Viscount Closes Non-Brokered Private Placement
VISCOUNT CLOSES NON-BROKERED PRIVATE PLACEMENT
PRESS RELEASE August 28, 2017
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount”
or the “Company”) is pleased to announce the completion of a Non Brokered Private Placement raising
gross proceeds of $1,250,000 from the issuance and sale of 5,000,000 Units at a price of $0.250 per Unit.
Each Unit consists of one (1) common share (“Common Share”) of the Company and one (1) share
purchase warrant (“Warrant”). No new insiders were created, nor any change of control occurred, as a
result of this Private Placement.
Each Warrant will entitle the holder thereof to purchase one additional common share of the Issuer (a
“Warrant Share”) for a period of 1 year from the Closing Date at an exercise price of $0.35 per Warrant
Share. The Issuer has the right to accelerate the expiry date of the Warrants in the event that the Shares
trade on a recognized exchange at more than $0.50 for a 15 day period, which can include days where no
Shares trade.
Finder fees were paid totaling $29,575.00 cash and 84,500 broker warrants which will have the same
terms and conditions as unit warrants.
The Company intends to use the net proceeds of the Private Placement for a Phase 2 Drill Program to
further advance its 100%-owned Silver Cliff property in Colorado as well as for general working capital.
This follows the successful Phase 1 Drill Program from last fall, 2016. Since then Viscount has acquired
significant additional historical records from various sources that aided recently-completed surface
sampling, geologic mapping, geophysics, geochemistry work. Viscount’s primary goal is to confirm the
historical geological work and resource estimates to substantiate the value of Silver Cliff.
Kaare Foy, Chairman commented, “We are very pleased with the confidence of key investors and their
support of the Company as we continue to develop our two key projects at Silver Cliff, Colorado and
Cherry Creek, Nevada.”
The table below displays summary data for Viscount’s 2016 “K” series of 2.5-inch diameter holes (HQ
core) along with available data for the historic holes which were twinned. Although rock units dip or
slope at 2° to 5° toward the east-southeast as noted under the heading "Silver Cliff Geology", the present
interpretation is that silver-bearing mineralization and silica have replaced portions of a porous limestone
reef unit. Such replacement is typically uneven rather than uniformly tabular. Because of this true widths
are not estimated.
Phase 1 Drilling Assay Results
2016 DDH Results Compared With Holes Twinned
Hole # From (ft.) To (ft.) Dip (°) Length (ft.) oz/t g/t Easting (m) Northing (m)
73-2-CC 54 98 -60 44 67.70 2105.7 460455 4221740
88-1 65 95 -60 30 16.30 507.0
K16-01 55 105 -60 50 26.92 837.4 460455 4221739
including 60 92 32 40.87 1271.1
including 60 80 20 57.18 1778.5
89-27 80 140 -90 60 7.00 217.7 460605 4221831
K16-03 57 112 -90 55 4.55 141.5 460604 4221829
including 82 112 30 7.49 233.0
89-26 50 120 -90 70 5.90 183.5 460575 4221830
K16-04 51 121 -90 70 5.74 178.5 460578 4221827
including 61 121 60 6.54 203.4
including 76 121 45 8.06 250.7
89-53 70 115 -60 45 8.30 258.2 460420 4221650
K16-05 65 110 -60 45 12.57 390.9 460420 4221654
88-2 90 120 -60 30 7.90 245.7 460483 4221830
K16-06 65 130 -60 65 1.05 32.8 460484 4221744
including 100 120 20 1.72 53.6
88-59 75 115 -60 40 4.20 130.6 460451 4221650
K16-07 47 152 -60 105 2.56 79.7 460452 4221650
including 72 137 65 3.94 122.6
including 77 137 60 4.21 131.1
including 92 117 25 8.13 252.8
88-36 115 170 -60 55 4.32 134.4 460513 4221711
K16-08 105 173 -60 68 7.35 228.6 460512 4221710
including 115 173 58 8.55 265.9
88-40 110 135 -60 25 2.99 93.0 460543 4221801
K16-09 85 135 -60 50 4.39 136.5 460542 4221799
including 110 135 25 7.11 221.0
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody
The Company has implemented a QA/QC program using best industry practices at the Silver Cliff
Property. Drill core samples are sawn in half lengthwise and one half transported in securely-sealed bags
to the ALS Canada Ltd. laboratory in Reno, Nevada and Vancouver, BC, for analysis. Prior to transport,
individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then
placed into durable rice bags that are then shipped. The sample pulps and rejects will be retrieved from
ALS. All samples were analyzed for Ag and 50 other elements by ALS method "Ultra Trace Aqua Regia
ICP-MS" with code ME-MS41. In the case of Ag determined by this method to be in excess of 100 ppm,
a further analysis for Ag was done utilizing method "Ore Grade Aqua Regia ICP-AES" with ALS code
Ag-OG46. For the three 5-ft interval samples from K16-01 containing more than 1,500 ppm Ag, the ALS
method "Ag 30g FA - GRAV finish WST-SIM" with code Ag- GRA21 was utilized.
About the Silver Cliff Property
The Silver Cliff property lies within the historic Hardscrabble Silver District in Colorado. 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. It is located 44 miles WSW of Pueblo, Colorado, and
has year-around access by paved road. The property underwent substantial exploration between 1967 and
1984. The major explorers were Freeport, Hecla, Homestake, Moly Corp, Coca Mines and Tenneco
Minerals.
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. Drilling in the 1980s by Tenneco resulted in a
historical pre-feasibility study which formed the company's decision to put the property into production.
Plans were halted due to the restructuring of Tenneco after it was sold.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed by Dallas W.
Davis, P. Eng., FEC., an independent consulting geologist who i s a "Qualified Person" 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) (OTCQB: 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 2,029 acres 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 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. Drilling in the 1980s by Tenneco resulted in a
historical pre-feasibility study which formed the company's decision to put the property into production.
Plans were halted due to the restructuring of Tenneco after it was sold. Other companies exploring here
besides Tenneco Minerals have included: Freeport, Hecla, Homestake, Moly Corp, Coca Mines and
Tenneco Minerals. In January 2017, Viscount Mining reported additional high grade silver intersections
from the drill program completed in December 2016.
The Cherry Creek Property is focused on exploration in the immediate vicinity of an area commonly
known as the Cherry Creek Mining District, located approximately 30 miles north of the town of Ely, in
White Pine County, Nevada. Cherry Creek consists of over 400 unpatented and patented claims as well
as mill rights, and is comprised of more than 8,000 acres. Cherry Creek includes more than 20 past
producing mines including Blue Bird, Chance Mine, Filmore, Last Chance, Exchequer/ New Century
Mine, Ticup and Motherlode mines.
For additional information regarding the above noted property 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
Phone: 1 844 863 3622
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 contains certain statements that may be deemed "forward-looking" statements. Forward looking
statements are statements that are not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions,
or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp.
believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may differ materially from those in forward-
looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Viscount Mining
Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp.
undertakes no obligation to update these forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
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