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Viscount  Mining  Announces  Reconnaissance  Drill  Test  Results  At  Its  Cherry Creek  Property  In  Nevada

PRESS RELEASE                                                                                            February 21, 2019

VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”) conducted a two-hole reconnaissance reverse circulation (RC) drill test totaling 434 meters (m) or 1,425 feet (ft) on the Cherry Creek property in late November and early December 2018. Hole numbers are CC045 and CC046. The purpose of the drilling was to test the Star Vein and the Exchequer Vein system’s in the vicinity of their namesake historic mines for continuity of the veins at depth, and to better understand the nature of the mineralization in the veins and host geology.  The holes were drilled utilizing a Foremost Explorer 1500 RC drill supplied by Boart Longyear of Elko, Nevada.

Mark Abrams, Viscount Director and geologist, stated: “The two-hole reconnaissance drill test program accomplished the objectives we hoped to achieve.  First, hole CC045 established that the South Star Vein extends much deeper than previously known from review of existing underground mapping.  Further, the vein possibly widens at depth, although more drilling is required to confirm this. Hole CC045 also successfully tested the upper level of the lesser known North Star Vein and established gold and silver mineralization is present within 132 m (434 ft) of the surface, even though the vein has not been mapped on the surface.  We are encouraged by this and intend to explore for the North Star Vein on the surface.  Additionally, both hole CC045 and CC046 appear to have identified quartz vein stockwork alteration which we plan to investigate further. Stockworks are a common feature in many mineral deposits and mines worldwide. They consist of swarms of thin discontinuous veinlets that can host mineralization.”

RC Hole CC045 test of the Star Vein System

The Star Vein system is comprised of the South Star Vein and the North Star Vein emplaced about 9 m (30 ft) apart and are subparallel to each other.  Both veins have a production history, with the South Star Vein having the greatest production.  Mineralization in the Star veins is hosted in a black phyllite and grey/tan quartzite of the Precambrian Prospect Mountain Formation.

Hole CC045 was drilled across the North Star and South Star veins.  The hole was designed to test the deeper portion of the South Star vein, as well as, the North Star Vein.  It was drilled to 261 m (855 ft) on an azimuth of 204° and at a -65° angle to horizontal.

After encountering an underground working from123.4 to 125 m (405-410 ft), hole CC045 intersected 7.6 m (25 ft) to 132.6 m (435 ft) of quartz-veined black phyllite interpreted to be an unmined portion of the North Star Vein and its footwall. This intercept of 4.5 m (14.76 ft) estimated true thickness assayed 1.6 grams of gold per tonne (g/t Au) or 0.051 oz/ton and 24.88 grams of silver per tonne (g/t Ag) or 0.796 oz/ton. The intercept includes two higher grade intervals: 3.26 g/t Au (0.10 oz/ton) and 36 g/t Ag (1.15 oz/ton) over 1.52 m (126.49-128.01 m or 415-420 ft) and 2.42 g/t Au (0.08 oz/ton) and 27.5 g/t Ag (0.88 oz/ton) over 1.53 m (131.06-132.59 or 430-435 ft), respectively of estimated true thickness 0.90 m (2.95 ft) and 0.91 m (2.97 ft).

Hole CC045 also intersected what is interpreted from the presence of quartz and sulphides in several sections to be an unmined portion of the South Star Vein from 230.1 m (755 ft) to 260.6 m (855 ft) where caving backfill in historic mine workings caused the hole to be terminated.  The 30.5 m (100 ft) interval has an estimated true thickness of 19.59 m (64 ft) whereas the historic production width was in the 0.5-2.0 m range.

Included in the above interval was 1.52 m (5 ft) of quartz-veined black phyllite from 240.79 to 242.31 m (790-795 ft) that assayed 0.822 g/t Au (0.026 oz/ton) and 30 g/t Ag (0.96 oz/t). Estimated true thickness is 0.9 m (2.95 ft).

RC Hole CC046 test of the Exchequer Vein System

The Exchequer Vein system is comprised of the Exchequer Vein (also known as the New Century or Imperial Vein) and the Blue Vein.  The Exchequer and Blue Veins are distinct, subparallel, approximately 9 to 18 m (30 to 60 ft) apart along the Exchequer Fault and separated by quartz monzonite which hosts disseminated gold and silver mineralization as reported in Nevada Bureau of Mines and Geology Bulletin 14, Spruce Mountain District, Elko County and Cherry Creek (Egan Canyon) District, White Pine County, F.C. Schrader (USGS), August 1, 1931. .

