Vizsla Silver Corp. · TSX:VZLA
Vizsla Silver — Corporate Update (July 2025)
42 slides from Vizsla Silver's corporate update, Jul 30, 2025
Slide 1: 2025 Panuco & Greenfield Exploration Discussion
2025 Panuco & Greenfield Exploration Discussion NYSE:VZLA TSXV:VZLA Exploration Webinar July 30th, 2025
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains “forward looking statements” regarding the Company within the meaning of applicable securities legislation, including statements as to future events, results and plans. Forward-looking statements are sometimes but not always identified by such wor
Slide 3: Exploration is in Our DNA
Exploration is in Our DNA Jesus Velador Ph.D., Michael Konnert, VP Exploration Founder & CEO Doctorate in epithermal deposits. Founder & Managing Partner of Former Geologist for Fortuna Silver, Inventa Capital, raising over $800M and Director of Exploration for First since 2017. Founder of Vizsla Si
Slide 4: Vizsla's Vision – First Silver 2027
Vizsla’s Vision – First Silver 2027 Vizsla’s vision is to become the World’s Largest Single Asset Silver Primary Producer through exploration and development of the Panuco district in Mexico Delivery on Vizsla’s Growth & De-risking Strategy Advancing through test mine development, project finance, a
Slide 5: Panuco Silver-Gold Project
Panuco Silver-Gold Project Existing Infrastructure • Past producing district that benefits from access to HV power, water, roads, and proximal to Mazatlán • To date, Vizsla has completed over 392,000 metres of diamond drilling without constructing a single road Fully Funded Through to Feasibility 20
Slide 6: Work Complete & Ongoing
Work Complete & Ongoing
Slide 7: Exploration Progress
Exploration Progress Mineral Resource Growth Drilling To Date M&I Mt Inferred Mt M&I AgEq Moz Inferred AgEq Moz 250 Moz 25 Mt 391,875 979 200 Moz 20 Mt Meters Drilled to Date Holes Drilled to Date $147M $0.41/Oz (1) (1) 150 Moz 15 Mt Total Exploration Expenditures Discovery Cost 100 Moz 10 Mt LTM Di
Slide 8: Ongoing Work
Ongoing Work HLEM Survey Supports Ongoing Targeting in The West Resource Expansion • Copala & La Luisa remain open along strike to the north and down dip to the south • Napoleon (HW4) to the east, as well as three potential feeder veins located along the main Napoleon structure at depth Proximal Dis
Slide 9: Animas vein system: La Pipa
Animas vein system: La Pipa ` 1. Source: Company reports, Cap IQ as of January 8th, 2025. 2. Silver equivalent is calculated using the following metals prices: Ag US$26/Oz, Au US1,975/oz, Zn US$2,646/t, Pb US$2,094/t, Cu US$8,818/t 9 3. MAG* Silver holds a 44% stake in Juanicipio, and attributable r
Slide 10: Regional Geology
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Slide 11: Mexico Hosts The Largest Silver Assets In The World
Mexico Hosts The Largest Silver Assets In The World Panuco has the chance to become the 9th 1Boz(1) district in Mexico Arc related Hydrothermal Deposits Other Major Silver Deposits Cordilleran Belts 1. Source1: After Graybeal & Vikre, 2011, S& P Capital IQ. This slide contains information about adja
Slide 12: Panuco Characterized by Uplifted & Down-dropped Fault Blocks
Panuco Characterized by Uplifted & Down-dropped Fault Blocks The project is centered on a 9x3 km diorite pluton that intrudes granite and volcanic rocks of the Tarahumara Formation. The veins, hydrothermal breccias, and stockworks are MRE 2025 222.4+138.7 Moz AgEq hosted by diorite, granite and ande
Slide 13: Regional Geologic Framework
Regional Geologic Framework Effects From Subduction Effects of North & South America Panuco Demonstrates D5 Block Tilting Along The Pacific Coast Separation and Caribbean Plate Movement SSW D1 Early Laramide D2 Late Laramide D3 Early Post Compression Compression Laramide Extension ~80-60Ma ~60-40Ma
Slide 14: Panuco is a Low-to-Intermediate Sulfidation Epithermal System
Panuco is a Low-to-Intermediate Sulfidation Epithermal System Fluid boiling is the primary process for silver and gold deposition • Silver and gold are found as acanthite and electrum in bands or scattered within quartz-carbonate veins, hydrothermal breccias and stockworks • Presence of adularia and
