Mr. Jim MacKenzie reports

VISCOUNT PROVIDES ADDITIONAL INTERPRETATION OF DRILL HOLE K26-08, AND ADVANCING HIGH-PRIORITY KATE-PASSIFLORA TREND TARGET AT SILVER CLIFF

Viscount Mining Corp. is providing an additional technical interpretation of drill hole K26-08 at its Silver Cliff project in Custer county, Colorado, and reporting silver-equivalent (AgEq) values for the previously disclosed K26-08 mineralized intervals. Complete assay results from the company's 10-hole 2026 program were reported on Sept. 22, 2026. This update focuses on the combined precious-metal grade and geological significance of K26-08 within the corridor between the near-surface Kate Silver Resource (KSR) and the deeper Passiflora porphyry target.

"K26-08 is significant because the 15 g/t silver evaluation reveals a broader high-grade precious-metal interval, not just a narrow high-grade core. 13.4 metres at approximately 381 g/t AgEq contains 7.9 metres at approximately 665 g/t AgEq, while the entire 184.1 metres (604 ft) remains silver enriched. Combined with the alteration and geochemical vectors observed in the hole, and its location approximately one kilometre from the current Kate resource, K26-08 gives us a clear target for systematic offset drilling. We are not assuming continuity to Passiflora, but the result materially strengthens the case for testing this trend," said Christina Ricks, BSc, project geologist.

Highlights

• Broader high-grade precious-metal interval. Using the 15 g/t silver cut-off reported on Sept. 22, 2026, K26-08 returned 13.4 metres (44 feet) averaging 267.6 g/t silver. Review of the combined assay data indicates the same interval averages approximately 1.72 g/t gold, for approximately 381 g/t AgEq.
• Higher-grade core. Within the 13.4-metre interval, 7.9 metres (26 ft) graded 473.2 g/t silver and 2.92 g/t gold, equivalent to approximately 665 g/t AgEq.
• Exceptional internal zones. The 7.9-metre core includes 1.8 metres (six ft) grading 675 g/t silver and 10.20 g/t gold, or approximately 1,347 g/t AgEq, and 1.5 metres (five ft) grading 1,030 g/t silver and 1.65 g/t gold, or approximately 1,139 g/t AgEq.
• Broad precious-metal enrichment. The entire 184.1 metre (604 ft) assayed hole averaged 21.8 g/t silver and approximately 0.131 g/t gold, equivalent to approximately 30.4 g/t AgEq. The company considers this important because the high-grade precious metal interval occurs within a much broader precious-metal-enriched hole rather than as an isolated assay interval.
• Base metals remain a factor but not an AgEq factor. Copper, lead, zinc, cadmium and manganese are not included in the AgEq calculation. Their anomalous distribution is discussed separately as part of the geological and geochemical interpretation.

Geological significance of K26-08 and Ben West volcanic complex

K26-08 was drilled in the southern part of the Ben West volcanic complex and encountered sulphide-rich brecciation together with a changing metal association that differs from the near-surface Kate silver system. Optical petrography of thin sections identified phyllic alteration, with the deepest section showing pervasive potassic alteration.

The combined assay data set also shows anomalous zinc together with elevated lead and cadmium across portions of the hole, particularly from approximately 75 metres to the end of the hole at 184.1 metres. These base-metal and pathfinder elements are not included in the AgEq calculation. The company considers the combination of high-grade silver-gold mineralization, broad silver enrichment, alteration mineralogy and multielement geochemistry to provide several independent vectors for follow-up drilling.

Relationship to Passiflora

Passiflora is a deeper copper-gold porphyry target north of Kate. Viscount's first deep Passiflora hole, PF-03A, intersected 843.9 metres of continuous copper-gold mineralization averaging 0.214 per cent CuEq (copper equivalent), as previously reported by the company on Aug. 14, 2025. K26-08 lies within the broader area between Kate and Passiflora, and contains alteration and geochemical characteristics that the company considers relevant to its porphyry-related exploration model.

K26-08 does not demonstrate that the Kate and Passiflora form one continuous mineralized body. Its significance is that it establishes a separate assay-confirmed high-grade silver-gold target in the trend and provides specific geological and geochemical correlations for testing with follow-up drilling.

Integration of historic mapping, and structural interpretation, has led the company's technical team to interpret the Ben West Volcano (BWV) as a possible central intrusive centre within the Silver Cliff and Rosarita caldera metallogenic province. More than 100 structures and faults have been mapped within the project area, and more than 22 historic mine shafts and surface workings are located within and around the BWV.

Historic workings appear to be concentrated outboard of the BWV centre, along three structural trends: (i) an outer western rim structure set, adjacent to the Passiflora target; (ii) a prominent north-south structure connecting the Kate deposit area with the southern rim of the BWV; and (iii) radial structures to the east of the BWV. Holes K26-05/06 and K26-07/08 were collared along the north-south trend north of the Kate deposit. The company intends to use this framework to prioritize targets for its planned follow-up drilling.

