VANCOUVER, Canada, February 13, 2023 – Viscount Mining Corp. (TSX-V: VML) (OTCQX: VLMGF) (“Viscount” or “the Company”) and our partner, a wholly owned subsidiary of Centerra Gold Inc. (“Centerra” TSX: CG and NYSE: CGAU) are pleased to announce the signing of an agreement to acquire the Mary Anne group of patented claims located adjacent to the 100% controlled Cherry Creek Project in eastern White Pine County, Nevada. The agreement was signed with Southwest Land and Minerals Corp. of Reno, Nevada).
The property is comprised of 24 patented claims commonly known as the Mary Anne claim group. The claims overlie the historic Mary Anne mine (production unknown). Please refer to the map below for the location of these claims.
Mary Anne Patented Claim Group
The mines were principally base metal sulfide plus silver/gold producers. Ore was developed on a mineralized quartz vein system at or near the contact between the Prospect Mountain Quartzite and the Cherry Creek Quartz Monzonite. The vein system is dominated by silver mineralization accompanied by values in copper, lead and gold. There are no current estimates of remaining reserve potential.
Mark Abrams Viscount VP of Exploration stated: “These additional patented claims are an important addition to our district play at Cherry Creek. Non-compliant historic sampling suggests mineralization may extend from the mined veins into the quartz monzonite wall rock. This presents the potential for bulk tonnage mineralization in addition to vein targets in the area of the historic mines. The property history is quite unique in that both Presidents Roosevelt and Taft signed the patent documents for some of the claims.”
The Company is also pleased to announce the appointment of Scott Davis CPA, CGA, as our new CFO. Mr. Davis is a partner of Vancouver-based Cross Davis & Company LLP Chartered Professional Accountants. The firm is focused on providing accounting and management services for publicly-listed companies. Mr. Davis has extensive accounting and finance experience dealing with the complexities of both private and public corporations in a variety of industries.
Derick Sinclair, Viscount’s CFO since inception is retiring but will take an advisory role position with the company. Jim MacKenzie, Viscount CEO stated” the Board of Viscount would like to thank Derick for his valuable contribution to the company and we wish him well in his retirement. We also welcome Scott to our management team and look forward to working with him.”
William MacDonald is stepping down from the company’s board of directors. The Board of Viscount thanks Mr. McDonald for his guidance and service and looks forward to him continuing his contributions as a member of Viscount’s advisory board.
This News Release was prepared by M.J. Abrams CPG #11451. M.J. Abrams is a Qualified Person as defined by NI 43-101. The scientific and technical disclosure included in this news release was 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").
About Viscount Mining (TSX VENTURE: VML) (OTCQX: VLMGF)
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 WSW of Pueblo, Colorado, 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 1900’s. The property underwent substantial exploration between 1967 and 1984. The property is interpreted to encompass a portion of a large caldera and a highly altered sequence of tertiary rhyolitic flows and fragmental units which offers the 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 $5.00 USD an ounce to construct at that time a $35,000,000 USD 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, Nevada. Cherry Creek consists of 578 unpatented and 41 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, Türkiye, and other markets worldwide.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
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This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Viscount Mining’s operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. Specifically, this news release contains forward looking statements with respect to the Offering, the receipt of required approvals, the timing of thereof and the amount and use of proceeds therefrom. Generally, forward-looking statements can be identified by the forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “projects”, “intends”, “anticipates”, or “does not anticipate”, or “believes”, or “variations of such words and phrases or state that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Viscount Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of Viscount Mining’s projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future precious metals prices, as well as those factors discussed in the sections relating to risk factors of our business filed in Viscount Mining’s required securities filings on SEDAR. Although Viscount Mining has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Viscount Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
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