Mr. Michael Konnert reports

VIZSLA SILVER REPORTS ADDITIONAL HIGH-GRADE INTERCEPTS ON COPALA AND ITS SPLAYS

Vizsla Silver Corp. has released results from 27 new drill holes targeting the Copala resource area at its 100-per-cent-owned, flagship Panuco silver-gold project located in Mexico. The reported drilling, designed to both infill and expand mineralization, successfully confirmed high-grade continuity throughout Copala and extended mineralization by approximately 100 metres down dip to the southeast.

Highlights:

• CS-24-342 returned 703 grams per tonne (g/t) silver equivalent (AgEq) over six metres true width (mTW) (487 g/t silver (Ag) and 3.69 g/t gold (Au)), including:
  • 1,327 g/t AgEq over 2.26 mTW (832 g/t silver and 8.09 g/t gold).
• COP-2023-001 returned 332 g/t AgEq over 13.60 mTW (240 g/t silver and 1.61 g/t gold), including:
  • 1,793 g/t AgEq over 1.10 mTW (1,075 g/t silver and 11.55 g/t gold).
• COP-2023-004 returned 658 g/t AgEq over 5.10 mTW (318 g/t silver and 5.23 g/t gold), including:
  • 1,436 g/t AgEq over 0.28 mTW (338 g/t silver and 16 g/t gold); and
  • 2,104 g/t AgEq over 0.96 mTW (1,270 g/t silver and 13.45 g/t gold).
• CS-24-339 returned 832 g/t AgEq over 2.92 mTW (738 g/t silver and 2.28 g/t gold).

"Ongoing drilling at the high-grade Copala structure continues to demonstrate exceptional mineral continuity," commented Michael Konnert, president and chief executive officer. "Since the delivery of the updated mineral resource estimate in January, 2024, we have been focused on derisking Copala through infill and geotechnical drilling with two rigs ahead of the initial project PEA [preliminary economic assessment]. Today's results further highlight that Copala is a precious-metals dominant, very-wide, near-surface structure with a grade-width profile that can support a potential mining scenario. Moving forward, we intend to continue infilling and expanding Copala main and its high-grade splay structures, as we look to develop Panuco into the world's next Tier 1 silver-primary asset."

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 vein. Copala currently hosts indicated resources of 83.3 million ounces (Moz) AgEq at 573 g/t AgEq and inferred resources of 48.3 Moz AgEq at 476 g/t AgEq, within a broad envelope of vein-breccia interlayered with host rock, up to 82 metres thick (see the company's press release dated Jan. 8, 2024). 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 65 degrees in the southern sector).

Continuing drilling at Copala has now traced mineralization along approximately 1,770 metres of strike length and approximately 400 metres down dip. The recently completed batch of infill, geotechnical and resource expansion drilling consisted of 20 holes drilled at approximately 50 m to approximately 100 m centres in the southern extent of Copala, and seven holes drilled in the north-central zone, including one hole on Tajitos. The infill and expansion holes in the southeast targeted Copala 3 on the hanging wall, main Copala and Copala 4 situated on the footwall. The infill and geotechnical holes drilled in the north-central zone targeted only the main Copala structure, except for hole COP-2023-002 that was drilled on the Tajitos vein.

Infill and geotechnical drilling completed in the south and north-central areas of Copala have successfully confirmed high-grade mineral continuity. Extension drilling completed in the south has expanded mineralization by approximately 100 m down dip to the east, marked by hole CS-23-330. Additionally, drilling along the southern extents of Copala has highlighted that the main structure gets steeper at depth (approximately 65 degrees) and develops narrower vein splays carrying significant silver and gold grades (Copala 3 and Copala 4). The recently reported Copala 4 splay vein sits between Cristiano and Copala, approximately 75 m west of Copala, whereas Copala 3 sits less than 50 m to the east of Copala main on the hanging wall side. Drilling to date has traced Copala 4 for approximately 300 m along strike and 400 m down dip. Copala 3 is more irregular in terms of grade and thickness along strike (locally forms sparse high-grade pockets), but, overall, the structure has been traced over 400 m long by 400 m down dip.

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 and power, and permits.

The district contains intermediate- 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, which includes an estimated in situ indicated mineral resource of 155.8 million ounces (Moz) silver equivalent (AgEq) and an in situ inferred resource of 169.6 Moz AgEq.

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 has budgeted over 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 (QA/QC)

Drill core samples were shipped to ALS Ltd. 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 (inductively coupled plasma) finish, and gold was assayed by 30-gram fire assay with atomic absorption (AA) 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, Jesus Velador, PhD, MMSA (Mining and Metallurgical Society of America) QP (qualified person), 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.

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