Mr. Michael Konnert reports

VIZSLA SILVER ADDS UNPARALLELED MINE-BUILDING AND OPERATING EXPERTISE, APPOINTS SIMON CMRLEC TO THE ROLE OF COO

Simon Cmrlec will be joining Vizsla Silver Corp. as chief operating officer. Mr. Cmrlec is a highly experienced senior engineer with over 30 years of industry experience who has been a director of Vizsla Silver since its formation and has most recently held the position of chief operating officer of Ausenco, a global mining engineering and consulting firm. He has extensive experience in building mining projects around the world and across a number of different commodities and will be tasked with advancing Vizsla Silver's world-class Panuco silver-gold project toward production, with the goal of becoming one of the world's largest single-asset silver producers. Mr. Cmrlec commences the role on April 1, 2024.

"Simon has been involved with Vizsla Silver since its inception, preceding the acquisition of the Panuco-Copala district," commented Michael Konnert, president and chief executive officer. "His guidance as a director has been invaluable in establishing the culture and direction of the company. Now, we are honoured to welcome him as the incoming chief operating officer as we embark on the next stage of development for the Panuco project. We thank Martin for all of his contributions and wish him the best in his future endeavours."

"I am delighted to work closely with Mike and our excellent Vizsla team as we derisk and develop the world's next Tier 1 silver asset," commented Mr. Cmrlec. "Projects that are as well endowed as Panuco are rare, and it's a privilege to be part of its future."

Mr. Cmrlec began his career with Western Mining Corp. (WMC) at its Olympic Dam mine in South Australia, where he held several technical and operations roles. He was an owner representative for the Olympic Dam expansion project (ODP), where he supported the design, construction and commissioning of the smelter and hydrometallurgical facilities. Following the completion of the ODP project, Mr. Cmrlec joined Kvaerner and was involved in the construction and commissioning of various base metals, iron ore and gold projects in the United States, South America, Middle East and South Africa. In 2001, he joined Inco on the Goro nickel project in New Caledonia as the project manager responsible for the refinery facility. Mr. Cmrlec held a number of roles on the Goro nickel project, including senior project manager and construction director, in his eight years there. Mr. Cmrlec joined Ausenco in 2009 as the manager, project delivery, before assuming the role of president, Asia Pacific/Africa. In 2015, Mr. Cmrlec moved to Canada and became Ausenco's president, North America, before transitioning to president, Americas, in 2017 and chief operating officer in 2019.

Mr. Cmrlec graduated with a BEng (honours) in metallurgical engineering from the Gartrell School of Mining, Metallurgy and Applied Geology at the University of South Australia in 1994.

Mr. Cmrlec will replace Martin Dupuis, who is no longer with the company. The company wants to thank Mr. Dupuis for his many contributions, which have helped advance the Panuco project through its maiden resource and two subsequent resource updates.

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-sulphidation to low-sulphidation 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.

On Jan. 8, 2024, the company announced an updated mineral resource estimate for Panuco. The updated mineral resource includes an estimated in situ indicated mineral resource of 155.8 million ounces silver equivalent and an in situ inferred resource of 169.6 million ounces silver equivalent. An updated technical report is being prepared on the updated mineral resource estimate in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, and will be available on the company's website and SEDAR+ within 45 days of the date of announcement of the updated mineral resource.

About Vizsla Silver Corp.

Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, B.C., focused on advancing its flagship, 100-per-cent-owned Panuco silver-gold project located in Sinaloa, Mexico. To date, Vizsla Silver has completed over 350,000 metres of drilling at Panuco, leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver is focused on derisking the resource base located in the western portion of the district ahead of a development decision. Additionally, Vizsla Silver has budgeted 65,000 metres of resource/discovery-based drilling designed to upgrade and expand the project's mineral resource as well as test other high-priority targets across the district.

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