FenixOro Gold Corp. announced that a second drill has been mobilized to begin exploration drilling on the highly prospective southeast block. This next phase of drilling will focus on reconnaissance scale drilling of all new targets.

A pattern of four holes will test a series of NW and E-W trending veins near the currently drilled area. Several of these veins have 20+ g/t gold assays in shallow mine workings. A second pattern of holes one kilometer to the southeast will provide the first drill test of a second group of highly prospective veins.

Soil sampling indicates that there may be significantly more veins in the area than are shown on the figure and that the largest may be more than 600 meters in strike length. The veins are exposed at a higher elevation than those to the northwest (an average of 2,500 meters vs. 2,100 meters) giving them a minimum one vertical kilometer of mineralization potential.

The geochemical signature in the area is different with the equally high grade gold being accompanied by significantly higher silver (silver/gold ratio of 16 vs. 1.5) with higher copper and lead. To date, the 15 holes totaling more than 7,000 meters of drilling at Abriaqui have focused on evaluation of the dozens of veins in the northwestern part of the property.

Two main corridors of northwest and east-west trending veins have been delineated by mapping, soil sampling, ground magnetics, and diamond drilling. The most significant veins in the northwest corridor appear to have continuous gold mineralization along 500 "800 meters of strike and a minimum of 700 vertical meters and all veins are open at depth. Thickness in these principal veins ranges up to 15-20 meters and gold grades range from 2-20+ g/t with a silver/gold ratio of about 1.5/1. These main families of veins in the northwest have been drilled at an average 200 meter spacing along strike and their geometry is fairly well understood.

Drill core sampling is done in accordance with industry standards. The HQ and NQ diameter core is sawed, and half core samples are submitted to the laboratory. The other half core along with laboratory coarse reject material and sample pulps are stored in secure facilities on site and/or in the sample prep lab.

Following strict chain of custody protocols, the samples are driven to the ISO 17025:2017 certified ALS Laboratory sample preparation facility in Medellin and ALS ships the prepared pulps to their assay laboratory in Lima, Peru. Blanks, duplicates, and certified reference standards totaling 15% of the total samples are inserted into the sample stream. To date, no material quality control issues have been detected.

Gold is analyzed by fire assay with 50 gram charges for grades in excess of 10 grams per tonne and the additional elements are analyzed by ICP with appropriate follow-up for over-limits. Reported grade intervals are calculated using uncut gold values. Maximum sample length is one meter.

Intervals which include multiple samples are calculated using the full geologic interval of mineralization and are not subject to specific rules for cutoff grades and internal low grade. As such, quoted thickness and grade of these intervals do not necessarily represent optimized economic intervals in a potential future mine. Reported sample and interval widths are based on lengths of individual samples in core and do not necessarily represent true widths of mineralization.

True widths will sometimes be less than the quoted interval lengths. There are currently no NI 43-101 compliant resources or reserves in the project area. The analysis of drill results is intended to estimate the potential for future resources which will require significant additional drilling to define.