VIZSLA SILVER REPORTS ADDITIONAL HIGH GRADE INTERCEPTS AT COPALA WITH GEOTECHNICAL DRILLING

Vizsla Silver (NYSE: VZLA) reported results from 11 geotechnical holes (part of 29 oriented holes, 10,578 m) at the Copala area of the Panuco project on Jan 13, 2026.

Rhea-AI Summary

Vizsla Silver (NYSE: VZLA) reported results from 11 geotechnical holes (part of 29 oriented holes, 10,578 m) at the Copala area of the Panuco project on Jan 13, 2026. Highlights include DDH-CAP-008B: 1,800 g/t AgEq over 3.80 mTW (including 3,833 g/t AgEq over 0.93 mTW) and DDH-CAP-003A: 840 g/t AgEq over 6.50 mTW plus a 2.00 mTW interval at 1,422 g/t AgEq. Copala hosts Measured 41.4 Moz AgEq @ 684 g/t and Indicated 82.8 Moz AgEq @ 600 g/t per the Dec 2, 2025 Feasibility Study. Company is advancing underground ramp and infill drilling to upgrade resources in 2026.

Positive

• DDH-CAP-008B 1,800 g/t AgEq over 3.80 mTW
• DDH-CAP-003A 840 g/t AgEq over 6.50 mTW
• Copala Measured 41.4 Moz AgEq at 684 g/t AgEq
• Copala Indicated 82.8 Moz AgEq at 600 g/t AgEq
• 10,578 m geotechnical drilling included in Feasibility Study

Negative

• Multiple holes reported No Significant Values
• Several reported intervals under 2 m true width

Argus Jan 13 session

-0.17% close to close Open Argus

Details

News Market Reaction – VZLA

In the Jan 13 session, VZLA declined 0.17%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details high-grade infill and geotechnical drilling at Copala, with intercepts up ...

Analysis

This announcement details high-grade infill and geotechnical drilling at Copala, with intercepts up to 3,833 g/t AgEq over 0.93 mTW supporting the existing resource model and feasibility work. It follows recent milestones including the Panuco NI 43‑101 feasibility report and a US$300M convertible notes financing aimed at development. Investors may watch how continued underground infill drilling, resource upgrades, and execution of the test mine and bulk sample program integrate into future technical and financial updates.

Key Figures

High-grade intercept: 1,800 g/t AgEq over 3.80 mTW Peak intercept: 3,833 g/t AgEq over 0.93 mTW Copala Measured resource: 41.4 Moz at 684 g/t AgEq +5 more

High-grade intercept

1,800 g/t AgEq over 3.80 mTW

DDH-CAP-008B at Copala

Peak intercept

3,833 g/t AgEq over 0.93 mTW

Included interval in DDH-CAP-008B

Copala Measured resource

41.4 Moz at 684 g/t AgEq

Copala Measured Resources

Copala Indicated resource

82.8 Moz at 600 g/t AgEq

Copala Indicated Resources

Copala Inferred resource

35.5 Moz at 476 g/t AgEq

Copala Inferred Resources

Geotech campaign length

10,578 m

Geotechnical drilling campaign (29 oriented holes)

Planned infill drilling

+13,000 m

Aggressive underground infill program at Copala and Cristiano

Metal price assumptions

$35.50/oz Ag, $3,100/oz Au

AgEq calculation assumptions

Historical Context

5 past events · Latest: Dec 18

5 events

1. Dec 18

   Strategic acquisition

   24h Move

   -1.7%

   Acquisition of 2,378 ha of strategic claims around Panuco.

2. Dec 09

   FS report filing

   24h Move

   +4.0%

   Filed NI 43-101 feasibility study technical report for Panuco.

3. Dec 02

   FS webinar & financing

   24h Move

   -0.2%

   Webinar on positive FS and announcement of convertible notes offering.

4. Nov 24

   Notes closing

   24h Move

   +6.5%

   Closed US$300M 5.00% convertible senior notes due 2031.

