Vizsla Silver Corp.

Vizsla Silver Corp. is a junior silver exploration company headquartered in Vancouver, Canada, operating primarily in Mexico. The company's portfolio consists of 1 development project. Key assets include Panuco-Copala. The business model centers on the acquisition, exploration, and development of mineral resource properties, requiring specialized knowledge in geology, drilling, geophysics, and mine construction. A core operational characteristic is the in-depth metallurgical analysis to de-risk development. Preliminary test programs have been conducted to define processing pathways, including comminution testing which indicated hard material characteristics, with Bond ball mill work index values measured between 16.4 and 18.9 kWhr/tonne. Mineralogical assessments using QEMSCAN have been employed to understand host rock composition and mineralization. The company has investigated multiple recovery methods, including froth flotation for both sequential and bulk concentrate production. Further process optimization has been explored through various hydrometallurgical routes, including cyanide leaching of rougher flotation tails, intensive leaching of flotation concentrates, and whole feed leaching. This comprehensive testing approach, covering a range of primary grind sizes and processing flowsheets, demonstrates a technical, data-driven methodology to unlock value and mitigate processing risk ahead of development decisions.

Strategic priorities center on systematic resource expansion and project de-risking through targeted, data-driven programs. For 2024, the entity plans a significant drill program of approximately 65,000 meters aimed at upgrading and extending known mineralized zones. A key component of the de-risking strategy is a permitted test mine program to extract a 25,000-tonne bulk sample, with initial engineering and underground development initiated to validate geological models and processing assumptions. The growth strategy also includes district-scale consolidation, demonstrated by recent agreements to acquire large, historically productive land packages adjacent to its primary asset base. Capital management is supported by an at-the-market equity program, providing financial flexibility to fund these exploration and development initiatives. The corporate strategy has also involved creating focused value for shareholders through the spin-out of non-core assets into separate, specialized public companies, allowing the core entity to concentrate on its flagship development.

Executive leadership features founder and CEO Michael Konnert, recognized for expertise in deal-making and corporate development, alongside Chairman Craig Parry, a geologist with a track record of involvement in significant discoveries. The operational team is led by Chief Operating Officer Simon Cmrlec, a senior engineer with over 30 years of industry experience, including a previous role as COO at the global engineering firm Ausenco. The board of directors is composed of 7 members. Governance is guided by a detailed Audit and Risk Committee Charter, which mandates a committee of at least 3 independent, financially literate directors, with at least 1 designated as a financial expert. This committee meets at least 4 times annually, maintains a direct line of communication with external auditors independent of management, and oversees risk management policies, internal controls, and financial reporting integrity. This governance framework ensures rigorous oversight and aligns management actions with long-term shareholder interests.

The corporate structure has been actively shaped through several strategic transactions. In 2021, the organization completed a spin-out of certain exploration assets into a new, separate entity, Vizsla Copper Corp., to create a focused vehicle for those properties. A strategic investment was made in Prismo Metals Inc. in 2023, through which the company acquired 4,000,000 units and secured a right of first refusal on one of Prismo's projects. A major reorganization was executed in June 2024 with the spin-out of a royalty portfolio into Vizsla Royalties Corp. via a plan of arrangement. Following this transaction, the parent company retained a controlling interest of approximately 50.8% in the newly formed, publicly reporting royalty entity. The company's operational activities are conducted through a series of wholly-owned subsidiaries, including Canam Alpine Ventures Ltd. and its own sub-entities. These structural adjustments reflect a strategy of streamlining the core business while creating and retaining direct and indirect value in specialized, related ventures.