VIZSLA SILVER HOSTS IN-DEPTH TECHNICAL OVERVIEW OF ITS RECENT FEASIBILITY STUDY AND CONVERTIBLE OFFERING

The most recent news release, dated December 2, 2025, announces the replay of a webinar that provided an in-depth technical overview of Vizsla Silver's recently completed Feasibility Study (FS) and convertible notes offering. The webinar highlighted the positive results of the independent FS for the 100% owned Panuco silver-gold project, confirming its strong technical foundation and economic viability, consistent with the prior Preliminary Economic Assessment (PEA). Crucially, the release clarifies that the new convertible notes financing successfully raised US$300 million and replaces the previously announced debt mandate with Macquarie Bank, providing a flexible structure to advance the Panuco project with wider growth prospects. The CEO reiterated gratitude to investors as the company moves Panuco toward a construction decision and the next phase of value creation.

This news release primarily serves as a recap and clarification of two previously announced, highly material events: the positive Feasibility Study results (announced November 12, 2025, rated "Material - Game Changer") and the closing of the US$300 million convertible senior notes offering (announced November 24, 2025, rated "Material - Positive").

The key new piece of information is the explicit statement that the convertible notes offering "replaces the previously announced debt mandate with Macquarie." This clarifies the company's financing strategy and confirms that they have opted for a different, potentially more flexible, debt structure compared to the senior secured project finance facility previously mandated. While this provides clarity on funding, it does not materially alter the financial position or project outlook beyond what was already indicated by the closing of the significant convertible notes offering. The FS results, which are a major de-risking milestone, were already disseminated and absorbed by the market. Therefore, this announcement, being a webinar replay and a strategic clarification, is considered routine.

Vizsla Silver Corp. is a Canadian precious metals company dedicated to the exploration and development of high-grade silver and gold assets in Mexico. Its primary asset is the Panuco silver-gold project in Southern Sinaloa, Mexico, which it 100% owns.

The Panuco project is a newly consolidated district-scale property with an extensive history of past production. It features over 86 kilometers of known vein extent and significant existing underground mine infrastructure, roads, and power. The project is focused on intermediate- to low-sulphidation epithermal silver and gold deposits.

Vizsla Silver's vision is to become a leading single-asset silver primary producer. The company is currently in the development stage for Panuco, targeting first silver production in H2 2027. Key achievements and progress include: * Updated Mineral Resource Estimate (January 2025): Showed a 43% increase in Measured and Indicated (M&I) resources to 222.4 million ounces Silver Equivalent (AgEq) at a grade of 534 g/t AgEq. Notably, this included the company's first Measured Resource of 46 Moz AgEq at an average grade of 640 g/t AgEq. * Feasibility Study (November 2025): Delivered robust positive economics, outlining an After-Tax NPV(5%) of US$1,802 million, an Internal Rate of Return (IRR) of 111%, initial capital costs of US$173 million, and an average annual production of 17.4 Moz AgEq over a 9.4-year mine life. The All-in Sustaining Cost (AISC) was estimated at US$10.61/oz AgEq, with a rapid payback period of 0.6 years. * Test Mining Program: Commenced in Q4 2024 at the Copala zone to validate geotechnical conditions, reconcile resource models, and build operational experience. * Exploration "Project 2": Aggressively pursuing district-scale exploration, including new high-grade discoveries (e.g., Animas Vein system, March 2025) and the acquisition of the Santa Fe project (May 2025), which includes a permitted 350 tpd mill and further exploration potential. This strategy aims to build a multi-generation pipeline of assets.