Mr. Michael Konnert reports

VIZSLA SILVER INTERCEPTS HIGH-GRADE ON HANGING-WALL VEIN AT SOUTHERN END OF NAPOLEON

Vizsla Silver Corp. has released results from seven new drill holes targeting the southern extension of the Napoleon vein at its 100-per-cent-owned, flagship Panuco silver-gold project, located in Mexico. The new drill results are centred on the western portion of the district and are a part of Vizsla's continuing 120,000-metre resource expansion/discovery drill program.

Highlights:

• NP-22-320 returned 2,305 grams per tonne silver equivalent over 1.55 metres true width (mTW) (279 g/t silver, 24.01 g/t gold, 1.82 per cent lead and 7.58 per cent zinc), including:
  • 2,631 g/t AgEq over 1.18 mTW (267 g/t silver, 29.1 g/t gold, 1.29 per cent lead and 7.18 per cent zinc).
• NP-22-329 returned 446 g/t AgEq over 6.7 mTW (222 g/t silver, 2.64 g/t gold, 0.34 per cent lead and 1.16 per cent zinc), including:
  • 875 g/t AgEq over 0.78 mTW (668 g/t silver, 2.22 g/t gold, 0.49 per cent lead and 2.28 per cent zinc);
  • 815 g/t AgEq over 0.78 mTW (159 g/t silver, 9.14 g/t gold, 0.08 per cent lead and 0.19 per cent zinc).
• NP-22-333 returned 696 g/t AgEq over 1.5 mTW (378 g/t silver, 2.53 g/t gold, 0.4 per cent lead and 4.29 per cent zinc).

"The Napoleon vein was the first major discovery made by Vizsla at Panuco in 2020," commented Michael Konnert, president and chief executive officer. "We have now expanded the mineralized footprint to over two and a half kilometres long and outlined an initial Napoleon area resource of 36 million ounces AgEq indicated and 17 million ounces AgEq inferred. With a local exploration model that continues to be validated through ongoing drilling, and new high-grade results from the footwall and hangingwall vein splays not included in the initial March, 2022, resource, we continue to view the Napoleon area as a primary target for future resource growth and development. Of the nine drill rigs currently turning on the property, expansion/conversion drilling continues at Napoleon with two rigs, including one direction rig."

Details of the Napoleon southern extent

Infill and stepout (expansionary) drilling completed to date has led to an improved understanding on the controls to mineralization along the Napoleon vein corridor. Observations based on metal zonation and alteration continue to suggest the corridor has been tilted, with the southern extent being at the top of the mineralized horizon, near surface.

Previously reported high-grade gold values closer to surface support the model (see press releases dated Dec. 16, 2021, and March 29, 2022), while results disclosed in this news release show additional high precious metal grades on vein splays at the hangingwall and footwall of the main Napoleon structure. The vein splays are situated between 25 metres to 70 metres into the hangingwall and footwall, respectively, and merge with the main Napoleon vein at depth. Results from recent drilling suggest the hangingwall splay forms a cymoid loop with the main Napoleon vein.

Deeper directional drilling in hole NP-22-320 intersected the main Napoleon vein and the footwall splay with high base metal concentrations and relatively low precious metals, as predicted by the model. Directional drilling continues at the southern end of Napoleon, testing both the main Napoleon structure and its vein splays to depth within the precious-metal-rich horizon.

These results serve to: (i) further demonstrate the continuity of high-grade silver and gold mineralization along the southern extent of the main Napoleon vein, outside of the March, 2022, mineral resource boundary; and (ii) support the continuing exploration potential of the hangingwall and footwall vein splays. Vizsla has completed structural and three-dimensional geologic modelling of the vein splays and plans to further drill stepout holes specifically designed to test mineral continuity along strike and to depth.

About Vizsla Silver Corp.

Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, B.C., and focused on advancing its flagship, 100-per-cent-owned Panuco silver-gold project, located in Sinaloa, Mexico. To date, Vizsla has completed over 210,000 metres of drilling at Panuco, leading to the discovery of several new, high-grade veins. For 2022, Vizsla has budgeted greater than 120,000 metres of resource-based/discovery-based drilling, designed to upgrade and expand the maiden resource, as well as test other high-priority targets across the district.

Quality assurance/quality control

Drill core and rock samples were shipped to ALS Ltd. in Zacatecas, Mexico, for sample preparation and in North Vancouver, Canada, for analysis. The ALS Zacatecas and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Silver and base metals were analyzed using a four-acid digestion with an ICP finish, and gold was assayed by 30-gram fire assay with atomic absorption spectroscopy finish. Overlimit analyses for silver, lead and zinc were reassayed using an ore-grade four-acid digestion with AA finish.

Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the company's quality assurance/quality control protocol.

Qualified person

In accordance with National Instrument 43-101, Martin Dupuis, PGeo, chief operating officer, the qualified person for the company, has reviewed and approved the technical and scientific content of this news release.

We seek Safe Harbor.