Hole CC046 was drilled to 174 m (570 ft) across the Exchequer and Blue veins at an azimuth of 200° and angle of -65°.  It was designed to test the deeper portions of both veins as well as the intervening mineralized intrusive.

The geology encountered by hole CC046 is complex due to the Exchequer Vein’s propensity to “feather out” in quartzite of the Precambrian Prospect Mountain Formation.  This Formation in the Exchequer Mine area hosts numerous veins as well as a mix of intermediate intrusive dikes that have intruded parallel to the veins.  A “feathered” appearance noted in drill sample chips of the Exchequer Vein may indicate potential for a stockwork type of mineralization surrounding the main veins and, if so, suggests the possibility for a much larger mineralization target. Surface rock sampling of stockwork quartz veining along the strike of the Exchequer Vein in an area of no historic mining or drilling has yielded sample results up to 1.69 g/t Au (0.054 oz/ton) and 320 g/t Ag (10.24 oz/ton), also providing encouragement to search for a nearby bulk tonnage target.

Based on the amount of quartz vein and fine-grained sulfide in the chips, the Exchequer Vein is interpreted to have been intersected from 91 to 110 m (300-360 ft) in hole CC046.  The true thickness is estimated at 12 m (39.3 ft).  A dark porphyritic dike from126.5 to 129.5 m (415-425 ft) is likely the quartz monzonite dike noted in the literature as occurring between the Exchequer Vein and the Blue Vein.  The Blue Vein, as evidenced by the abundance of blue-green chlorite in a 90% quartz matrix, was cut from 166 to 174 m (545-570 ft for an estimated true thickness of 5 m (16.4 ft).  Assayed intervals from both veins were not anomalous.

Quality Assurance/Quality Control (“QA/QC”) Measures, Chain of Custody

The Company has implemented a rigorous QA/QC program using best industry practices at the Cherry Creek Property. Drill cuttings samples are split down on the rig to 3-4 kilograms and placed in securely-sealed bags for transportation to the ALS laboratory in Elko, Nevada; for sample preparation and subsequent analysis at ALS Canada Ltd. in Vancouver.  A small “B split” of each of drill cutting sample interval was collected at the rig and archived in secure storage.  The sample pulps and rejects will be retrieved from ALS.  The insertion of standards, blanks and duplicates as well as logging was conducted by Viscount personnel at the property site.

Assays for gold are completed at ALS using the Au-ICP21 method.  This method includes a fire assay fusion of a 30 gram sample charge that has been pulverized to 85% passing 200 Mesh, followed by ICP (Inductively Coupled Plasma-Atomic Emission Spectrometry (ICP-AES).  Analysis for silver and pathfinder elements was also completed at ALS using the ME-ICP41 method.  This method utilizes a 0.5 gram sample charge that has been pulverized to 85% passing 200 Mesh followed by Aqua Regia dissolution and then analyzed by ICP-AES.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a “Qualified Person” (QP) as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). It is noted that seasonal weather conditions have prevented a field inspection which will be conducted by the QP as soon as possible in the Spring.

About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF) 


Viscount Mining
is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.

The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road.   The property consists of 2,319.48 acres where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900’s.  The property underwent substantial exploration between 1967 and 1984.

The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals.  This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations.  Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following takeover by another company.

The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada.  Cherry Creek consists of 293 unpatented and patented claims as well as mill rights and is comprised of more than 2,442 hectares.  Cherry Creek includes more than 20 past producing mines.

For additional information regarding the above noted property and other corporate information, please visit the Company’s website at www.viscountmining.com

 

ON BEHALF OF THE BOARD OF DIRECTORS

“Jim MacKenzie”
President, CEO and Director

 For further information, please contact:

Viscount Investor Relations

Phone: 1 844 863 3622

Email: info@viscountmining.com

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.

Forward-Looking Statements

This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

 

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VISCOUNT CLOSES A $1 MILLION NON-BROKERED PRIVATE PLACEMENT

 

PRESS RELEASE                                                                                                                January 22, 2019

VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or the “Company”) is pleased to announce a Non Brokered Private Placement raising gross proceeds of $1,002,500. from the issuance and sale of 5,012,500 Units at a price of $0.20 per Unit. Each Unit consists of one (1) common share (“Common Share”) of the Company and one (1) share purchase warrant (“Warrant”). Each Warrant will entitle the holder thereof to purchase one additional common share of the Issuer for a period of 2 years from the Closing Date at an exercise price of $0.35 per Warrant Share.

