Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report drill results from 14 infill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project located in Mexico. The reported results correspond to infill drilling in the southeast-central portion of the Copala structure, demonstrating high-grade precious-metals continuity within the Copala resource wireframe.

Highlights

• CS-22-246 returned 1,548 grams per tonne silver equivalent over 15.00 metres true width (1,142 g/t silver and 7.20 g/t gold)
  • Including 3,872 g/t AgEq over 3.07 mTW (2,878 g/t silver and 17.72 g/t gold)
  • And 3,356 g/t AgEq over 2.31 mTW (2,331 g/t silver and 17.60 g/t gold)
• CS-22-248 returned 787 g/t AgEq over 20.60 mTW (643 g/t silver and 2.80 g/t gold)
  • Including 1,099 g/t AgEq over 1.02 mTW (912 g/t silver and 3.71 g/t gold)
  • And 3,195 g/t AgEq over 0.26 mTW (2,670 g/t silver and 10.55 g/t gold)
  • And 2,573 g/t AgEq over 4.84 mTW (2,099 g/t silver and 9.20 g/t gold)
• CS-22-251 returned 731 g/t AgEq over 18.00 mTW (602 g/t silver and 2.53 g/t gold)
  • Including 1,032 g/t AgEq over 0.55 mTW (897 g/t silver and 2.93 g/t gold)
  • And 4,161 g/t AgEq over 2.27 mTW (3,421 g/t silver and 14.51 g/t gold)
  • And 1,099 g/t AgEq over 0.52 mTW (931 g/t silver and 3.45 g/t gold)
• CS-22-241 returned 1,287 g/t AgEq over 4.30 mTW (758 g/t silver and 8.62 g/t gold)
  • Including 1,616 g/t AgEq over 1.05 mTW (798 g/t silver and 12.93 g/t gold)
  • And 3,653 g/t AgEq over 0.86 mTW (2,347 g/t silver and 21.77 g/t gold)
• CS-23-253 returned 2,522 g/t AgEq over 2.10 mTW (1,920 g/t silver and 10.91 g/t gold)
  • Including 3,814 g/t AgEq over 1.10 mTW (2,900 g/t silver and 16.55 g/t gold)

“Ongoing drilling at Copala continues to demonstrate exceptional continuity of high-grade mineralization,” commented Michael Konnert, President & CEO. “The recently completed infill-drilling program serves to incrementally de-risk the local resource through tighter spaced drilling and provides representative sample material for metallurgical testing. Furthermore, recently announced step-out drilling beyond the resource wireframe, continues to highlight Copala’s near-term growth potential.  We currently have three drill rigs targeting the Copala/Cristiano area, where near-surface, high-grade mineralization remains open laterally and at depth.”

The Copala Structure, located in the western portion of the Panuco district, is situated ~800m to the east of the Napoleon structure. Copala currently hosts Indicated Resources of 51.1 Moz AgEq at 516 g/t AgEq and Inferred Resources of 55.4 Moz AgEq at 617 g/t AgEq within a broad envelope of vein-breccia interlayered with host rock, up to 82 metres thick. Interpretations by Vizsla geologists indicate Copala has an average dip of ~46° to the east (~35° in its northern sector and steepening to ~52° in the southern sector).

Drilling at Copala has now traced mineralization along approximately 1,100 metres of strike length and approximately 400 metres down dip. High-grade silver-gold mineralization remains open laterally to the north and southeast, as well as down dip to the east. The recently completed infill-drilling program consisted of 25 holes drilled at 25 metre centers designed to assess grade continuity and to provide sample material for metallurgical tests. Infill-holes CS-22-241, CS-22-246, CS-22-248 and CS-22-251 reported today, have confirmed strong continuity of structures and high-grades at tighter drill-hole spacing.

Previously reported drillholes CS-22-202, CS-22-207 and CS-22-219, indicate an uplifted block of basement metasediments in fault-contact with andesites and diorite on the east side of Copala (see figures 2 and 3). New interpretations suggest between ~300 to 350 metres of vertical displacement by the fault. This information, in conjunction with ongoing data collection, are being used to define a target elevation for Copala type mineralization on the footwall side (east) of the fault. An uplifted block to the east of the current Copala resource has the potential to host Copala type mineralization at a shallower elevation, closer to surface. Vizsla plans to test this hypothesis with drillholes collared on the footwall side of the fault during Q1 2023.

Table 1: Downhole drill intersections from the holes reported for the new splay vein at the foot wall of Copala.

Table 2: Drillhole details for the reported drillholes. Coordinates in WGS84, Zone 13.

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 Mazatlán. The 6,761-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.

The Panuco Project hosts an estimated in-situ indicated mineral resource of 104.8 Moz AgEq and an in-situ inferred resource of 114.1 Moz AgEq. An updated NI 43-101 technical report for the Panuco Project with the updated Mineral Resource Estimate is being prepared and expected to be filed on SEDAR within 45 days of our recent Mineral Resource Update published on January 24, 2023.

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 has completed over 250,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2023, Vizsla has budgeted +90,000 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 and rock 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.  The ALS Zacatecas and North Vancouver facilities 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 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, Martin Dupuis, P.Geo., COO, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.

Figure 1: Plan map of recent drilling centered on the Copala structure (CNW Group/Vizsla Silver Corp.)

Figure 2: Inclined longitudinal section for Copala structure with drillhole pierce points. The section is 1x along strike to 1.4x along the dip to compensate for the average 46-degree dip of Copala. (CNW Group/Vizsla Silver Corp.)

Figure 3: Cross section showing Copala structure and Cristiano vein with completed infill drilling on Copala. (CNW Group/Vizsla Silver Corp.)