Mr. Michael Konnert reports

VIZSLA SILVER INTERCEPTS HIGH-GRADE MINERALIZATION AT NAPOLEON -- 1,085 G/T AGEQ OVER 4.00 METRES

Vizsla Silver Corp. has released results from six 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 90,000-metre resource infill and expansion/discovery-focused drill program.

Highlights:

• NP-22-343 returned 1,085 grams per tonne silver equivalent over four metres true width (mTW) (590 g/t silver, 5.15 g/t gold, 1 per cent lead and 4.39 per cent zinc), including:
  • 3,185 g/t AgEq over 0.98 mTW (2,025 g/t silver, 15.74 g/t gold, 1.71 per cent lead and 5.22 per cent zinc);
  • 863 g/t AgEq over 6.10 mTW (156 g/t silver, 3.63 g/t gold, 7.88 per cent lead and 6.63 per cent zinc), including:
    • 1,899 g/t AgEq over 1.11 mTW (255 g/t silver, 11.69 g/t gold, 19.25 per cent lead and 8.40 per cent zinc);
    • 1,251 g/t AgEq over 1.69 mTW (290 g/t silver, 4.72 g/t gold, 9.26 per cent lead and 10.71 per cent zinc).
• NP-22-344 returned 527 g/t AgEq over 3.05 mTW (157 g/t silver, 2.55 g/t gold, 0.81 per cent lead and 5.08 per cent zinc), including:
  • 705 g/t AgEq over 1.26 mTW (259 g/t silver, 4.88 g/t gold, 0.74 per cent lead and 3.11 per cent zinc).
• NP-23-353 returned 1,401 g/t AgEq over one mTW (532 g/t silver, 8.96 g/t gold, 1.46 per cent lead and 7.13 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 of Napoleon area to over two and a half kilometres along strike, and outlined a resource of 41.3 million ounces AgEq indicated and 28.7 million ounces AgEq inferred. With a local exploration model that continues to be validated through ongoing drilling, and new high-grade results from the hangingwall vein splays that warrant further stepout drilling at depth and along strike, we continue to view the Napoleon area as a primary target for future resource growth and development. Of the seven drill rigs currently turning on the property, infill drilling continues at Napoleon with one rig."

Details of the Napoleon southern extent

Infill and stepout (expansionary) drilling completed to date have led to an improved understanding of the mineralization controls along the Napoleon vein corridor. Observations based on metal zonation and alteration continue to support the interpretation that the corridor is tilted where the southern extent of drilling is at the top of the mineralized horizon (near surface).

Previously reported, high-grade gold assay values near surface support the model (see press releases dated Dec. 16, 2021, and March 29, 2022). Infill drilling assay results disclosed in this news release show additional high-grade silver and gold values on vein splays at the hangingwall of the main Napoleon structure. The vein splays are situated between 25 metres to 120 metres into the hangingwall and typically contain high lead and zinc concentrations in addition to the precious metal values. Results from recent drilling suggest that hangingwall 1 (HW splay 1) forms a cymoid loop with the main Napoleon vein, whereas hangingwall 2 (HW splay 2) comes off and diverges from the main Napoleon vein at depth.

The results indicate the potential for additional high-grade gold and silver at depth and along strike in some hangingwall splays that remain open. Results from hole NP-22-343 warrant follow-up drilling to the north and at depth along hangingwall 2. Vizsla continues working on structural and three-dimensional geologic modelling to design specific drill holes for the exploration of the vein splays (HW splay 2 and HW splay 4).

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 250,000 metres of drilling at Panuco, leading to the discovery of several new, high-grade veins. For 2023, Vizsla has budgeted greater than 90,000 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.