Three directors of the Corporation participated in the private placement. There were no new insiders created, nor any change of control as a result of this Private Placement.

On approval by the TSX-V Finder fees will be paid totaling $19,600 in cash and 73,500 broker warrants which will have the same terms and conditions as unit warrants. All securities issued in the financing are subject to a statutory hold period expiring four months and one day after closing. The Placement is subject to TSX-V approval.

The net proceeds from the placement will be used to advance the company’s mineral projects in Nevada and Colorado, and for general corporate and working capital purposes.

The Company also wishes to announce that pursuant to the Company’s Stock Option Plan it has granted 971,000 stock options at a price of $0.22 per common share to certain directors, officers and consultants of the Company.  As per the Company’s Stock Option Plan, the options granted are exercisable until January 22, 2024. The Options and underlying common shares are subject to a four-month hold period in accordance with the policies of the TSX Venture Exchange. Grant of the options is subject to the approval of the TSX Venture Exchange.

About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF) 

Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.

The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road.   The property consists of 2,319.48 acres where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900’s.  The property underwent substantial exploration between 1967 and 1984.

The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals.  This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following takeover by another company.

The Cherry Creek exploration property is focused in an area commonly known as the Cherry Creek Mining District, located approximately 30 miles north of the town of Ely, in White Pine County, Nevada.  Cherry Creek consists of over 400 unpatented and patented claims as well as mill rights, and is comprised of more than 3238 hectares.  Cherry Creek includes more than 20 past producing mines.

For additional information regarding the above noted properties and other corporate information, please visit the Company’s website at www.viscountmining.com

ON BEHALF OF THE BOARD OF DIRECTORS

“Jim MacKenzie”

President, CEO and Director

For further information, please contact:

Viscount Investor Relations

Phone: 1 844 863 3622

Email: info@viscountmining.com

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. Forward-Looking Statements This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Viscount Mining Commences Drilling at Cherry Creek, Nevada

PRESS RELEASE                                                                                                         November 29, 2018

(TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”), is pleased to announce it has started a two to four hole (610 metres -1,464 metres) reverse circulation drill program to make an initial test of the Star and Exchequer vein systems. The program will be results driven and will be expanded as needed based on visual inspection of the samples logged on site.

Kaare Foy, Viscount Chairman stated: “In 2012 Snowden completed an NI 43-101 report on Cherry Creek and its geologists, while evaluating the Star mine property identified geological, structural, mineral
and stratigraphical similarities to Newmont’s Long Canyon mine to the north which they purchased for US$2.3 billion in 2011”.

Mark Abrams, Viscount geologist stated: “Assay results received from sampling also demonstrate the poly-metallic character of Cherry Creek’s mineralization. Many of the highest assay values coincide with the known historic mining trends and the structural interpretations across the Cherry Creek property. The distribution of mineralized samples throughout the prospect, and accompanying alteration, suggests good potential for significant metal accumulations.”

Star Mine

The Star vein was the most exploited vein in the Cherry Creek District. In an NI 43 101 completed by Snowden in 2012 they stated that a report was issued by the Nevada State Bureau of Mines in Cooperation with the United States Geological Survey, dated August 1, 1931, as University of Nevada Bulletin No. 14 and entitled “Spruce Mountain District, Elko County and Cherry Creek (Egan Canyon) District, White Pine County”, by F.C. Schrader, Geologist U.S. Geological Survey. On page 35 of this report it is stated that, “…engineers credit the Star mine with a proved reserve of 15,222 tons of ore containing about 30 ounces of silver to the ton and a possible additional reserve equivalent of about 4,000,000 ounces of silver”. The average grade of the ore was reported to be 7.8 grams per tonne (gpt) gold and 22 ounces per tonne silver and lead and zinc about 8 % each (Schrader 1931). The vein is 670 metres long and +250 meters deep based on incomplete production records and data. The best-known ore shoot is 300 metres long. These estimates must be considered as historic and do not meet the National Instrument 43-101 definitions for a resource or reserve as stated in sections 1.2 and 1.3. There has been no opportunity to verify either the grade or size of the reported “ready to mine” reserve, “proved” reserve or “additional reserve equivalent” reserve and therefore the estimates cannot be considered to comply with NI 43-101. Viscount has not completed sufficient work to classify the historical reserve estimate as either a current mineral resource or mineral reserve and Viscount is not treating the historical estimate as a current mineral resource or mineral reserve as defined in NI 43-101. The historical estimates should not be relied upon and therefore have not been used in any form to determine the geology, mineralization or reserve estimation. The Star Mine has never undergone exploration using modern techniques or modern drilling. It is likely there is depth potential similar to what has already been demonstrated by historical mining. There is an additional 370 metres of strike length along the Star vein where exploration drilling may identify additional precious metal resources. Given the potential, the Star Mine warrants a significant exploration drill program to test this potential.