5. Nov 20

   Notes pricing

   24h Move

   -14.6%

   Priced US$250M 5.00% convertible notes with potential dilution.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ni 43-101, feasibility study, liDAR, metallurgical recoveries, +4 more

8 terms

ni 43-101 regulatory

"please refer to our Panuco Project, NI 43-101 Technical Report and Feasibility Study"

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

feasibility study technical

"Panuco Project, NI 43-101 Technical Report and Feasibility Study, Sinaloa State, Mexico"

A feasibility study is an assessment that evaluates whether a proposed project or idea is practical and likely to succeed before investing significant time and resources. It considers factors like costs, potential benefits, and challenges, helping stakeholders decide if moving forward makes sense. Think of it as a detailed plan that gauges if a new venture is worth pursuing.

liDAR technical

"surface geological mapping, supported with LiDAR, and near surface drilling"

Lidar, which stands for Light Detection and Ranging, is a technology that uses laser beams to create detailed, three-dimensional maps of the environment. It works like a sophisticated eye that measures distances by bouncing light off objects, helping machines see and understand their surroundings. For investors, lidar is important because it enables advancements in autonomous vehicles, robotics, and mapping, which can drive innovation and growth in related industries.

metallurgical recoveries technical

"metallurgical recoveries assumed are 92.3% for silver and 93.8% for gold"

Metallurgical recoveries are the percentage of a target metal that is successfully extracted from mined ore during processing and ends up in the final concentrate or product. Higher recoveries mean more saleable metal from the same amount of ore — like squeezing more juice from the same fruit — so they directly affect a mine’s revenue, unit costs and profitability, and are a key metric investors use to judge a project’s economic strength.

iso 9001 technical

"The SGS lab in Durango is ISO 9001 and ISO/IEC 17025 certified."

ISO 9001 is an international standard for a company’s quality management system that sets out how the organization documents and controls its processes to deliver consistent products or services. For investors, certification is like a stamp saying the company follows repeatable, audited procedures—this can lower operational risk, improve efficiency and customer trust, and make performance more predictable over time.

iso/iec 17025 technical

"The SGS lab in Durango is ISO 9001 and ISO/IEC 17025 certified."

An internationally recognized accreditation for testing and calibration laboratories that confirms they produce reliable, traceable results and follow consistent quality controls. Think of it like a professional license for labs: it shows their methods, equipment and staff competence meet independent standards, which matters to investors because accredited test data lowers technical and regulatory risk, supports product claims, and can speed approvals, supplier selection, and market trust.

fire assay technical

"gold was assayed by 30-gram fire assay with atomic absorption ("AA")"

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

atomic absorption technical

"fire assay with atomic absorption ("AA") spectroscopy finish."

A laboratory method that measures how much light free atoms absorb to determine the amount of a specific metal or element in a sample, like checking how much dye is in water by seeing how dark it looks. Investors care because it’s a standard way to test for contaminants, verify raw-material purity, and support regulatory compliance; results can affect product safety, cleanup costs, production quality, and a company’s legal or reputational risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NYSE: VZLA TSX: VZLA

VANCOUVER, BC, Jan. 13, 2026 /PRNewswire/ - Vizsla Silver Corp. (TSX: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla" or the "Company") is pleased to report results from 11 geotechnical drill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project ("Panuco" or the "Project") located in Mexico. The reported results correspond to 29 oriented geotechnical drill holes completed within the Copala, Tajitos and Napoleon resource areas between May 2025 and August 2025.

