Vizsla Silver Corp. (NYSE: VZLA)

Vizsla Silver Corp. was incorporated on September 26 2017 under the name Vizsla Capital Corp. pursuant to the British Columbia Business Corporations Act. The company changed its name to Vizsla Resources Corp. on March 8 2018 and to Vizsla Silver Corp. on February 5 2021. Its head office is located at Suite 1723 595 Burrard Street Vancouver British Columbia V7X 1J1. Vizsla Silver Corp. is a reporting issuer in all Canadian provinces and territories and its common shares trade on the Toronto Stock Exchange and the NYSE American under the ticker VZLA. As of April 30 2025 the company held four wholly owned subsidiaries: Canam Alpine Ventures Ltd. Panuco Silver Resources Corp. Sinaloa Minerals Exploration Corp. and La Garra Resources Corp. each of which operates wholly owned Mexican subsidiaries. The core business of Vizsla Silver Corp. is the acquisition exploration and development of mineral resource properties with a primary focus on its 100% owned Panuco Copala silver gold project situated in Sinaloa Mexico. In addition to Panuco Copala the company has acquired the Santa Fe project which includes a 350 tonne per day mill and the past producing La Garra Metates district both located in the same mineral belt.

Vizsla Silver Corp. does not generate significant revenue from mineral sales and has not reported commercial production to date. The company finances its operations primarily through the issuance of equity securities via private placements and public offerings. Notable financing events include the November 2022 bought deal that raised C$34 517 250 the September 2024 bought deal that yielded C$65 000 000 plus an over allotment of C$9 750 000 and the June 2025 bought deal that generated US$100 002 000 in gross proceeds. In addition the company has occasionally funded acquisitions through a combination of cash and share consideration such as the May 2025 purchase of the Santa Fe project. The net proceeds from these equity issuances have been allocated to exploration drilling property acquisitions general and administrative expenses and working capital needs.

Vizsla Silver Corp. operates as a junior exploration and development company within the highly competitive precious metals sector where it vies for property acquisition exploration funding and capital against peers that often possess greater financial resources and technical infrastructure. The company’s competitive position is strengthened by its ownership of the Panuco Copala silver gold project which hosts a substantial mineral resource base as disclosed in its NI 43 101 technical reports. According to the January 2025 resource update the measured and indicated resources total 12 96 million tonnes grading 307 g/t AgEq containing approximately 127 819 thousand ounces of silver equivalent. The same update shows an inferred resource of 10 50 million tonnes grading 219 g/t AgEq representing about 73 621 thousand ounces of silver equivalent. In addition the company reported a high grade drill intercept in hole AM 25 90 that returned 897 g/t AgEq over 5.85 metres including a sub interval of 2,256 g/t AgEq over 1.13 metres. These results underscore the project’s potential for high grade silver gold mineralization. Vizsla Silver Corp. also benefits from a consolidated land position in the prolific Panuco San Dimas corridor where it has staked additional claims and acquired past producing districts such as La Garra Metates and the Santa Fe property. The technical team comprises experienced geologists engineers and metallurgists who have successfully designed and executed exploration programs drill campaigns and resource modeling efforts.

Vizsla Silver Corp. does not presently have a customer base as it has not generated revenue from mineral sales and remains in the exploration and development stage. The company’s future commercial success would depend on the ability to produce and sell silver gold concentrate to smelters traders or other industrial users of precious metals. However at this time there are no off take agreements or sales contracts in place. The absence of revenue reflects the company’s focus on advancing its projects toward potential future production rather than on current market sales.