Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report results from seven 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 results are centered on the western portion of the district and are a part of Vizsla’s ongoing 120,000 metre resource expansion/discovery-focused drill program.

Highlights

• NP-22-320 returned 2,305 grams per tonne (g/t) silver equivalent over 1.55 metres true width (279 g/t silver, 24.01 g/t gold, 1.82 % lead and 7.58 % zinc) including,
  • 2,631 g/t AgEq over 1.18 mTW (267 g/t silver, 29.10 g/t gold, 1.29 % lead and 7.18 % zinc)
• NP-22-329 returned 446 g/t AgEq over 6.70 mTW (222 g/t silver, 2.64 g/t gold, 0.34 % lead and 1.16 % zinc) including,
  • 875 g/t AgEq over 0.78 mTW (668 g/t silver, 2.22 g/t gold, 0.49 % lead and 2.28 % zinc), and
  • 815 g/t AgEq over 0.78 mTW (159 g/t silver, 9.14 g/t gold, 0.08 % lead and 0.19 % zinc)
• NP-22-333 returned 696 g/t AgEq over 1.50 mTW (378 g/t silver, 2.53 g/t gold, 0.40 % lead and 4.29 % zinc)

“The Napoleon Vein was the first major discovery made by Vizsla at Panuco in 2020.” commented Michael Konnert, President and CEO. “We have now expanded the mineralized footprint to over two and a half kilometres long and outlined an initial Napoleon Area resource of 36 million ounces AgEq Indicated and 17 million ounces AgEq Inferred. With a local exploration model that continues to be validated through ongoing drilling, and new high-grade results from the footwall and hanging wall vein splays not included in the initial March 2022 resource, we continue to view the Napoleon Area as a primary target for future resource growth and development. 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 5).

Previously reported high-grade gold values closer to surface support the model (see press releases dated December 16, 2021 and March 29, 2022), while results disclosed in this news release, show additional high precious metals grades on vein splays at the hanging wall and footwall of the main Napoleon structure. The vein splays are situated between 25-70 metres into the hanging wall and footwall, respectively, and merge with the main Napoleon Vein at depth. Results from recent drilling suggests the hanging wall splay forms a cymoid loop with the main Napoleon Vein as shown in figure 3.

Deeper directional drilling in hole NP-22-320 intersected the main Napoleon Vein and footwall splay with high base metal concentrations and relatively low precious metals, 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 1) 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, 2) support ongoing exploration potential of the hanging wall and footwall 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.

Table 1: Downhole drill intersections from the holes completed along the Napoleon vein.

Table 2: Napoleon vein drillhole details. 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 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 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 along the southern extent of the Napoleon vein. (CNW Group/Vizsla Silver Corp.)

Figure 2: Longitudinal section of the main Napoleon Vein. The section is inclined along the dip of the structure. (CNW Group/Vizsla Silver Corp.)

Figure 3 : Longitudinal section of a vein splay (HW Splay) on the hanging wall of the main Napoleon Vein. The section is inclined along the dip of the structure. (CNW Group/Vizsla Silver Corp.)

Figure 4 : Longitudinal section of a vein splay (FW Splay 1) on the footwall of the main Napoleon Vein. The section is inclined along the dip of the structure. (CNW Group/Vizsla Silver Corp.)

Figure 5: Napoleon Vein Corridor Exploration Model Longitudinal Section with pierce points. (CNW Group/Vizsla Silver Corp.)

Figure 6: Cross section highlighting recent drill intercepts located outboard of the inferred resource boundary at the southern extent of Napoleon. (CNW Group/Vizsla Silver Corp.)