Highlights

• DDH-CAP-008B returned 1,800 grams per tonne (g/t) silver equivalent (AgEq) over 3.80 metres true width (mTW) (1,284 g/t silver and 7.51 g/t gold)
  • Including 3,833 g/t AgEq over 0.93 mTW (2,760 g/t silver and 15.70 g/t gold)

• DDH-CAP-003A returned 840 grams per tonne (g/t) silver equivalent (AgEq) over 6.50 metres true width (mTW) (681 g/t silver and 2.58 g/t gold)
  • Including 1,219 g/t AgEq over 0.91 mTW (1,046 g/t silver and 3.10 g/t gold)
  • Including 1,708 g/t AgEq over 1.83 mTW (1,428 g/t silver and 4.77 g/t gold)

• DDH-CAP-007B returned 424 grams per tonne (g/t) silver equivalent (AgEq) over 8.90 metres true width (mTW) (269 g/t silver and 2.15 g/t gold)
  • Including 1,357 g/t AgEq over 1.62 mTW (865 g/t silver and 6.82 g/t gold)

• DDH-CAP-003A returned 1,422 grams per tonne (g/t) silver equivalent (AgEq) over 2.00 metres true width (mTW) (850 g/t silver and 7.78 g/t gold)

"The results from the recently completed Geotechnical drill campaign not only support engineering studies for mine development but also serve as infill holes, validating the exceptional high-grade continuity at Copala", commented Michael Konnert, President & CEO. "Copala continues to impress with higher grades as drill spacing is reduced, particularly within years 1-3 of the feasibility study mine plan. We expect to continue upgrading resources through 2026 via underground drilling at Copala to further de-risk and enhance initial mine production."

The precious metals dominant Copala structure, located in the western portion of the Panuco district, is situated ~800 m to the east of the Napoleon Vein. Copala currently hosts Measured Resources of 41.4 Moz AgEq at 684 g/t AgEq, Indicated Resources of 82.8 Moz AgEq at 600 g/t AgEq and Inferred Resources of 35.5 Moz AgEq at 476 g/t AgEq within a broad envelope of vein-breccia interlayered with host rock, up to 82 metres thick (please refer to our Panuco Project, NI 43-101 Technical Report and Feasibility Study, Sinaloa State, Mexico, by Ausenco Engineering Canada ULC, dated December 2, 2025 and Vizsla's press release dated November 12, 2025). Observations and interpretations conducted by Vizsla geologists indicate that Copala has an average dip of ~46° to the east (~35° in its northern sector and steepening to ~65° in the southern sector).

Exploration and resource focused drilling at Copala have now traced mineralization along ~1,770 metres of strike length and ~400 metres down dip. Furthermore, surface geological mapping, supported with LiDAR, and near surface drilling conducted in 2024 (see press release dated June 26, 2024) led to the discovery of a historic mine adit on surface over the central zone of Copala where the initial years of production have been planned.

The 11 holes reported herein are part of 10,578 m geotechnical campaign comprised of 29 oriented holes completed for engineering studies that were included in Vizsla's recently announced Feasibility Study (please refer to our Panuco Project, NI 43-101 Technical Report and Feasibility Study, Sinaloa State, Mexico, by Ausenco Engineering Canada ULC, dated December 2, 2025 and Vizsla's press release dated November 12, 2025). Nine of the 11 holes intercepted Copala between 15 m or 50 m from previous drill holes and thus can be considered as infill holes. Additionally, eight of these holes intercepted Copala with significant grades, further demonstrating the excellent mineral continuity along the Vein.

Moreover, Vizsla Silver commenced a fully funded and permitted test mine and bulk sample program at Copala on December 11, 2024 (see press release dated December 11, 2024), which is focused on developing an underground ramp ("Morgan" ramp), lateral access and ore extraction from the 460-level on Copala. Development of the Morgan ramp on Copala has now provided Vizsla geologists with strategic positions to start an aggressive (+13k metres) infill drilling campaign designed to upgrade additional resources into the Indicated and Measured categories at Copala and Cristiano. Vizsla commenced its underground infill drilling program from the 480-level of the ramp on December 24, 2025 and plans to add a second rig at the 460-level in due course.

