Vizsla Silver Corp. · TSX:VZLA
Vizsla Silver — Investor Presentation (August 2024)
44 slides from Vizsla Silver's investor presentation, August 2024
Slide 1: Panuco – Silver & Gold District
PANUCO – SILVER & GOLD DISTRICT Developing the Next World Class Silver Asset NYSE:VZLA TSXV:VZLA Corporate Presentation August 2024
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: 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 The Company cautions that the results of the PEA are preliminary in nature and include inferred mineral resou
Slide 4: Leadership – The Most Important Asset
Leadership – The Most Important Asset Michael Konnert Craig Parry Simon Cmrlec Jesus Velador Eduardo Luna CEO, Director Chairman COO, Director VP Exploration Director Founder & Managing Partner of Initial Co-founder & advisor of Former COO of Ausenco. 30+ Doctorate in epithermal deposits. Mexican mi
Slide 5: Tier-1 Silver Development with Tremendous Growth Potential
Tier-1 Silver Development with Tremendous Growth Potential Advancing Development Exploration Upside Responsible Growth Fast Track to Production Growing Land Package Investing Locally Feasibility Study in H2 2025, Tripled land package in 2024, building Seven infrastructure projects(3) & $300k followe
Slide 6: Panuco Silver-Gold Project
Panuco Silver-Gold Project District Scale & 100% Owned N • Applying modern exploration techniques to a newly consolidated land package that has never been systematically explored • Tripled land package since January 2024, now over 17k ha Location, Location, Location • Situated in an underexplored ar
Slide 7: Unrivalled Infrastructure
Unrivalled Infrastructure Site Access N • Highway 40 from Mazatlàn to Concordia and into Panuco property (~1hr drive) • Toll highway 40D (Mazatlàn to Durango) International Infrastructure • Deepwater port located in Mazatlàn • Mazatlàn international airport located 56km SW of Panuco Project Power &
Slide 8: Industry Leading Mine Economics
Industry Leading Mine Economics Significant Cash Flow Allows For Rapid Payback Post-Tax Economics Post-Tax FCF Pre-Tax FCF NPV(5%) $1,137M US$350M IRR 86% US$250M Payback 0.8 years NPV/Capex(1) 5.1x US$150M Sensitivities to Silver & Gold -10% Base Case +10% Spot Prices Upside US$50M Ag 24 26 29 31 4
Slide 9: Low Initial Capital + High Grade
Low Initial Capital + High Grade Panuco demonstrates outstanding return on capital invested, with NPV 5.1x(1) higher than initial CapEx $1,500M Bubble Size = NPV/CapEx Low Cost, High Yield High Cost, High Yield $1,250M Panuco Cordero (Vizsla) (Discovery) 1.5x 5.1x $1,000M NPV(5%) Silver Sand $750M (
Slide 10: Project 1: PEA Based on Large, High-grade Resource
Project 1: PEA Based on Large, High-grade Resource Resource Tonnes (Mt) AgEq(1) (g/t) AgEq(1) (Moz) Indicated 9.5 511 156 Inferred 12.2 433 170 Conventional Mining, Conventional Processing Long Hole (85%) 3,300 tpd Initial mill throughput Cut & Fill (15%) ramping up to 4,000tpd Mining method in year
Slide 11: World-Class Silver-Gold Production
World-Class Silver-Gold Production Panuco to become a top-5 silver producer(1) with bottom quartile AISC 20.2Moz 25Moz $25 Copala & Cristiano Tajitos Napoleon & Luisa Stockpile AISC (US$/Oz AgEq) Avg Annual Production Years 1-2 (AgEq) 15.2Moz 20Moz $20 LOM Avg Annual Production (AgEq) 162.1Moz LOM T
Slide 12: Panuco is a Standout Developer in the Silver Space
Panuco is a Standout Developer in the Silver Space Annual Production (Moz AgEq) AISC US$/Oz AgEq Bottom Quartile AISC US$18.09 /oz AgEq 22.7Moz 22.6Moz 21.9Moz $31.6 20.2Moz 18.7Moz $25.4 US$9.40 15.2Moz $24.2 -48% /oz AgEq 14.2Moz 13.7Moz $21.4 $20.5 $20.2 $16.5 12.2Moz 10.2Moz $15.8 $15.3 $14.7 $1
Slide 13: Panuco – A Globally Significant Silver Asset
Panuco – A Globally Significant Silver Asset Currently Online Coming Online 28 yrs Annual production for new silver primary La Pitarrilla assets averages 9.3Moz AgEq per year (Endeavour) 10.1Moz 23 yrs La Colorada (Pan American) 5.7Moz Prognoz 18 yrs (Solidcore) - Mine Life (years) 6.9Moz Juanicipio
Slide 14: Key Areas For Enhancement
Key Areas For Enhancement Tight Spaced Drilling at Copala & Exploration of Open Resources • Continued exploration and infill drilling for conversion of Inferred Resources to Measured and Indicated categories supports resource growth in pending resource update (Q4 2024) Optimized Metallurgy • Supplem
Slide 15: Ongoing Infill Drilling at Copala
Ongoing Infill Drilling at Copala 15k metre infill program focused on high-grade zones targeted for the first two years of production Proposed area for Infill drilling Proposed area for Expansion drilling Historic Adit CS-24-356 4.20 m @ 8,817 g/t AgEq CS-24-361 3.50 m @ 2,023 g/t AgEq CS-24-357 10.
