VZLA.TO · 2024-08-21 12:00:00

Vizsla Silver Provides Exploration Update ON Panuco Project: Outlines 10KM Drill Program to Test New Targets IN the East Area

Exploration Programs

VIZSLA SILVER PROVIDES EXPLORATION UPDATE ON PANUCO

PROJECT: OUTLINES 10KM DRILL PROGRAM TO TEST NEW TARGETS IN

THE EAST AREA

NYSE: VZLA TSX-V: VZLA

VANCOUVER, BC

Aug. 21, 2024

/CNW/ -

Vizsla Silver Corp.

(TSXV: VZLA) (NYSE: VZLA) (

Frankfurt

: 0G3) ("

Vizsla

" or the "

Company

") is pleased to provide

an update on resource expansion potential and outline its exploration plans to test high priority targets in the central and east areas of its flagship

Panuco

silver-

gold district (the "

Property

" or "

Panuco

") as well as other greenfield prospects located in

Sinaloa, Mexico

"With Panuco Project 1 now having been defined, the hunt for Project 2 begins,"

commented

Michael Konnert

, President and CEO.

"Since our initial discovery at

Napoleon, we have completed over 350,000 metres of diamond drilling, made several new discoveries and outlined a robust, high-grade resource base which

serves as the foundation for Panuco Project 1, located in the southwest corner of the district. We are now determined to identify the next epicenter of high-

grade mineralization in the central and/or east area of the district with the potential to host similar resources to that outlined in Project 1. To support this

objective, we have budgeted 10,000 metres of new exploration drilling for the remainder of the year designed to test highly prospective targets. These select

targets are based on an improved geologic understanding of the structural controls to mineralization as well as ongoing mapping, sampling, observations of

metal ratios and alteration and other exploration methods. Additionally, we will continue to enhance the resource base that informs the Project 1 PEA through

an expanded infill program targeting the first few years of production from

Copala

. This will culminate in a mineral resource update planned for late Q4 2024."

Key Exploration Objectives for 2024

Complete +10,000 metres of exploration drilling in the central-east area of the district.

Complete +5,000 meters of resource infill/expansion drilling in

Copala

central.

Complete VTEM, airborne mag and radiometric surveys on 950 l-km.

Advance mapping of the district to 70% coverage.

Provide updated resource estimate in Q4 2024.

Webcast

Vizsla Silver will be hosting a webcast at

9:30 am PT

(

12:30 pm ET

) on

Thursday, August 22, 2024

, to present and discuss the geology of the

Panuco

district and

outline its exploration plans and objectives for the remainder of the year. To register, please click

here

Exploration Approach and Organic Growth

The foundation of Vizsla's exploration approach for organic growth consists of detailed mapping, rock chip sampling aided by a LiDAR DTM model of the district

and diamond drilling. Other initiatives such as alteration mapping with the use of Terraspec ASD® and 3D modelling of alteration minerals and metal ratios support

prioritizing prospective targets. Additionally, ground Electro-Magnetics ("

"), airborne magnetics, high-resolution multispectral satellite imagery, age dating and

more recently AI and machine learning-based targeting done by VRIFY have been key for targeting. Furthermore, in 2023, the Company established a technical

committee with Dr.

Peter Megaw

and Dr.

Craig Gibson

(Prismo Metals Inc.) to further enhance the knowledge of the district and to augment the probability of

finding new mineralized centers (see Press Release dated

April 26, 2023

Vizsla's exploration approach and programs completed to date have resulted in a significantly improved geologic understanding of the district and have

successfully defined multiple layers of exploration upside radiating out from the current center of mass in the west. This center of mass, referred to as Project 1,

hosts ~98% of the current mineral resources and is the focus of the recently published PEA (see Press Release related to mineral resources update from

January

8, 2024

, and PEA from

July 24, 2024

). Project 1 upside potential consists of 1) expansions to open resources on known structures and 2) proximal targets

located within hauling distance to the proposed PEA processing location in the west area.

Beyond expanding resources and testing targets which support Project 1 in the west, Vizsla is committed to finding additional mineralized centers in the central

and east areas of the district. Through the application of Vizsla´s exploration approach and initiatives across the district, the Company has defined several district-

wide targets it plans to test in H2 2024, which have the potential to host similar resources to that of Project 1.