Slide 15: Expanding Project #1
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Slide 16: Project #1: Expansion Targets
Project #1: Expansion Targets Multiple Targets For Immediate Resource Expansion at Copala, Napoleon and La Luisa • Copala up-dip • Napoleon HW4 • Potential feeder zones in Napoleon • La Luisa gap (400m gap) and La Luisa SE extension • Cruz Negra Additional Targets Proximal to Current Resource Bound
Slide 17: Growth Potential at Copala
Growth Potential at Copala Exciting Exploration Targets Near Surface on Copala SE: Up-dip Extension of High-grade Shoots Expansion targets Measured Indicated Inferred MSO 17
Slide 18: Growth Potential at Napoleon South
Growth Potential at Napoleon South 1) Napoleon has average silver / gold ratios of ~150. 3) Sericite, Phengite and WX Kaolinite seem to be good vectors to mineralization. 2) High silver / gold ratios at depth could be pointing to feeder zones. LEGEND Silver / Gold ratio 18
Slide 19: Significant Intercepts at Napoleon HW4
Significant Intercepts at Napoleon HW4 NP-24-435 NAP-2023-004 1.40 m @ 2,156 g/t AgEq 0.40 m @ 1,503 g/t AgEq NAP-23-002 400 m 0.91 m @ 549 g/t AgEq NP-24-432 1.85 m @ 265 g/t AgEq NP-24-429 300 m 1.30 m @ 4,533 g/t AgEq NP-23-396 MR January 2024 0.85 m @ 624 g/t AgEq 200 m NP-24-439 6.40 m @ 392 g/
Slide 20: Geophysics: Ground HLEM Survey
Geophysics: Ground HLEM Survey HLEM Results Are Unlocking High-Potential Zones in Previously Unexplored Ground La Colorada North • 43,000+ line-metres of HLEM surveys completed in the western district to support new target generation • Known mineralization at Copala and Napoleon used to model and ex
Slide 21: Electromagnetic Footprints along Copala-Napoleon
Electromagnetic Footprints along Copala-Napoleon Conductors identified along the Copala–Napoleon corridor highlight multiple new targets, including anomalies not aligned with mapped veins — indicating potential blind structures In phase anomalies (strong conductors) Out of phase anomalies (poor cond
Slide 22: HLEM Response at Colorada North
HLEM Response at Colorada North Strong conductors at Colorada North align with conceptual targets north of Napoleon, suggesting potential for new blind vein systems In phase anomalies (strong conductors) Out of phase anomalies (poor conductors) Napoleon north? EXPLANATION TMC Anomalies In phase An
Slide 23: Expanding the Vein Field: La Luisa – San Jack & 4 de Mayo
Expanding the Vein Field: La Luisa – San Jack & 4 de Mayo Conductors at San Jack and 4 de Mayo highlight multiple near-surface anomalies along underexplored veins, supporting follow-up drilling to expand the La Luisa vein field In phase anomalies (strong conductors) Out of phase anomalies (poor cond
Slide 24: HLEM targeting
HLEM targeting Copala fx – Napoleon Copala fx – Napoleon Intersection Intersection EXPLANATION EXPLANATION Strong conductor Weak (poor) conductor In phase anomalies Out of phase anomalies (strong conductors) (weak conductors) Less strong Napoleon Napoleon Weaker 24
Slide 25: Drilling at La Colorada north
Drilling at La Colorada north Active Drilling Evaluating Mineralization Along Copala Fault Zone Structural preparation • Ground HLEM survey completed across the La Colorada area, revealing multiple conductor anomalies (potential SW dipping veins) • Data interpretation underway to assess proximity to
Slide 26: Drilling at San Jack
Drilling at San Jack • Detailed mapping and WorldView-III image analysis underway • Ongoing fence drilling program on two areas, La Luisa – San Jack, Colorada • Targeting SE-dipping plunging shoots, based on the Napoleon–La Luisa exploration model • Focused mapping over AI-identified anomaly at San
Slide 27: Targeting Process: Mapping, LIDAR, Satellite & Terraspec
Targeting Process: Mapping, LIDAR, Satellite & Terraspec WVIII satellite image highlighting advanced argillic alteration and Prospects colored coded according to exploration stage Red color in satellite image indicates kaolinite, Alunite and Pyrophyllite 27
Slide 28: Hunting for Project #2
Hunting for Project #2
