Vizsla Silver Announces Extending Previously Announced Vide Deal Funding to $30 Million, Canadian Business Journal

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VANCOUVER, British Columbia, November 8, 2022 (GLOBE NEWSWIRE) — Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) (“Vizsla Silver” or “Company”) is pleased to announce that due to strong investor demand, it has expanded its previously announced “Byde Deal” funding from approximately $20 million to approximately $30 million (“Recruitment”). Under the offering, a syndicate of underwriters jointly led by PI Financial Corp. and Canaccord Genuity Corp. (“Underwriter”) agreed to purchase 20,700,000 units on a “purchase transaction” basis (“unit”) at a price of $1.45 per unit (“Offer price”).

Each unit represents one common share of the Company’s equity (“common stock”) and one-half of one Common Stock Purchase Warrant (each entire Common Stock Purchase Warrant, “warrant”). Each Stock Acquisition Right shall consist of one share of common stock of the Company (“Warrant share”) with an exercise price of $2.00 per Warrant Share for 24 months from closing.

The Company has granted the Underwriters options exercisable at the Offering Price for 30 days from the Closing Date (as defined herein). – Quotas for market stabilization, if any. The offering is scheduled to end on or around November 15, 2022 (See “Closing date“) and the company must obtain all required regulatory approvals.

Net proceeds from the offering will be used to advance Panuco exploration and development, including delivery of resource updates in the fourth quarter of 2022, as well as working capital and general corporate purposes.

Units will be offered in each Canadian province (except Quebec) as a prospectus supplement. It may also be offered through private placement in the United States and other jurisdictions as agreed between the parties.

The securities offered pursuant to the offering have not been registered and will not be registered under the United States Securities Act of 1933, as amended (“U.S. Securities LawNor may it be offered or sold in the United States, to any United States person, or for the account or benefit of any United States person, without registration or applicable exemption from the registration requirements of the United States securities laws. Applicable US State Securities Laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor does it constitute a sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Panuco Project

The newly consolidated Panuco Silver Gold project is a new high grade discovery located in the southern state of Sinaloa, Mexico, near the city of Mazatlan. The 6,761-hectare former production area benefits from over 86 kilometers of total veins, 35 kilometers of underground mines, roads, power and permits.

The region contains intermediate to low sulfidation thermomercury and gold deposits associated with Oligocene and Miocene siliceous volcanism and crustal expansion. The host rocks are mainly continental volcanic rocks correlated with the Tarahumara Formation.

Panuco hosts an in situ indicated Mineral Resource of an estimated 61.1 Moz AgEq and an in situ Indicated Resource of 45.6 Moz AgEq. The NI 43-101 Technical Report, “National Instrument 43-101 Technical Report for the Panuco Project Mineral Resource Estimate Concordia, Sinaloa, Mexico” was submitted to SEDAR on April 7, 2022 with an effective date of March 1, 2022. was. Created by Chief Geologist Tim Maunula, P.Geo of T. Maunula & Associates Consulting Inc. and his Ausenco, Manager Process Engineering, P.Eng, Kevin Murray.

About Vizsla Silver

Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, British Columbia, focused on advancing the wholly owned Panuco silver-gold project in Sinaloa, Mexico.

To date, Vizsla Silver has completed over 210,000 meters of drilling at Panuco and has discovered several new high grade deposits. For 2022, Vizsla Silver has budgeted for his over 120,000 meters of resource/finding-based drilling. It is designed to upgrade and expand initial resources and test other high priority targets throughout the district.

For more information and to sign up for the mailing list, please contact:

Michael Connacht, President and Chief Executive Officer
Phone: (604) 364-2215
Email: [email protected]
Website: www.vizslasilvercorp.ca

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Special Note Regarding Forward-Looking Statements

This news release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws. As used in this news release, “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “predict”, “may”, ” “will”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information relate, among other things, to our intended use of proceeds from our offerings, our expected end date for our offerings, and the publication of a resource update in the fourth quarter of 2022.

forward-looking statements and forward-looking information regarding Vizsla Silver’s future mineral production, liquidity, enhanced value and capital market profile, future growth potential of Vizsla Silver and its businesses, and future exploration plans; are based on management’s reasonable assumptions and estimates. , expectations, analysis, and opinions. They are based on management’s experience and perception of trends, current conditions, expected developments and other factors that management believes are relevant and reasonable to the circumstances, but are not correct. It may turn out not to be. Assumptions are made, among other things, regarding the prices of silver, gold and other metals. Exploration and development costs. Estimate development costs for exploration projects. Vizsla Silver’s ability to operate in a safe and effective manner and its ability to raise funds on reasonable terms.

These statements reflect Vizsla Silver’s current views regarding future events and, while believed to be reasonable by management, are subject to material business, economic, competitive, political and social uncertainties. necessarily based on many other assumptions and assumptions that are inherently subject to nature and eventuality. Many factors, both known and unknown, cause actual results, performance or achievements to be, or may be, expressed or implied by such forward-looking statements or forward-looking information. Vizsla Silver made assumptions and estimates based on or related to many of these factors. Such factors include, but are not limited to: Precious metal price fluctuations. risks associated with conducting our mining activities in Mexico; Delays in Regulation, Consent or Permits. risks associated with our reliance on management and outside contractors; Risks related to mineral resources and reserves. our inability to obtain insurance covering all risks on a commercially reasonable basis or at all; currency fluctuations; the risk of not being able to generate sufficient cash flow from operations; Risks associated with project financing and equity issuance. Risks and unknowns inherent in all mining projects, including reserve and resource inaccuracies, metallurgical recovery, and capital and operating costs of such projects. Disputes over ownership of real estate, especially undeveloped real estate. Laws and regulations governing the environment, health and safety. The ability of the communities in which we operate to manage and respond to the impact of COVID-19. The economic and financial impact of COVID-19 on your company. operational or technical issues related to mining or development activities; employee relations, labor unrest or unavailability; company interactions with surrounding communities and artisanal miners; Our ability to successfully integrate acquired assets. The speculative nature of exploration and development, including the risk of reserves or depletion of reserves. stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for our shareholders; litigation risk; and factors identified under the caption “Risk Factors” in discussion and analysis by Vizsla Silver management. Readers are cautioned not to ascribe undue certainty to forward-looking statements or forward-looking information. Vizsla Silver has attempted to identify material factors that could cause actual results to differ materially, but there could be other factors that cause results to be unanticipated, estimated or unintended. Vizsla Silver does not update these forward-looking statements or forward-looking information, except as applicable due to changes in assumptions, changes in circumstances or other events affecting such statements or information. We have no intention, nor are we under any obligation, to reflect law.

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