Additionally, the recent acquisitions of the La Garra and

San Enrique

properties have significantly increased Vizsla's land package in the emerging and highly

prospective

Panuco

San Dimas

corridor situated on the Western Mexico Silver belt. This adds yet another layer of blue-sky exploration upside potential. The

Company has already started building a GIS database of the region and plans to apply the same exploration approach that has been successful at the contiguous

Panuco

property to these two prospects in the future.

Figure 1: Plan map of the Panuco property highlighting proximal exploration targets in the west (orange circle) and high priority district-wide targets in the central-

northeast areas (blue circles). (CNW Group/Vizsla Silver Corp.)

Enhancing Project 1:

Since data cut-off for drill results to be included in the current MRE (

September 1, 2023

), Vizsla has completed over 65,000 metres of drilling designed to upgrade

and expand mineral resources in the western portion of the district, particularly on the

Copala

, Napoleon and La Luisa veins.

To date, exploration and resource drilling at

Copala

has traced mineralization along ~1,770 metres of strike length and ~400 metres down dip and measuring ~10

metres (~33 feet) thick on average. Three vein splays have also been discovered at

Copala

3 is situated on the hanging-wall side of the main

Copala

structure, while

Copala

2 and

Copala

4 are located on the footwall side, between the high-grade

Cristiano Vein

and

Copala

main.

Our most recently completed

Copala

infill program (~10,000 metres at ~25 metre centers) has successfully confirmed high-grade precious metal continuity within

the area planned for the first two years of mine production (see Press Release dated

July 9, 2024

for preliminary results). Given the ongoing success of

Copala

infill drilling, and the new discovery of a historic mine adit exposing the Copala Vein approximately 200 metres above the current resource boundary, Vizsla has

expanded its

Copala

infill program by an additional 5,000 metres (see Figure 2).

Figure 2. Longitudinal section of Copala vein with mineral resources, planned stopes, drill-hole intercepts and location of the recently discovered Copala adit.

(CNW Group/Vizsla Silver Corp.)

Infill drilling completed at the southern extent of the Napoleon area has also demonstrated mineral continuity along the main Napoleon structure and splay veins,

particularly the high-grade, shallow dipping Hanging Wall 4 ("

HW4

") splay vein. Drilling results and observations based on metal zonation and alteration continue to

support the interpretation that the corridor is tilted, where the southern extent of drilling is at the top of the mineralized horizon, near surface. Ongoing analysis of

core samples and 3D modelling of metal ratios and alteration minerals have further enhanced our understanding of the local controls on mineralization and have

defined vectors to three potential feeder zones along the main

Napoleon Vein

At HW4, recent infill drilling has returned higher than average grade silver and gold values. The HW4 vein dips to the east at a shallow angle (35° to 55°) and is

situated within the hanging wall side of the main Napoleon vein. HW4 remains open to the east, particularly in its southern extent where the vein shows higher

silver and gold grades.

Other notable targets included the Cruz Negra and La Luisa Veins. At La Luisa, recent exploration has not only expanded the zones mineralized footprint well

beyond the 2024 MRE boundary, but new alteration mapping with the aid of Terraspec®, has validated Vizsla's local exploration model. At La Luisa, the Company

has identified a 400-metre gap between the current mineral resource boundary and seven exploratory holes in the north. Furthermore, two potential feeder zones

within a target depth horizon have been interpreted through geologic modelling and observed metal ratios. Cruz Negra, located between La Luisa and Napoleon

main, remains open along strike to the north, and the more recent discovery,

El Molino

, which is a high-grade northeast trending vein discovered through

condemnation drilling between Napoleon and

Copala

in 2023 is open in all directions. Other proximal targets in the west area include 4 de Mayo, the potential

Colorada-Napoleon intersection, Esmeralda-Tecolote, San Jack and San Peter.

Resource Extension Targets:

The

Copala

structure remains open down-dip in the south and along strike to the north. Additionally, with the recent discovery of the historic

Copala

adit,

potential for high-grade mineralization closer to surface in the central portion of the vein has been confirmed.

Napoleon HW4 is a shallow dipping vein that splays off to the east from main Napoleon. Drilling targeting main Napoleon has reported multiple high-grade

intercepts along HW4 that warrant future resource expansion down dip to the east.

La Luisa remains open at depth and along strike to the southeast and to the north in the 400 metre gap zone. Additionally, geologic modelling and observed

metal ratios suggest two potential feeder zones at depth that warrant future drill-testing.

Cruz Negra is a relatively narrow (average thickness), gold-rich vein trending northwest that splays off from the Josephine Vein (situated parallel to

Napoleon). Open-ended intercepts completed in 2022 suggest that mineralization continues to the northwest in the direction of the Alacran Vein in the

northwest. The 500 metre gap between Cruz Negra drilling in the southeast and

Alacran

in the northwest warrant future exploration drilling.

