Mr. Michael Konnert reports

VIZSLA SILVER ANNOUNCES CLOSING OF OVER-ALLOTMENT OPTION IN FULL

Further to Vizsla Silver Corp.'s successfully completed bought deal public offering of 33,334,000 common shares of the company, at a price of $3 (U.S.) per initial share, the underwriters have purchased an additional 5,000,100 common shares of the company at the offering price per additional share, pursuant to their exercise in full of the overallotment option granted by Vizsla Silver, generating additional gross proceeds of $15,000,300 (U.S.).

The offering was led by Canaccord Genuity Corp., as sole bookrunner and lead underwriter, on behalf of a syndicate of underwriters that included CIBC Capital Markets, National Bank Financial Inc., Ventum Financial Corp., BMO Capital Markets and Raymond James Ltd.

The common shares were offered pursuant to a final prospectus supplement of the company dated June 23, 2025, to the short form base shelf prospectus of the company dated April 28, 2025, in all of the provinces and territories of Canada, except Quebec, and in the United States pursuant to a prospectus supplement dated June 23, 2025, filed as part of an effective registration statement on Form F-10 filed under the Canada/U.S. multijurisdictional disclosure system. The offering remains subject to the final approval of the Toronto Stock Exchange.

The net proceeds of the offering, including those raised from the exercise of the overallotment option, are expected to be used to advance the exploration and development of the Panuco project, exploration of the Santa Fe project, potential future acquisitions, as well as for working capital and general corporate purposes as set out in the prospectus supplement.

Copies of the applicable offering documents can be obtained free of charge under the company's profile on SEDAR+ and EDGAR. Delivery of the base shelf prospectus and 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 the prospectus supplement, the U.S. prospectus supplement, the base shelf prospectus and the registration statement may be obtained, without charge, from Canaccord Genuity Corp. by phone at 416-869-3052 or by e-mail at ecm@cgf.com by providing Canaccord Genuity Corp. with an email 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 ounces silver equivalent (AgEq) of annual production over an initial 10.6-year mine life, an after-tax net present value at 5 per cent of $1.1-billion (U.S.), an internal rate of return of 86 pepr cent, and a nine-month payback at $26 (U.S.) per ounce silver (Ag) and $1,975 (U.S.) per ounce gold (Au). Vizsla Silver aims to become the world's leading silver company by implementing a dual-track development approach at Panuco, advancing mine development, while continuing district-scale exploration through low-cost means.

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