Mr. Michael Konnert reports

VIZSLA SILVER REPORTS ADDITIONAL HIGH-GRADE INTERCEPTS AT LA LUISA

Vizsla Silver Corp. has released results from seven new drill holes targeting the La Luisa vein located approximately 700 metres west of the Napoleon area resource, at its 100-per-cent-owned flagship Panuco silver-gold project in Mexico. Recently completed shallow drilling has expanded high-grade mineralization at La Luisa to the southeast.

Highlights

NP-23-425 returned 498 grams per tonne (g/t) silver equivalent (AgEq) over 1.30 metres true width (mTW) (42 g/t silver, 6.76 g/t gold, 0.02% lead and 0.05% zinc)

NP-23-423 returned 264 g/t AgEq over 4.60 mTW (73 g/t silver, 2.64 g/t gold, 0.15% lead and 0.38% zinc) and, 333 g/t AgEq over 2.10 mTW (136 g/t silver, 1.80 g/t gold, 0.49 % lead and 1.97% zinc)

NP-23-424 returned 652 g/t AgEq over 0.85 mTW (78 g/t silver, 7.78 g/t gold, 0.12% lead and 1.41% zinc) NP-24-427 returned 362 g/t AgEq over 1.00 mTW (37 g/t silver, 2.85 g/t gold, 0.71% lead and 3.14% zinc) Including, 659 g/t AgEq over 0.34 mTW (69 g/t silver, 4.01 g/t gold, 1.26% lead and 7.91% zinc)

"Ongoing drilling continues to demonstrate mineralized continuity at La Luisa," commented Michael Konnert, President and CEO. "La Luisa is the newest structure to be included in the Panuco Project resource base and hosts some of the highest gold grades discovered to date in the district. Given it is situated within the same vein corridor as the three-kilometer-long Napoleon, we continue to test the extents of La Luisa mineralization, which has only been traced for a kilometer and a half and remains open in all directions beyond the January 2024 resource boundary. Moving forward, we will continue to explore La Luisa with two drill rigs focused on expanding mineralization to the south and closing the untested gap to the north."

The Luisa Vein is located approximately 700 metres to the west of Napoleon in the southwest portion of the Panuco district. The structure has been mapped on surface for approximately 1,500 metres with an average strike of N30degreeW and dip of 70degree - 80degree to the northeast. To date, Vizsla Silver has reported 51 holes from La Luisa outlining a mineralized footprint approximately 1,670 metres long by 450 metres down dip with a weighted average grade of 472 g/t AgEq (184 g/t silver, 3.53 g/t gold, 0.38 % lead and 1.41 % zinc) and average width 2.93 mTW. La Luisa currently hosts Indicated Resources of 4.0 Moz AgEq at 459 g/t AgEq and Inferred Resources of 25.3 Moz AgEq at 386 g/t AgEq in the main La Luisa vein and the FW vein splay.

The upper levels of the vein are hosted primarily by rhyolite tuffs (the upper part of the regional lower volcanic sequence), whereas deeper vein-intercepts occur in the more favourable diorite host rock. Initial shallow drilling at La Luisa returned significant gold concentrations with relatively low silver and base metals values. The higher gold to silver and base metals ratios observed are analogous to the previously reported shallow "gold rich" horizon at the southern end of Napoleon. Interpretations based on metal zonation and alteration at Napoleon suggest that the vein corridor has been tilted, with the southern extent being at the top of the mineralized horizon, near surface (see the Company's press releases dated December 16, 2021 and October 12, 2022).

Surface mapping and sampling along strike to the northwest at La Luisa confirmed a wider vein expression with higher silver and gold anomalies at surface supporting the hypothesis that mineralization is tilted in a similar fashion to Napoleon (see surface samples on figure 2). Recent shallow drill-holes completed in the northwest (NP-23-399, NP-23-401, NP-23-403 and NP-23-408) have confirmed mineralization in the north and expand the potential strike length of La Luisa to 1,670 m; with an intermediate ~400 m drilling-gap between the high-grade shoot in the south and the recent drill intercepts to the north (see figure 2). Vizsla Silver is currently exploring La Luisa with two drill rigs, one testing the open strike potential to the southeast and the second in filling the gap zone to the north of the current mineral resource boundary.

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.

On January 8, 2024, the Company announced an updated mineral resource estimate for Panuco which includes an estimated in-situ indicated mineral resource of 155.8 Moz AgEq and an in-situ inferred resource of 169.6 Moz AgEq.

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 350,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver has budgeted +65,000 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.

Quality Assurance / Quality Control

Drill core 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 and rock samples were shipped to SGS Lab in Durango Mexico for sample preparation and analysis. The ALS Zacatecas, North Vancouver facilities and SGS lab 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

In accordance with NI 43-101, Jesus Velador, Ph.D. MMSA QP., Vice President of Exploration, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.

We seek Safe Harbor.