VIZSLA SILVER ANNOUNCES FILING OF UPDATED TECHNICAL REPORT

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Vizsla Silver (TSX: VZLA) (NYSE: VZLA) has filed an updated Technical Report for its Panuco silver-gold project, following the January 6, 2025 news release. The report, effective September 9, 2024, includes an updated mineral resource estimate and complies with National Instrument 43-101 standards.

The Technical Report was prepared by experts from SGS Geological Services and Ausenco Engineering Canada ULC, including Allan Armitage, Ben Eggers, Henri Gouin, Peter Mehrfert, James Millard, Scott Elfen, and Jonathan Cooper. The report is available on SEDAR+ and the company's website.

NYSE: VZLA     TSX: VZLA

VANCOUVER, BC, Feb. 20, 2025 /PRNewswire/ - Vizsla Silver Corp. (TSX: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla Silver" or the "Company") is pleased to announce that, further to its news release dated January 6, 2025, it has filed an independent technical report (the "Technical Report") containing an updated mineral resource estimate on the Company's Panuco silver-gold project. The Technical Report has an effective date of September 9, 2024, and was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") by Allan Armitage, Ph. D., P. Geo., Ben Eggers, MAIG, P.Geo., and Henri Gouin, P.Eng.  of SGS Geological Services and Peter Mehrfert, P.Eng., James Millard, P.Geo., Scott Elfen, P.E., and Jonathan Cooper, P.Eng. of Ausenco Engineering Canada ULC.

The Technical Report can be found under the Company's profile on SEDAR+ (www.sedarplus.ca) and is also available on the Company's website (www.vizslasilvercorp.com).

Qualified Person

The independent Qualified Person for the updated mineral resource estimate is by Allan Armitage, Ph.D., P.Geo., of SGS Geological Services, who has reviewed and approved the contents of this release. 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 validated and approved the technical and scientific content of this news release.

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. The Company recently completed a Preliminary Economic Study for Panuco 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. Vizsla Silver aims to become the world's leading silver company by implementing a dual track development approach at Panuco, advancing mine development, while continuing district scale exploration through low-cost means.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release includes certain "Forward–Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward–looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward–looking statements or information. These forward–looking statements or information relate to, among other things: the exploration, development, and production at Panuco, including plans for resource/discovery-based drilling, designed to upgrade, and expand the maiden resource as well as test other high priority targets across the district.

Forward–looking statements and forward–looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Vizsla Silver, future growth potential for Vizsla Silver and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold, and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Vizsla Silver's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect Vizsla Silver's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and Vizsla Silver has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities in Mexico; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health

and safety; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in Vizsla Silver's management discussion and analysis. Readers

are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although Vizsla Silver has attempted to identify important factors that could cause actual results to differ materially,

there may be other factors that cause results not to be anticipated, estimated or intended. Vizsla Silver does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

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SOURCE Vizsla Silver Corp.

FAQ

When was the updated Technical Report for Vizsla Silver's Panuco project filed?

Vizsla Silver (VZLA) filed the updated Technical Report on February 20, 2025, following their January 6, 2025 news release.

What is the effective date of VZLA's new Panuco project Technical Report?

The Technical Report for Vizsla Silver's Panuco silver-gold project has an effective date of September 9, 2024.

Who prepared the updated Technical Report for Vizsla Silver's Panuco project?

The Technical Report was prepared by experts from SGS Geological Services and Ausenco Engineering Canada ULC, including Allan Armitage, Ben Eggers, Henri Gouin, Peter Mehrfert, James Millard, Scott Elfen, and Jonathan Cooper.

Where can investors access VZLA's updated Technical Report for the Panuco project?

The Technical Report is available on SEDAR+ (www.sedarplus.ca) and on Vizsla Silver's website (www.vizslasilvercorp.com).