Mr. Jim MacKenzie reports

VISCOUNT MINING ADVANCES NEXT PHASE OF EXPLORATION IN COLORADO: EXPANDED WORK PROGRAMS AT THE KATE SILVER RESOURCE AND PASSIFLORA COPPER-GOLD PORPHYRY DEPOSIT

Viscount Mining Corp. has outlined the next stages of exploration at its flagship Silver Cliff project in Custer county, Colorado. Building on a strong technical foundation and recent discovery success, the company is advancing both the Kate Silver Resource (KSR) and the Passiflora porphyry copper-gold deposit with expanded programs designed to grow resources and better focused drill targeting.

Advancing the Kate Silver Resource

The Kate deposit currently hosts a National Instrument 43-101-compliant resource of 10.3 million ounces measured and indicated at an average grade of 72 grams per tonne silver, plus 14.2 million ounces inferred at 52 g/t silver. The upcoming program will integrate surface mapping, geochemical sampling and geophysics to delineate drill targeting. The goal is to expand the existing resource by validating up to 25 million ounces of historical silver estimates and adding these into the compliant framework.

Silver market and critical mineral status

In February, 2025, the U.S. Department of the Interior added silver to its critical minerals list, underscoring the metal's strategic role in electrification, clean energy technologies and national security. This designation comes as silver prices recently surged through the $40 (U.S.)/ounce level, their highest since 2011. Analysts from Bloomberg and Kitco highlight that silver's breakout reflects structural deficits and record demand from solar panels, electric vehicles and grid-scale energy storage.

Based on the most recent National Instrument 43-101 report for the Kate Silver Resource, the project hosts 10.3 million ounces of silver in the measured and indicated category and 14.2 million ounces inferred, at grades of 72 grams per tonne and 52 g/t, respectively. When the study was completed, silver was trading near the $25 (U.S.)/ounce level. With silver now trading above $40 (U.S.)/oz, the conceptual in situ value of the existing compliant resource increases substantially (approximately 60-per-cent uplift), underscoring the potential economic significance of Silver Cliff. While additional engineering and economic studies are required to determine recoverable value, the stronger silver market provides a compelling backdrop for expanding the resource base and advancing the project.

Next steps at the Passiflora copper-gold porphyry deposit

Viscount's recent discovery drilling at the Passiflora target has confirmed the presence of a robust copper-gold porphyry deposit. The company's first deep hole, PF-03A, intersected 843.9 metres of continuous mineralization averaging 0.214 per cent CuEq (copper equivalent), including multiple higher-grade zones such as 189 metres at 0.326 per cent CuEq and 45 metres at 0.417 per cent CuEq. These grades are well above the approximately 0.15 per cent CuEq thresholds commonly reported in early stage porphyry programs that later evolved into world-class, long-life operations. Importantly, mineralization in PF-03A remains open in all directions and at depth, with copper grades strengthening toward the bottom of the hole.

The results clearly establish Passiflora as a copper-gold porphyry deposit, characterized by thick intervals of copper mineralization with significant gold credits and supporting polymetallic values. This geological classification is significant, as porphyry copper-gold deposits are among the largest and longest-lived deposits globally, frequently hosting billions of tonnes of ore.

Building on this discovery the next phase of exploration will focus on reverse circulation drilling to efficiently test two breccia pipes previously mapped by the United States Geological Society, interpreted as vertical conduits that may concentrate higher-grade mineralization. In parallel, Viscount will integrate results from a 598-sample SGS MMI soil survey with induced polarization and resistivity geophysics to refine targeting across the broader porphyry footprint. Permitting for drilling has commenced.

Beyond copper and gold, the company also intends to revisit at the Passiflora the historical 60-million-ounce silver resource reserve calculation by CoCa Resources released in 1983 which indicated at least 64 million ounces silver at 51.9 g/t (not National Instrument 43-101 compliant) stating, "a sustained advance in silver price to the $15 level would make the deposit quite attractive (R. A. Rivera, 1983)." Viscount will apply modern QA/QC (quality assurance/quality control) protocols to assess its potential inclusion in future NI 43-101-compliant estimates.

Viscount Mining believes the combination of a strengthening silver market, critical mineral designation, and dual opportunities at Kate and Passiflora create exceptional growth potential for the Silver Cliff project.

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 (QP) as such term is defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects (NI 43-101).

Technical appendix: exploration methodology

The exploration program will be executed using industry-standard methods and NI 43-101-compliant protocols. Soil sampling grids are designed on a 15 m by 75 m spacing, covering 900 m by 675 m, with assays conducted using SGS's proprietary MMI l technology. QA/QC procedures include certified standards, blanks and field duplicates inserted at a 1:20 frequency. Geophysical work will comprise ground magnetics and induced polarization surveys to map structural controls and identify chargeability highs associated with disseminated sulphides. All data will be securely managed, with oversight by a qualified person to ensure NI 43-101 compliance.

About Viscount Mining Corp.

Viscount Mining 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 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. The Kate deposit currently hosts a NI 43-101-compliant resource of 10.3 million ounces measured and indicated at an average grade of 72 g/t silver, plus 14.2 million ounces inferred at 52 g/t silver. Viscount's recent discovery drilling at the Passiflora target has confirmed the presence of a robust copper-gold porphyry deposit. The company's first deep hole, PF-03A, intersected 843.9 metres of continuous mineralization averaging 0.214 per cent CuEq, including multiple higher-grade zones such as 189 metres at 0.326 per cent CuEq and 45 metres at 0.417 per cent CuEq.

The Cherry Creek property encompasses a district-scale tenure of 219 unpatented and 17 patented claims (plus mill rights) in the historic Cherry Creek mining district of White Pine county, Nevada -- approximately 50 miles north of Ely. This extensive mineralized land package includes more than 20 past-producing mines with proven infrastructure and deep mining heritage. The district has a rich legacy of silver, gold, tungsten (notably from veins and skarns) and associated CRD (carbonate replacement deposit) style mineralization. It also shows strong potential for molybdenum and copper, interpreted to be tied to porphyry-related systems that could underlie the existing vein networks.

Cherry Creek's geology spans multiple styles -- ranging from quartz vein-hosted silver-gold-tungsten veins in carbonate and quartzite formations, to CRD occurrences, jasperoid zones and porphyry-targeted alteration in early Paleozoic marine sediments. The combined geologic complexity and preserved claim block make it one of Nevada's most promising multimetal exploration districts.

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