Mine's future
performance, expectations for production at the Pan Mine, 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. The installation and operation of the crusher system is subject to the availability of the equipment
and performance of suppliers. 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, metallurgical test results and estimation of
future recoveries; 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 require by
law. Accordingly, readers should not place undue reliance on forward-looking statements and information.
SOURCE: Fiore Gold Ltd.