Exchequer Mine, Blue Vein and New Century (Imperial) Mine

Similar to the Star Mine, the Exchequer and New Century (Imperial) mines are historic producers of silver and gold, which have not been adequately evaluated for exploration potential. The Exchequer mine consists of workings on two distinct subparallel veins, emplaced approximately 9 to 18 metres apart along the Exchequer Fault, with disseminated gold and silver in the quartz monzonite wall rocks between the two veins. The southernmost of the two veins is known as the Blue Vein. It is somewhat different than the northern Exchequer Vein in that the metallurgy is less complex and more likely to be amenable to cyanidation.

The Exchequer/Blue Vein/New Century vein structure has the reasonable potential to host an exploration target of silver over 350 metres of strike that includes parts of the Exchequer and New Century mine areas. The original length of the vein in these adjacent historic mines was at least 950 metres long. Surface mapping on other historic mines to the west has followed the vein for 1,200 metres. The additional 600 metres of strike along the Exchequer vein systems represents a substantial gold and silver target with excellent upside.

In a report on from the 2012 NI 43101 on the mineralization that occurs on the subject claims for Goldera Resources Inc., Dr. W.D. Groves, P.Eng. stated on page 3:

“Extensive assaying of ore shoots exposed in workings on Goldera’s three sets of Cherry Creek, Nevada properties has an indicated 47,000 tons of “ready to mine” ore with a weighted average grade of 0.0586
oz. gold/tonne and 24.1 oz. silver/tonne….”
The 47,000 tons are distributed over five locations as follows:
R-1 New Century mine, Upper adit – Blue Vein 10,000 tons
R-2 New Century mine, Shaft and lower levels, 20,000 tons
R-3 Exchequer mine Upper adit – Blue Vein 5,000 tons
R-5 Motherlode mine Open pit 10,000 tons
R-6 Pick & Gad Mine Open Pit 2,000 tons
TOTAL 47,000 tons

This estimate must be considered an historical resource and does not meet the National Instrument 43-101 definitions for a resource or reserve as stated in sections 1.2 and 1.3. There has been no opportunity to verify either the grade or size of the reported “ready to mine” reserve and the therefore the estimate cannot be considered to comply with NI 43-101. Viscount has not completed sufficient work to classify the historical reserve estimate as either a current mineral resource or mineral reserve and Viscount is not treating the historical estimate as a current mineral resource or mineral reserve as defined in NI 43-101. The historical estimate should not be relied upon.

Viscount is currently in the final planning stages for a winter drill program at Silver Cliff to expand the indicated and inferred mineral resource of 12,704,800 ounces of silver announced May 30th of this year. This next phase will continue to confirm the historical data reported by Tenneco in order to expand the current resource and test new targets. Between 1987 and 1990 Tenneco Minerals completed a feasibility study after an intensive drilling campaign and announced plans to construct a $35 million mill at Silver Cliff. (This was the year before the parent company, Tenneco, decided to divest their mineral interests so the decision was reversed in 1991).

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)

Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.

The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road.

The property consists of 2,319.48 acres where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900’s. The property underwent substantial exploration between 1967 and 1984. The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in t he mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following takeover by another company.

The Cherry Creek Property is focused on exploration in the immediate vicinity of an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, in White Pine County, Nevada. Cherry Creek consists of over 276 unpatented and 18 patented claims as well as mill rights, and is comprised of more than 6,000 acres. Cherry Creek includes more than 20 past producing mines including Blue Bird, Chance Mine, Filmore, Last Chance, Star, Exchequer/ New Century Mine, Ticup and Motherlode mines.

For additional information regarding the above noted property and other corporate information, please visit the Company’s website at www.viscountmining.com

ON BEHALF OF THE BOARD OF DIRECTORS

“Jim MacKenzie”
President, CEO and Director

For further information, please contact:
Viscount Investor Relations
Phone: 1 844 863 3622
Email: info@viscountmining.com

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.

Forward-Looking Statements
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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