# Vizsla Silver Corp.: Exhibit 99.2 - Filed by newsfilecorp.com Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294 Original source: https://www.sec.gov/Archives/edgar/data/1796073/000106299324011181/exhibit99-2.htm Publisher: research Original announcement: Unknown date Analysis by Minestarters Atlas Atlas analysis published: 2026-11-08T15:30:50.163Z Atlas analysis updated: 2026-11-08T15:30:50.163Z - Company: Vizsla Silver Corp. - Ticker: VZLA - Exchange: TSX - Region: British Columbia, Canada - Primary commodity: Silver - Secondary commodities: Gold - Document categories: Other, Resource update - Extracted: 2026-11-08 15:30:50 UTC Narrative sentiment: 0.10 · Bullish ## Minestarters Atlas summary Vizsla Silver is asking shareholders to approve a plan of arrangement to spin out Vizsla Royalties Corp. The circular sets out the meeting date, voting procedures, dissent rights, and the expected exchange terms for New Vizsla Silver shares, Spinco shares and Spinco warrants. It is a corporate restructuring document rather than an exploration or production update. Reasoning: A shareholder circular about a proposed arrangement/spinout, not a technical mining result announcement. - Positive factor: Describes a proposed plan of arrangement to spin out Vizsla Royalties Corp. and separate the company into two focused businesses. - Positive factor: Includes specific effective date, meeting date, and warrant terms for the spinout structure. - Negative factor: No mineral exploration, drilling, resource, metallurgy, production or financing results are reported in this document. - Negative factor: Primarily corporate and administrative disclosure. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 63 ## Classification and evidence **Corporate Action** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document is a management information circular for a proposed plan of arrangement and shareholder vote. Evidence · text > proposed PLAN OF ARRANGEMENT **Spinout** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The release describes spinning out Vizsla Royalties Corp. into a separate listed company. Evidence · text > spin out Vizsla Royalties Corp. \(" Spinco "\) from the Company **Dissent Rights** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The circular explicitly describes dissent rights for registered shareholders. Evidence · text > Registered Shareholders have a right of dissent **Shareholder Vote** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: Shareholders are asked to vote on the arrangement and Spinco option plan at the special meeting. Evidence · text > Shareholders will be asked to consider the following matters ## Extracted facts Stored fact records: 62. Some facts used in scoring do not have a stored record. ## Resource Estimates (62) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-1) Table 11 Panuco · gold #### Identity - Project: Table 11 Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:cc38ff17507c632579c8 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9480000 - Grade: 2.41 - Grade Unit: g/t - Contained Metal: 736 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 511 - Metal Eq. Unit: g/t AgEq #### 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 > 2.41 Context: 9.48 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-2) Table 11 Panuco · silver #### Identity - Project: Table 11 Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:cc38ff17507c632579c8 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9480000 - Grade: 289 - Grade Unit: g/t - Contained Metal: 88192 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 511 - Metal Eq. Unit: g/t AgEq #### 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 > 289 Context: 9.48 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-3) Table 11 Panuco · zinc #### Identity - Project: Table 11 Panuco - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:cc38ff17507c632579c8 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9480000 - Grade: 0.84 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 511 - Metal Eq. Unit: g/t AgEq #### 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 > 0.84 Context: 9.48 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-4) Table 11 Panuco · gold #### Identity - Project: Table 11 Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:2fdc40f82ce1d6b4dec8 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12190000 - Grade: 1.93 - Grade Unit: g/t - Contained Metal: 758 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 433 - Metal Eq. Unit: g/t AgEq #### 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 > 1.93 Context: 12.19 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-5) Table 11 Panuco · silver #### Identity - Project: Table 11 Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:2fdc40f82ce1d6b4dec8 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12190000 - Grade: 239 - Grade Unit: g/t - Contained Metal: 93653 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 433 - Metal Eq. Unit: g/t AgEq #### 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 > 239 Context: 12.19 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-6) Table 11 Panuco · zinc #### Identity - Project: Table 11 Panuco - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:2fdc40f82ce1d6b4dec8 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12190000 - Grade: 1.03 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 433 - Metal Eq. Unit: g/t AgEq #### 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 > 1.03 Context: 12.19 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-7) Table 12 Panuco · gold #### Identity - Project: Table 12 Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:77d13e8aae215ee9a0d5 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 4520000 - Grade: 2.46 - Grade Unit: g/t - Contained Metal: 358 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 573 - Metal Eq. Unit: g/t AgEq #### 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 > 2.46 Context: 4.52 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-8) Table 12 Panuco · silver #### Identity - Project: Table 12 Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:77d13e8aae215ee9a0d5 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 4520000 - Grade: 380 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 573 - Metal Eq. Unit: g/t AgEq #### 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 > 380 Context: 4.52 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-9) Table 12 Panuco · gold #### Identity - Project: Table 12 Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:be2b6380c7ef9bacde0a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 3160000 - Grade: 1.77 - Grade Unit: g/t - Contained Metal: 179 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 476 - Metal Eq. Unit: g/t AgEq #### 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 > 1.77 Context: 3.16 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-10) Table 12 Panuco · silver #### Identity - Project: Table 12 Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:be2b6380c7ef9bacde0a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 3160000 - Grade: 332 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 476 - Metal Eq. Unit: g/t AgEq #### 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 > 332 Context: 3.16 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-11) Table 12 Panuco · gold #### Identity - Project: Table 12 Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:3a17dd899951da48bed1 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 630000 - Grade: 2.24 - Grade Unit: g/t - Contained Metal: 46 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 538 - Metal Eq. Unit: g/t AgEq #### 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 > 2.24 Context: 0.63 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-12) Table 