Next Phase Of Exploration At Silver Cliff Project

VANCOUVER – Viscount Mining Corp. reported on exploration at its flagship Silver Cliff Project in Custer County, Colorado. Building on a strong technical foundation and recent discovery success, the Company is advancing both the Kate Silver Resource (KSR) and the Passiflora porphyry Copper-Gold deposit with expanded programs designed to grow resources and better focused drill targeting.
The Kate Deposit currently hosts a NI 43-101 compliant resource of 10.3 million ounces measured and indicated at an average grade of 72 g/t silver, plus 14.2 million ounces inferred at 52 g/t silver. The upcoming program will integrate surface mapping, geochemical sampling, and geophysics to delineate drill targeting. The goal is to expand the existing resource by validating up to 25 million ounces of historical silver estimates and adding these into the compliant framework.
In February 2025, the U.S. Department of the Interior added silver to its Critical Minerals List, underscoring the metal’s strategic role in electrification, clean energy technologies, and national security. This designation comes as silver prices recently surged through the US$40/oz level, their highest since 2011. Analysts from Bloomberg and Kitco highlight that silver’s breakout reflects structural deficits and record demand from solar panels, electric vehicles, and grid-scale energy storage.
Based on the most recent NI 43-101 report for the Kate Silver Resource, the project hosts 10.3 million ounces of silver in the measured and indicated category and 14.2 million ounces inferred, at grades of 72 g/t and 52 g/t respectively. When the study was completed, silver was trading near the US$25/oz level. With silver now trading above US$40/oz, the conceptual in-situ value of the existing compliant resource increases substantially (~60% uplift), underscoring the potential economic significance of Silver Cliff. While additional engineering and economic studies are required to determine recoverable value, the stronger silver market provides a compelling backdrop for expanding the resource base and advancing the project.
Viscount’s recent discovery drilling at the Passiflora target has confirmed the presence of a robust copper-gold porphyry deposit. The Company’s first deep hole, PF-03A, intersected 843.9 metres of continuous mineralization averaging 0.214% CuEq, including multiple higher-grade zones such as 189 metres at 0.326% CuEq and 45 metres at 0.417% CuEq. These grades are well above the ~0.15% CuEq thresholds commonly reported in early-stage porphyry programs that later evolved into world-class, long-life operations. Importantly, mineralization in PF-03A remains open in all directions and at depth, with copper grades strengthening toward the bottom of the hole.
The results clearly establish Passiflora as a copper-gold porphyry deposit, characterized by thick intervals of copper mineralization with significant gold credits and supporting polymetallic values. This geological classification is significant, as porphyry copper-gold deposits are among the largest and longest-lived deposits globally, frequently hosting billions of tonnes of ore.
Building on this discovery the next phase of exploration will focus on reverse circulation drilling to efficiently test two breccia pipes previously mapped by the United States Geological Society, interpreted as vertical conduits that may concentrate higher-grade mineralization. In parallel, Viscount will integrate results from a 598-sample SGS MMI soil survey with induced polarization and resistivity geophysics to refine targeting across the broader porphyry footprint. Permitting for drilling has commenced.
Beyond copper and gold, the Company also intends to revisit at the Passiflora the historical 60 million ounce silver resource reserve calculation by CoCa Resources released in 1983 which indicated at least 64M oz. silver at 51.9 G/T (not NI 43-101 compliant) stating, “a sustained advance in silver price to the $15 level would make the deposit quite attractive (R. A. Rivera, 1983).” Viscount will apply modern QA/QC protocols to assess its potential inclusion in future NI 43-101 compliant estimates.
Viscount Mining believes the combination of a strengthening silver market, critical mineral designation, and dual opportunities at Kate and Passiflora create exceptional growth potential for the Silver Cliff Project.