Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report results from 11 new drill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project located in Mexico. The reported drill results are from the recently completed infill program, designed to upgrade and expand Mineral Resources within areas designated for initial production at Copala.

Highlights

• CS-24-393 returned 4,573 grams per tonnesilver equivalent over 5.65 metres true width (3,007 g/t silver and 26.06 g/t gold)
  • Including 16,666 g/t AgEq over 1.48 mTW (10,869 g/t silver and 96.11 g/t gold)
• CS-24-390 returned 3,368 g/t AgEq over 5.80 mTW (2,551 g/t silver and 14.85 g/t gold)
  • Including 30,305 g/t AgEq over 0.46 mTW (21,953 g/t silver and 146.50 g/t gold)
• CS-24-389 returned 5,224 g/t AgEq over 2.30 mTW (2,851 g/t silver and 37.30 g/t gold)
  • Including 10,077 g/t AgEq over 1.05 mTW (5,410 g/t silver and 73.10 g/t gold)

“This latest round of infill drill results continues to support improved mineral continuity along the Copala structure,” commented Michael Konnert, President & CEO. “It is very rare for an infill program to add such a significant amount of new mineralization, particularly at higher-than-average grades. This speaks to the exceptional quality of the Copala structure which remains open in all directions. Additionally, the discovery of a historic mine adit at Copala combined with new 3D interpretations based on updated drill data, highlights the potential for additional near surface resources outboard of both the current PEA mine plan and MRE boundary. With the infill program now complete, we are looking forward to mobilizing our drill rigs to the eastern portion of the district to begin discovery-based drilling on several high-priority targets.”

The precious metals dominant Copala structure, located in the western portion of the Panuco district, is situated ~800 m to the east of the Napoleon Vein. Copala currently hosts Indicated Resources of 83.3 Moz AgEq at 573 g/t AgEq and Inferred Resources of 48.3 Moz AgEq at 476 g/t AgEq within a broad envelope of vein-breccia interlayered with host rock, up to 82 metres thick (please refer to our Technical Report on Updated Mineral Resource Estimate for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State, Mexico, by Allan Armitage, Ben Eggers and Peter Mehrfert, dated February 12, 2024 and Vizsla’s press release dated January 8, 2024). Observations by Vizsla geologists indicate Copala has an average dip of ~46° to the east (~35° in its northern sector and steepening to ~65° in the southern sector).

Exploration and resource focused drilling at Copala has traced mineralization along ~1,770 metres of strike length and ~400 metres down dip. Recent mapping, supported with LiDAR, led to the discovery of a historic mine adit on surface located at Copala Central. The location of the historic adit (see figure 2) combined with new 3D interpretations of drilling data highlight the potential for resource expansion up dip from the previously reported CS-24-356 hole containing visible gold (see press release dated June 26, 2024). This area is currently outboard of both the PEA mine plan and MRE boundary, representing an excellent target to expand high-grade mineralization closer to surface.

The 11 holes reported herein are from the recently completed ~5,000 metre drill program designed to infill and expand mineral resources at intermediate elevation and near surface in the central portion of the main Copala structure. Both primary target areas are situated outside the proposed first two years of mine production at Copala. Three infill holes continue to confirm high-grade continuity immediately adjacent to the areas designated for the first two years mining, whereas four holes drilled close to surface, have confirmed that high-grade mineralization extends up-dip by approximately 100 meters towards the recently discovered, historic Copala adit. Previous interpretations suggested that the up-dip projection of Copala was truncated by the Cristiano Vein. New interpretations based on recent mapping, new drill data and 3D modelling indicate Copala extends to the surface therefore creating potential for additional high-grade shoots extending up-dip above the intersection with the Cristiano Vein (red dash line in figure 2). Additionally, our updated 3D model has highlighted two vein intercepts in holes CS-22-156 and CS-22-182 that were previously reported for Cristiano, are now re-interpreted to be on Copala (see figures 1 and 2). Vizsla’s geologists are now preparing drill-hole proposals to explore other zones along-strike Copala where mineralization could extend near to surface.

Table 1: Downhole drill intersections from the holes reported for Copala and Copala 3 veins. Holes with “*” were reported previously for Cristiano vein.

Note: AgEq = Ag g/t x Ag rec. + (Au g/t x Au Rec x Au price/gram)/Ag price/gram. Metal price assumptions are $24.00/oz silver and $1,800/oz gold and metallurgical recoveries assumed are 91% for silver and 94% for gold. Gold and silver metallurgical recoveries used in this release are from metallurgical test results of the Copala vein (see press release dated August 16, 2023)

Table 2: Drillhole details for the reported drillholes. Coordinates in WGS84, Zone 13. Holes with “*” were reported previously for Cristiano vein.

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 17,856.5-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.

On January 8, 2024, the Company announced an updated mineral resource estimate for Panuco which includes an estimated in-situ indicated mineral resource of 155.8 Moz AgEq and an in-situ inferred resource of 169.6 Moz AgEq (please refer to our Technical Report on Updated Mineral Resource Estimate for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State, Mexico, by Allan Armitage, Ben Eggers and Peter Mehrfert, dated February 12, 2024 and to our Company´s press release dated January 8, 2024).

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 380,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver has budgeted +45,000 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.

Quality Assurance / Quality Control

Drill core 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 and rock samples were shipped to SGS Lab in Durango Mexico for sample preparation and analysis.  The ALS Zacatecas, North Vancouver facilities and SGS lab 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, Jesus Velador, Ph.D. MMSA QP, Vice President of Exploration, 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 structure. (CNW Group/Vizsla Silver Corp.)

Figure 2: Inclined longitudinal section for Copala structure with drillhole pierce points and location of the recently discovered historic adit on Copala. The section is 1x along strike to 1.4x along the dip to compensate for the average 46-degree dip of Copala. The black dash outlines represent Copala 3 sitting on the hanging wall of Copala. (CNW Group/Vizsla Silver Corp.)

Figure 3: Cross section showing Copala structure, Cristiano, Copala 3, and Tajitos veins with completed drilling. (CNW Group/Vizsla Silver Corp.)