Viscount Mining Corp. announced the completion of a successful 4 Phase step out drill program at the Kate deposit. The goal of these four phases has been to focus on defining higher grade silver and expansion to the previously defined NI 43-101 Kate Silver Resource (KSR) by Dr. G. Arseneau in April of 2018.

The report titled Mineral Resource Estimate for the Silver Cliff Property, Custer County, Colorado, USA dated April 15, 2018 was prepared by Dr. Gilles Arseneau, Ph.D., P. Geo of Arseneau Consulting Services (‘ACS') in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (‘CIM') Definition Standards incorporated by reference in National Instrument 43-101 (‘NI 43-101'). Tenneco Minerals leased the Kate property in 1987. They had previous drill data available to them, which was the results from 11,930 meters in 249 drill holes that had been done since 1968.

The following two years Tenneco drilled an additional 143 holes totaling 7,949 meters. Based on the accumulated data and feasibility study, Tenneco Minerals made the decision with silver at USD 5.00 an ounce, to construct at that time a USD 35,000,000 milling operation for the extraction of the silver reserves at Silver Cliff as an open pit mine. The primary deposit, Kate Silver Resource (KSR), hosts a historical estimate of 50M oz silver (not NI 43 - 101 compliant).

Shortly thereafter Tenneco's Mining Unit was sold, and the planned milling operation was abandoned. Most of their drill core and written records were stored in a local Tenneco Minerals office which was unfortunately destroyed before Viscount took control of the property. Viscount started the first post-Tenneco drill program in 2016 at the KSR. The intent of this program was to twin some of the historic drill holes that presented the highest-grade intercepts.

After the extraordinary results from this program, ten additional historic holes were twinned in 2017 which was significant because area had been overlooked previously. These two programs of twinned drill holes allowed Dr. Gilles Arseneau to compare Viscount's data and the available historic data more accurately in his 2018 NI43-101 report on the KSR. In the fall of 2020, drilling by Viscount at the Kate resumed. The purpose of the Phase 1 program was to test the limits of the KSR boundary as presented by Arseneau in 2018.

Assay results from holes such as 20- 03, displaying 14.9 m of core testing over 703 G/T, with 1.5 m testing at 3280 G/T, justified the continued investigation the KSR high-grade zone and further define the suspected higher grade zone within the KSR. During the spring of 2021, Phase 2 primarily focused on exploring the south limits of the higher grade zone region of the KSR. Shortly after the completion, soil sampling was conducted over the north-eastern KSR as a supplementary part of the Phase 2 program. Drilling results from Phase 2, such as hole 21-01 showed 18.6 m of core testing over 147 G/T, including 1.5 m testing at 1010 G/T. This helped to better define the KSR higher grade zone, while soil results aided in the guidance of future drilling programs. In the late summer of 2021, Phase 3 focused on the southward expansion of the KSR higher grade zone. Additionally, strong soil sampling anomalies obtained during the previous phase were assessed with drill holes to the northeast and northwest of the previously defined KSR limits.

Positive drilling results from Phase 3 justified the expansion of the higher grade zone to the south and prompted further investigation of the probable northeast ore body expansion. In the spring of 2022 Phase 4 commenced. The sole aim which was to investigate the probability of ore body expansion in various directions.

The expansion holes were positioned primarily to the West and Northeast of the previous boundary, with one location placed in the central KSR gap. Five of the ten bored holes showed a maximum silver concentration of more than 63 G/T with two drill holes having a maximum concentration of more than 130 G/T. These results, combined with the expansion drilling results from phase three, should be expected to expand the KSR ore body at least 50 meters to the West, as well as over 400 meters to the Northeast. Throughout these six drilling campaigns performed at Silver Cliff, 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. Now that all four phases are completed, the company's Independent Geologist is reviewing assays and analyzing the results along with the calculation of the data from the 46 additional holes drilled by Viscount since 2020. These results and selected historic drilling results will be included in an updated NI 43-101.