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Thursday, 12/29/2016 6:01:56 PM

Thursday, December 29, 2016 6:01:56 PM

Post# of 108
Viscount drills 50 feet of 26.92 ounces per ton silver.


2016-12-21 09:08 ET - News Release


Mr. Jim MacKenzie reports

VISCOUNT MINING REPORTS HIGH GRADE SILVER INTERCEPT AT ITS SILVER CLIFF PROPERTY IN COLORADO

Viscount Mining Corp. has released first drill results from the Silver Cliff property in the Hardscrabble silver district of Custer county, Colorado. The 2016 drill program that Viscount commenced in mid-November, 2016, had as its primary objective the confirmation of historical drilling and mineral resource documentation on one of the Silver Cliff deposits known as the Kate silver resource. Nine holes for a total of 1,502 feet (457.8 metres) were completed as part of the drill program, and this release is reporting values from K16-01, which was the first hole drilled and assayed at ALS Canada Ltd. at its laboratories in Reno, Nev., and Vancouver, B.C.

Assay results for confirmation hole K16-01 drilled at an inclination of minus 60 degrees averaged 1,778 parts per million (also grams per tonne and which equals 57.2 ounces per ton) over 20 feet (6.1 metres) from 60 feet to 80 feet (18.3 metres to 24.4 metres) of core interval.

Each analyzed sample in this interval represented five feet (1.52 metres).

The 50 feet (15.24 metres) of mineralized core from 55 feet to 105 feet (16.76 metres to 32 metres) averaged 837.35 parts per million (26.92 ounces per ton).

The collar of K16-01 is estimated from historic maps and field evidence to be within four feet (1.2 metres) of historical drill hole DDH 73-2, for which reports show 1,927.7 grams per tonne silver over 13.5 metres (62 ounces per ton over 44.29 feet).

Based on core logging, the mineralization is associated with silica which has replaced locally vuggy limestone of a reef comprising fossilized stromatolites. Viscount's technical team attributes the difference in silver values between 2016 drill hole K16-01 and historical drill hole DDH73-2 to the fact that such replacement typically is not uniform. The mineralized siliceous zone intersected by K16-01 is located at a depth from which it could be mined efficiently utilizing open-pit techniques, and, because the reef appears to be nearly flat lying, there is potential for lateral extensions of the mineralization.

Kaare Foy, Viscount's chairman, stated: "We are extremely pleased with the early results of our 2016 drill campaign at Silver Cliff. The high silver values represent a solid starting point toward addressing our primary goal for Silver Cliff which is to confirm the historical mineral resource and then look to enlarge that resource by extending the drill program outside the perimeter of the original resource on which the preliminary economic assessment was done by Tenneco. Today's release represents a solid cornerstone for this mission, and we look forward to reporting further assays from this program as they become available."

Jim Ebisch, Viscount's project manager for the 2016 drill program, further stated: "Even given the fact that there is a historical silver resource and preliminary economic assessment completed for the Silver Cliff project, we believe the region containing, and immediately surrounding, the Kate silver resource is materially underexplored and the historical resource there could be greatly enhanced in the future with just a few strategically placed drill holes.

The 2016 drilling shows that the silver mineralization (blue-grey mineralization) is hosted predominantly by a gently dipping, silicified carbonate reef that formed during a volcanic hiatus.

The Kate silver resource at this juncture appears to be the result of simple carbonate replacement by silica-rich, silver-/lead-/zinc-bearing fluids adjacent to interpreted deep-seated epithermal veins. These carbonate rock systems replaced by silicification-associated resources are commonly found over large lateral extents and the greatest promise for the Kate silver resource may eventually lie in undiscovered stacked horizons, in combination with high-grade epithermal veins that may underlie the Kate silver resource."

Future exploration work at Silver Cliff's Kate silver resource region will depend on the evaluation of the current confirmatory drill program once all of the assay results have been received and interpreted by Viscount's technical team.

About the Silver Cliff Property

The Silver Cliff property lies within the historic Hardscrabble silver district in Colorado. The property consists of 96 lode claims where high-grade silver, gold and base metal production came from numerous mines during the period 1878 to 1894. It is located 44 miles west-southwest of Pueblo, Colo., and has year-round access by paved road. The property underwent substantial exploration between 1967 and 1984. The major explorers were Freeport, Hecla, Homestake, Moly Corp., Coca Mines and Tenneco Minerals.

The Silver Cliff property is interpreted to encompass a large caldera and porphyry system which offers potential to host a number of deposits from both precious metals to base metals. This has been demonstrated in the mineralogy and grade historically extracted from numerous underground mining operations dating back to the late 1800s and early 1900s.

Drilling in the 1980s by Tenneco resulted in a historical prefeasibility study which formed the company's decision to put the property into production. Known historical silver grades range from below detection to a high of 2,125 grams per tonne (68 ounces per ton) silver over 13.4 metres. Known historical gold grades range from below detection to a high of 9.06 grams per tonne (0.29 ounce per ton) gold over 1.2 metres. Plans were halted due to the restructuring of Tenneco after it was sold.

Quality assurance/quality control measures, chain of custody

The company has implemented a quality assurance/quality control program using best industry practices at the Silver Cliff property. Drill core samples are sawn in half lengthwise and one-half is transported in securely sealed bags to the ALS laboratory in Reno, Nev., for analysis. Prior to transport, individual samples are labelled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that are then shipped. The sample pulps and rejects will be retrieved from ALS. All samples were analyzed for silver and 50 other elements by ALS method ultratrace aqua regia ICP-MS, with code ME-MS41. In the case of silver determined by this method to be in excess of 100 parts per million, a further analysis for silver was done utilizing method ore grade aqua regia ICP-AES, with ALS code Ag-OG46. For the three five-foot interval samples from K16-01 containing more than 1,500 parts per million, ALS method silver 30-gram fire assay with gravimetric finish WST-SIM, with code Ag-GRA21, was utilized.

Qualified persons

The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, PEng, 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.

About Viscount Mining

Viscount Mining is an exploration company with a portfolio of gold and silver properties in the western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek comprises more than 9,000 acres, all 100 per cent owned, and includes more than 20 past-producing mines. Silver Cliff in Colorado comprises of 96 lode claims covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.

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