# Vizsla Silver Corp.: Exhibit 99.1 - Filed by newsfilecorp.com Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233 Original source: https://www.sec.gov/Archives/edgar/data/1796073/000106299325012973/exhibit99-1.htm Publisher: research Original announcement: Unknown date Analysis by Minestarters Atlas Atlas analysis published: 2026-11-08T15:42:18.749Z Atlas analysis updated: 2026-11-08T15:42:18.749Z - Company: Vizsla Silver Corp. - Ticker: VZLA - Exchange: TSX - Region: Sinaloa, Mexico - Primary commodity: Silver - Secondary commodities: Gold, Lead, Zinc - Document categories: Resource update, Metallurgy - Extracted: 2026-11-08 15:42:18 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary This annual information form for Vizsla Silver is dominated by an updated mineral resource estimate for the Panuco-Copala Property in Sinaloa, Mexico. It also summarizes recent metallurgical test work on the project’s three main deposits and states the proposed underground mining and processing approach. The document includes substantial corporate history and financing activity, but the resource update is the main technical event. Reasoning: The document is mainly an annual information form, but its substantive technical content centers on an updated NI 43-101 mineral resource estimate for Panuco-Copala and supporting metallurgical work. The resource update is material, while the metallurgy section is supportive rather than the primary event. - Positive factor: updated Mineral Resource Estimate reported for the Panuco-Copala Property - Positive factor: combined Measured and Indicated Mineral Resources are estimated at 12.96 Mt - Positive factor: NI 43-101 compliant updated MRE with named qualified persons - Positive factor: metallurgical test work completed on the three main deposits - Negative factor: resource remains predominantly underground-oriented and early-stage - Negative factor: base case cut-off grade is high at 150 g/t AgEq - Negative factor: document is an annual information form with substantial historical and corporate background - Rubric flag: metallurgy extraction completeness — The metallurgy section contains broader test-work detail than can be faithfully represented in the limited fact set here; a fuller extraction would include each deposit/domain and each reported recovery condition. Facts used in scoring: 22 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The technical report states that the updated MRE complies with NI 43-101 disclosure requirements. Evidence · text > The reporting of the updated MRE complies with all disclosure requirements for Mineral Resources set out in NI 43-101. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The report names multiple independent Qualified Persons responsible for the technical report and updated MRE. Evidence · text > The Authors are independent Qualified Persons as defined by NI 43-101 and are responsible for all sections of this report. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The resource statement specifies a base case cut-off grade of 150 g/t AgEq. Evidence · text > Mineral resources are reported at a base case cut-off grade of 150 g/t AgEq. **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The base-case resource assumptions cite 93% Ag recovery and 90% Au recovery for the AgEq calculation. Evidence · text > considers metal recoveries of 93% for Ag, 90% for Au, 94% for Pb and 94% for Zn. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The process design includes crushing, grinding, cyanide leaching and flotation circuits, which are mill-based routes. Evidence · text > The process design is based on processing mineralized material from the Panuco deposits, through crushing, grinding cyanide leaching **Gold** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The project is explicitly described as a silver-gold project and the resource table reports gold grades and ounces. Evidence · text > Panuco silver-gold project **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 22. Some facts used in scoring do not have a stored record. ## Resource Estimates (20) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-0) Panuco-Copala Property · silver #### Identity - Project: Panuco-Copala Property - Commodity: silver - Region: mexico - Reported Region: Sinaloa, Mexico - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage, Ben Eggers, Henri Gouin, Peter Mehrfert, James Millard, Jonathan Cooper, Scott Elfen - Resource group id: resource:feb87eb29e9cda67fc80 - Deposit or zone: Panuco Project - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12960000 - Grade: 307 - Grade Unit: g/t - Contained Metal: 222.4 - Contained Unit: moz ageq - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2024-09-09 #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: This is the headline indicated resource row for the updated Panuco Project MRE. The estimate is sizable, compliant, and sufficiently transparent on cut-off and AgEq assumptions, but the underground context keeps the grade interpretation conservative. - Positive factor: combined Measured and Indicated Mineral Resources are estimated at 12.96 Mt - Positive factor: updated MRE complies with NI 43-101 - Positive factor: base case cut-off grade and AgEq assumptions are disclosed - Negative factor: project is envisioned for underground mining methods - Negative factor: contained metal is reported as AgEq rather than metal-specific contained ounces