Slide 16: Ongoing Metallurgical Optimization
Ongoing Metallurgical Optimization Testwork History Conventional Processing • To date, three rounds of metallurgical testwork have been • Test work demonstrates high precious metals recoveries (up completed on the main deposits at Panuco to 93% Ag and 94% Au) • Napoleon (2021), Tajitos (2022), Copal
Slide 17: 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 Prolifi
Slide 18: District Upside Potential
District Upside Potential Project-1 PEA Covers a Small Portion of the Panuco District To date, less than 30% of the known vein targets at Panuco have been drill tested(1) Resource Expansion • Copala & La Luisa remain open along strike to the north and down dip to the south • Napoleon (HW4) to the ea
Slide 19: A Quality Portfolio in a Prolific Silver Belt
A Quality Portfolio in a Prolific Silver Belt 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 Panuco’s Copala & sub
Slide 20: The Next Billion Ounce Silver District
The Next Billion Ounce Silver District Mexico hosts 8 of 14 +billion-ounce Ag districts(1), 5 of which are epithermal veins (Ag + Au) District Location Ounces (B) Fresnillo Mexico 3.3 Cerro Rico Bolivia 2.8 Cerro de Pasco Peru 1.7 Pachuca Mexico 1.5 Guanajuato Mexico 1.4 Broken Hill Australia 1.3 Co
Slide 21: Environmental, Social Responsibility & Governance
Environmental, Social Responsibility & Governance Annual Sustainability Report Community Relations Promoting Local Growth Social Impact Assessment Inaugural report published in 2023. Update Prioritizing reciprocity Seven infrastructure SIA underway to analyze all social risk underway for 2024 throug
Slide 22: Significant Re-rate Potential: Closing The Valuation Gap
Significant Re-rate Potential: Closing The Valuation Gap Average producer P/NAV multiple represents a 200% increase over the average developer P/NAV(1) $3,798.M Market Cap (US$M) P/NAV(1) 2.19x $2,608.M 1.59x 1.53x 1.54x Avg Producer P/NAV 1.27x 1.40x $1,978.M 1.23x 1.17x $1,657.M 1.07x $1,508.M $1,
Slide 23: Post PEA Excess Return: Significant Upside Remains
Post PEA Excess Return: Significant Upside Remains Post PEA Daily Returns in Excess(1) of GDXJ +/- 80 days Discovery Silver 125% 100% Pre-PEA 0% Post-PEA 51% 75% GoGold 50% 51% 25% Silvercrest 0% Mag Silver -25% -50% -80 -75 -70 -65 -60 -55 -50 -45 -40 -35 -30 -25 -20 -15 -10 -5 0 5 10 15 20 25 30 3
Slide 24: Key Potential Catalysts Over Next 12 Months
Key Potential Catalysts Over Next 12 Months Bulk Sample Test Mine Program • Fully permitted 25,000 tonne bulk sample from Copala and Napoleon, commencing development Q4 2024 • Accessing first two years of high-grade production, and confirming metallurgical test work and mining method • Results to fe
Slide 25: Three Reasons to Own Vizsla Silver
Three Reasons to Own Vizsla Silver (VZLA-NYSE) Fast Track to Production Immense Exploration Upside Significantly Undervalued Advanced Developer Growing Land Package Timing Feasibility Study in H2 2025, Tripled land package in 2024, building Strong leverage to rising metals prices targeting first sil
Slide 26: Appendix
Appendix SILVER CORP NAPOLEON DISCOVERY HOLE the drill hole that changed everything NP-20-07: 8,078 g/t silver equivalent (1,808.2 g/t silver, 66.8 g/t gold, 2.99% lead and 3.30% zinc) over 6.0 meters
Slide 27: Company Snapshot
Company Snapshot COMPANY STATISTICS TSX.V as of July 16, 2024 VIZSLA SHAREHOLDERS Shares Outstanding 241.9 M Top Shareholders Warrants (M) 9.0 M Institutions & HNW 15% Franklin Templeton 16% Options (M) 22.6 M Sprott Inc 7% Shares Fully Diluted (M) 273.5 M Retail 50% Eric Sprott 4% Market Capitaliza
Slide 28: Management Team
Management Team Michael Konnert CEO, Director Simon Cmrlec B.Eng, COO, Director 15+ years industry experience. Founder & Partner of 30+ years industry experience. Former COO of Inventa Capital and Vizsla Silver. Co-founded & sold Ausenco Engineering where he supported mine CobaltOne Energy developme