Why K26-08 matters

The Sept. 22 release established that silver mineralization extends beyond the current Kate resource envelope and that broader intervals are highlighted when the 2026 drilling is evaluated using a 15 g/t silver cut-off. K26-08 adds a distinct discovery component to that program: a high-grade silver-gold interval approximately one kilometre from the KSR within the broader structural trend toward the Passiflora discovery hole. The result stands out on two counts at once -- grade, with a 665 g/t AgEq core sitting inside a 184.1-metre (604 ft) hole that itself averages approximately 30.4 g/t AgEq, rather than as an isolated high-grade streak, and location, in ground beyond the current Kate resource boundary that the company had not previously tested.

Silver-equivalent (AgEq) calculation

Viscount has followed the same general equivalent-grade disclosure format used in the company's Aug. 14, 2025, Passiflora press release, adapted here to use silver as the base metal, and restricted to the two precious metals, silver and gold.

Assumptions for silver equivalent g/t calculations

Metal prices -- Sept. 22, 2026, reference prices: $65.68 (U.S.)/silver ounce; $4,325.03 (U.S.)/gold oz

Recovery rates: For equivalency purposes, 100-per-cent recovery is assumed for both silver and gold. Metallurgical testing sufficient to establish actual recoveries for K26-08 has not yet been completed.

Formula used: AgEq (g/t) equals Ag (g/t) plus [Au (g/t) multiplied by (Au price multiplied by Au recovery)/(Ag price multiplied by Ag recovery)]

Whole-hole averages: The 184.1 m whole-hole silver, gold and AgEq averages are calculated on the same basis used for the previously reported 21.8 g/t Ag whole-hole average.

The calculation includes silver and gold only. Copper, lead, zinc, manganese, cadmium and other elements are excluded from AgEq. The metal prices above are Sept. 22, 2026, reference prices. AgEq is presented for comparative exploration purposes only, and does not represent recoverable metal, revenue or economic value.

Exploration implications and next steps

• Offset K26-08 to test the lateral and vertical continuity of the 13.4-metre precious metal zone and the 7.9-metre higher-grade core;
• Test the broader silver envelope to determine whether whole-hole silver enrichment reflects multiple mineralized structures, a broader disseminated halo or a combination of both;
• Integrate the K26-08 assays with alteration mineralogy, multielement geochemistry, soil sampling, mapping and existing geophysical data to refine drill vectors toward the northern corridor;
• Prioritize K26-08 offsets within the company's planned follow-up drilling while maintaining separate Kate resource-expansion and northern discovery objectives.

Interpretation and limitations

There has been insufficient drilling to establish continuity between Kate, K26-08 and Passiflora, or to determine the width, geometry or extent of the K26-08 mineralized zone. All reported intervals are downhole core lengths; true widths have not been determined. The AgEq values are calculated equivalents based on the stated metal prices and assumed recoveries and should not be interpreted as demonstrated economic value. The 2026 results do not constitute an increase in the current Kate mineral resource.

Analytical and QA/QC information

The assay and composite results discussed in this release are derived from the same 2026 drill program and analytical data set reported by the company on Sept. 22, 2026. Core sampling, chain of custody, laboratory analytical procedures and QA/QC protocols were described in that release. The broader 13.4-metre K26-08 interval is defined using the 15 g/t silver cut-off applied by the company to the 2026 drill evaluation.

Qualified person

The scientific and technical information contained in this news release, including the use of a 15 g/t silver cut-off for the 2026 drill result composites, has been reviewed and approved by Harald Hoegberg, CPG, 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. On-site geological logging and field supervision of the 2026 program was conducted by Christina Ricks, project geologist. Composite intervals presented in this news release are downhole core lengths; true widths have not been determined. Readers are cautioned that mineralization intersected in drill core may not be representative of the deposit as a whole. The 15 g/t silver cut-off used to evaluate and report the 2026 drilling has not yet been incorporated into an updated Kate mineral resource estimate. The current April, 2023, resource remains unchanged. The 2026 stepout results demonstrate mineralization beyond the current resource boundary but do not, by themselves, establish an increase in the Kate mineral resource. Any resource expansion will require sufficient follow-up drilling, resource modelling and preparation of an updated mineral resource estimate by a qualified person. Historic and current drill results are not necessarily indicative of mineralization that may be encountered elsewhere on the property.

About Viscount Mining Corp.

Viscount Mining is a mineral exploration company focused on advancing silver, gold and copper projects in the Western United States. The company's portfolio includes the Silver Cliff project in Colorado, which hosts the National Instrument 43-101 Kate Silver Resource and the Passiflora copper-gold porphyry target, and the 100-per-cent-controlled Cherry Creek project in Nevada, a historic multimetal district with more than 20 past-producing mines.

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