Mr. Michael Konnert reports

VIZSLA SILVER REPORTS ADDITIONAL HIGH-GRADE INTERCEPTS ON THE COPALA AND COPALA 2 STRUCTURES

Vizsla Silver Corp. has released new drill results from 20 expansion holes targeting the Copala resource area at its 100-per-cent-owned, flagship Panuco silver-gold project, located in Mexico. The reported results expand the Copala mineralized footprint laterally by approximately 370 metres to the southeast and approximately 50 m to the north.

Highlights:

• CS-23-297 returned 445 grams per tonne silver equivalent over 18.50 metres true width (mTW) (310 g/t silver and 2.32 g/t gold).
• CS-23-290 returned 760 g/t AgEq over 5.05 mTW (565 g/t silver and 3.48 g/t gold):
  • Including 3,469 g/t AgEq over one mTW (2,838 g/t silver and 12.29 g/t gold).
• CS-23-286 returned 640 g/t AgEq over 4.80 mTW (417 g/t silver and 3.74 g/t gold):
  • Including 2,568 g/t AgEq over 0.68 mTW (1,585 g/t silver and 16.20 g/t gold).
• CS-23-294 returned 7,512 g/t AgEq over one mTW (6,880 g/t silver and 16.50 g/t gold).

"Expansion drilling at Copala, both to the southeast and north, continue to highlight a robust precious metals structure well beyond the January, 2023, resource boundary," commented Michael Konnert, president and chief executive officer. "The overall strike length now measures approximately 1,670 metres long and remains open in both directions. Additionally, drilling has expanded the high-grade Copala 2 vein situated between Tajitos and Copala Main, and identified a new near-surface structure, called El Habal. Moving forward, we will continue to both expand and infill these high-grade zones with three drill rigs in preparation for an updated resource estimate, planned for the fourth quarter of 2023."

The precious-metals-dominant Copala structure, located in the western portion of the Panuco district, is situated approximately 800 m to the east of the Napoleon structure. Copala currently hosts indicated resources of 51.1 million ounces AgEq at 516 g/t AgEq and inferred resources of 55.4 million ounces AgEq at 617 g/t AgEq within a broad envelope of vein-breccia interlayered with host rock, up to 82 metres thick. Interpretations by Vizsla geologists indicate Copala has an average dip of approximately 46 degrees to the east (approximately 35 degrees in its northern sector and steepening to approximately 52 degrees in the southern sector).

Continuing drilling at Copala has now traced mineralization along approximately 1,670 metres of strike length and approximately 400 metres down dip. High-grade silver-gold mineralization remains open laterally to the southeast and north. The recently completed batch of resource expansion drilling consisted of 15 holes drilled at approximately 100 m centres in the southern extent of Copala and five holes in the north, targeting both the main Copala structure and the Copala 2 vein. The company's results highlight the Copala structure is continuous to the southeast, beyond the January, 2023, resource. Vizsla plans to drill infill holes in approximately 100 m gaps to test and expand high-grade zones detected in the southeast.

The Copala 2 vein sits to the footwall of Copala Main and is bounded up dip by Copala, to the west by Tajitos and to the east by the Copala fault. The vein strikes northeast, dips to the southeast at approximately 48 degrees, and has been traced for approximately 330 metres along strike and approximately 290 metres down dip.

Additionally, Vizsla geologists have detected a new near-surface structure, named El Habal, in the southeast with hole CS-23-291. The team is in the process of a relogging and sampling campaign of other holes in the area to model this new blind structure.

To date, Vizsla has completed approximately 55,000 m of its fully financed, 90,000 m 2023 drill program.

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.