Filo Mining Corp. announce the discovery of a new porphyry copper-gold centre along the Filo trend at the Filo del Sol Project in San Juan, Argentina. Drillhole FSDH060 was collared almost 2km northeast of FSDH041 and has intersected what is interpreted as a separate porphyry system along the Filo del Sol corridor.

Highlights and detailed results are shown below: Drillhole FSDH060 was drilled to a final depth of 1,070m and intersected 738.0m at 0.51% CuEq from a depth of 332m, including; 322m at 0.63% CuEq from 620m. The hole is interpreted to have intersected a new porphyry centre, named the Bonita zone, along the Filo trend, confirming that Filo del Sol hosts a multikilometer, northeast-trending alignment of overlapping porphyry-centered hydrothermal systems which is open to expansion both to the south and to the north. The Bonita zone represents a very high-priority drill target, and follow-up drilling will be prioritized beginning in the South American spring season.

FSDH060 was collared 2km to the northeast of FSDH041 and drilled to the west at an angle of -75o to a final depth of 1,070m. The hole intersected rhyolite to a depth of 852m where it transitioned to granite, both of these lithologies forming the typical country rock at Filo. A-type porphyry veins are present below 430m, and B-type veins with molybdenite are scattered throughout.

Alteration is dominated by moderate to intense quartz-alunite and mineralization consists primarily of vein-hosted and disseminated covellite and chalcocite. A narrow interval of potassic-altered porphyry with chalcopyrite and magnetite mineralization intersected at depth confirms the Bonita zone to be a new porphyry copper-gold center. The hole ended in mineralization, with the last 20m averaging 0.50% CuEq (0.39% Cu, 0.13 g/t Au, 1.9 g/t Ag).

Outlook: Drilling is ongoing throughout the South American winter for the first time at Filo del Sol. Accordingly, the company will continue with 6 diamond drill rigs in order to maximize safety and operational performance during the winter season. Plans are in place to ramp up the rig count as the weather moderates in the spring.

Winter holes are designed to expand and infill the Aurora and Breccia 41 zones and drilling will transition to larger step-out holes to continue to try to find the edges of the mineralized zone and to investigate the Bonita zone as spring arrives. Holes that have now been completed with assays pending include: FSDH061, located 228m northeast of FSDH057, completed to a depth of 1,093m; FSDH063, located 150m west of FSDH025, to investigate the southwestern extension of the Aurora zone, completed to a depth of 1,141m; FSDH066, located 1.3km northeast of FSDH060, to investigate the area under the Maranceles veins, a series of quartz-enargite veins which outcrop in this area, completed to a depth of 458m; Assay results for these holes will be released as they are received, analyzed and confirmed by the Company.