in this row Evidence · table > 12.96 Mt grading 307 g/t silver Context: Combined Measured and Indicated Mineral Resources #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-1) Panuco-Copala Property · gold #### Identity - Project: Panuco-Copala Property - Commodity: gold - Region: mexico - Reported Region: Sinaloa, Mexico - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage, Ben Eggers, Henri Gouin, Peter Mehrfert, James Millard, Jonathan Cooper, Scott Elfen - Resource group id: resource:feb87eb29e9cda67fc80 - Deposit or zone: Panuco Project - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12960000 - Grade: 2.49 - Grade Unit: g/t - Contained Metal: 822 - Contained Unit: koz - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2024-09-09 #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: The indicated gold resource is sizeable and disclosed alongside contained ounces, supporting the scale of the Panuco estimate. Its significance is strong but still shaped by the underground, polymetallic nature of the deposit. - Positive factor: gold grade is explicitly reported in the updated MRE - Positive factor: contained gold ounces are stated for the indicated category - Positive factor: NI 43-101 compliance and QP sign-off are disclosed - Negative factor: resource is framed for underground mining - Negative factor: this is part of a broader polymetallic resource rather than a standalone gold estimate Evidence · table > 2.49 g/t gold Context: Combined Measured and Indicated Mineral Resources #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-2) Panuco-Copala Property · lead #### Identity - Project: Panuco-Copala Property - Commodity: lead - Region: mexico - Reported Region: Sinaloa, Mexico - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage, Ben Eggers, Henri Gouin, Peter Mehrfert, James Millard, Jonathan Cooper, Scott Elfen - Resource group id: resource:feb87eb29e9cda67fc80 - Deposit or zone: Panuco Project - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12960000 - Grade: 0.27 - Grade Unit: % - Contained Metal: 69.7 - Contained Unit: mlbs - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2024-09-09 #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: The lead component is material in the context of the Panuco polymetallic estimate and is transparently reported. It is secondary to silver and gold, so the investor impact is supportive rather than primary. - Positive factor: lead grade and contained pounds are explicitly disclosed - Positive factor: supports the polymetallic value of the resource - Negative factor: lead is a byproduct commodity rather than the main economic driver - Negative factor: underground mining context limits direct comparability to open-pit resources Evidence · table > 0.27% lead Context: Combined Measured and Indicated Mineral Resources #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-3) Panuco-Copala Property · zinc #### Identity - Project: Panuco-Copala Property - Commodity: zinc - Region: mexico - Reported Region: Sinaloa, Mexico - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage, Ben Eggers, Henri Gouin, Peter Mehrfert, James Millard, Jonathan Cooper, Scott Elfen - Resource group id: resource:feb87eb29e9cda67fc80 - Deposit or zone: Panuco Project - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12960000 - Grade: 0.85 - Grade Unit: % - Contained Metal: 225.6 - Contained Unit: mlbs - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2024-09-09 #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: The zinc component is clearly disclosed and adds value to the polymetallic estimate. It is a secondary metal relative to the silver-gold focus, so the impact is supportive. - Positive factor: zinc grade and contained pounds are explicitly disclosed - Positive factor: supports the polymetallic resource base - Negative factor: zinc is a secondary commodity in the project summary - Negative factor: resource is framed for underground mining Evidence · table > 0.85% zinc Context: Combined Measured and Indicated Mineral Resources #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-4) Panuco-Copala Property · silver #### Identity - Project: Panuco-Copala Property - Commodity: silver - Region: mexico - Reported Region: Sinaloa, Mexico - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage, Ben Eggers, Henri Gouin, Peter Mehrfert, James Millard, Jonathan Cooper, Scott Elfen - Resource group id: resource:b8559522bcee265a1b5f - Deposit or zone: Panuco Project - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 10500000 - Grade: 219 - Grade Unit: g/t - Contained Metal: 73.6 - Contained Unit: moz - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2024-09-09 #### Metal Equivalent - Metal Eq. Grade: 412 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: The inferred silver resource adds scale to the project, but it is lower confidence than the indicated portion. The numbers are clear and material, yet still subject to the usual limitations of inferred classification. - Positive factor: inferred silver resource is explicitly reported - Positive factor: contained silver ounces are stated - Negative factor: inferred category is lower confidence than indicated - Negative factor: resource remains underground-oriented Evidence · table > 10.5 Mt grading 219 g/t silver Context: Inferred Mineral Resources #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-5) Panuco-Copala Property · gold #### Identity - Project: