Viscount Mining drilling Kate Silver deposit at Silver Cliff Project, Colorado

Viscount Mining Corp. [TSXV: VML; OTCQB: VLMGF] reported drilling at the Kate Silver deposit, 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.

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 northwest, 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.

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, 1,000-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.

Upcoming work will include step-out drilling at Kate North and South, step-out drilling at Kate Northeast, Drill testing of the Ben West structural trend and infill drilling within the existing resource envelope Viscount Past Drill

Highlights: Throughout six drilling campaigns performed at the Kate, 54 drill holes were drilled by Viscount. Of these, 25 drill holes presented intervals assaying greater than 110 g/t and 10 drill holes displaying intervals assaying over 400 g/t.

Viscount Mining 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 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.

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 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.