VANCOUVER, Canada / ACCESSWIRE / June 17, 2014 / Viscount Mining Corp. (TSX-V: VML) ("Viscount" or "the Company"), a mineral resource exploration company with a portfolio of past producing gold and silver mines and exploration properties in the Western United States, is pleased to announce it has signed an agreement with Sumitomo Corporation of Americas ("SCOA") to conduct an exploration program on the Company's flagship property located in Cherry Creek, Nevada.
The Cherry Creek Property lies within an historic silver district, where high grade silver production came from numerous mines up to the 1920's. This land holding includes the three largest past producing silver mines on the property - the Exchequer/New Century Mine, Ticup and the Star Mine.
The program by SCOA will consist of intensive field sampling and reconnaissance mapping on the Property. Viscount has granted SCOA full access to historical data and locations of previously producing mines.
Mr. Kaare Foy, Chairman of Viscount, comments: "We are very pleased to have SCOA involved in our Cherry Creek project. They are a world class organization and we look forward to working with them to advance the Property".
Technical information in this news release has been approved by Dallas W. Davis, PEng, FEC, an independent consulting geologist and a qualified person as defined in NI 43-101.
Viscount Mining Corp. also announces that it has received subscriptions representing $250,000 in gross proceeds pursuant to a non brokered private placement of common shares of the Company offered at a price of $0.20 per share. The Company may raise additional funds of up to $2 million under the private placement.
The closing of the private placement is subject to approval by the TSX Venture Exchange.
The majority of the proceeds of the placement will be used to fund the continuing development of our exploration program with a portion also going towards general working capital.
About Viscount Mining (TSX-V: VML)
Viscount Mining is a exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising 2,700 acres (the majority of the claims are patented claims), all 100% owned including more than 20 past producing silver and gold 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: 604-960-0535 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.
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to that the program by SCOA will consist of field sampling and reconnaissance that will advance the Property. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
SOURCE: Viscount Mining Corp.