Viscount Mining Reports Additional High Grade Silver Intersections

Drill Hole K16-01 assayed 1,778.5 g/t (57.2 oz/t) silver over a
20-ft. (6.1m) interval within a 50 ft. (15.2m) mineralized intersection
averaging 837.4 g/t (26.9 oz/t)

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jan. 19, 2017) – Viscount Mining Corp. (TSX VENTURE:VML)(OTCQB:VLMGF)(“Viscount” or “the Company”),
is pleased to announce further drill results from the Silver Cliff
property in the Hardscrabble Silver District of Custer County, Colorado
(the “Property”). The 2016 drill program commenced in
mid-November had as its primary objective the confirmation of
information in reports on historical drilling on one of the Silver Cliff
deposits known as the Kate Silver Resource (the “KSR”) by twinning historic holes.

Nine holes with a total of 1,502 ft. (457.8 m) were completed
in the recent campaign and this release is reporting values from
K16-01, K16-03, K16-04, K16-05, K16-06, and K16-08 from which core was
assayed at ALS Canada Ltd., at their laboratories in Reno, Nevada, and
Vancouver, BC. In the case of K16-08, core sampling and, hence, assaying
inadvertently stopped at 173 feet (52.7 m), only 3 feet (0.9 m) past
the historical intersection of silver mineralization. Viscount will
extend the sampling of this hole when the next phase of work commences.

A summary of drill intersections for which assays have been
received to date is presented below. The hole collars lie within a
northeast trending corridor that is 833 ft. (254m) from K16-05 to
K16-03. Holes K16-03 and -04 were drilled at -90° (vertical) and the
others toward north at -60° to the horizontal. 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 and the early stage of drilling,
true widths are not estimated.

Kaare Foy, Viscount Chairman stated: “We are very pleased
with the drill program conducted in 2016 as it has demonstrated that
there is significant silver mineralization that occurs at a shallow
depth between 50 ft. (15.2m) to about 175 ft. (53.3m) that may be
amenable to open pit mining. More drilling and a prefeasibility report
will need to be done before an economic evaluation can be made. These
results have prompted the Company to consider doing additional mapping,
possible geophysical surveys and more strategically placed drill holes
to outline the shape, dimensions, and potential grade. Once this is
completed and if warranted by the results, a prefeasibility study will
be considered that will include extensive metallurgical studies, mining
methods, and costs.”

Silver Cliff Geology

The following information has been obtained from historical reports that describe the Kate silver prospect.

Structure in the area appears quite simple. Dips are to the
east-southeast at 2° to 5°. Faulting is not obvious on the surface and a
contour map of the surface of the lower obsidian suggest that no faults
with more than 50 feet of displacement occur within the area of the
Kate mineralization. Examination of PQ wireline core drilled in 1989 for
a metallurgical sample, indicate; however, that faults with minor
displacement are numerous.

Jim Ebisch reiterated what he stated in the December 21^st
news release, namely that “The 2016 drilling shows that the silver
mineralization (blue-grey mineralization) is hosted predominantly by a
gently-dipping, silicified carbonate reef that formed during a volcanic
hiatus. The Kate Silver Resource (the “KSR”) at this juncture appears to
be the result of simple carbonate replacement by silica-rich,
silver/lead/zinc-bearing fluids adjacent to interpreted deep seated
epithermal veins. These carbonate rock systems replaced by
silicification-associated resources are commonly found over large
lateral extents and the greatest promise for the KSR may eventually lie
in undiscovered stacked horizons, in combination with high-grade
epithermal veins that may underlie the KSR.”

About 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 1894. 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 Silver Cliff Property is interpreted to encompass a large
caldera and porphyry system which offers potential to host a number of
deposits from both precious metals to base metals. This has been
demonstrated in the mineralogy and grade historically extracted from
numerous underground mining operations dating back to the late 1800s and
early 1900s.

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. Reported historical silver grades range from
below detection to a high of 2,125 g/t (68 o/t) Ag over 13.4 metres.
Reported historical gold grades range from below detection to a high of
9.06 g/t (0.29 o/t) Au over 1.2 metres. Plans were halted due to the
restructuring of Tenneco after it was sold.

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 laboratory in Reno, Nevada, 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.

Qualified Persons

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.

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.

Contact Information

Viscount Investor Relations
604-960-0535
[email protected]