Lux Network Commences Sale of Lux Silver Token on Mainnet
PRESS RELEASE February 22, 2024
Lux Network Commences Sale of Lux Silver Token on Mainnet
Vancouver, British Columbia – (February 22, 2024) – Viscount Mining Corp. (TSX-V: VML)
(OTCQB: VLMGF) (“Viscount Mining”)
In a major development for the blockchain and precious metals industries, Lux Network is excited to announce
the launch of Lux Mainnet and the Mainnet Mint of Lux Silver, a pivotal advancement following the highly
successful technical launch on Coinbase's Base Network in 2023. This strategic initiative marks a crucial phase
in Lux’s commitment to revolutionizing the way physical assets are digitized and traded in the global market.
The Lux Mainnet Mint introduces Lux Silver tokens on Lux Network's proprietary blockchain, designed to
provide a quantum-safe, efficient, and transparent platform for the issuance and trading of asset -backed digital
currencies. This move is in line with th e mission to offer innovative financial solutions that meet the needs of
modern investors, providing a secure and user-friendly environment for asset digitization.
This will allow Viscount to benefit from the one -of-a-kind silver forward sales arrangement to add up to 10
million plus ounces of silver to Lux Exchange (“Lux”). This is the World’s first silver -backed Non-Fungible-
Token (NFT). The Silver NFT has started selling on the Lux Market. (Website: https://lux.market)
Jim MacKenzie CEO Viscount Mining stated “The NFT sales provides a non -dilutive capital solution for our
shareholders and we will use the proceeds to advance exploration in Colorado. Viscount has advanced their plans
to drill exploratory holes at the Passiflora to test the mineralization of the anomaly discovered by Quantec
Geoscience. As determined by Quantec the survey shows that the geophysical foot print has the indication that
we are looking at a potentially significantly large mineral system at the Passiflora. The main body of the
conductive anomaly starts at a depth of ~450m and continues another ~1.5km, maybe deeper (this was the extent
of the MT survey depth capability). The length of the anomaly is ~1.4km in the SW -NE direction with a width
of at least 700m and an open interpretation to the untested NW. This represents a total volume of over
665,000,000m3. 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. In addition, we are in the final planning stages of preparing
for a drill program this year at the Kate Deposit in Silver Cliff, Colorado, where we have an NI 43 101 open pit
resource which we expect to expand.”
Zach Keiling, CEO Lux Partners stated: "We at LUX are beyond thrilled to reinforce our investment in our
groundbreaking partnership with Viscount Mining. This partnership not only signals our confidence in Viscount's
capabilities, but also mirrors our shared vision of revolutionizing the mining industry. Through tokenization and
other forward -thinking blockchain applications, we see a future where the traditionally centralized mining
industry becomes democratized, with power restored back into the hands of the people. Our doubled- down
commitment symbolizes an important step on this pioneering journey. Together, we are crafting a roadmap that
envisions a decentralized, transparent, and inclusive mining industry - a seismic shift that promises to redefine
how the world perceives and interacts with the precious metals market."
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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 1992 and is interpreted to encompass a portion of a large caldera and
highly altered sequence of tertiary rhyolitic flows to host deposits with both precious and base metals. This has
been demonstrated in the ore 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 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.
For additional information regarding the above and other corporate information, please visit the
Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim MacKenzie”
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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 tokenization of the Silver. 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
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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-lookin g 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.