Drillhole	From	To	Downhole Length	Estimated True width	Ag	Au	AgEq	Vein
	(m)	(m)	(m)	(m)	(g/t)	(g/t)	(g/t)
DDH-CAP-001	No Significant Values							Copala 3
DDH-CAP-003A	363.36	366.00	2.64	2.00	850	7.78	1,422	Copala 3
DDH-CAP-003A	399.90	410.57	10.67	6.50	681	2.58	840	Copala
Including	399.90	401.40	1.50	0.91	1,046	3.10	1,219
Including	405.00	408.00	3.00	1.83	1,428	4.77	1,708
DDH-CAP-004A	No Significant Values							Copala 3
DDH-CAP-004A	332.45	337.15	4.70	4.50	316	1.87	444	Copala
Including	334.65	337.15	2.50	2.39	448	2.18	592
DDH-CAP-004A	348.85	351.50	2.65	2.30	158	0.54	190	Copala
DDH-CAP-004B	261.40	264.00	2.60	2.20	131	0.78	185	Copala
DDH-CAP-005A	No Significant Values							Copala 3
DDH-CAP-005A	308.85	312.00	3.15	2.60	179	0.99	247	Copala
DDH-CAP-006A	No Significant Values							Copala 3
DDH-CAP-006A	332.68	336.65	3.97	3.20	384	2.64	571	Copala
Including	332.68	333.90	1.22	0.98	835	7.19	1,360
DDH-CAP-007A	152.00	153.00	1.00	1.00	216	1.98	362	Copala
DDH-CAP-007B	181.15	190.75	9.60	8.90	269	2.15	424	Copala
Including	181.80	183.55	1.75	1.62	865	6.82	1,357
DDH-CAP-007B	246.10	246.95	0.85	0.80	665	3.01	861	Vein splay
DDH-CAP-007B	311.85	312.75	0.90	0.90	733	3.50	963	Copala 2
DDH-CAP-008A	154.00	154.40	0.40	0.35	182	1.56	296	Copala splay 1
DDH-CAP-008A	156.70	161.65	4.95	4.90	201	1.26	289	Copala
DDH-CAP-008A	172.60	174.10	1.50	1.40	139	1.09	217	Copala splay 2
DDH-CAP-008B	187.30	192.00	4.70	3.80	1,284	7.51	1,800	Copala
Including	189.00	190.15	1.15	0.93	2,760	15.70	3,833
DDH-CAP-009	No Significant Values							Copala
DDH-CAP-009	258.00	263.75	5.75	2.20	489	2.05	619	Cristiano
Including	261.00	262.95	1.95	0.75	1,229	5.64	1,596
DDH-CAP-009	No Significant Values							Copala

Note: AgEq = Ag g/t x Ag rec. + (Au g/t x Au Rec x Au price/gram)/Ag price/gram. Metal price assumptions are $35.50/oz silver and $3,100/oz gold and metallurgical recoveries assumed are 92.3% for silver and 93.8% for gold. Gold and silver metallurgical recoveries used in this release are from metallurgical test results of the Copala vein (see press release dated August 16, 2023)

Table 1: Downhole drill intersections from the holes reported for Copala, Copala 2, Copala 3 and Cristiano veins.

Drillhole	Easting	Northing	Elevation (m)	Azimuth	Dip	Depth (m)
DDH-CAP-001	405,122	2,586,384	648	257.0	-76.0	525.0
DDH-CAP-003A	404,813	2,586,854	638	164.0	-73.0	435.0
DDH-CAP-004A	404,812	2,586,855	638	223.0	-72.0	357.0
DDH-CAP-004B	404,813	2,586,855	638	272.0	-53.0	270.0
DDH-CAP-005A	404,827	2,587,009	596	275.0	-46.0	321.0
DDH-CAP-006A	404,828	2,587,009	595	292.0	-68.0	342.0
DDH-CAP-007A	404,652	2,587,161	568	290.0	-56.0	330.0
DDH-CAP-007B	404,653	2,587,161	568	320.0	-39.0	333.0
DDH-CAP-008A	404,674	2,587,217	533	294.0	-75.0	185.1
DDH-CAP-008B	404,674	2,587,217	533	330.0	-39.0	210.0
DDH-CAP-009	404,574	2,587,069	542	247.0	-66.0	336.8

Table 2: Drillhole details for the reported drillholes. Coordinates in WGS84, Zone 13.

