Mr. Michael Konnert reports

VIZSLA SILVER AWARDS EQUIPMENT SUPPLY AGREEMENT FOR PANUCO

Vizsla Silver Corp. has awarded the equipment supply agreement to FLSmidth (FLS) for the company's wholly owned Panuco silver-gold project located in Sinaloa, Mexico.

The equipment supply agreement includes engineering and supply of major process plant equipment spanning the entirety of the proposed process flowsheet outlined in the company's 2025 feasibility study, with engineering work commencing immediately and formal notice to proceed anticipated in the coming months to initiate equipment manufacturing.

The equipment supply agreement covers eight major equipment packages across crushing, grinding, thickening and counter current decantation, Merrill Crowe, and refining circuits of the proposed process plant at Panuco. The equipment has been specified to support both the initial 3,300-tonne-per-day (tpd) phase 1 operation and the planned expansion to 4,000 tpd outlined in the 2025 feasibility study. The contract structure and equipment configuration are designed to facilitate future process plant modifications associated with the planned integration of the Napoleon mine in year 4, with minimal operational downtime.

The parties have initially entered into a limited notice to proceed agreement (LNTP) to authorize commencement of early engineering and procurement activities while the definitive terms of the equipment supply agreement continue to be finalized.

"The award of this major equipment package to FLS represents a key procurement milestone for the Panuco project," said Simon Cmrlec, chief operating officer of Vizsla Silver. "We are pleased to be working with the FLS team who has provided us with a technically robust equipment package for the project which supports both the initial phase 1 plant design and future phase 2 expansion plans while remaining in line with the process plant capital budget outlined in the feasibility study. FLS's life-cycle service offering will provide us with a high level of support throughout the commissioning, ramp-up and operations phases of the Panuco facility."

"We are excited to be selected as Vizsla Silver's key technology partner for their complete silver processing flowsheet. With our leading technologies and life-cycle service offerings, we look forward to helping Vizsla Silver maximize silver recovery and production throughout the life cycle of this new operation," comments Qasim Abrahams, products business line president at FLS.

About Vizsla Silver Corp. and the Panuco project

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 feasibility study for Panuco in November, 2025, which highlights 17.4 million ounces AgEq (silver equivalent) of annual production over an initial 9.4-year mine life, an after-tax NPV (net present value) (5 per cent) of $1.8-billion (U.S.), 111-per-cent IRR (internal rate of return) and a seven-month payback at $35.50 (U.S.)/oz Ag and $3,100 (U.S.)/oz Au. Vizsla Silver aims to position itself as a leading silver company by implementing a dual-track development approach at Panuco, advancing mine development while continuing district-scale exploration through low-cost means.

In accordance with National Instrument 43-101, Jesus Velador, PhD, MMSA QP, chief geologist, 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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