The TSX Venture Exchange has accepted for expedited filing documentation of an option agreement dated Aug. 13, 2014, between Viscount Mining Corp. and David and Debra Knight Living Trust whereby the company may acquire a 100-per-cent interest in mineral claims known as the Silver Cliff property located in Colorado. To exercise the option, Viscount must make cash payments in totalling $3-million (U.S.) over a period of up to 13 years, and issue a total of 200,000 of each of its common shares and common share purchase warrants to the vendor, which securities will be released in equal stages over a four-year period following receipt of exchange approval. The warrants will be exercisable at a price of the greater of 20 cents or the market price at the time of issuance for a period of three years.

At the time of commencement of commercial production on the property, the vendor will be granted an additional 500,000 shares and warrants of the company and will retain a 2-per-cent net smelter returns royalty. The NSR royalty is subject to a buyback right in favour of the company at any time prior to commencement of commercial production on any particular deposit, to repurchase 1 per cent of the NSR royalty from the vendor. The purchase price for such buyback will be an amount equal to the value of 0.5 per cent of all commercially minable, and proven and probable reserves on the subject deposit determined pursuant to a National Instrument 43-101-compliant feasibility study, with the mineral price to be based on the 30-day average price prior to the company giving notice of the intended NSR royalty repurchase.

A finder's fee of up to 500,000 common shares (10,000 shares payable in the first year) is payable to Kingsmere Mining Ltd. (Gary McKay).