Mr. Jim MacKenzie reports

VISCOUNT MINING COMMENCES DRILLING SIGNIFICANT LARGE GEOPHYSICAL ANOMALY INDICATING POTENTIAL PORPHYRY TYPE DEPOSIT AT SILVER CLIFF, COLORADO

Drilling has commenced on Viscount Mining Corp.'s Passiflora in Silver Cliff, Colo.

During the Viscount drill campaign in 2017 at the Kate silver resource, field reconnaissance noted that areas to the north seemed to exhibit phyllic/argillic alteration. This was confirmed by drilling in this area in 2020 to 2022, and showed anomalous precious and base metal concentrations. The only historic report available on the Passiflora target is one written by R.A. Rivera for Coca Mines in 1983. In this report, Rivera gives a brief history of the exploration efforts, and a reserve calculation for the Passiflora target released indicated at least 64 million ounces silver at 51.9 grams per tonne (not National Instrument 43-101 compliant). It is noted in his report that the deposit was presented as "a set of steeply dipping, NNW striking, tabular mineralized zones" (Rivera, 1983). It is also implied that the deposit could go much deeper as Rivera states that some drill holes presented high assay values at their total depths but they did not test the conductive anomaly at depth as identified by Quantec.

The completed quantum geophysics Titan MT resistive survey undertook by Viscount showed that a strong conductor was present starting at a depth of around 400 metres, and continues to approximately 1.5 kilometres (the lower limit might be somewhat different). Viscount is inaugurating an 8,000-metre drill program starting with drilling a 1,500-metre core exploratory discovery hole to try to determine the nature of this anomaly. The geologic setting, in a caldera, the associated alteration and the presence of Manto deposits make it possible that a porphyry-style deposit may be reason for the geophysical anomaly.

Jim MacKenzie, Viscount chief executive officer, commented: "We are excited to begin our drill program aimed at determining the composition of the very high conductivity source. The volcanic history of the region as a caldera makes it completely reasonable to assume that the Passiflora target could be a porphyry at depth. Quantec Geoscience stated this is one of the lowest resistivity anomalies they have ever seen. The Quantec survey shows that the geophysical footprint has the indication that we are looking at a potentially significantly large mineral system at the Passiflora."

Viscount has drilled a total of six shallow drill holes throughout the Passiflora target, with the deepest hole going 215 metres (705 feet) below the surface. In each of the six holes, evident phyllic alteration and associated metal concentration increases were observed throughout the entire drilled depth. The level of increased alteration displayed, as well as the volcanic history of the region as a caldera, prompted Viscount to further explore the probability of the Passiflora target presenting as a porphyry at depth.

Viscount is also in the process of mapping the coming drill program to continue to advance the Kate deposit.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Harald Hoegberg, PG, an independent consulting geologist, who is a qualified person as such term is defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

The company also announces that it has granted an aggregate of 3.75 million options to directors, officers and consultants of the company with such options being exercisable at an exercise price of 30 cents per common share for a period of five years ending Jan. 22, 2030. The options are granted under the terms and conditions of the company's stock option plan.

About Viscount Mining Corp.

Viscount is a project generator and an exploration company with a portfolio of silver and gold properties in the western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.

The Silver Cliff property in Colorado lies within the historic Hardscrabble silver district in the Wet Mountain Valley, Custer county, south-central Colorado. It is located 44 miles west-southwest of Pueblo, Colo., and has year-around access by paved road. The property consists of 96 lode claims where high-grade silver, gold and base metal production came from numerous mines during the period from 1878 to the early 1900s. The property underwent substantial exploration between 1967 and 1984. The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units, which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Based on the accumulated data and feasibility study, Tenneco Minerals made the decision with silver at $5 (U.S.) an ounce to construct at that time a $35-million (U.S.) milling operation for the extraction of the silver reserves at Silver Cliff. Shortly thereafter, Tenneco's mining unit was sold, and the planned milling operation was abandoned.

The Cherry Creek exploration property is in an area commonly known as the Cherry Creek mining district, located approximately 50 miles north of the town of Ely, White Pine county, in Nevada. Cherry Creek consists of 578 unpatented and 17 patented claims as well as mill rights. Cherry Creek includes more than 20 past-producing mines. In January, 2021, Viscount entered an exploration earn-in agreement with a wholly owned subsidiary of Centerra Gold Inc. Centerra is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide.

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