Vancouver, British Columbia (February 17, 2022) – Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt:
0G3) ("Vizsla" or the "Company") is pleased to announce initial metallurgical test results for the Napoleon
Resource Area ("Napoleon") at its 100%-owned flagship Panuco silver-gold project ("Panuco" or the "Project")
located in Mexico.
Highlights:
• Open circuit rougher bulk flotation testing yielded recoveries of up to 93% for silver (Ag), 90% gold (Au),
94% lead (Pb), and 94% zinc (Zn);
• Open circuit rougher sequential flotation testing yielded lead and zinc concentrates with combined
recoveries up to 88% Ag, 88% Au, 96% pb and 96% Zn;
• Direct cyanide leach tests yielded recoveries of up to 87% Ag and 93% Au after 48 hours retention time;
and,
• Gravity separation testing highlighted recoveries of 29% Ag and 40% Au.
“The results of preliminary metallurgical testing at Napoleon are a major milestone for Panuco as it significantly
de-risks the Project ahead of the maiden resource in the first quarter of 2022,” commented Michael Konnert, Vizsla
President & CEO. “Given the historical production in the district, we had a good indication that Panuco metallurgy
would be amenable to standard processing methods. With high precious metals recoveries demonstrated through
a variety of different processing flowsheets, the Project has considerable flexibility in terms of processing
strategies. As we move forward, the project team will be able to evaluate and select the best option, or use multiple
processing options to optimize project returns.”
Metallurgical Test Program Overview
As the first metallurgical testing program conducted by Vizsla at Panuco, the objective was to assess the wide
range of viable processing alternatives that could be applied to successfully recover precious and base metals
from mineralized material at Napoleon. The metallurgical test program consisted of geo-metallurgical
characterization, comminution testing, cyanide leach testing, gravity recovery, grind size sensitivity, bulk and
sequential flotation assessments.
A total of ~330 kg of core material was selected from six mineralized drill holes defining ten litho-based point
samples. The rationale for sample selection considered primary lithologies, spatial coverage and representation,
contiguous mineralization, distribution of grade and potential dilution. The samples were blended to create a 65
kg master composite, which all subsequent tests were based on.
The test program was designed and supervised by Ausenco Engineering Canada Inc. and completed by ALS
Canada Ltd. out of Kamloops, BC.

