Vizsla Silver Unveils Robust 2025 Outlook Advancing Flagship Panuco Project in Mexico

• Vizsla Silver achieved major milestones in 2024, advancing its Panuco project from exploration to early-stage development.
• An updated resource estimate and positive PEA showcased robust project economics and potential for mine life extension.
• Key 2025 objectives include advancing the Copala test mine, delivering a Feasibility Study, and ongoing exploration drilling.
• Vizsla Silver is well-funded with over US$92 million in cash and no debt as it progresses Panuco towards planned production in 2027.
• The company remains committed to responsible development, prioritizing health, safety, environment and community engagement.

Vizsla Silver Corp. (TSXV:VZLA) is a Canadian mineral exploration and development company focused on advancing its 100%-owned flagship Panuco silver-gold project in Sinaloa, Mexico. The company recently completed a robust Preliminary Economic Assessment (PEA) for Panuco which outlines compelling economics. Vizsla aims to become a leading silver producer by pursuing a dual-track strategy of mine development and ongoing exploration across the highly prospective district.

2024: A Transformative Year

2024 marked a transformative period for Vizsla Silver as it rapidly advanced the Panuco project. Under the leadership of newly appointed COO Simon Cmrlec, the company focused on derisking key areas to maximize potential economic returns. Michael Konnert, President & CEO commented:

“2024 was a transformative year for Vizsla Silver. With an updated resource estimate in January 2024 serving as the backbone for the first ever Panuco PEA,published in July, Vizsla Silver went from early-stage exploration to early-stage development."

Major achievements included:

• Publishing a positive PEA in July 2024 outlining annual production of 15.2 Moz AgEq over a 10.6 year mine life, with an after-tax NPV5% of US$1.1B, 86% IRR and 9-month payback
• Upgrading and expanding the resource base, with 222 Moz AgEq in the Measured & Indicated categories
• Completing 37,662m of drilling to convert resources to higher confidence
• Tripling the land package to over 17,000 hectares through strategic acquisitions
• Strengthening the management team with key appointments
• Completing a successful spinout of Vizsla Royalties, unlocking additional shareholder value
• Graduating to the TSX, GDXJ index inclusion, and being awarded ESR distinction for the 3rd consecutive year

2025 Outlook & Key Objectives

Building on its 2024 success, Vizsla Silver is well-positioned to continue advancing Panuco in 2025 with the goal of achieving initial production in 2027. The company remains well-funded with over US$92M in cash.

Key 2025 objectives include:

• Advancing the fully-permitted Copala test mine and bulk sample program
• Completing the 4th round of metallurgical testing
• Progressing permitting and project financing
• Delivering a Feasibility Study in H2 2025
• Completing +12,000m of geotechnical drilling and +25,000m of discovery and expansion drilling
• Conducting a 45 line-km ground EM geophysical survey over 6 priority targets

Exploration Upside

Panuco hosts significant exploration upside, with numerous high-priority targets identified for follow-up across the expansive land package. 2025 exploration will focus on resource expansion at the open-ended Copala and Napoleon deposits. The company also plans to drill-test high-potential targets like Camelia-San Dimas, Galeana, San Fernando-Nacaral, El Roble, and Oregano.

Vizsla Silver will continue detailed district-scale mapping and 3D modelling to generate new targets. Additionally, the company intends to conduct ground geophysics to fingerprint known mineralization and apply this knowledge to new areas.

Conclusion for Investors

Vizsla Silver delivered an impressive year in 2024, making substantial progress in de-risking and advancing its flagship Panuco project. With a world-class resource base, compelling economics, and multiple near-term catalysts, the company is well-positioned for growth in 2025 and beyond as it progresses Panuco to production.

Key upcoming milestones for investors to monitor include the Copala test mine results, Feasibility Study delivery, and ongoing exploration across this highly prospective district. With a strong treasury, experienced management team, and commitment to responsible development, Vizsla Silver represents a compelling opportunity in the silver space as it looks to become Mexico's next major producer.

As with any pre-production company, there is no guarantee that Vizsla will ultimately achieve its goal of becoming a profitable silver miner. Potential risks and uncertainties include permitting delays, inflationary pressures, volatility in metal prices, and geological/technical challenges. That said, the company has done an excellent job to date in hitting its milestones, attracting institutional support, and progressing Panuco on an accelerated timeline. If Vizsla can continue to deliver in 2025, it could be poised for significant growth and re-rating as it positions itself as a rising star in the silver space.