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2017-09-19

FILO MINING TO COMPLETE PRELIMINARY ECONOMIC ASSESSMENT ON FLAGSHIP FILO DEL SOL PROJECT

Filo Mining Corp.
Pressmeddelande

FILO MINING TO COMPLETE PRELIMINARY ECONOMIC ASSESSMENT ON FLAGSHIP FILO DEL
SOL PROJECT

September 19, 2017: Filo Mining Corp (TSXV, Nasdaq First North: FIL) ("Filo
Mining", “Filo”, or the “Company”) is pleased to report that the Board of
Directors has approved the commissioning of an independent Preliminary Economic
Assessment (“PEA”) of the Filo del Sol copper-gold-silver project, located
along the border between Chile and Argentina.

The Company has hired SRK Consulting (Canada) Inc. to lead the study which will
be based on the updated mineral resource estimate released on August 21, 2017
and will contemplate open-pit mining and heap leach processing of the oxide
portion of the resource. The PEA is expected to be completed by the first
quarter of 2018.

A comprehensive program of metallurgical testwork is underway on samples
collected during the 2017 field program including four bulk samples collected
from surface exposures of the deposit. This work is being carried out at SGS
Canada, Inc. in Lakefield, Ontario and will guide the determination of optimum
processing options for the project.

Commenting on today’s news release, Adam Lundin, President and CEO of Filo
Mining remarked, “We’re liking what we see at Filo del Sol – a significant
increase in resources with a 98% conversion from inferred to indicated;
excellent preliminary metallurgical test results; distinct gold oxide,
copper-gold oxide, and silver zones that appear amenable to heap leach
processing; and excellent exploration upside remaining. So far, all
indications are pointing in the right direction and now is the time to move the
project ahead to the next step with a Preliminary Economic Assessment.”

The Filo Board has also approved a work program for the 2017/2018 field season
during the South American summer. This program is designed to collect
sufficient data to allow for the completion of a Pre-Feasibility Study during
2018, contingent on the recommendations from the PEA. Field work will include
reverse circulation and diamond drilling for resource conversion, metallurgical
sample collection and geotechnical information, as well as infrastructure site
investigations and ongoing environmental studies.

QUALIFIED PERSONS

Mr. Jamie Beck , B.A.Sc, P.Eng.,MBA, is the Qualified Person as defined by
National Instrument 43-101. Mr. Beck is Vice President, Corporate Development
& Projects for the Company and has reviewed and verified that the technical
disclosure contained in this news release is accurate.

Mr. Bob Carmichael, B.A.Sc, P.Eng., is the Qualified Person as defined by
National Instrument 43-101. Mr. Carmichael is Vice President, Exploration for
the Company and has reviewed and verified that the technical disclosure
contained in this news release is accurate.

ABOUT FILO MINING CORP.

Filo Mining’s flagship project is its 100% controlled Filo del Sol Project
located on the border between San Juan Province, Argentina and Region III,
Chile. Filo del Sol is located between the prolific Maricunga and El Indio Gold
Belts, two major mineralized trends that contain such deposits as Caspiche, La
Coipa, Veladero, El Indio, and Pascua Lama. The region is mining-friendly and
hosts a number of large scale mining operations. The project area is covered
under the Mining Integration and Complementation Treaty between Chile and
Argentina, which provides the framework for the development of cross border
mining projects.

ADDITIONAL INFORMATION

Filo Mining is listed on the TSX-V and Nasdaq First North Exchange under the
trading symbol "FIL". Pareto Securities AB is the Company's Certified Adviser
on Nasdaq First North.

This information was submitted for publication, through the agency of the
contact person set out below, on September 19, 2017 at 2:00 a.m. Toronto Time.

On behalf of the Board of Directors of Filo Mining,

Adam I. Lundin
President and CEO

For further information, please contact: Sophia Shane, Investor Relations (604)
689-7842.

Neither 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

Certain statements made and information contained herein in the press release
constitutes “forward-looking information” and “forward-looking statements”
within the meaning of applicable securities legislation (collectively,
“forward-looking information”), concerning the business, operations and
financial performance and condition of Filo Mining Corp. The forward-looking
information contained in this press release is based on information available
to the Company as of the date of this press release. Except as required under
applicable securities legislation, the Company does not intend, and does not
assume any obligation, to update this forward-looking information. Generally,
this forward-looking information can frequently, but not always, be identified
by use of forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or statements that certain actions, events,
conditions or results “will”, "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved" or the negative connotations thereof.

All statements other than statements of historical fact may be forward-looking
statements. Forward-looking information is necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different
from those expressed or implied by such forward-looking information, including
but not limited to: risks and uncertainties relating to, among other things,
the inherent uncertainties regarding cost estimates, changes in commodity
prices, currency fluctuation, financing, unanticipated resource grades,
infrastructure, results of exploration activities, cost overruns, availability
of financing, materials and equipment, timeliness of government approvals,
taxation, political risk and related economic risk and unanticipated
environmental impact on operations, as well as other risks and uncertainties
more fully described under "Risk Factors" and elsewhere in the Company's most
recent Annual Information Form available under the Company's profile at
www.sedar.com and on the Company's website. These risks and uncertainties may
cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such
forward-looking information.

The Company believes that the expectations reflected in the forward-looking
information included in this press release are reasonable but no assurance can
be given that these expectations will prove to be correct and such
forward-looking information should not be unduly relied upon. This
forward-looking information speaks as of the date of this press release.
Forward-looking information in this news release includes, but is not limited
to, statements regarding the Company’s expectations with respect to the timing
of the PEA, the assumptions used in the mineral resource estimates for the Filo
del Sol project; expected timing with respect to a decision on whether to
proceed towards a PFS, expectations with regard to processing methods,
potential for adding to mineral resources through exploration; estimations of
commodity prices, mineral resources, and costs.

Statements relating to "mineral resources" are deemed to be forward looking
information, as they involve the implied assessment, based on certain estimates
and assumptions that the mineral resources described can be profitably produced
in the future.

Forward-looking information is based on certain assumptions that the Company
believes are reasonable, including that the current price of and demand for
commodities will be sustained or will improve, the supply of commodities will
remain stable, that the general business and economic conditions will not
change in a material adverse manner, that financing will be available if and
when needed on reasonable terms and that the Company will not experience any
material labour dispute, accident, or failure of plant or equipment. These
factors are not, and should not be construed as being, exhaustive. Although the
Company has attempted to identify important factors that would cause actual
results to differ materially from those contained in forward-looking
information, 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. All of the
forward-looking information contained in this document is qualified by these
cautionary statements. Readers are cautioned not to place undue reliance on
forward-looking information due to the inherent uncertainty thereof.

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