Variscan Mines Limited reported further positive assay results from the completed Phase 2 underground diamond drilling programme at the San Jose Mine, located in Cantabria, northern Spain. The latest set of assay results from Phase 2 underground drilling at the San Jose Mine have: Continued to expand zones of high-grade zinc mineralization in the La Caseta and Los Caracoles trends within the Central Zone; Extended the 168 Trend, now linking it up with the adjacent richly mineralized La Caseta and Los Caracoles trends; and Identified new zones of mineralization in adjacent near-surface mines (Eloisa and El Eucaliptal) stepping out up to 600m from the San Jose Mine, increasing scale potential. Selected drill results from La Caseta & Los Caracoles (Central Zone): DDH NOVDD105: 6.1m @ 15.6% Zn + 0.8% Pb; DDH NOVDDT031: 17.0m @ 5.0% Zn + 0.4% Pb; DDH NOVDDT028: 3.0m @ 19.6% Zn + 2.3% Pb; DDH NOVDDT020: 4.0m @ 10.4% Zn + 1.0% Pb; DDH NOVDDT026: 3.0m @ 9.6% Zn + 1.8% Pb; DDH NOVDDT025: 2.0m @ 12.1% Zn + 1.1% Pb; DDH NOVDDT030: 5.0m @ 4.9% Zn + 0.1% Pb; DDH NOVDDT024: 2.0m @ 10.5% Zn + 0.1% Pb.

Selected drill results from step-out testing of adjacent near-surface mines (Eloisa & El Eucaliptal): DDH EUDDT02: 3.0m @ 5.5% Zn + 0.3% Pb; DDH ELODDT01: 7.0m @ 2.0% Zn + 0.1% Pb; DDH ELODDT01: 3.0m @ 3.7% Zn + 0.0% Pb; DDH EUDDT02: 3.0m @ 1.5% Zn + 0.2% Pb.