Proximal Targets:

4 de Mayo is a set of subvertical narrow veins trending northwest located west of La Luisa. Scout drilling in the area has reported some high-grade silver

intercepts close to surface. The 4 de Mayo vein shows strong pinch and swell characteristics but remains open to the south and at depth.

Colorada-Napoleon intersection is a conceptual target located at the projected intersection of the Colorada Vein and the northern extent of Napoleon, where

indications of good structural preparation exist. This target has been validated by preliminary AI and Machine Learning analysis done by VRIFY.

Esmeralda-Tecolote is a set of two epithermal veins discovered through mapping. Sampling on the veins and vein textures suggest a high level in the

epithermal profile and warrants drill testing in the future.

San Jack and San Peter are two parallel structures that show subtle quartz veining and strong hydrothermal alteration on surface. These structures are

located west of Napoleon and La Luisa, in the southwest dipping, western block of the district. Extrapolation of our working exploration model applied at

Napoleon and La Luisa suggests that vein mineralization could occur below the rhyolite tuffs exposing veining and alteration.

Table of Top 20 Drill Composites drilled post

September 1, 2023

, cut-off date.

Drillhole

From

Downhole

Length

Estimated

True width

AgEq

Vein

(m)

(g/t)

CS-24-356

219.00

223.90

4.90

4.20

1,694

103.20

8,817

Copala

Includes

219.85

220.60

0.75

0.64

9,920

663.00

55,769

NP-24-429

433.75

435.10

1.35

1.30

2390

28.10

2.19

9.61

4,533

HW4

CS-24-352

211.80

217.25

5.45

5.00

1,378

22.95

2,872

Copala

Includes

213.00

216.00

3.00

2.75

2,115

39.10

4,681

NP-24-431

428.55

431.15

2.60

2.40

1,551

14.08

0.97

3.84

2,561

HW4

Includes

428.55

429.90

1.35

1.24

2460

23.20

1.57

6.10

4,121

CS-24-347

287.85

294.00

6.15

6.00

1,882

10.31

2,440

Copala

Includes

289.00

291.45

2.45

2.39

3,859

20.51

4,957

CS-24-366

348.85

357.00

8.15

7.00

1,898

9.51

2,398

Copala 3

Includes

348.85

349.50

0.65

0.56

3,950

25.40

5,385

Includes

351.00

352.50

1.50

1.29

3,430

18.95

4,457

Includes

352.80

354.00

1.20

1.03

3,200

13.00

3,829

NP-23-359

80.00

82.05

2.05

1.65

1,552

8.37

0.47

1.22

2,066

El Molino

Includes

80.90

82.05

1.15

0.93

2,630

14.20

0.62

1.57

3,480

CS-23-304

468.00

471.30

3.30

2.80

1,366

6.80

1,722

Copala

Includes

468.85

469.50

0.65

0.55

5,320

25.20

6,618

CS-24-354

153.50

168.30

14.80

13.00

1,017

8.19

1,503

Copala

Includes

153.50

155.10

1.60

1.40

4,124

35.11

6,229

Includes

157.55

159.05

1.50

1.31

2,540

21.30

3,813

CS-24-344

561.95

573.90

11.95

8.70

1,096

5.18

1,363

Copala

Includes

563.10

564.00

0.90

0.66

8,720

36.60

10,516

CS-24-362

344.60

346.10

16.10

10.50

804

5.27

1,103

Copala

Includes

337.50

339.75

2.25

1.47

3,437

24.87

4,881

CS-24-359

332.15

341.65

9.50

7.80

788

4.40

1,027

Copala 3

Includes

336.25

337.30

1.05

0.86

5,010

25.30

6,343

Includes

341.00

341.65

0.65

0.53

1,360

7.26

1,749

CS-24-357

347.00

347.45

14.45

10.90

762

2.80

891

Copala

Includes

345.50

347.45

1.95

1.47

3,805

13.58

4,419

CS-24-342

627.60

634.25

6.65

6.00

487

3.69

703

Copala

NAP-2023-004

108.45

119.35

10.90

6.50

328

4.32

0.79

2.11

696

Napoleon

Includes

109.12

115.25

6.13

3.65

505

6.33

2.89

0.10

1,038

COP-2023-004

195.75

202.10

6.35

5.10

318

5.23

658

Copala

Includes

197.65

198.00

0.35

0.28

338

16.00

1,436

Copala

Includes

200.90

202.10

1.20

0.96

1,270

13.45

2,104

Copala

NP-23-419

564.00

572.45

8.45

3.25

7.74

0.73

1.44

650

La Luisa Main

Includes

567.00

568.60

1.60

0.62

16.74

0.27

0.99

1,220

NP-23-420

414.60

418.25

3.65

2.80

6.97

0.11

0.17

568

La Luisa Main

Includes

415.60

417.50

1.90

1.46

116

11.50

0.05

0.07

888

COP-2023-001

145.30

158.90

13.60

240

1.61

332

Copala

