VIZSLA SILVER FILES PEA TECHNICAL REPORT ON THE PANUCO PROJECT

Rhea-AI Summary

Vizsla Silver Corp. (VZLA) has filed a technical report titled 'Panuco Project – NI 43-101 Technical Report and Preliminary Economic Assessment' (PEA) with an effective date of July 24, 2024. The PEA, independently completed by Ausenco Engineering Canada ULC, supported by Entech Mining and SGS Canada Inc., is now available on SEDAR+ and the company's website. This report follows the previously announced PEA results on July 24, 2024, providing a comprehensive economic assessment of the Panuco Project. The filing of this technical report marks a significant milestone for Vizsla Silver, offering investors and stakeholders detailed insights into the project's potential economic viability and future prospects.

Positive

• Filing of the PEA technical report, indicating progress in project development
• Independent completion of the PEA by reputable firms, enhancing credibility
• Availability of the report on SEDAR+ and company website, improving transparency

Negative

• None.

Mining Industry Analyst

The filing of Vizsla Silver's PEA for the Panuco Project is a significant milestone for the company. PEAs are important for evaluating the economic viability of mining projects and often serve as a catalyst for investor interest. Key points to consider:

• The PEA's completion suggests the project has reached a more advanced stage of development, potentially de-risking the investment.
• Investors should focus on the economic indicators within the PEA, such as Net Present Value (NPV), Internal Rate of Return (IRR) and payback period, which will provide insights into the project's potential profitability.
• The involvement of reputable firms like Ausenco and SGS adds credibility to the report's findings.

While positive, it's important to remember that PEAs are based on preliminary assessments and actual results may vary. Investors should review the full report to understand the assumptions and potential risks associated with the project.

Financial Analyst

The filing of Vizsla Silver's PEA is a positive development for the company's valuation prospects. Here's why it matters:

• PEAs often serve as a valuation catalyst, potentially leading to a re-rating of the stock if the economic projections are favorable.
• The report's availability on SEDAR+ enhances transparency, allowing investors and analysts to scrutinize the project's economics in detail.
• If the PEA demonstrates robust economics, it could attract institutional investors and possibly lead to easier access to capital for future development stages.

However, investors should note that the market's reaction will depend on how the PEA's projections compare to expectations. It's also important to consider that further studies (pre-feasibility, feasibility) will be required before a production decision can be made, each potentially impacting the company's valuation.

NYSE: VZLA     TSXV: VZLA

VANCOUVER, BC, Aug. 28, 2024 /PRNewswire/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla" or the "Company") is pleased to announce the filing of a technical report titled, "Panuco Project – NI 43-101 Technical Report and Preliminary Economic Assessment" (the "PEA"), with an effective date of July 24, 2024. The PEA was independently completed for the Company by Ausenco Engineering Canada ULC, supported by Entech Mining Ltd. and SGS Canada Inc., in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The results of the PEA were previously announced in the Company's news release dated July 24, 2024.

The PEA is available under Vizsla Silver's SEDAR+ profile at www.sedarplus.ca or on the Company's website at www.vizslasilvercorp.com.

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; 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

What is the effective date of Vizsla Silver's (VZLA) Panuco Project PEA?

The effective date of Vizsla Silver's (VZLA) Panuco Project Preliminary Economic Assessment (PEA) is July 24, 2024.

Who completed the PEA for Vizsla Silver's (VZLA) Panuco Project?

The PEA for Vizsla Silver's (VZLA) Panuco Project was independently completed by Ausenco Engineering Canada ULC, supported by Entech Mining and SGS Canada Inc.

Where can investors find Vizsla Silver's (VZLA) Panuco Project PEA report?

Investors can find Vizsla Silver's (VZLA) Panuco Project PEA report on SEDAR+ at www.sedarplus.ca or on the company's website at www.vizslasilvercorp.com.

What is the full title of the technical report filed by Vizsla Silver (VZLA)?

The full title of the technical report filed by Vizsla Silver (VZLA) is 'Panuco Project – NI 43-101 Technical Report and Preliminary Economic Assessment'.