Filo Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) is pleased to announce assay results from six holes from the Filo del Sol Project. Highlights and detailed results are shown below along with accompanying figures:  PDF Version

• Drillhole FSDH107 intersected 1,270.0m at 0.92% CuEq from 298.0m in the Aurora Zone, including:
  • 52.0m at 218.5 g/t Ag from 508.0m
  • 624.0m at 1.13% CuEq from 606.0m
• Drillhole FSDH112 intersected 1,282.5m at 0.61% CuEq from 96.0m in the Bonita Zone, including:
  • 528.5m at 0.97% CuEq from 659.5m
  • 1.5km to the northeast of the intersection in FSDH107
• Drillhole FSDH113 intersected 833.7m at 0.64% CuEq from 532.3m in the Bonita Zone, including:
  • 510.0m at 0.71% CuEq from 590.0m
• Drillhole FSDH116 intersected 610.0m at 0.39 g/t Au, 0.15% Cu and 2.2 g/t Ag from 22.0m in the Tamberias Zone
  • 4.3km to the southwest of the intersection in FSDH112

Commenting on the release, Jamie Beck, President, and CEO stated, “Hole 107 has provided an expansion of the Aurora Zone, 300mto the west of hole 41.  We now interpret mineralization on this section to have a minimum east-west width of 700m, remaining open in both directions.  Additionally, holes 112 and 113 confirm the strong mineralization encountered in the Bonita area and are helping us to target the high-grade corridor running throughout the deposit with several of the current holes.  Three kilometres to the south of hole 107 we have confirmed a gold-rich porphyry in hole 116 in the Tamberias area, further expanding the footprint of the overall deposit.  We have now drilled continuous mineralization over 5.5 kilometres between holes 116 in the south and 114 in the north, with hole 107 expanding the width, and still the deposit is open in all directions.” Mr. Beck continued, “The previously announced arrangement with BHP and Lundin Mining is progressing on schedule and is anticipated to be completed in the first quarter of 2025.”

Intersections from recently completed holes are shown in the table below, with hole locations on the accompanying figures.

Mineralized zones at Filo del Sol are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths.

¹Copper Equivalent (CuEq) for drill intersections is calculated based on US$ 3.00/lb Cu, US$ 1,500/oz Au and US$ 18/oz Ag, with 80% metallurgical recoveries assumed for all metals. The formula is: CuEq % = Cu % + (0.7292 * Au g/t) + (0.0088 * Ag g/t)

FSDH099 and FSDH110 were collared on the western side of the deposit, 200m apart on sections 9200N and 9000N respectively, and drilled back towards the east across the Aurora Zone.  Both holes were lost due to technical drilling challenges exacerbated by sitting idle over the winter, just as they were entering the main high-grade zone.  The final 20m averaged 1.00% CuEq (0.81% Cu, 0.23 g/t Au, 2.7 g/t Ag) in FSDH099 and 1.29% CuEq (0.82% Cu, 0.45 g/t Au, 16.2 g/t Ag) in FSDH110.

Both holes intersected the shallow copper oxide zone well outside of the current mineral resource, from 392.0m in FSDH099 and from 362.0m in FSDH110, before entering the main sulphide mineralization.

FSDH107 was collared on Section 9200N and drilled to the west at -70^o, targeting the western extension of the Aurora Zone.

A 68.0m zone of oxide gold mineralization was intersected from 424.0m to 492.0m, including a 20.0m section at 1.46 g/t gold, followed by a 52.0m section at 218.5 g/t silver starting at 508.0m.  Primary sulphide mineralization starts at 564.0m and continues to the end of the hole, including a 624.0m section averaging 1.13% CuEq.

This hole has extended the Aurora Zone to the west by 300m, and the zone remains wide open in that direction.

Partial results from FSDH112 were released on June 10^th, 2024 with the final results shown in the table above.  This hole intersected a broad zone of good mineralization from 96.0m, including the key high-grade corridor with 528.5m at 0.97% CuEq from 659.5m.  For reference, this intersection is 1.5km northeast of the intersection in FSDH107 and is thought to be continuous between the two holes.

FSDH113 was collared on Section 10700N, between holes FSDH091 and FSDH112, and drilled towards the east at an angle of -70^o in order to test for an extension to a high-grade corridor intersected in those two holes.

