Vizsla Silver Strengthens Leadership with Eduardo Luna as Lead Director

• Vizsla Silver has appointed Eduardo Luna, a Mexican Mining Hall of Fame member with four decades of experience, as Lead Director to guide the company's development strategy.
• The company holds substantial precious metals resources totaling 222.4 million ounces silver equivalent in measured and indicated categories at its Panuco project in Mexico.
• Luna's direct experience developing the San Dimas Mine provides valuable expertise for Panuco development, given the geological similarities between the two projects.
• The company has implemented performance-based compensation tied to Feasibility Study completion, aligning management incentives with project advancement.
• Panuco benefits from existing infrastructure including 86 kilometers of vein extent, 35 kilometers of underground mines, and established power and transportation access.

Vizsla Silver Corp. (TSX: VZLA; NYSE: VZLA; Frankfurt: 0G3) is a Canadian precious metals company focused on developing the Panuco silver-gold project in Sinaloa, Mexico. The company has consolidated a significant mining district spanning 7,189.5 hectares with substantial historical infrastructure and an updated mineral resource estimate of 222.4 million ounces silver equivalent in measured and indicated categories. As Vizsla advances toward becoming a leading silver producer, the company has strengthened its board leadership by appointing Eduardo Luna, an industry veteran with four decades of Mexican mining experience, as Lead Director.

The appointment represents a strategic move to leverage Luna's extensive expertise in developing world-class mining operations in Mexico, particularly his experience with the San Dimas Mine, which shares geological similarities with Vizsla's flagship Panuco project. This leadership enhancement comes as the company progresses toward feasibility studies and potential development of what could become one of Mexico's significant silver-gold operations.

Eduardo Luna's Appointment & Industry Recognition

Eduardo Luna's elevation to Lead Director builds upon his role as an independent board member since November 15, 2023. The appointment recognizes his significant contributions to the mining industry and his specific expertise in Mexican operations. Luna's career achievements include leadership roles at prominent mining companies such as Goldcorp, Wheaton River, and Primero Mining, where he played instrumental roles in developing major Mexican mining operations.

Chairman Craig Parry emphasized the strategic importance of Luna's appointment, stating:

"It is a privilege to announce Eduardo Luna's appointment as Lead Director of Vizsla Silver. Eduardo Luna is one of Mexico's most respected mining leaders and a member of the Mexican Mining Hall of Fame. Over a career spanning four decades, he has guided world-class companies such as Goldcorp, Wheaton River, and Primero Mining, playing a key role in developing some of Mexico's most important mines, including San Dimas."

Luna's recognition as a member of the Mexican Mining Hall of Fame underscores his standing within the industry and his deep understanding of the regulatory, operational, and geological landscape in Mexico. His academic credentials include a degree in Mining Engineering from the University of Guanajuato, where he now serves as Chairman of the Advisory Board of the Faculty of Mines.

Strategic Value of Luna's Experience

The appointment carries particular significance due to Luna's direct experience with the San Dimas Mine in Durango, Mexico. This operation serves as a direct geological analogue to Vizsla's Panuco project, sharing similar host geology and mineralization styles. Luna's intimate knowledge of developing and operating such deposits provides valuable strategic perspective as Vizsla advances its project through feasibility studies toward potential production.

Parry highlighted this strategic alignment, noting:

"Since joining the Board as an independent director in November 2023, Mr. Luna has played an instrumental role in Vizsla Silver's success as we advance towards becoming one of the world's leading silver producers. Eduardo's leadership and expertise will continue to be invaluable as we drive the Panuco district into its next phase of development."

Luna's current board positions demonstrate his continued active involvement in the mining sector. He serves on the Board of Directors at Coeur Mining and holds the Chairman position at Rochester Resources. His previous role as a director of Wheaton Precious Metals further demonstrates his experience with precious metals companies and streaming arrangements.