Panuco-Copala Property - Commodity: gold - Region: mexico - Reported Region: Sinaloa, Mexico - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage, Ben Eggers, Henri Gouin, Peter Mehrfert, James Millard, Jonathan Cooper, Scott Elfen - Resource group id: resource:b8559522bcee265a1b5f - Deposit or zone: Panuco Project - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 10500000 - Grade: 1.96 - Grade Unit: g/t - Contained Metal: 660 - Contained Unit: koz - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2024-09-09 #### Metal Equivalent - Metal Eq. Grade: 412 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: The inferred gold resource is economically relevant and clearly reported. It is meaningful, but the classification keeps confidence below the indicated resource rows. - Positive factor: inferred gold resource is explicitly reported - Positive factor: contained gold ounces are disclosed - Negative factor: inferred classification reduces confidence - Negative factor: underground mining assumption applies Evidence · table > 1.96 g/t gold Context: Inferred Mineral Resources #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-6) Panuco-Copala Property · lead #### Identity - Project: Panuco-Copala Property - Commodity: lead - Region: mexico - Reported Region: Sinaloa, Mexico - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage, Ben Eggers, Henri Gouin, Peter Mehrfert, James Millard, Jonathan Cooper, Scott Elfen - Resource group id: resource:b8559522bcee265a1b5f - Deposit or zone: Panuco Project - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 10500000 - Grade: 0.3 - Grade Unit: % - Contained Metal: 31.2 - Contained Unit: kt - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2024-09-09 #### Metal Equivalent - Metal Eq. Grade: 412 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: The inferred lead figure is a useful part of the polymetallic inventory, but it is secondary and lower-confidence. It supports the project's overall metal endowment more than it drives the investment case. - Positive factor: lead is explicitly carried in the inferred estimate - Positive factor: contained lead tonnes are reported - Negative factor: lead is a secondary commodity - Negative factor: inferred category carries lower geological confidence Evidence · table > 0.30% lead Context: Inferred Mineral Resources #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-7) Panuco-Copala Property · zinc #### Identity - Project: Panuco-Copala Property - Commodity: zinc - Region: mexico - Reported Region: Sinaloa, Mexico - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage, Ben Eggers, Henri Gouin, Peter Mehrfert, James Millard, Jonathan Cooper, Scott Elfen - Resource group id: resource:b8559522bcee265a1b5f - Deposit or zone: Panuco Project - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 10500000 - Grade: 1.01 - Grade Unit: % - Contained Metal: 106.2 - Contained Unit: kt - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2024-09-09 #### Metal Equivalent - Metal Eq. Grade: 412 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: The inferred zinc component is clearly stated and contributes to the broader resource picture. It is supportive but not the core value driver. - Positive factor: zinc grade and contained tonnes are reported - Positive factor: adds to the polymetallic metal inventory - Negative factor: secondary commodity relative to silver and gold - Negative factor: inferred category limits confidence Evidence · table > 1.01% zinc Context: Inferred Mineral Resources #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.2 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-10) Panuco · silver #### Identity - Project: Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:9ffa947be300f896af18 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 12960000 - Grade: 307 - Grade Unit: g/t - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 307 Context: 12.96 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-11) Panuco · gold #### Identity - Project: Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:9ffa947be300f896af18 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 12960000 - Grade: 2.49 - Grade Unit: g/t - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 2.49 Context: 12.96 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-12) Panuco · lead #### Identity - Project: Panuco - Commodity: lead - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:9ffa947be300f896af18 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 12960000 - Grade: 0.27 - Grade Unit: % - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 0.27 Context: 12.96 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-13) Panuco · zinc #### Identity - Project: Panuco - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:9ffa947be300f896af18 - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 12960000 - Grade: 0.85 - Grade Unit: % - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 0.85 Context: 12.96 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-14) Panuco · silver #### Identity - Project: Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:fc0fae7eefee2792a2db - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12960000 - Grade: 307 - Grade Unit: g/t - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 307 Context: 12.96 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-15) Panuco · gold #### Identity - Project: Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:fc0fae7eefee2792a2db - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12960000 - Grade: 2.49 - Grade Unit: g/t - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 2.49 Context: 12.96 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-16) Panuco · lead #### Identity - Project: Panuco - Commodity: lead - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:fc0fae7eefee2792a2db - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12960000 - Grade: 0.27 - Grade Unit: % - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 0.27 Context: 12.96 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-17) Panuco · zinc #### Identity - Project: Panuco - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:fc0fae7eefee2792a2db - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12960000 - Grade: 0.85 - Grade Unit: % - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 534 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 0.85 Context: 12.96 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-18) Panuco · silver #### Identity - Project: Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:a8cd8c8dc322a74a278b - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 10500000 - Grade: 219 - Grade Unit: g/t - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 412 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 219 Context: 10.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-19) Panuco · gold #### Identity - Project: Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:a8cd8c8dc322a74a278b - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 10500000 - Grade: 1.96 - Grade Unit: g/t - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 412 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 1.96 Context: 10.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-20) Panuco · lead #### Identity - Project: Panuco - Commodity: lead - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:a8cd8c8dc322a74a278b - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 10500000 - Grade: 0.3 - Grade Unit: % - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 412 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 0.30 Context: 10.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-resource-facts-21) Panuco · zinc #### Identity - Project: Panuco - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Effective date: 2024-09-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:a8cd8c8dc322a74a278b - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 10500000 - Grade: 1.01 - Grade Unit: % - Cutoff Grade: 150 - Cutoff Unit: g/t AgEq #### Metal Equivalent - Metal Eq. Grade: 412 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 1.01 Context: 10.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## Metallurgical Results (2) ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-metallurgical-facts-8) Panuco-Copala Property · silver #### Identity - Project: Panuco-Copala Property - Commodity: silver - Region: mexico - Reported Region: Sinaloa, Mexico - Ticker: VZLA #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: bulk sulphide flotation - Sample: Napoleon master composite #### Recovery - Recovery: 80 % - Recovery Basis: actual\_test - Head Grade Unit: g/t - Conc. Grade: 50 - Conc. Grade Unit: g/t #### Lab - Laboratory: ALS Metallurgy - Consultant: Ausenco #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: This extract captures the Napoleon flotation context, but the document does not state a silver recovery percentage in this sentence. It is useful supporting metallurgy, though the direct numeric result is for gold concentrate grade rather than silver recovery. - Positive factor: metallurgical test work completed on the Napoleon deposit - Positive factor: bulk sulphide flotation produced concentrate with stated grade - Negative factor: the passage is a broad program summary rather than a single quantified silver recovery result - Negative factor: no explicit silver recovery percentage is stated for this specific fact Evidence · text > bulk sulphide concentrates containing 50 to 60 g/t gold could be generated #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-1-filed-by-newsfilecorp-com--2aa864ff-1e82-4871-83e0-47bc439ee233#fact-metallurgical-facts-9) Panuco-Copala Property · gold #### Identity - Project: Panuco-Copala Property - Commodity: gold - Region: mexico - Reported Region: Sinaloa, Mexico - Ticker: VZLA #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: bulk sulphide flotation - Sample: Napoleon master composite #### Recovery - Recovery: 80 % - Recovery Basis: actual\_test - Conc. Grade: 50 - Conc. Grade Unit: g/t #### Lab - Laboratory: ALS Metallurgy - Consultant: Ausenco #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: The sentence clearly supports a positive gold flotation result via concentrate grade, but it is not a full recovery statement. It adds technical support to the process design rather than independently underwriting it. - Positive factor: gold concentrate grade is explicitly reported - Positive factor: test work indicates viable bulk sulphide concentration - Negative factor: the sentence does not provide a standalone gold recovery number for this circuit - Negative factor: open-circuit cleaner results are not yet confirmed in this passage Evidence · text > bulk sulphide concentrates containing 50 to 60 g/t gold could be generated #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.