This hole appears to have passed just above, and to the east of, the high-grade corridor, confirming a large zone of good grade mineralization flanking it and helping to target the centre of the zone.

FSDH116 was drilled in the Tamberias Zone, well south of Aurora and Bonita, to follow up on a north westerly-trending zone of auriferous sheeted veins exposed in surface trenching.  Four trenches along a strike length of almost 700m returned 230m at 0.36 g/t Au, 470m at 0.32 g/t Au, 227m at 0.45 g/t Au and 90m at 0.35 g/t Au.  The hole intersected two sheeted vein zones including 58.0m at 0.92 g/t Au and 24.2m at 0.88 g/t Au confirming the continuation to depth of the surface mineralization.  Overall, the hole intersected a 610.0m section with an elevated gold:copper ratio (0.39 g/t Au and 0.15% Cu) compared to mineralization to the north.

Discussion and Outlook

Drilling recommenced in early September following a winter break, with approximately 9,500m of drilling completed since resumption of activities. As we transition into the austral summer season, drilling is ongoing with nine rigs active on the project. Assay results for completed holes will be released as they are received, analyzed, and confirmed by the Company.

On behalf of Filo,

Jamie Beck
President and CEO

About Filo del Sol

Filo del Sol is a high-sulphidation epithermal copper-gold-silver deposit associated with one or more large porphyry copper-gold systems. Overlapping mineralizing events combined with weathering effects, including supergene enrichment, have created several different styles of mineralization, including structurally controlled and breccia-hosted gold, manto-style high-grade silver (+/- copper) and high-grade supergene enriched copper within a broader envelope of disseminated, stockwork and breccia-hosted sulphide copper and gold mineralization. This complex geological history has created a heterogeneous orebody which is characterized by zones of very high-grade copper +/- gold +/- silver mineralization within a large envelope of more homogeneous, lower-grade mineralization.

Qualified Persons and Technical Notes

The scientific and technical disclosure for the Filo del Sol Project included in this news release have been reviewed and approved by Bob Carmichael, B.A.Sc., P.Eng. who is the Qualified Person as defined by NI 43-101. Mr. Carmichael is Vice President, Exploration for the Company. Samples were cut at Filo’s operations base at Estancia Guañizuil near the town of Rodeo, Argentina by Company personnel. Diamond drill core was sampled in 2 metre intervals (except where shortened by geological contacts) using a rock saw for sulphide mineralization. Oxide mineralization was cut with a core splitter in order to prevent dissolution of water- soluble copper minerals during the wet sawing process. Core diameter is a mix of PQ, HQ and NQ depending on the depth of the drill hole. Samples were bagged and tagged and packaged for shipment by truck to the ALS preparation laboratory in Mendoza, Argentina where they were crushed and a 500g split was pulverized to 85% passing 200 mesh. The prepared samples were sent to the ALS assay laboratories in either Lima, Peru or Santiago, Chile for copper, gold and silver assays, and multi-element ICP and sequential copper analyses. ALS is an accredited laboratory which is independent of the Company. Gold assays were by fire assay fusion with AAS finish on a 30g sample. Copper and silver were assayed by atomic absorption following a 4-acid digestion. Samples were also analyzed for a suite of 36 elements with ICP-ES and a sequential copper leach analysis was completed on each sample with copper greater than 500ppm (0.05%). Copper and gold standards as well as blanks and duplicates (field, preparation and analysis) were randomly inserted into the sampling sequence for Quality Control. On average, 9% of the submitted samples are Quality Control samples. No data quality problems were indicated by the QA/QC program.

Mineralized zones within the Filo del Sol deposit are typically flat-lying, or bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths.

¹Copper Equivalent (CuEq) for drill intersections is calculated based on US$ 3.00/lb Cu, US$ 1,500/oz Au and US$ 18/oz Ag, with 80% metallurgical recoveries assumed for all metals. The formula is: CuEq % = Cu % + (0.7292 * Au g/t) + (0.0088 * Ag g/t).

Base map with sat image (CNW Group/Filo Corp.)

Long section with plan (CNW Group/Filo Corp.)

About Filo Corp.

Filo is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in San Juan Province, Argentina and adjacent Region III, Chile. The Company’s shares are listed on the TSX and Nasdaq First North Growth Market under the trading symbol “FIL”, and on the OTCQX under the symbol “FLMMF”.