Vizsla Royalties Corp. (TSX-V: VROY) (OTCQB: VROYF) is pleased to announce that all closing conditions in connection with its acquisition of an additional 3.0% net smelter returns royalty on certain concessions (the “Silverstone Concessions“) comprising the Panuco-Copala Silver-Gold Project located in the State of Sinaloa, Mexico (have been satisfied, other than payment of the purchase price.

Upon acquiring the 3.0% Royalty in connection with the Transaction, the Company holds a 3.5% NSR on the Silverstone Concessions, significantly increasing its exposure to one of the most advanced and high-grade silver-gold development districts in the world, positioning shareholders to benefit from long-term value creation as the Panuco Project progresses toward production. Vizsla Royalties also holds a 2.0% NSR on certain other concessions comprising the Panuco Project.

Pursuant to the Transaction, Vizsla Royalties (a) exercised its right to repurchase 50% of the 3.0% Royalty for US$1,950,000, and (b) purchased the remaining 50% of the 3.0% Royalty for US$38,050,000, for a total cash consideration of US$40,000,000. The funds comprising the purchase price have been wired to the Company’s subsidiary in Mexico, and formal completion of the Transaction will occur upon confirmation of release of such funds to the vendor.

The Transaction is an arm’s length transaction. No finder’s fees are payable in connection with the Transaction. The Transaction remains subject to the final approval of the TSX Venture Exchange.

Closing of Bought Deal Offering

The Company is also pleased to announce that it has completed its previously announced bought deal offering of 31,510,000 common shares of the Company at a price of C$2.00 per Common Share for aggregate gross proceeds of C$63,020,000, including proceeds raised from the over-allotment option, exercised in full. The Offering was led by CIBC Capital Markets as lead bookrunner and underwriter on behalf of a syndicate of underwriters that included Ventum Financial Corp., Canaccord Genuity Corp. and Raymond James Ltd.

In consideration for the services provided by the Underwriters in connection with the Offering, the Company paid to the Underwriters a cash commission equal to 5% of the gross proceeds. The Company also paid CIBC a fee of US$500,000 in connection with its services as financial advisor in connection with the Transaction. The Advisory Fee was satisfied by the issuance of 341,825 Common Shares at a deemed price of C$2.00 per share.

The Common Shares were offered pursuant to a final prospectus supplement of the Company dated June 6, 2024 to the short form base shelf prospectus of the Company dated May 20, 2024, in all of the provinces and territories of Canada, except Quebec. The Offering remains subject to the final approval of the TSXV.

A portion of the net proceeds of the Offering were utilized to complete the Transaction, and the balance will be used for working capital and general corporate purposes as set out in the Prospectus Supplement.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any applicable state securities laws, and may not be offered or sold in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Copies of the applicable offering documents can be obtained free of charge under the Company’s profile on SEDAR+ at www.sedarplus.ca. 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 Prospectus Supplement and the Base Shelf Prospectus may be obtained, without charge, from CIBC Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 416-956-6378 or by email at mailbox.canadianprospectus@cibc.com by providing an email address or address, as applicable.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Advisors and Counsel

CIBC acted as financial advisor to Vizsla Royalties, with Forooghian + Company Law Corporation acting as legal advisor to the Company in relation to the Transaction and the Offering. Borden Ladner Gervais LLP acted as legal advisor to the Underwriters in relation to the Offering.

About Vizsla Royalties Corp.

Vizsla Royalties Corp. is a precious metals focused royalty company. The Company’s principal asset is a Net Smelter Return Royalty on Vizsla Silver Corp.’s (TSX: VZLA) (NYSE American: VZLA) flagship Panuco Project located in Mexico. Panuco is a world-class silver and gold development project actively advancing towards production. A Preliminary Economic Study for Panuco was published in July 2024 which highlights 15.2 Moz AgEq of annual production over an initial 10.6-year mine life, an after-tax NPV5% of US$1.1B, 86% IRR and a 9-month payback at US$26/oz Ag and US$1,975/oz Au.