Mr. Michael Konnert reports

VIZSLA SILVER ANNOUNCES US$100 MILLION BOUGHT DEAL FINANCING

Vizsla Silver Corp. has entered into an agreement with Canaccord Genuity, as sole bookrunner on behalf of itself and syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 33,334,000 common shares at a price of $3 (U.S.) per common share for gross proceeds of approximately $100,002,000 (U.S.).

The company has granted the underwriters an option, exercisable at the offering price for a period of 30 days after and including the closing of the offering, to purchase up to an additional 15 per cent of the offering to cover overallotments, if any. The offering is expected to close on or about June 26, 2025, and is subject to the company receiving all necessary regulatory approvals. In the event that the overallotment option is exercised in full, the total gross proceeds of the offering will be $115,002,300 (U.S.).

The company currently intends to use the net proceeds of the offering to advance the exploration, drilling and development of the company's Panuco project, as well as for working capital and general corporate purposes, as set out in the prospectus supplement (as defined herein).

The common shares will be offered by way of a prospectus supplement in all provinces of Canada, other than Quebec, pursuant to the company's base shelf prospectus dated April 28, 2025, and will be offered in the United States, pursuant to a prospectus supplement filed as part of an effective registration statement on Form F-10 filed under the Canada/United States multijurisdictional disclosure system. Before investing, prospective purchasers in Canada should read the prospectus supplement, the base shelf prospectus and the documents incorporated by reference therein, and prospective purchasers in the United States should read the U.S. prospectus supplement, the base shelf prospectus, the registration statement and the documents incorporated by reference therein, for more complete information about the company and the offering.

Copies of the applicable offering documents, when available, can be obtained, without charge, under the company's profile on SEDAR+ and EDGAR. Delivery of the base shelf prospectus, the prospectus supplement and any amendments thereto will be satisfied in accordance with the "access equals delivery" provisions of applicable Canadian securities legislation. An electronic or paper copy of prospectus supplement, the U.S. prospectus supplement, the base shelf prospectus and the registration statement, when available, may be obtained, without charge, from Canaccord Genuity by phone at 416-869-3052 or by e-mail at ecm@cgf.com by providing Canaccord Genuity with an e-mail address or address, as applicable.

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. The company recently completed a preliminary economic study for Panuco in July, 2024, which highlights 15.2 million silver equivalent ounces of annual production over an initial 10.6-year mine life, an after-tax net present value at a 5-per-cent discount of $1.1-billion (U.S.), an 86-per-cent internal rate of return, and a nine-month payback at $26 (U.S.) per oz Ag and $1,975 (U.S.) per oz Au. Vizsla Silver aims to become the world's leading silver company by implementing a dual-track development approach at Panuco and advancing mine development, while continuing district-scale exploration through low-cost means.

We seek Safe Harbor.