Significant Updated Mineral Resource At Silver Cliff

VANCOUVER - Viscount Mining Corp. reported on an independent, updated mineral resource estimate in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The resource estimate was completed by Viscount Mining Corp. who retained Harald Hoegberg to update the mineral resource estimate conducted by Arseneau Consulting Services (ACS) in 2018 on the Kate Silver Resource (KSR), a deposit located on Viscount's Silver Cliff property, just north of the town of Silver Cliff, in Custer County, Colorado. This NI 43-101 demonstrates a major expansion of the open pit (OP) mineralization at the Kate.

The updated technical report is a compilation of historical work conducted by various operators managing the Silver Cliff property between 1965 and 1992, deemed acceptable for resource estimate inclusion by Dr. Arseneau and previous drilling performed by Viscount in 2016 and 2017 (Arseneau, 2018). The update included Arseneau's data interpretation as well data from four drilling campaigns conducted by Viscount from 2020 to 2022 and field data gathered during the same time frame.

Highlights of the Kate Resource Estimate: 85 percent increase in measured and indicated mineral resources at 71g/t from 5,560,900 million ounces (Moz) to 10,275,000 Moz Ag; 99 percent increase in inferred mineral resources at 52g/t from 7,143,900 Moz to 14,215,000Moz Ag; and A total of 36 drill holes (1628 meters) were added to the 18 Viscount holes used in the previous resource estimate, totaling 54 drill holes (2865 meters for the KSR).

Jacob Hooker, Exploration Manager, said, "This will be a busy year at Silver Cliff as we are currently finalizing drill plans to continue to upgrade on the historical resource proven by Tenneco in the late 1980s and early 1990's at the KSR. We are also completing our drill plans at the Passiflora to follow up on the Quantec Geoscience USA Inc. report. As verified by Quantec, a deposit with this large scale size and this high of a conductivity (extremely low resistivity) is likely explained by a huge system of interconnected mineralized fractures."

The NI 43-101 considers most of the Kate deposit to be a reasonable prospect for eventual open-pit mining given its proximity to the surface and flat-lying distribution. A flat-lying, base metal rich deposit could be indicative of polymetallic replacement. The high correlation of silver and base metals and the lack of gold makes it seem possible that the deposit is a manto type deposit. Recent geophysical investigations to the north of the KSR indicate the presence of a porphyry system that would fit the manto deposit model. A technical report is being prepared on the updated mineral resource estimate in accordance with NI 43-101.