Vancouver, British Columbia (September 17, 2019) – Vizsla Resources Corp. (TSX-V: VZLA) (“Vizsla“ or the “Company“) is pleased to announce that it has entered into a definitive share purchase agreement to acquire an option over the consolidated minerals rights, infrastructure and processing facilities comprising the large-scale Panuco-Copala (“Panuco“) precious metals camp in Sinaloa, Mexico.

Active and historical surface mapping implies that there are more than 75 kilometres of cumulative vein strike on the property and more than 31 active and historic mines within the veins. Historic production from these mines has not been recorded. Reportable historic drilling includes a diamond-drill intercept from one of these veins containing 2,235 g/t silver and 9.5 g/t gold over a 4.23 metre true width (Christopher and Sims, 2008).

Exploration work by the target will commence immediately with a view to be drilling within three months and completing a maiden resource later in 2020. Press releases reporting exploration results should be anticipated regularly over the coming weeks and months, subject to receiving the necessary regulatory approvals.

Under the definitive share purchase agreement dated September 13, 2019, Vizsla has agreed to acquire (the “Acquisition“) all of the outstanding shares of Canam Alpine Ventures Ltd. (“Canam“). Canam holds options (the “Options“) to acquire a 100% interest in the Panuco mining concessions and related infrastructure and processing facilities. Title to the property is currently held by the optionees.

“This transformative acquisition offers shareholders exposure to the potential of multiple high-grade silver and gold discoveries in a prolific district that has seen extremely limited modern exploration” commented Michael Konnert, President and Chief Executive Officer of Vizsla.

“The deal provides the Company with an option to acquire all of the assets within the district including over 35 kilometres of known underground workings, a mill, multiple tailings facilities, a significant road network, power and associated permits. We see significant exploration potential that, if confirmed, will lead us to exercise our option to acquire the mining and milling operations of the Panuco camp.”

Acquisition Highlights

• Consolidation of a district scale land package, comparable in size and geology to First Majestic’s San Dimas mine and Silvercrest’s Las Chispas project, containing more than 20 veins, several of which have demonstrated high silver and gold grades
• High-Grade Silver and Gold: With a total greater than 75 km of cumulative vein strike, Panuco hosts high grade silver and gold
• Very Limited Modern Exploration: This is the first time the entire district will be consolidated, and it has seen only sparse past exploration
• Production Facilities on Site: Canam has an option on the mill, mining equipment and tailings facilities on site
• Significant Infrastructure in Place: The district scale camp has substantial infrastructure including roads, permits, power and a skilled workforce in neighboring towns
• Location: Situated off a major highway, in the Sierra Madre epithermal belt, 80 km from First Majestic’s San Dimas mine.
• Accelerated Pathway to Production: Vizsly can exercise the Options after a two-year exploration period

Craig Parry, Chairman of the Board, stated, “Panuco is one of the best opportunities I’ve seen in my career. We have an option over one of the largest, most important historic mining districts in Mexico – consolidated for the first time ever in its history.

Our immediate objective is to delineate a resource that will support the decision to exercise our option over the existing mill and all the infrastructure and to advance the project into production should the technical feasibility and economic viability be established. Exploration targets are being explored by our team now. Several high-grade silver and gold zones have been uncovered and we look forward to drilling these zones in the coming months.”

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