Filo Mining Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) reports results from hole FSDH067 at the Filo del Sol Project in San Juan, Argentina. This hole was drilled into the Aurora Zone, 100m to the northwest of FSDH058. Highlights and detailed results are shown below along with accompanying figures:

Drillhole FSDH067 intersected 1,131.6m at 1.11% CuEq from a depth of 132m, including;

• • 4m at 1.54% Cu, 12.08 g/t Au and 20.5 g/t Ag from 202m
  • 36m at 0.76% Cu, 0.71 g/t Au and 123.2 g/t Ag from 248m
• The hole ended in strong mineralization at a depth of 1,263.6m

Commenting on the results, Jamie Beck, President, and CEO stated, “Hole 67 builds on our successful drilling within the Aurora Zone and was another critical hole to enhance our understanding of the geology within this zone. The hole bottomed in strong mineralization and was unable to continue as we reached the depth capacity of the drill rig. We’ve now got rigs on site with the ability to drill much deeper, and one of our near-term goals is to try to find the bottom of this amazing deposit. There are five holes currently underway at the project, including hole 64 at 1,373m, while hole 62 has just ended at 1,447m.”

FSDH067 was pre-collared with a reverse circulation drill to a depth of 350m, and continued with core drilling below this depth. Drill results presented here are a combination of RC chip samples to 350m and cut drill core samples below. This hole intersected the Aurora Zone on Section 8800N, 75m northwest of FSDH058 and 100m northeast of FSDH048. The closest hole to the north is FSDH032A which is 300m away.  FSDH064, located 75m to the northwest, is currently in progress.

Geology in this hole was very similar to FSDH058, and as more holes are drilled into the deposit our geological interpretation and geological model improve.

Outlook

Six rigs are working on site now, and we are planning to add additional rigs into the program as the weather moderates. Our winter campaign, which focused on the Aurora and Breccia 41 Zones, was planned to keep our drill rigs close together to prioritize safety. As these holes finish up, drilling will begin to spread out to test new exploration targets while also keeping a focus on expanding and defining the known zones. Some big step-out holes are planned to the north and south (including testing the Gemelos target, located 5km northeast of the Aurora Zone) along with smaller step-outs, as we drill to the north of FSDH061 and south of FSDH063. We continue to maintain a strong focus on improving drill productivity through a variety of initiatives and are planning for consistent drilling news flow over the next 12 months.

FSDH062 has just been completed to a final depth of 1,447m and fills a 200m gap between holes 44 and 46.  Five holes are currently underway, and assay results for these holes will be released as they are received, analyzed and confirmed by the Company. Two additional holes, FSDH065 (196m) and FSDH066 (458m) were suspended earlier this year, prior to the winter weather, and will be deepened during the upcoming months.

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 Mining’s operations base near the town of Guañizuil, 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.  RC samples were collected at the drill site by Company personnel with splitting carried out at the Company’s field camp near the drill sites.  Individual samples represent final splits from 2 metre intervals down the 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).

About Filo Mining

Filo Mining is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in Chile’s Region III and adjacent San Juan Province, Argentina.

Base map Oct 22 (CNW Group/Filo Mining Corp.)

Long section Oct 22 (CNW Group/Filo Mining Corp.)