VZLA.TO · 2020-08-27 12:00:00

Vizsla Makes Third Discovery, Drilling 1,019 G/T Silver Equiv. over 2.5 Metres at Papayo, 1 km North of Napoleon Discovery at Panuco, Mexico (VZLA-TSX-V)

Drill Results

Vizsla Makes Third Discovery, Drilling 1,019 G/T

Silver Equiv. over 2.5 Metres at Papayo, 1 km North of

Napoleon Discovery at Panuco, Mexico

(VZLA-TSX-V)

VANCOUVER, BC

Aug. 27, 2020

/CNW/ -

Vizsla Resources Corp.

(TSX-V: VZLA) (OTCQB: VIZSF) (

Frankfurt

0G3) ("

Vizsla

" or the "

Company

") is pleased to announce a third new discovery with the Company's first step-out

drill results along the Napoleon Vein Corridor at the

Panuco

silver-gold project ("

Panuco

" or the "

Project

") in

Mexico

. A total of three holes have been completed to date at the Papayo Zone, located over one kilometre ("

north of the initial Napoleon discovery with results from the first hole reported in this release. The Papayo Zone has

never previously been drilled and has high-grade outcropping samples along a jog in the vein similar to the initial

Napoleon discovery.

Drilling Highlight

NP-20-18

1,019 g/t silver equivalent (689.5 grams per tonne ("g/t") silver, 3.76 g/t gold, 0.25% lead and 0.63 % zinc) over

2.5 metres ("m") from

141.5m

including;

2,206 g/t silver equivalent (1,515.0 g/t silver, 7.96 g/t gold, 0.5% lead and 1.2 % zinc) over

1.0m

from

141.5m

Note: All numbers are rounded and widths represent downhole lengths. True widths are estimated at 78% of downhole lengths. Silver equivalent is calculated using the following formula: Silver-equivalent =

((Au_g/t x 52.48) + (Ag_g/t x 0.5289) + (Pb_ppm x 0.0013) + (Zn_ppm x 0.0013)) / 0.5627). Metal price assumptions are $17.50 g/t silver, $1,700 g/t gold, $0.75 pound lead and $0.85 pound zinc, recoveries

assumptions are 96% gold, 94% silver, 78% lead and 70% zinc based on similar deposit types. The Company is disclosing results on a silver equivalent basis due to the overall silver dominant nature of

mineralization at the Panuco project

Vizsla President and CEO,

Michael Konnert

, commented:

"I am very pleased to announce that we have made a

new, high-grade discovery a kilometre north from the original discovery at Napoleon. To have hit a high-grade

discovery on the first hole at Papayo is a clear demonstration of the scale and potential of both the Napoleon Vein

Corridor and the

Panuco

district. The Papayo zone has been defined over 90 metres of strike length in the current

holes and drilling will continue to step-out to define the full extent of the mineralization, which is open in all

directions. Vizsla is well-funded and we are rapidly progressing our exploration drilling program across the project

with

3,175m

completed in July and three of the four rigs now focused on new discoveries."

Plan map showing location of drill holes, mapped veins and surface and underground sampling at the Papayo

prospect on the Napoleon vein system.

Inset shows detail of drill collar locations. (CNW Group/Vizsla Resources

Corp.)

Drilling detail

The Papayo Zone was targeted as it has the same characteristics as the initial discovery at Napoleon with high

grades sampled at surface, small scale mining and a northwest jog of the vein creating a dilation zone to host

mineralization.

Mineralization is hosted in a wide complex fault zone hosted by andesite tuff. The zone contains milled breccias

within a clay matrix and narrower zones of clay gouge interspersed in larger zones of crackle brecciation. The

breccias show an early massive white quartz event that is cut by a later grey quartz veining event that entrains

variable amounts of the white quartz clasts.

The veins in each hole have similar textures with the quartz breccia veins containing 3 to 5% fine grained

disseminated pyrite as well as minor fine-grained galena, sphalerite and probable acanthite scattered across the

interval. The pyrite content is greater within the main vein in hole NP-20-19 than NP-20-18.

All three completed holes have intersected veining at approximately 80-

110m

below surface and the total distance is

over

90m

between hole NP-20-19 and NP-20-21. The drilling plan is to continue expanding the footprint of

mineralization to understand the size potential of the mineralized veins and the controls on vein widths and silver

grades.

Complete table of drillhole intersections

Drillhole

FROM

Width

Silver

Gold

Lead

Zinc

Silver Equivalent

Comment

(m)

(g/t)

(%)

(g/t)

NP-20-18

141.50

144.00

2.5

689.5

3.76

0.25

0.63

1,019.4

Main Vein

Incl

141.50

142.50

1.0

1,515.0

7.96

0.50

1.21

2,206.0

Main Vein

NP-20-19

Assays Pending

NP-20-21

Assays Pending

Table 1:

Downhole drill intersections from the holes completed at the Papayo Zone on the Napoleon Vein

Corridor.

assumptions are 96% gold, 94% silver, 78% lead and 70% zinc based on similar deposit types. The Company is disclosing results on a silver equivalent basis due to the overall silver dominant nature of

mineralization at the Panuco project

Drill Collar Information

Prospect

Drillhole

Easting

Northing

Elevation

Dip

Azimuth

Hole Depth

Papayo

NP-20-18

403330

2588071

546

-50

260

200.0

NP-20-19

403330

2588071

546

-49.5

222

198.8

NP-20-21

403330

2588071

546

-46

210

200.5

Table 2:

Drill hole details. Coordinates in WGS84, Zone 13.

Cross section through holes NP-20-18. (CNW Group/Vizsla Resources Corp.)

About the

Panuco

project

Vizsla has an option to acquire 100% of the newly-consolidated 9,386.5 Ha Panuco district in southern

Sinaloa,

Mexico

, near the city of Mazatlán. The option allows for the acquisition of over 75 km of total vein extent, a 500 tpd

mill, 35 kms of underground mines, tailings facilities, 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.

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

The Company's disclosure of technical or scientific information in this press release has been reviewed and

approved by

Stewart Harris

, P.Geo., an independent consultant for the Company. Mr. Harris is a Qualified Person

as defined under the terms of National Instrument 43-101.

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

development of

Panuco

, including drilling activities; future mineral exploration, development and production; and

completion of a maiden drilling program.

Forward–looking statements and forward–looking information relating to any future mineral production, liquidity,

enhanced value and capital markets profile of Vizsla, future growth potential for Vizsla 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's ability to operate in a safe and

effective manner and its ability to obtain financing on reasonable terms.

These statements reflect Vizsla'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 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's

management discussion and analysis. Readers are cautioned against attributing undue certainty to forward–looking

statements or forward-looking information. Although Vizsla 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 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.

SOURCE

Vizsla Resources Corp.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/August2020/27/c1820.html

%SEDAR: 00045314E

For further information:

and to sign-up to the mailing list, please contact: Michael Konnert, President and Chief

Executive Officer, Tel: (604) 838-4327, Email: [email protected]

CO: Vizsla Resources Corp.

CNW 10:13e 27-AUG-20

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