Mr. Chris Donaldson reports

VIZSLA COPPER ACQUIRES THE COPPERVIEW COPPER-GOLD PROJECT IN SOUTH-CENTRAL BC

Vizsla Copper Corp. has acquired a 100-per-cent interest in the 37,466-hectare Copperview project in the Aspen Grove area of south-central British Columbia. The project is prospective for copper-gold porphyry-related mineralization.

Highlights:

• Potential: The Copperview project is located less than four kilometres north (and along trend) of Kodiak Copper's Gate zone discovery (best drill intersection to date is 535.1 metres at 0.49 per cent copper (Cu), 0.29 gram per tonne (g/t) gold (Au) from 201.9 metres in drill hole MPD-20-04) on the MPD property.
• Prospective geology: Mapping by the British Columbia Geological Survey indicates that prospective Nicola Gp. volcanic rocks extend northward from the MPD project to the Copperview project claims, where they are largely covered by a thin veneer of glacial till.
• Producing mines: The Copperview project is located within a prolific copper, gold and molybdenum mining region of the southern Quesnel terrane, 50 kilometres north of the Copper Mountain mine, 65 kilometres southeast of the Highland Valley mine and 90 kilometres south of the New Afton mine.

"This is an excellent and timely acquisition for Vizsla Copper and is a great example of our strategy of putting our foot on as much prospective copper ground as we can," commented Craig Parry, executive chairman. "Global electrification and a dwindling copper supply story will result in an exciting copper market going forward."

"I'm very pleased to add the Copperview project to the Vizsla Copper fold," commented Steve Blower, vice-president of exploration. "The geology at Kodiak Copper's MPD project is interpreted to extend to the north onto the Copperview project claims. In addition to Woodjam, where our inaugural drilling campaign is set to begin shortly, this is now also a high-priority project for us and exploration will begin this year."

The Copperview project

The Copperview project consists of 37,466 hectares in 40 claims and is being acquired from Donald Rippon, of Mineworks Ventures Inc., pursuant to a purchase agreement dated June 19, 2023. A block of seven claims comprising 9,043 contiguous hectares is considered the highest priority and will likely see significant exploration effort in the near term. This block is considered highly prospective for copper/gold porphyry-related mineralization due to its proximity to the Gate zone at MPD, which is on trend with and less than four kilometres to the south of the Copperview project. Discovered by Kodiak Copper in 2019, drilling at the Gate zone has outlined a large 350-metre-by-one-kilometre-by-900-metre zone of copper/gold porphyry-related mineralization. The best drill intersection to date is 535.1 metres at 0.49 per cent Cu and 0.29 g/t Au from 201.9 metres in drill hole MPD-20-041. The Copperview project claim block is interpreted to be underlain by eastern facies Upper Triassic Nicola volcanics with local coeval intrusions, similar to MPD, and the Copper Mountain and New Afton mines.

Terms of the deal

Pursuant to the terms of the Copperview purchase agreement, the company will issue 600,000 common shares of Vizsla Copper to the vendor, grant him a 2-per-cent net smelter return (NSR) royalty and pay $5,000 cash in exchange for a 100-per-cent interest in the Copperview project. One-half of the NSR may be bought back from the vendor for $3-million. The consideration shares will be subject to a voluntary one-year release schedule such that one-third of the consideration shares will be released every four months after the closing date of the Copperview acquisition. The Copperview acquisition is subject to standard closing conditions, including the approval of the TSX Venture Exchange. Subject to receiving the approval of the TSX-V and the satisfaction of the remaining closing conditions, the Copperview acquisition is expected to close in the coming weeks.

RG Copper Corp. acquisition update

Vizsla Copper is also pleased to provide an update on its previously announced acquisition of RG Copper pursuant to a share exchange agreement dated May 10, 2023.

As disclosed by the company on May 12, 2023, RG Copper has the right to acquire up to a 70-per-cent interest in the Redgold copper-gold project, pursuant to an option agreement entered into with the owners of the Redgold project.

In connection with the RG Copper acquisition, the company, RG Copper and the owners of the Redgold project have amended the terms of the underlying option agreement. Pursuant to the amended terms, RG Copper may acquire up to a 70-per-cent interest in the Redgold project by meeting the following requirements:

• RG Copper must pay $500,000 ($50,000 paid), incur eligible expenditures of $2-million, and issue 400,000 common shares and an additional $400,000 in common shares prior to Oct. 1, 2026, to earn a 51-per-cent interest.
• RG Copper has the option to increase its interest in the Redgold project from 51 per cent to 70 per cent by paying an additional $500,000, incurring an additional $2-million of eligible expenditures and issuing an additional $500,000 in common shares prior to Oct. 1, 2028.
• RG Copper will grant the underlying owners a 2.5-per-cent net smelter royalty (subject to a buydown to 1.0 per cent for $2-million), which will come into effect if and when the underlying owners' collective participating interest in the Redgold project is diluted to less than or equal to 15 per cent.

Any shares issued to the underlying owners pursuant to the underlying option agreement will be subject to a floor price of 17.625 cents per share, resulting in a maximum of 5,106,384 common shares of the company being issued. The company has also agreed to make maximum cash payments of $644,681 to the underlying vendors if the value of the company's common shares is below the floor price on the relevant issuance date.

The RG Copper acquisition remains subject to standard closing conditions, including the approval of the TSX Venture Exchange. Subject to receiving the approval of the TSX-V and the satisfaction of the remaining closing conditions, the RG Copper acquisition is expected to close in the coming weeks.

Additional details regarding the RG Copper acquisition and the Redgold project are set out in the company's news release dated May 12, 2023.

Technical information

See Kodiak Copper's news release dated Sept. 3, 2020, which is available on SEDAR.

About Vizsla Copper Corp.

Vizsla Copper is a copper-gold-molybdenum-focused mineral exploration and development company headquartered in Vancouver, Canada. The company is primarily focused on its flagship Woodjam project, located within the prolific Quesnel terrane, 55 kilometres east of the community of Williams Lake, B.C. It now has four additional copper exploration properties -- Copperview, Redgold, Blueberry and Carruthers Pass -- all well situated among significant infrastructure in British Columbia. The company's growth strategy is focused on the exploration and development of its copper properties within its portfolio in addition to value accretive acquisitions. Vizsla Copper's vision is to be a responsible copper explorer and developer in the stable mining jurisdiction of British Columbia, Canada, and is committed to socially responsible exploration and development, working safely, ethically and with integrity.

Vizsla Copper is a spinout of Vizsla Silver and is backed by Inventa Capital Corp., a premier investment group founded in 2017, with the goal of discovering and funding opportunities in the resource sector. Additional information about the company is available on SEDAR and the company's website.

Qualified person

The company's disclosure of technical or scientific information in this news release has been reviewed and approved by Ian Borg, PGeo, senior geologist for Vizsla Copper. Mr. Borg is a qualified person as defined under the terms of National Instrument 43-101. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Copperview project.

We seek Safe Harbor.