Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report results from 12 new drillholes targeting the southern extension of the Napoleon Vein, at its 100%-owned flagship Panuco silver-gold project located in Mexico. The new drill holes report high grade silver and gold intercepts from the footwall vein splays and further support grade continuity to the south along the main Napoleon Vein.

Highlights

• NP-22-316 returned 2,767 grams per tonne silver equivalent over 1.00 metres true width (2,642 g/t silver, 1.60 g/t gold, 1.87 % lead and 4.08 % zinc) and,
  • 999 g/t AgEq over 1.00 mTW (740 g/t silver, 3.63 g/t gold, 0.23 % lead and 1.23 % zinc)
• NP-22-315 returned 396 g/t AgEq over 1.86 mTW (354 g/t silver, 0.60 g/t gold, 0.19 % lead and 0.51 % zinc) and,
  • 1,413 g/t AgEq over 1.81 mTW (1,268 g/t silver, 3.12 g/t gold, 0.06 % lead and 0.22 % zinc)
• NP-22-306 returned 359 (g/t) AgEq over 1.52 mTW (235 g/t silver, 1.45 g/t gold, 0.55% lead and 0.61 % zinc) and,
  • 775 g/t AgEq over 0.91 mTW (320 g/t silver, 5.77 g/t gold, 0.55% lead and 1.34 % zinc)

“We continue to view the southern extent of Napoleon as a primary target for near-term resource growth at Panuco,” commented Michael Konnert, President and CEO. “With a local exploration model that continues to be validated through ongoing drilling, exploration along the southern extent of Napoleon has become increasingly predictive. We have now defined several high-grade shoots along the 2.5 kilometre long corridor which remain open for further expansion both along strike and at depth. Additionally, high-grade results from the footwall vein splays demonstrate that the Napoleon Vein Corridor is more than one structure, it is a vein system with increased potential to delineate resources. Of the nine drill rigs currently turning on the property, expansion/conversion drilling continues at Napoleon with two rigs, including one direction rig.”

Details of the Napoleon Southern Extent

Infill and step-out (expansionary) drilling completed to date has led to an improved understanding on the controls to mineralization along the Napoleon vein corridor. Observations based on metal zonation and alteration continue to suggest the corridor has been tilted with the southern extent being at the top of the mineralized horizon, near surface (Figure 3).

Previously reported high-grade gold values closer to surface support the model (see press release dated December 16, 2021), while results disclosed in this news release, show additional high precious metals grades on vein splays at the footwall of the main Napoleon structure. The new vein splays are situated between 50-70 metres into the footwall and merge with the main Napoleon vein at depth.

Deeper directional drilling in holes NP-22-307 and NP-22-314 intersected the Napoleon structure with high base metal and low precious metal concentrations, as predicted by the model. Directional drilling remains ongoing at the southern end of Napoleon, testing both the main Napoleon structure and its vein splays to depth within the “precious metals rich” horizon.

These results serve to further demonstrate the continuity of high-grade silver and gold mineralization along the southern extent of the main Napoleon vein, outside of the March 2022 mineral resource boundary and support ongoing exploration potential of the footwall and hanging wall vein splays. Vizsla has completed structural and 3D geologic modelling of the vein splays and plans to further drill step-out holes specifically designed to test mineral continuity along strike and to depth.

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 75 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.

Panuco hosts an estimated in-situ indicated mineral resource of 61.1 Moz AgEq and an in-situ inferred resource of 45.6 Moz AgEq. A NI 43-101 technical report, titled “National Instrument 43-101 Technical Report for the Panuco Project Mineral Resource Estimate Concordia, Sinaloa, Mexico” was filed on SEDAR on April 7, 2022, with an effective date of March 1, 2022 was prepared by Tim Maunula, P.Geo., Principal Geologist, T. Maunula & Associates Consulting Inc and Kevin Murray, P.Eng, Manager Process Engineering, Ausenco.

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 210,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2022, Vizsla has budgeted +120,000 metres of resource/discovery-based drilling, designed to upgrade, and expand the maiden 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 (“AA”) 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.