Mr. Michael Konnert reports

VIZSLA REPORTS HIGH METALLURGICAL TEST RECOVERIES FOR COPALA: 91% SILVER AND 94% GOLD

Vizsla Silver Corp. has released positive preliminary metallurgical test results for the Copala resource area at its 100-per-cent-owned flagship Panuco silver-gold project located in Mexico.

"Based on representative samples from Copala, the largest known structure in the Panuco district, we are pleased to report very high silver and gold recoveries," commented Michael Konnert, President & CEO of Vizsla Silver. "This is a significant de-risking milestone for the Project and provides positive implications for the ongoing development of the Panuco district. Additionally, these results complement high silver and gold recoveries from the Napoleon and Tajitos resource areas using comparable grinding with both flotation and leaching methods independently. We intend to confirm through the next phase of metallurgical testing and additional flowsheet optimization that the mineralized material from all three primary zones, which make up the bulk of the current project resource base, is amenable to processing via the same flowsheet utilizing the same extraction circuits by testing the combination of flotation and cyanide leaching at both Napoleon and Tajitos."

Testing Procedure:

The test program was designed and supervised by Ausenco Engineering Canada Inc. and completed by ALS Canada Ltd. out of Kamloops, BC. The testing procedure consisted of drill core being first crushed to -6 mesh and prepared into master composite test charges. A series of flotation tests were then conducted on the samples at primary grind sizes of between P80 70 to 150mum. Simple bulk flotation conditions were applied which included 18 g/t of PAX over 8 minutes of flotation time at natural pH. Precious metal recoveries to the concentrate ranged between 76 to 82% for gold and 78 to 85% for silver.

Flotation concentrate and tails were both subsequently leached using sodium cyanide to maximize gold and silver extraction. Flotation concentrates were subject following varying levels of regrinding prior to bottle roll leach tests using a sodium cyanide concentration of 3000 ppm. Pre-aeration was applied by bottle rolling the prepared feed slurries with ambient air prior to adding cyanide. Flotation tails were subject to bottle roll leach tests using a sodium cyanide concentration of 1000 ppm. Total circuit sodium cyanide consumptions averaged 1.3 kg/tonne for tests that included regrinding.

Gold and silver extractions from the flotation concentrates averaged 96.4 and 98.1%, respectively, for tests that employed regrinding compared with 93.6 and 92.7% without regrinding. Gold extractions appeared to be complete after 24 hours, while silver benefitted from extending the leach to 48 hours. Gold extractions from the rougher tails ranged between 77 and 82%, while silver extractions ranged between 48 and 67% after 48 hours of leaching. The higher extractions were achieved at the finer primary grind sizes. A summary of master composite test results is presented in Table 1.

A test was conducted in which the concentrate residue was added to the rougher tail leach, 24 hours into the process, for an additional 48 hours of leaching of this product. This arrangement is represented in Figure 1. In this test (T60), 93.7% and 90.6% of the gold and silver, respectively, were extracted to the combined leach solutions as indicated in Table 2.

Test T55 used a finer primary grind of 70microm P80 returned very good total recoveries of 93.0% and 93.8% for gold and silver, respectively. This test used was performed over a lower leach residence time of 48 hours for both the rougher tails and concentrate. This result indicates that finer primary grinding may be justified. Repeat testing and grinding circuit cost analysis needs to be completed to confirm.

Comminution: The Copala composite material is considered to be hard, returning a bond ball mill work index (BBWi) of 18.6 kWh/tonne, which is higher in comparison with Napoleon deposit (16.8 kWh/tonne).

Future Work Programs

Based on these positive results from Flotation plus Cyanide Leaching for the Copala deposit, further metallurgical testwork is being planned for the Napoleon and Tajitos deposits to further confirm that they are amenable to the same treatment.

In addition, further test work of material from the Napoleon, Tajitos and Copala deposits is planned to better understand and optimise grind size, cyanide consumption, leach kinetics, residence times and recoveries.

Napoleon and Tajitos previous Metallurgical Testwork

Preliminary silver and gold recoveries for the Napoleon and Tajitos resource areas were originally disclosed by Vizsla on February 17, 2022 and March 10, 2023, and are provided in Tables 3 and 4. The float and leach test work that was carried out on the Copala samples has not been specifically evaluated on Napoleon material however, some of the Tajitos samples were tested using a similar arrangement, albeit not with the same application of regrinding or additional leach residence times.

Engagement of Rose & Co.

Vizsla would also like to announce that, subject to regulatory approval, it has retained Rose & Company Holdings, LLC ("Rose & Co.") to provide certain investor relation services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. Rose & Co is a New York-based advisory firm that provides their clients with high quality investor access and outreach services.

Under the agreement, the Company will pay Rose & Co. $15,000 per month during the term. The term of the engagement is for a period of one year, and Vizsla has a one-time right to terminate the agreement after three (3) months. Rose & Co. will not receive any shares or options from the Company as compensation for services it will render.

Rose & Co is at arm's length to the Company, and neither holds any securities of the Company nor has any interest, direct or indirect, in the Company.

About Rose & Company

Rose & Co. is a strategic advisory firm dedicated to helping clients successfully navigate the global capital markets. Rose & Co. works with its clients to evaluate, define and execute strategies to enhance their presence in increasingly globalized and complex capital markets. For more information, please visit www.roseandco.com.

About the Panuco project

The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlan. The 7,189.5-hectare, past producing district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, roads, power, and permits.

The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara Formation.

The Panuco Project hosts an estimated in-situ indicated mineral resource of 104.8 Moz AgEq and an in-situ inferred resource of 114.1 Moz AgEq. An updated NI 43-101 technical report titled "Technical Report on the Mineral Resource Estimate Update for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State, Mexico" was filed on SEDAR on March 10, 2023, with an effective date of January 19, 2023 was prepared by Allan Armitage, Ph. D., P. Geo., Ben Eggers, MAIG, P.Geo. and Yann Camus, P.Eng. of SGS Geological Services.

About Vizsla Silver

Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, BC, focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. To date, Vizsla Silver has completed over 250,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2023, Vizsla Silver has budgeted +90,000 metres of resource/discovery-based drilling designed to upgrade and expand the mineral resource, as well as test other high priority targets across the district.

About Ausenco

Ausenco is a global company redefining what's possible. Their team is based across 26 offices in 14 countries, with projects in over 80 locations worldwide. Combining their deep technical expertise with a 30-year track record, they provide innovative, value-add consulting and engineering studies and project delivery, asset operations and maintenance solutions to the mining & metals, oil & gas, and industrial sectors.

Quality Assurance / Quality Control

Drill core and rock samples were shipped to ALS Limited in Zacatecas, Zacatecas, Mexico and in North Vancouver, Canada for sample preparation and for analysis at the ALS laboratory in North Vancouver. 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 ("AA") spectroscopy finish. Over limit analyses for silver, lead and zinc were re-assayed 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

The Company's disclosure of metallurgical information in this press release has been collated and reviewed by Peter Mehrfert, P. Eng, of Ausenco. All scientific and technical information in this press release has been reviewed and approved by Martin Dupuis, P.Geo., COO for Vizsla. Messrs. Mehrfert and Dupuis are Qualified Persons as defined under the terms of National Instrument 43-101.

We seek Safe Harbor.