Viscount Mining Announces Closing of Over Subscribed Non - Brokered Private Placement - Seite 2

The Silver Cliff project consists of 96 contiguous patented and unpatented lode claims encompassing approximately 900 hectares in the Hardscrabble Silver District, Custer County, south-central Colorado. The project lies immediately north of the town of Silver Cliff and Westcliffe and is 50 kilometers south of Canon  City, 88 kilometers west-southwest of Pueblo and 225 kilometers south of Denver.

• The Kate Silver Resource (the “KSR”) has been extensively drilled since the 1960’s, and is one of four known historic silver deposits on the Silver Cliff property. The KSR underlies approximately 36 hectares or 4% of the 900 hectares at Silver Cliff which Viscount controls.
   
• The initial KSR silver resource estimate for Viscount was prepared in April 2018 by Gilles Arseneau, Ph.D., P. Geo., of Arseneau Consulting Services (“ACS”) in accordance with CIM standards incorporated by reference in National Instrument 43-101 (“NI 43-101”) using results from 19 cored HQ holes drilled in two phases in 2016 and 2017 plus results from historic holes verified by the 2016-17 programs as assessed by ACS.

Many of the historic holes had been drilled for Tenneco Minerals at the KSR between 1987 and 1990, following which the company completed a feasibility study for open pit mining of silver and announced plans to construct a $35,000,000 milling operation at Silver Cliff. Shortly thereafter, the parent company, Tenneco was sold and the new owners decided to divest their mineral interests and the decision was reversed in 1991.

Of Viscount’s two drilling campaigns on the KSR/Kate deposit, nine holes totalling 455.2 metres were drilled in 2016 and ten additional holes totalling 912.1 metres were drilled in October of 2017. The drilling programs were primarily aimed at verifying the historical drill results. The best intersections from the 2016 and 2017 drilling according to ACS are:

Hole #	From (m)	To (m)	Interval (m)	Ag (g/t)
K16-01 Including Including	18.29 18.29 24.38	32.00 24.38 28.04	13.71 6.09 3.66	924.0 1,768.0 427.0
K16-03 Including	17.37 24.99	34.14 34.14	16.76 9.14	141.5