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Viscount Mining Corp. (TSXV: VML) (OTCQB: VLMGF) ("Viscount" or the "Company") announces drilling at the Kate Silver Deposit ("Kate"), within its 100%-owned Silver Cliff Project in Custer County, Colorado has begun. The Kate Deposit is a robust, near-surface epithermal silver system with multiple priority expansion targets. The 2026 drill program is designed to expand the existing NI 43-101 resource and test high-priority targets that may materially extend mineralization beyond the current model, both laterally and at depth.
Management believes the Kate Deposit represents a significantly underexplored silver system that remains open in multiple directions and at depth, with the potential to support meaningful resource growth as part of an updated NI 43-101 estimate targeted for completion later this year. The Company believes this program represents a key catalyst for redefining the scale of mineralization at Silver Cliff.
Silver Expansion Potential
The Kate Deposit is a shallow, silver-rich epithermal system that hosts the most recent NI 43-101 mineral resource based on US$24/oz silver price. With silver prices now substantially higher than when the resource was estimated, the Company believes there may be potential—pending future drilling and NI 43-101 review—to re-examine cut-off assumptions as part of a future technical update. No new resource estimate or economic analysis has been completed.
The Kate Deposit has historically been the cornerstone of silver mineralization within the district. However, recent drilling, geological reinterpretation, and geophysical analysis suggest that the mineralized system may extend materially beyond the limits of the current resource model.
The 2025 geochemical survey, combined with historical drilling, highlights expansion potential to the north and northeast. Historical drilling by previous operators returned numerous multi-ounce silver intercepts occur along the structural extensions near the Jay Gould breccia pipe, indicating the system remains open.
To the North-West, the Ben West alignment returned historical multi-ounce silver intercepts along a northwest-trending structure, as well as strong surface sample assays. This may represent a separate mineralized center or an extension of the Kate system. These zones collectively define a cluster of high-priority near-surface targets.
Historical drilling by previous operators returned numerous multi-ounce silver intercepts occur along the structural extensions near the Jay Gould breccia pipe, indicating the system remains open.
The Company's most recent NI 43-101 compliant resource at the Kate Deposit comprises approximately 24 million ounces of silver across measured, indicated, and inferred categories. This represents a near-surface, drill-defined system with demonstrated continuity. While this resource establishes a solid base, management believes that it does not yet fully reflect the scale potential of mineralization within the broader Kate Deposit.
The Kate hosts a NI 43-101 completed (April 2023) compliant near-surface silver resource published by an independent QP (details: Measured & Indicated and Inferred silver resources were reported in the Company's technical disclosure; investors are encouraged to review the full technical report available on SEDAR+ for tonnage, grade, and methodology).
2026 Drill Program
Viscount is integrating 2025 soil-geochemistry results with its 2022-2023 drilling data, geologic mapping, historic drill information, and airborne imagery into updated 3D geological models. The 2026 drill program is a 10-hole 1000 metre drill program designed to expand the current mineralized footprint and provide additional data required for a revised NI 43-101 resource later this year.
The upcoming drill program has been strategically designed to both extend known zones of mineralization and test deeper targets interpreted as potential feeder pathways for mineralizing fluids. Recent geochemical work has highlighted several priority targets beneath the Kate area, which may represent key structural controls on the system. Several planned drill holes will test these deeper zones to evaluate whether mineralization strengthens, widens, or evolves.
The Company believes this drill program has the potential to materially enhance the overall scale, continuity, and confidence of mineralization at Silver Cliff, while further demonstrating the presence of a large, district-scale silver system. Management views this program as a critical inflection point in advancing the project toward a more comprehensive understanding of its full potential.
Results from this program are expected to play a significant role in supporting the next stage of resource expansion at the Kate Deposit and will form a key component of the Company's updated NI 43-101 resource later this year.
- Step-out drilling at Kate North and South
- Step-out drilling at Kate Northeast
- Drill testing of the Ben West structural trend.
- Infill drilling within the existing resource envelope Viscount Past Drill Highlights
Throughout six drilling campaigns performed at the Kate, fifty-four drill holes were drilled by Viscount. Of these, twenty-five drill holes presented intervals assaying greater than 110 G/T and ten drill holes displaying intervals assaying over 400 G/T.
Fig 1- KSR Drill Hole Intervals
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Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Harald Hoegberg CPG, 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").
About Viscount Mining (TSXV: VML) (OTCQB: VLMGF)
Viscount Mining Corp. is a project generator and mineral exploration company focused on advancing high-quality silver, gold, and copper assets in the Western United States. The Company's portfolio includes the Silver Cliff silver project in Colorado and the Cherry Creek multi-metal district in Nevada.
Silver Cliff Project — Colorado
Silver Cliff is in the historic Hardscrabble Silver District and comprises 96 lode claims with year-round paved access and established local infrastructure. The project covers a large volcanic caldera system recognized for its silver, gold, and base-metal potential.
- Kate Deposit (Silver Resource Area): The Kate hosts a NI 43-101 compliant near-surface silver resource published by an independent QP (details: Measured & Indicated and Inferred silver resources were reported in the Company's technical disclosure; investors are encouraged to review the full technical report available on SEDAR+ for tonnage, grade, and methodology).
- Passiflora Porphyry Target: Historical and modern drilling indicates extensive hydrothermal alteration consistent with a large porphyry system. Recent drilling by Viscount (hole PF-23-03A) intersected 843.9 metres of continuous Gold-Copper mineralization, which the Company interprets as being on the periphery of a potentially larger intrusive centre. Mineralization remains open in multiple directions.
Cherry Creek Project — Nevada
Cherry Creek covers 219 unpatented and 19 patented claims in a well-known historic mining district approximately 50 miles north of Ely. The property includes more than 20 past-producing mines and hosts several styles of mineralization, including silver-gold veins, carbonate-replacement (CRD) zones, jasperoids, and porphyry-related alteration. The district is 100% controlled by Viscount and is considered highly prospective for multi-metal discoveries within the broader mineralized system.
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
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 includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Viscount Mining's operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. Specifically, this news release contains forward-looking statements with respect to the actual size of the anomaly, feasibility, grade of mineralization and the content of the mineralization. Generally, forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Viscount Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of Viscount Mining's projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future precious metals prices, as well as those factors discussed in the sections relating to risk factors of our business filed in Viscount Mining's required securities filings on SEDARPlus. Although Viscount Mining has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
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