Slide 29: New Acquisitions: Santa Fé, San Enrique & La Garra
New Acquisitions : Santa Fé, San Enrique & La Garra Santa Fé Secured 100 % ownership of all production and exploration concessions, extending the high-grade discovery trend at Panuco Defined six high-priority drill targets along the Mother Vein Current focus: expanding detailed property-wide m
Slide 30: Santa Fe Legacy Exploration Summary
Santa Fe Legacy Exploration Summary Exploration Groundwork Paves the Way for Actionable Targeting • 12,229-hectare land package with extensive historic work • 2013 – Eduardo de la Peña drilled 997 m in 7 holes • 2014 – Aurico Gold drilled 11,957 m in 45 holes and conducted airborne mag and radiometr
Slide 31: Santa Fe: Six near-mine vein targets
Santa Fe: Six near-mine vein targets Advancing Near-Mine Targets at Santa Fé • 69 historical drill holes completed totaling 20,501 metres • Mineralization confirmed in the Mother Vein and La Ceiba • Six additional near-mine vein targets identified: • Santa Fé HW • San Jose North • Rosarito • San Jos
Slide 32: Blue Sky Potential: A Portfolio of Future Exploration Potential
Blue Sky Potential: A Portfolio of Future Exploration Potential La Garra • ~17,000ha past-producing district situated along trend with Panuco and First Majestic’s San Dimas • First time ever in the hands of a public company (with no previous drilling) • Hosts flat-lying structures reminiscent of Pan
Slide 33: San Enrique
San Enrique San Enrique has seen little-to-no exploration, and with known mineralization at Copala & Napoleon trending directly onto San Enrique, the property is an exciting asset in Vizsla’s long-term exploration portfolio • ~10,600 Ha land package • Previous LiDar survey done for the whole area an
Slide 34: La Garra
La Garra Historic Mining Silver Geochemistry • Ag-Au mineralization occurs in NNW trending epithermal veins like Panuco • Veins are hosted primarily by andesite and rhyolite volcanics • A strike length of +2.6 km was confirmed for the Metates vein • The Cero Verde – Las Playas vein system (2km long)
Slide 35: Exploration Summary
Exploration Summary Completed Work 2025 Exploration Program Resource-Growth Drilling Enhancing Project #1 8,000 metres targeting blind vein Ongoing exploration to test structures across Colorada, La Luisa, Prioritizing Targets underexplored areas proximal to and San Jack Project #1 and elsewhere in
Slide 36: Project Overview
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Slide 37: Dual Track Strategic Plan
Dual Track Strategic Plan Vizsla Silver aims to become the world’s leading silver company by implementing a dual track development approach, advancing Copala & Napoleon mine development while continuing district scale exploration through low-cost means Developing Panuco Project #1 Exploring a Prolif
Slide 38: Development Timeline
Development Timeline Advancing Panuco Towards Construction Decision Targeting First Silver In The Second Half Of 2027 2024 2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Resource Update Permitting Feasability Study Construction First Silver Commence Test Mine Conversion Drilling PEA
Slide 39: Three Reasons to Own Vizsla Silver (VZLA-NYSE)
Three Reasons to Own Vizsla Silver (VZLA-NYSE) Fast Track to Production Immense Exploration Upside Significantly Undervalued Advancing Development Growing Land Package Timing Feasibility Study in H2 2025, Quadrupled land package in 2024, Strong leverage to rising metals prices targeting first silver
Slide 40: Information Concerning Estimates of Mineral Resources
INFORMATION CONCERNING ESTIMATES OF MINERAL RESOURCES The scientific and technical information in this presentation was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the “SEC”). The terms "measured mineral reso
Slide 41: Disclaimer
DISCLAIMER General This corporate presentation is intended to provide an overview of the business of Vizsla Silver Corp. (the “Company”, “Vizsla” or “Vizsla Silver”). It has been prepared for informational purposes only and does not purport to be complete. The information in this presentation is not
Slide 42: Questions?
Questions? NYSE:VZLA TSXV:VZLA July 2025