Vizsla Silver Corp. reported results from 19 new drill holes targeting the Animas Vein Corridor, at its 100%-owned, flagship Panuco silver-gold project ("Panuco" or the "Project") located in Mexico. The results are centered on two zones, the Rosarito Zone, which was included in the March 2022 maiden resource estimate, and the Cuevillas Zone, a new discovery located near perpendicular to Rosarito, at the northern end of the Animas Vein Corridor.

Initial underground sampling and drilling completed by Vizsla in 2020 targeted extensions to known mineralization beneath historic workings along the Animas Vein Corridor. These early results, marked by underground samples grading up to 140.0 g/t silver and 1.67 g/t gold over 11.90 metres and drill-hole intercepts beneath existing mine workings reporting 231 g/t silver and 2.19 g/t gold over 6.75 metres including 821 g/t silver and 5.08 g/t gold over 1.50 metres), highlighted the potential of the Animas Corridor to host additional mineralization beneath the old workings. However, due to a lack of accurate/detailed underground plans combined with the exploration success being realized at Napoleon and Tajitos, exploration in the area was deferred.

By late 2021, Vizsla had collected enough data to accurately locate all significant workings in the north end of the Animas Vein Corridor and the Company recommenced drilling in this area. Ultimately, three high priority targets were developed: Rosarito, Cuevillas and La Muñeca. The first two have been drilled and are reported in this news release, and drilling has commenced at La Muñeca.

A compilation of historic mine workings, drilling and underground sampling suggests that the Animas Vein Corridor might be rotated to the north. If so, this event may have preserved mineralization beneath old workings in the northern half of the corridor. The Rosarito Zone is situated along the main Animas Vein at the intersection of a high angle northeast trending splay vein (Figure 1).

Drilling completed to date has traced a panel of continuous mineralization over 170 metres long by approximately 80 metres beneath the lowest level of historic workings and remains open along strike and to depth. The 11 Rosarito holes reported in this news release were included in the Company's March 2022 maiden resource estimate. Rosarito currently hosts an estimated in-situ indicated resource of 719Koz AgEq grading 191 g/t AgEq and an in-situ inferred resource of 553Koz AgEq grading 188 g/t AgEq (The Technical Report, titled "National Instrument 43-101 Technical Report for the Panuco Project Mineral Resource Estimate Concordia, Sinaloa, Mexico" was filed on SEDAR on April 7, 2022, has an effective date of March 1, 2022 and was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") by Tim Maunula, P.Geo., Principal Geologist, T. Maunula & Associates Consulting Inc. and Kevin Murray, P.Eng, Manager Process Engineering, Ausenco).

The Cuevillas Vein is a northeast trending vein that intercepts the Rosarito resource nearly perpendicular to strike, hosted within the hanging wall of the Animas Vein. To date, drilling has highlighted a panel of mineralization over 100 metres long by 100 metres deep with assays pending on two new holes. Cuevillas represents a new discovery outboard of the maiden resource areas where mineralization remains open along strike and to depth.

The Company believes the northern end of the Animas Vein Corridor has significant potential to host additional resources and will continue to explore this area throughout 2022. Additionally, the Company is reviewing the potential to utilize existing workings in the area to conduct underground drilling. This may provide improved access to drill more vein intercepts in less time at lower overall costs.