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Boiling can be inferred from fluid inclusion microthermometry studies when a progressive increase in apparent salinity is observed along with a decrease of homogenization temperature (T_H) and depth, thus reflecting the partitioning of non-volatile solutes into the liquid phase during steam loss. We propose a model for fluid evolution during boiling based on mass and heat balance equations, which establishes paths in the T_H-salinity space that can be compared with fluid inclusion data to confirm or discard boiling. Additionally, the model allows calculating paleo-depths, for which the effect of steam bubbles lowering the hydrostatic pressure is taken into account. The Bolaños Ag–Au–Pb–Zn deposit was selected to test the suitability of the proposed model, given that previous work in this deposit emphasizes the role of boiling in ore deposition. The Bolaños deposit belongs to the low-sulfidation epithermal type and is …