Includes

146.00

147.10

1.10

1,075

11.55

1,793

NP-23-397

670.15

679.85

9.70

8.70

1.44

0.17

2.45

221

La Luisa Main

Includes

670.15

671.55

1.40

1.26

6.55

0.54

1.32

577

Note: AgEq = Ag g/t x Ag rec. + ((Au g/t x Au Rec x Au price/gram)+(Pb% x Pb rec. X Pb price/t) + (Zn% x Zn rec. X Zn price/t))/Ag price/gram. Metal price assumptions are $24.00/oz silver, $1,800/oz gold, $2,424.4/t lead and $2,975.4/t zinc. Metallurgical recoveries assumed for Copala are

91% for silver and 94% for gold (see press release dated August 16, 2023). Metallurgical recoveries assumed Napoleon veins and La Luisa are 93% for silver, 90% for gold, 94% for lead and 94% for zinc (see press release dated February 17, 2022).

The Hunt for Project 2:

Since consolidation of the

Panuco

district, Vizsla has continuously conducted detailed geologic mapping and rock chip sampling. To date Vizsla has mapped ~67%

of the district at a 1:1,000 scale and has collected over 5,000 rock chip samples. The mapping and sampling efforts, supported by LiDAR, have allowed the

Company to define over 158 targets, in the district, of which 43 have been tested. For the remainder of 2024, Vizsla has planned a fully funded 10,000 metre

exploration drill program designed to test multiple veins in five high-priority target areas: Camelia-San Dimas, Animas-Triunfo,

Galeana

, San Fernando-Nacaral

and

Jesusita-Palos Verdes

Other important initiatives planned for Q4 2024 include a geophysical survey consisting of VTEM, airborne mag and radiometrics on ~950-line km at 100 metres

at 100 metres spacing. Information derived from these surveys will be applied in combination with other tools on hand such as, geology, geochemistry, alteration

and multi-spectral World View III satellite imagery to define new exploration targets and locate additional mineralized centers. Geologic evidence that supports the

presence of multiple mineralized centers include: intrusions with different age and composition, ubiquitous presence of dikes and domes, extensive hydrothermal

alteration across the district, many vein prospects and a vast amount of veins with variable orientations, geochemistry and recently determined

Ar/

Ar age

dates that resolved mineralization at

Copala

and Napoleon at 25.81 ± 0.05 Ma and 25.72 ± 0.06 Ma (identical age within error) and sericite alteration at the

Guayanera dome along the Animas vein trend at 32.14 ± 0.17 Ma. The age gap of ~6 My between epithermal mineralization in the west and hydrothermal

alteration (activity) farther east, supports the hypothesis that multiple hydrothermal centers operated in the district over time.

District Targets:

Notable targets to be tested in Q4 2024 located in the central and east areas of the district with potential to host similar mineral resources to that outlined in

Project 1 in the west include:

Camelia-

San Dimas

, which consists of two almost vertical subparallel veins in the Camelia trend and the high-grade, flat lying and east dipping, San Dimas

Vein. The San Dimas Vein is the highest ranked target due to its features that make it similar to

Copala

Animas-Triunfo is a target designed to test recent interpretations based on mapping, that indicates that the Animas Vein extends to the southeast, in the

direction of the Camelia-San Dimas target veins.

The

Galeana

target is a northeast trending vein with significant silver anomalies observed on surface. More importantly, geologic mapping suggests that

exposed outcrops of the Galeana Vein occur proximal to the paleosurface, thus providing great potential for deep drilling.

San Fernando-Nacaral are two parallel veins, that similar to the

Galeana

target, show indications of great exploration potential at depth.

Jesusita-Palos Verdes

is a northeast trending vein target in the east area of the district. Positive drill results and alteration-based interpretations done by

Prismo, combined with significant silver anomalies on surface and spectacular vein outcrops warrant additional deep drilling.