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Process Option Stage Mass Recovery (%)
Global Recovery (%) Product Grade (% or g/t)
Ag Au Pb Zn Ag Au Pb Zn
Whole Ore Leach Direct Cyanidation Leach 100 87 93 - - - - - -
Bulk Sulfide Flotation*
Rougher Conc. 17.0 93 90 94 94 666 16 6.8 5.8
1 Stage Cleaner Conc 7.1 89 88 87 90 1,524 36 15.1 13.2
2 Stage Cleaner Conc 5.6 87 86 82 87 1888 45 18.1 16.2
Sequential Flotation*
Lead Rougher Conc 6.0 79 80 93 24 1,804 40 18.3 4.4
Zinc Rougher Conc 6.2 9 8 3 72 194 4 0.5 12.8
Lead Rougher Conc 6.0 79 80 93 24 1,804 40 18.3 4.4
1 Stage Cleaner Conc 2.1 71 76 87 12 4,656 110 49.1 6.3
2 Stage Cleaner Conc 1.7 68 74 83 9 5,550 134 58.4 5.7
Zinc Rougher Conc 6.2 9 8 3 72 194 4 0.5 12.8
1 Stage Cleaner Conc 1.7 8 7 2 71 628 13 1.4 47.2
2 Stage Cleaner Conc 1.4 7 7 1 71 692 15 1.2 56.2
Gravity Concentration
Knelson Concentrate 3.6 29 40 28 12 1,087 31 8.9 3.5
Tabled Knelson Conc 0.6 12 26 13 2 2,670 122 24.8 2.9
Table 1: Summary of results from optimized test work. *Open circuit tests
Sequential & Bulk Flotation: Conventional open circuit sequential lead rougher and zinc rougher flotation tests
were conducted on the master composite to assess the sample’s amenability to recover precious and base metals
into separate marketable lead and zinc concentrates. Grind size sensitivity analysis highlighted a P80 of 63 µm
as the potential optimum primary grind. Following the rougher steps, the individual lead and zinc concentrates
were reground (P80 of 19 µm for lead and 36 µm for zinc) and subjected (respectively) to a two-stage open circuit
cleaner flotation testwork.
Open circuit bulk rougher and cleaner flotation tests were conducted to investigate the sample’s amenability to
recover base and precious metals into a single marketable concentrate. The bulk rougher concentrate was
reground and subjected to open circuit cleaner flotation testwork consisting of two stages. Based on the
sequential flotation testing results, a P80 of 63 µm was selected as the primary grind, while 31 µm was selected
as the regrind target.
Cyanide Leaching: Bottle roll cyanidation testing was completed on the Napoleon master composite using a grind
size of P80 63 µm, retention time of 48 hours, and a pH of 11-11.5. Results indicate a strong extraction profile,
yielding 93% for gold and 87% for silver after 48 hours. Reagent consumption was 2.5 kg/tonne of NACN and 0.5
kg/tonne of lime. Liquor assays indicated low levels of impurities indicating leaching was highly successful in
selectively leaching precious metals from the mineralization with limited dissolution of other elements.
Gravity Testing: The program tested the Napoleon master composite response to gravity concentration via a
Knelson concentrator followed by a hand panning program. Consistent with the other tests, a grind size of P80
63 µm was selected. Whole ore gravity testing demonstrated that 40% Au and 29% Ag were recoverable.
Comminution: The Napoleon composite material is considered to be a moderately hard mill feed, returning a
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bond ball work index (BBWi) of 16.8 kWh/tonne, which is consistent with similar ore material from nearby
Mexican projects.
Future Work Programs
Based on these attractive results, the Company plans to complete further metallurgical testwork following the
announcement of its maiden resource estimate in Q1 2022.
Similar metallurgical testwork is currently underway for the Tajitos area mineralization. Once complete, the
combined metallurgical test results will guide the processing strategy for potential development of the western
portion of the Panuco district.
About the Panuco project
The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern
Sinaloa, Mexico, near the city of Mazatlán. The 6,754-hectare, past producing district benefits from over 75
kilometres of total vein extent, a 500 ton per day mill, 35 kilometres of underground mines, tailings facilities,
roads, power and permits.
The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous
volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks
correlated to the Tarahumara Formation.
About Vizsla Silver
Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, BC,
focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. To date,
Vizsla has completed over 120,000 meters of drilling at Panuco leading to the discovery of several new highgrade veins. With an ongoing fully funded +120,000-meter drill program, the Company is well positioned to
deliver a maiden project resource in the first quarter of 2022 while in parallel continuing to explore the significant
upside potential remaining in the district.
About Ausenco
Ausenco is a global company redefining what's possible. Their team is based across 26 offices in 14 countries,
with projects in over 80 locations worldwide. Combining their deep technical expertise with a 30-year track
record, they provide innovative, value-add consulting and engineering studies and project delivery, asset
operations and maintenance solutions to the mining & metals, oil & gas, and industrial sectors.
Quality Assurance / Quality Control
Drill core and rock samples were shipped to ALS Limited in Zacatecas, Zacatecas, Mexico and in North Vancouver,
Canada for sample preparation and for analysis at the ALS laboratory in North Vancouver. The ALS Zacatecas and
North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Silver and base metals were analyzed using
a four-acid digestion with an ICP finish and gold was assayed by 30-gram fire assay with atomic absorption ("AA")
spectroscopy finish. Over limit analyses for silver, lead and zinc were re-assayed using an ore-grade four-acid
digestion with AA finish.
Control samples comprising certified reference samples, duplicates and blank samples were systematically
inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control
protocol. vizslasilvercorp.ca 4

Qualified Person
The Company’s disclosure of metallurgical information in this press release has been collated and reviewed by
Kevin Murray, P.Eng, of Ausenco. All scientific and technical information in this press release has been reviewed
and approved by Martin Dupuis, P.Geo., Vice President of Technical Services for Vizsla. Messrs. Murray and
Dupuis are Qualified Persons as defined under the terms of National Instrument 43-101.

Contact Information: For more information and to sign-up to the mailing list, please contact:
Michael Konnert, President and Chief Executive Officer
Tel: (604) 364-2215
Email: info@vizslasilver.ca
Website: www.vizslasilvercorp.ca
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