Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report results from 26 new drill holes targeting the Tajitos – Copala resource area at its 100%-owned, flagship Panuco silver-gold project located in Mexico. The results are exclusively from the Copala Vein located in the western portion of the district and expand the high-grade mineralized footprint to over 900 metres along strike by 400 metres down dip.

Highlights

• CS-22-191 returned 1,011 grams per tonne silver equivalent over 12.52 metres true width (706 g/t silver and 4.93 g/t gold)
  • Including 5,602 g/t AgEq over 1.26 mTW (3,880 g/t silver and 27.70 g/t gold)And, 5,491 g/t AgEq over 3.28 mTW (4,804 g/t silver and 14.23 g/t gold)
  • Including 12,690 g/t AgEq over 1.26 mTW (11,053 g/t silver and 33.50 g/t gold)
• CS-22-173 returned 826 g/t AgEq over 14.46 mTW (663 g/t silver and 2.90 g/t gold)
  • Including 2,118 g/t AgEq over 0.78 mTW (1,655 g/t silver and 8.05 g/t gold)
  • And, 1,826 g/t AgEq over 1.37 mTW (1,505 g/t silver and 5.93 g/t gold)
• CS-22-159 returned 418 g/t AgEq over 10.50 mTW (285 g/t silver and 2.12 g/t gold)
  • Including 1,775 g/t AgEq over 0.56 mTW (493 g/t silver and 18.30 g/t gold)
• And, 2,489 g/t AgEq over 2.66 mTW (2,011 g/t silver and 8.60 g/t gold)
  • Including 6,151 g/t AgEq over 0.89 mTW (4,950 g/t silver and 21.50 g/t gold)
• CS-22-181 returned 1,051 g/t AgEq over 3.44 mTW (832 g/t silver and 3.85 g/t gold)
  • Including 2,396 g/t AgEq over 0.68 mTW (1,725 g/t silver and 11.00 g/t gold)

“The Copala Vein, located just north of Tajitos, has now become our primary focus for near-term resource expansion at Panuco,” commented Michael Konnert, President and CEO. “Nowhere else in the district have we observed such high precious metals grades over such broad intervals, located just below surface. With several newly reported intercepts grading over 1,000 g/t AgEq, Copala continues to demonstrate high-grade mineral continuity both along strike and down dip, ultimately supporting the potential for a material expansion to the Copala resource base. To date, we have now reported 72 holes from Copala, effectively expanding the mineralized footprint to over 900m long by 400m down dip, with mineralization open in all directions.”

The Copala Vein is a structure located at the northern extent and on the hangingwall side of the Tajitos structure. Copala is marked by high precious metals grades (up to 11,053 g/t silver and 33.50 g/t gold over 1.26 mTW) hosted within a broader envelope of vein-breccia up to 82 metres thick with local mineralized pockets up to 20.45 mTW averaging 1,030 g/t AgEq (780 g/t silver and 4.23 g/t gold). Our most recent intercepts and interpretations show that Copala dips shallowly to the east (~35°) in its northern sector and steepens to ~52° to the east in the south sector.

Drilling has now traced Copala mineralization along 900 metres of strike length and approximately 400 metres down dip. Furthermore, today’s reported intercepts expand the zones NNW-SSE striking high-grade shoot an additional 450m to the SSE, beyond the March 2022 resource boundary. This high-grade sub-zone remains open to the north, south and down-dip to the east. Ongoing detailed structural-geologic interpretations suggest mineralization continues to the south, beyond the previously reported Cristiano Vein (see press releases dated January 19, 2022 and March 10, 2022), and is a near-term focus for expansion as Vizsla continues to explore this area.

Drilling focused on expanding the Copala resource area continues to highlight well-developed, high-grade mineral continuity. The intercepts reported here, along with previously reported intercepts located to the north and the Copala 2 vein-splay intercepts situated between Tajitos and Copala (see press releases dated June 21, 2022 and May 19, 2022), support the potential to discover additional blind to surface veins in the vicinity.

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 6,754-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.

The Panuco Project hosts an estimated in-situ indicated mineral resource of 61.1 Moz AgEq and an in-situ inferred resource of 45.6 Moz AgEq. The 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, has an effective date of March 1, 2022 and was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) 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 140,000 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.

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

Figure 2: Plan map of Copala vein with drill-hole pierce points. (CNW Group/Vizsla Silver Corp.)

Figure 3: Cross section showing Copala, Tajitos and Copala 2 veins. (CNW Group/Vizsla Silver Corp.)