Qualified Person

In accordance with NI 43-101, Jesus Velador, Ph.D. MMSA QP., Vice President of Exploration, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.

Quality Assurance / Quality Control

Drill core samples were shipped to SGS Lab in Durango Mexico for sample preparation and analysis. The SGS lab in Durango is 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.

About Vizsla Silver and the Panuco Project

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. The Company recently completed a Feasibility Study for Panuco in November 2025 which highlights 17.4 Moz AgEq of annual production over an initial 9.4-year mine life, an after-tax NPV(5%) of US$1.8B, 111% IRR and a 7-month payback at US$35.50/oz Ag and US$3,100/oz Au. Vizsla Silver aims to position itself as a leading silver company by implementing a dual track development approach at Panuco, advancing mine development while continuing district scale exploration through low-cost means.

Website: www.vizslasilvercorp.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release contains "forward-looking statements" and "forward-looking information" (together, "forward-looking statements") within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or performance and reflect management's expectations or beliefs regarding future events, plans, and objectives.

Forward-looking statements in this release include, but are not limited to, statements regarding management's plans, strategies, and future operations.

Forward-looking statements are based on a number of assumptions believed to be reasonable by the Company as of the date of this release, including, without limitation: the accuracy of the Feasibility Study parameters; the availability of financing on acceptable terms; that required permits and approvals will be obtained in the expected timeframe; continued community and government support; stability in market, political and economic conditions; reasonable accuracy of operating and capital cost estimates; and continued favourable metal prices and exchange rates.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such risks include, but are not limited to: exploration, development and operating risks; permitting, environmental and regulatory risks; community relations and social licence risks; commodity price and currency fluctuations; inflation and cost escalation; financing and liquidity risks; reliance on contractors and suppliers; title and surface rights risks; changes in project parameters; inaccuracies in technical or economic modelling; the risk that the Feasibility Study assumptions prove inaccurate; and other risks described in the Company's continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca.

There can be no assurance that the Panuco Project will be placed into production or that the results of the Feasibility Study will be realized. The purpose of the forward-looking statements is to provide information about management's current expectations and plans and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements contained herein.

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SOURCE Vizsla Silver Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Vizsla (VZLA) headline drill results at Copala on Jan 13, 2026?

Headline results include DDH-CAP-008B: 1,800 g/t AgEq over 3.80 mTW and DDH-CAP-003A: 840 g/t AgEq over 6.50 mTW.

How much drilling was included in Vizsla's geotechnical campaign at Panuco (VZLA)?

The campaign comprised 29 oriented holes totaling 10,578 metres, with 11 holes reported on Jan 13, 2026.

What Copala resource figures did Vizsla (VZLA) cite in the Jan 13, 2026 release?

Copala hosts Measured 41.4 Moz AgEq @ 684 g/t and Indicated 82.8 Moz AgEq @ 600 g/t per the Dec 2, 2025 Feasibility Study.

Will Vizsla (VZLA) continue drilling at Copala after the Jan 13, 2026 results?

Yes — the company plans further underground infill drilling in 2026 from the Morgan ramp to upgrade resources.

What does the AgEq calculation assume in Vizsla's Jan 13, 2026 drill release?

AgEq uses metal prices of $35.50/oz silver and $3,100/oz gold with recoveries 92.3% (Ag) and 93.8% (Au).

Do all reported Vizsla (VZLA) holes at Copala show high grades?

No — the release notes some holes returned no significant values, while others show high-grade continuity.