Greenfields Projects:

La Garra

The La Garra-Metates District, comprised of 16 claims covering 16,962 Ha, is located approximately 32 km north-northwest of the Panuco Project and 32 km

south-southwest of First Majestic's flagship

San Dimas

mine. The district contains N-NNW-trending silver-gold-rich epithermal veins in a geological setting akin to

that of the Panuco Project and

San Dimas

. Two main vein systems are known to date: the N-S trending La Garra with ~2.6 km of known strike length and the NW

trending

Cerro Verde

–

Las Playas

vein system with ~1.8 km of strike length.

December 2023

, Vizsla Silver conducted a five-day site visit and collected 37 samples on vein outcrops and underground pillars on La Garra and

Cerro Verde

–

Las Playas

vein systems: fourteen rock-chip samples collected across veins ranging from 0.30 to 2.50 metres reported silver equivalent grades (AgEq) greater

than 200 g/t (2.22 to 12.30 g/t Au and 22 to 1,156 g/t Ag). Because of its favourable location in the emerging

Panuco

–

San Dimas

silver-gold-rich corridor, its

geologic setting, vein orientation and observed high-grades, Vizsla Silver's geologists are confident that the La Garra-Metates District has good potential for a

discovery of high-grade mineralization along-strike and at depth on the La Garra and

Cerro Verde

–

Las Playas

vein systems.

San Enrique

The

San Enrique

prospect area is adjacent to the southern boundary of the

Panuco

project and comprises two titled mining claims covering 10,667.0 Ha. LiDAR

and high-resolution mag data show strong NW-trending lineaments, indicative of regional faults and fractures. Two of these lineaments are aligned and seem to be

the SE extensions of the

Copala

fault and the Cordon del

Oro

- Animas vein structures at

Panuco

. The

San Enrique

prospect contains several indicators that

suggest it is a highly prospective area, namely: location (

Panuco

–

San Dimas

corridor), high-grade deposits immediately north (

Copala

and

Panuco

), structural

controls (southeast extensions of the

Copala

fault and Cordon - Animas lineament), domes and an operating mine to the south along another NW regional fault

(

Santa Fe

mine, Inca Azteca). The recently acquired multispectral World View III satellite image covering the

Panuco

and

San Enrique

claims will help Vizsla with

target definition at

San Enrique

Key Exploration Objectives for 2024

Complete +10,000 metres of exploration drilling in the central-east area of the district.

Complete +5,000 meters of resource infill/expansion drilling in

Copala

central.

Complete VTEM, airborne mag and radiometric surveys on 950 l-km.

Advance mapping of the district to 70% coverage.

Provide updated resource estimate in Q4 2024.

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.

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 368,000 metres of drilling at

Panuco

leading to the discovery of

several new high-grade veins. For 2024, Vizsla Silver has budgeted +30,000 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.

Information Concerning Estimates of Mineral Resources

The scientific and technical information in this news release was prepared in accordance with NI 43-101 which differs significantly from the requirements of the

U.S. Securities and Exchange Commission (the "SEC"). The terms "measured mineral resource", "indicated mineral resource" and "inferred mineral resource"

used herein are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the "CIM Definition Standards"),

which definitions have been adopted by NI 43-101. Accordingly, information contained herein providing descriptions of our mineral deposits in accordance with NI

43-101 may not be comparable to similar information made public by other U.S. companies subject to

the United States

federal securities laws and the rules and

regulations thereunder.

You are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "inferred

mineral resources" are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and

sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of

confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the

majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred

mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of

an inferred mineral resource is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian

regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and

grade without reference to unit measures.

Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective

February 25,

2019

, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC

Modernization Rules"), with compliance required for the first fiscal year beginning on or after

January 1, 2021

. The SEC Modernization Rules replace the historical

property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes

estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". Information regarding mineral resources contained or

referenced herein may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization

Rules are purported to be "substantially similar" to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization

Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral resources that the Company may report as "measured mineral

resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the resource

estimates under the standards adopted under the SEC Modernization Rules.

Website:

www.vizslasilvercorp.ca

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

; the publication of an updated

mineral resource estimate in late Q4 2024; and exploration objectives and targets.

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.

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For further information:

Contact Information: For more information and to sign-up to the mailing list, please contact: Michael Konnert, President and Chief

Executive Officer, Tel: (604) 364-2215, Email: [email protected]

CO: Vizsla Silver Corp.

CNW 06:00e 21-AUG-24

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