Panuco Project Resource Base & Development Potential

Vizsla's Panuco project represents a significant silver-gold opportunity in Mexico's mining sector. The project benefits from substantial historical infrastructure, including 86 kilometers of total vein extent and 35 kilometers of existing underground mines, along with established roads, power infrastructure, and operating permits. This existing infrastructure provides potential cost advantages and reduced development timelines compared to greenfield projects.

The geological characteristics of the Panuco district align with proven deposit types in the region. The deposits are classified as intermediate to low sulfidation epithermal silver and gold systems related to siliceous volcanism and crustal extension during the Oligocene and Miocene periods. The host rocks are primarily continental volcanic rocks correlated to the Tarahumara Formation, representing well-understood geological settings for precious metals mineralization.

The company's updated mineral resource estimate, announced January 6, 2025, established the project's substantial resource base. The estimate includes 222.4 million ounces silver equivalent in measured and indicated categories, with an additional 138.7 million ounces silver equivalent in inferred resources. These figures represent in-situ resources and provide the foundation for ongoing feasibility studies and development planning.

Performance Incentive Structure & Development Timeline

Concurrent with Luna's appointment, Vizsla announced the granting of 1,550,000 performance-based restricted share units (PRSUs) to officers, employees, and consultants under the company's Omnibus Equity Incentive Compensation Plan. The vesting structure of these units directly ties compensation to project advancement, with equal installments vesting over three years beginning one year after the announcement of the Feasibility Study for the Panuco project.

This incentive structure aligns management and employee interests with successful project development and demonstrates the company's confidence in advancing Panuco through critical development milestones. The performance-based nature of the grants ensures that rewards are tied to tangible progress toward bringing the project into production.

The vesting timeline suggests the company anticipates completing its Feasibility Study within a reasonable timeframe, providing a clear benchmark for measuring development progress. All PRSUs remain subject to Toronto Stock Exchange approval and the terms of the company's equity compensation plan.

Geological Setting & Regional Context

The Panuco project's location in southern Sinaloa, near Mazatlán, positions it within an established mining region with supporting infrastructure and skilled workforce availability. The project's geological setting within the broader Mexican epithermal belt provides additional context for its development potential, as this region has produced numerous successful precious metals operations.

The district's 7,189.5-hectare area encompasses significant exploration potential beyond the current resource estimate. The extensive vein systems and historical mining activity suggest potential for resource expansion through continued exploration and development activities. The combination of proven resources and exploration upside provides multiple avenues for value creation as the project advances.

Investment Considerations & Market Position

Vizsla Silver's strategic positioning in the silver market comes at a time of continued interest in precious metals investments. The company's substantial resource base, combined with existing infrastructure and experienced leadership, positions it as a potential significant player in silver production. Luna's appointment strengthens the company's ability to navigate the complexities of mine development in Mexico and leverage his extensive network and expertise.

The performance-based incentive structure demonstrates management's commitment to advancing the project efficiently while aligning interests with shareholders. The company's dual listing on major exchanges (TSX and NYSE) provides liquidity and accessibility for institutional and retail investors.

For investors evaluating Vizsla Silver, key considerations include the company's substantial resource base of over 360 million ounces silver equivalent, the strategic leadership enhancement through Luna's appointment, and the project's favorable infrastructure position. The company's focus on advancing through feasibility studies toward potential production provides clear milestones for measuring progress and value creation.

For Investors

Vizsla Silver's appointment of Eduardo Luna as Lead Director represents a strategic enhancement to the company's leadership as it advances the Panuco project toward development. Luna's extensive experience in Mexican mining operations, particularly his work on geologically similar deposits, provides valuable expertise for navigating the complexities of bringing a major silver-gold operation into production. The company's substantial resource base, existing infrastructure advantages, and performance-oriented management structure position it as a noteworthy opportunity in the precious metals sector. Investors should monitor the company's progress toward completing its Feasibility Study, which will provide crucial metrics for evaluating the project's economic viability and development timeline.