VANCOUVER, Canada (July 14, 2023) – Viscount Mining Corp. (TSX-V: VML) (OTCQX: VLMGF) (“Viscount” or “the Company”) is pleased to announce the commencement of revenue with the start of the sales of Lux Silver.
Lux Partners has successfully launched its Testnet and is engaged in rigorous production-level testing for its Mainnet deployment. This marks a significant milestone in Lux Partners’ ongoing commitment to drive innovation and efficiency in its operations. As of today, Consumers interested in acquiring the World’s first silver-backed Non-Fungible-Token (NFT) can acquire them at Lux.Market.
Mainnet is a distributed, operational digital network that officially serves as the primary infrastructure for a particular cryptocurrency. Launching a mainnet is a critical milestone for the Silver NFT blockchain project because it signifies the project is ready for public use and real-world transactions.
Zach Kelling, CEO of Lux Partners stated, “We are excited to announce our collaboration with Viscount Mining as the flagship project behind Lux Silver. This partnership is a testament to Lux Partners’ confidence in the value and potential of the Silver Cliff Project. On April 5th, Lux and Viscount Mining entered into a one of kind silver forward sales agreement to add up to 5 million ounces of silver to Lux Market. This will be the World’s first silver-backed Non-Fungible-Token (NFT). Based on today’s price of Silver this agreement has the potential to generate substantial sales revenue for Viscount.”
Jim MacKenzie, CEO of Viscount Mining stated, “We are looking forward to the monetization of our inground assets. We are currently working on innovative ways to bring additional shareholder value. This unique solution will provide non-dilutive capital which will allow us to accelerate the exploration and development of our projects.”
About Lux Partners
Lux Partners is a pioneering private equity firm committed to driving sustainable growth by investing in innovative, high-potential ventures across a diverse range of sectors. With a track record of successful investments, Lux Partners continues to create significant value for its stakeholders through strategic partnerships, rigorous due diligence, and a steadfast commitment to sustainable investment practices.
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 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. 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
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
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 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. The actual sales and velocity of the trading of the NFT remain to be proven. 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.