Slide 29: Board of Directors & Advisors
Board of Directors & Advisors Craig Parry B.Sc., Chairman Eduardo Luna P.Eng., Director 25+ years industry experience. Holds 6 mining Mexican mining hall of fame member, President of company board seats. Founder of Vizsla Silver, the Mexican Mining Chamber, Former Director at Vizsla Copper, and init
Slide 30: Creating Shareholder Value
Creating Shareholder Value Financing CAD/Share 30day Return 1yr To Date A $2.0M at $0.15 13% 197% 1653% B $3.6M at $0.40 73% 265% 558% • Proven Access to Capital C $.4M at $0.40 93% 253% 558% • Return on Investment D $2.0M at $0.40 125% 270% 557% • Vizsla Discovery Cost of US$0.32/oz AgEq(1) E $4.6M
Slide 31: Demand for Solar Power is Driving Supply Deficits
Demand for Solar Power is Driving Supply Deficits Net Silver Supply (Supply – Demand) Since 2020, aggregate silver supply has fallen 0.9% Surplus annually, while demand has grown 6.2% annually 110Moz $40/oz 10Moz $35/oz -90Moz $30/oz Deficit -190Moz $25/oz Silver Demand -290Moz $20/oz 1400 2014 15 1
Slide 32: Vizsla Silver – A World Class Silver Producer
Vizsla Silver – A World Class Silver Producer 35.9Moz If in production today, based on the PEA, Panuco would be the 10th highest silver producing(1) asset in the world 40Moz 35Moz Top Silver Producers 2023 Annual Production 30Moz Silver Production 25Moz 17.5Moz 16.7Moz 20Moz 14.2Moz 12.5Moz 11.9Moz
Slide 33: Panuco Mineral Resource Estimate - January 2024
Panuco Mineral Resource Estimate - January 2024 Updated Panuco Project Indicated & Inferred Resource Summary by Vein (150 g/t AgEq cut-off) AVERAGE GRADE CONTAINED METAL TONNES CLASSIFICATION Ag Au Pb Zn AgEq AuEq Ag Au Pb Zn AgEq AuEq (Mt) (g/t) (g/t) (%) (%) (g/t) (g/t) (koz) (koz) (kt) (kt) (koz)
Slide 34: Panuco - A Globally Significant Silver Discovery
PANUCO - A Globally Significant Silver Discovery Grade M&I g/t AgEq Inferred g/t AgEq Contained M&I Moz Inferred Moz SIL - Las Chipas Producer AG - San Dimas FRES - Cienega MAG* - Juanicipio AYA - Zgounder M&I 511 g/t AgEq M&I 156 Moz AgEq VZLA - Panuco Inferred 170 Moz AgEq Inferred 433 g/t AgEq DV
Slide 35: Surface Infrastructure Layout
Surface Infrastructure Layout Municipal Boundary of Copala High Voltage Power Stockpile Tailings Storage Facility Napoleon Copala Portal Portal Waste Dump Federal Highway 40D Plant Location Existing Roads Collection Pond Federal Highway 40 35
Slide 36: Conventional Mining
Conventional Mining Looking South-West From Above Napoleon 100% Long Hole Tajitos Longhole (85%) Cut & Fill (15%) Mining method Cristiano Copala (South) Copala (North) Development Copala (Central) Longhole Cut & Fill Design by Production Method: Copala Portal 36
Slide 37: Copala - Mine Development Timeline
Copala - Mine Development Timeline Looking South-West From Above Tajitos Cristiano Pre-prod. (2yr) Copala (South) Y2 – Y2 Y3 – Y4 Copala (North) Y5 – Y6 Copala (Central) Y7 – Y8 Y8 – Y9 Y10+ Year Mined: Copala Portal 37
Slide 38: Napoleon - Mine Development Timeline
Napoleon - Mine Development Timeline Looking South-West La Luisa Cruz Negra / Josephine Pre-prod. (2yr) Napoleon (Main) Y2 – Y2 Y3 – Y4 Napoleon (South) Y5 – Y6 Y7 – Y8 Y8 – Y9 Y10+ Year Mined: Napoleon Portal 38
Slide 39: Copala & Cristiano – Preliminary Mine Design
Copala & Cristiano – Preliminary Mine Design Looking NorthEast 39
Slide 40: Napoleon South – Preliminary Mine Design
Napoleon South – Preliminary Mine Design Looking East 40
Slide 41: La Luisa – Preliminary Mine Design
La Luisa – Preliminary Mine Design Looking SouthWest 41
Slide 42: 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 43: 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 44: NYSE:VZLA TSXV:VZLA
595 Burrard Street Suite 1723, Vancouver, BC Canada V7X 1J1 +1 604 364 2215 info@vizslasilver.ca NYSE:VZLA TSXV:VZLA July 2024