Mr. Michael Pettingell reports

VIZSLA ROYALTIES ANNOUNCES COMPLETION OF PAYMENT OF ACQUISITION AND AMENDMENT TO COMPENSATION PLAN

Vizsla Royalties Corp. has provided an update regarding its acquisition of an additional 3.0-per-cent net smelter return royalty on certain concessions comprising the Panuco-Copala silver-gold project located in the state of Sinaloa, Mexico. Further to its news release dated June 12, 2025, the funds comprising the purchase price have been released to the vendor, and the transaction is formally complete.

The company has also amended its omnibus equity incentive compensation plan that was originally adopted by the company's board of directors on April 1, 2025, to increase the fixed amount in additional equity that includes performance share units, deferred share units and restricted share units from a maximum issuable of 2,800,589 to a maximum issuable of 5,322,798.

The purpose of the omnibus plan is to: (i) promote a significant alignment between officers, directors and employees of the company and the growth objectives of the company; (ii) associate a portion of participating employees' compensation with the performance of the company over the long term; and (iii) attract, motivate and retain the critical employees to drive the business success of the company.

Pursuant to the terms of the omnibus plan, the company has granted 3,961,850 stock options at an exercise price of $2.35 and 2,522,780 restricted share units to directors, officers, employees and consultants of the company. The options are exercisable for a period of five years and will vest over the next two years, and the RSUs will vest in three equal annual instalments commencing on the first anniversary of the grant date.

The omnibus plan and all issuances granted under the omnibus plan are subject to approval of the TSX Venture Exchange and disinterested shareholder approval. These approvals will be sought at the company's next annual general meeting to be held in third quarter 2025.

About Vizsla Royalties Corp.

Vizsla Royalties is a precious-metal-focused royalty company. The company's principal asset is a net smelter return royalty on Vizsla Silver Corp.'s flagship Panuco project located in Mexico. Panuco is a world-class silver and gold development project actively advancing toward production. A preliminary economic study for Panuco was published in July, 2024, which highlights 15.2 million ounces silver equivalent of annual production over an initial 10.6-year mine life, an after-tax net present value discounted at 5 per cent of $1.1-billion (U.S.), an 86-per-cent internal rate of return, and a nine-month payback at $26 (U.S.) per ounce silver and $1,975 (U.S.) per ounce gold.

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