Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (FSE: 0G3) is pleased to announce that it has completed its previously announced private placement, led by PI Financial Corp. on behalf of a syndicate of agents that included Canaccord Genuity Corp., Raymond James Ltd., Stifel Nicolaus Canada Inc., Roth Canada Inc. and Alliance Global Partners.

Pursuant to the Offering, the Company issued 27,286,050 common shares at a price of $1.65, for gross proceeds of $45,021,982.50.  The Company paid a cash commission equal to 6% of the gross proceeds of the Offering and issued 1,637,163 compensation options to the Agents.  Each Compensation Option is exercisable to acquire one Common Share at the Issue Price until February 9, 2025.

The net proceeds from the Offering will be used to advance the exploration, drilling and development of the Company’s Panuco Project, as well as for working capital and general corporate purposes.

All securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the date of issuance.

Completion of the Offering is subject to the final approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

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 Silver has completed over 250,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2023, Vizsla Silver 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.