VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 6, 2017) - Viscount Mining Corp. (TSX VENTURE:VML)(OTCQB:VLMGF) ("Viscount" or "the Company"), as a result of a review by the British Columbia Securities Commission (the "BCSC"), the Company is issuing the following to clarify our disclosures in news releases dated April 25th, July 6th, August 10th, September 13th, and November 16, 2016.
The news releases on April 25th, July 6th, September 13th, and November 16, 2015 concerning the Silver Cliff Property in Colorado did not express the exploration target as a range of potential quantity and grade as specified in Section 2.3 (2) of NI 43-101 and did not state the basis on which the disclosed potential quantity and grade were determined because the Company has relied on secondary reports and has not had access to original documentation on drilling, chemical analyses and related calculations on which the secondary reports have been assumed to be based. The Company thus retracts any reference to quantity and grade targeted by its exploration drilling.
In a news release dated November 16, 2016, the Kate Deposit on the Silver Cliff Property was characterized as a "polymetallic resource" with the word "historical" inadvertently omitted. The Company wishes to clarify that no current resource estimate is possible nor has been made because of the limited number of drill holes under the program on which the news release reported commencement. A September 13, 2016 news release on the subject property used a term not defined in NI 43-101, namely "mineral inventories", in referencing mineralization cited in historical documents.
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, 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 ("NI 43-101").
About Viscount Mining (TSX VENTURE:VML)(OTCQB:VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
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
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.
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.