12 Panuco · silver #### Identity - Project: Table 12 Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:3a17dd899951da48bed1 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 630000 - Grade: 358 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 538 - Metal Eq. Unit: g/t AgEq #### 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 > 358 Context: 0.63 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-13) Table 12 Panuco · gold #### Identity - Project: Table 12 Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:50ad68dd859d106aca9b - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1040000 - Grade: 2.04 - Grade Unit: g/t - Contained Metal: 69 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 540 - Metal Eq. Unit: g/t AgEq #### 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 > 2.04 Context: 1.04 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-14) Table 12 Panuco · silver #### Identity - Project: Table 12 Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:50ad68dd859d106aca9b - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1040000 - Grade: 365 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 540 - Metal Eq. Unit: g/t AgEq #### 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 > 365 Context: 1.04 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-15) Table 12 Panuco · gold #### Identity - Project: Table 12 Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:65dce24ca7444f64dcad - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 210000 - Grade: 3.37 - Grade Unit: g/t - Contained Metal: 23 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 858 - Metal Eq. Unit: g/t AgEq #### 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 > 3.37 Context: 0.21 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-16) Table 12 Panuco · silver #### Identity - Project: Table 12 Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:65dce24ca7444f64dcad - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 210000 - Grade: 581 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 858 - Metal Eq. Unit: g/t AgEq #### 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 > 581 Context: 0.21 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-17) Table 12 Panuco · gold #### Identity - Project: Table 12 Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:0244b9f86703074ebe87 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 720000 - Grade: 2.54 - Grade Unit: g/t - Contained Metal: 59 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 650 - Metal Eq. Unit: g/t AgEq #### 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 > 2.54 Context: 0.72 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-18) Table 12 Panuco · silver #### Identity - Project: Table 12 Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:0244b9f86703074ebe87 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 720000 - Grade: 443 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 650 - Metal Eq. Unit: g/t AgEq #### 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 > 443 Context: 0.72 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-19) Table 12 Panuco · gold #### Identity - Project: Table 12 Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:0d40946f8f313dac9d01 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 5370000 - Grade: 2.48 - Grade Unit: g/t - Contained Metal: 427 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 580 - Metal Eq. Unit: g/t AgEq #### 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 > 2.48 Context: 5.37 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-20) Table 12 Panuco · silver #### Identity - Project: Table 12 Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:0d40946f8f313dac9d01 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 5370000 - Grade: 385 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 580 - Metal Eq. Unit: g/t AgEq #### 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 > 385 Context: 5.37 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-21) Table 12 Panuco · gold #### Identity - Project: Table 12 Panuco - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:f3d0a8ab0659409557d8 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4920000 - Grade: 1.94 - Grade Unit: g/t - Contained Metal: 307 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 515 - Metal Eq. Unit: g/t AgEq #### 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 > 1.94 Context: 4.92 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-22) Table 12 Panuco · silver #### Identity - Project: Table 12 Panuco - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:f3d0a8ab0659409557d8 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4920000 - Grade: 355 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 515 - Metal Eq. Unit: g/t AgEq #### 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 > 355 Context: 4.92 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-23) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:ef8514fbc52184905a06 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 270000 - Grade: 2.56 - Grade Unit: g/t - Contained Metal: 22 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 459 - Metal Eq. Unit: g/t AgEq #### 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 > 2.56 Context: 0.27 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-24) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:ef8514fbc52184905a06 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 270000 - Grade: 177 - Grade Unit: g/t - Contained Metal: 1556 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 459 - Metal Eq. Unit: g/t AgEq #### 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 > 177 Context: 0.27 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-25) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:ef8514fbc52184905a06 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 270000 - Grade: 2.01 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 459 - Metal Eq. Unit: g/t AgEq #### 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 > 2.01 Context: 0.27 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-26) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:30b59d277d8babc20af0 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2040000 - Grade: 2.13 - Grade Unit: g/t - Contained Metal: 139 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 386 - Metal Eq. Unit: g/t AgEq #### 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 > 2.13 Context: 2.04 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-27) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:30b59d277d8babc20af0 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2040000 - Grade: 159 - Grade Unit: g/t - Contained Metal: 10439 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 386 - Metal Eq. Unit: g/t AgEq #### 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 > 159 Context: 2.04 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-28) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:30b59d277d8babc20af0 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2040000 - Grade: 1.51 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 386 - Metal Eq. Unit: g/t AgEq #### 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 > 1.51 Context: 2.04 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-29) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:3de1d509d98ccebe7e2c - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 30000 - Grade: 2.01 - Grade Unit: g/t - Contained Metal: 2 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 373 - Metal Eq. Unit: g/t AgEq #### 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 > 2.01 Context: 0.03 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-30) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:3de1d509d98ccebe7e2c - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 30000 - Grade: 144 - Grade Unit: g/t - Contained Metal: 153 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 373 - Metal Eq. Unit: g/t AgEq #### 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 > 144 Context: 0.03 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-31) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:3de1d509d98ccebe7e2c - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 30000 - Grade: 1.71 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 373 - Metal Eq. Unit: g/t AgEq #### 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 > 1.71 Context: 0.03 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-32) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:85b144c98e14d4c0441d - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 310000 - Grade: 3.75 - Grade Unit: g/t - Contained Metal: 37 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 519 - Metal Eq. Unit: g/t AgEq #### 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 > 3.75 Context: 0.31 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-33) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:85b144c98e14d4c0441d - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 310000 - Grade: 170 - Grade Unit: g/t - Contained Metal: 1698 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 519 - Metal Eq. Unit: g/t AgEq #### 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 > 170 Context: 0.31 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-34) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:85b144c98e14d4c0441d - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 310000 - Grade: 1.48 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 519 - Metal Eq. Unit: g/t AgEq #### 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 > 1.48 Context: 0.31 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-35) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:40db53d899caf30aad18 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 70000 - Grade: 2.88 - Grade Unit: g/t - Contained Metal: 6 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 492 - Metal Eq. Unit: g/t AgEq #### 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 > 2.88 Context: 0.07 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-36) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:40db53d899caf30aad18 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 70000 - Grade: 221 - Grade Unit: g/t - Contained Metal: 491 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 492 - Metal Eq. Unit: g/t AgEq #### 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 > 221 Context: 0.07 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-37) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:40db53d899caf30aad18 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 70000 - Grade: 1.11 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 492 - Metal Eq. Unit: g/t AgEq #### 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 > 1.11 Context: 0.07 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-38) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:b8613f7065eb55f1eb7d - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 220000 - Grade: 2.05 - Grade Unit: g/t - Contained Metal: 15 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 364 - Metal Eq. Unit: g/t AgEq #### 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 > 2.05 Context: 0.22 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-39) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:b8613f7065eb55f1eb7d - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 220000 - Grade: 161 - Grade Unit: g/t - Contained Metal: 1161 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 364 - Metal Eq. Unit: g/t AgEq #### 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 > 161 Context: 0.22 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-40) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:b8613f7065eb55f1eb7d - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 220000 - Grade: 1 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 364 - Metal Eq. Unit: g/t AgEq #### 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 > 1.00 Context: 0.22 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-41) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:30a75d080c46179d1962 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 430000 - Grade: 1.72 - Grade Unit: g/t - Contained Metal: 24 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 365 - Metal Eq. Unit: g/t AgEq #### 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 > 1.72 Context: 0.43 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-42) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:30a75d080c46179d1962 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 430000 - Grade: 164 - Grade Unit: g/t - Contained Metal: 2259 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 365 - Metal Eq. Unit: g/t AgEq #### 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 > 164 Context: 0.43 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-43) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:30a75d080c46179d1962 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 430000 - Grade: 1.53 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 365 - Metal Eq. Unit: g/t AgEq #### 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 > 1.53 Context: 0.43 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-44) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:8b7030716c969a3e73a6 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 850000 - Grade: 2.17 - Grade Unit: g/t - Contained Metal: 59 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 479 - Metal Eq. Unit: g/t AgEq #### 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 > 2.17 Context: 0.85 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-45) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:8b7030716c969a3e73a6 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 850000 - Grade: 220 - Grade Unit: g/t - Contained Metal: 5976 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 479 - Metal Eq. Unit: g/t AgEq #### 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 > 220 Context: 0.85 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-46) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:8b7030716c969a3e73a6 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 850000 - Grade: 2.02 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 479 - Metal Eq. Unit: g/t AgEq #### 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 > 2.02 Context: 0.85 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-47) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:6e5acf5eba2d9c66d52a - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 3310000 - Grade: 2.39 - Grade Unit: g/t - Contained Metal: 255 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 425 - Metal Eq. Unit: g/t AgEq #### 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 > 2.39 Context: 3.31 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-48) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:6e5acf5eba2d9c66d52a - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 3310000 - Grade: 162 - Grade Unit: g/t - Contained Metal: 17276 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 425 - Metal Eq. Unit: g/t AgEq #### 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 > 162 Context: 3.31 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-49) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:6e5acf5eba2d9c66d52a - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 3310000 - Grade: 1.73 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 425 - Metal Eq. Unit: g/t AgEq #### 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 > 1.73 Context: 3.31 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-50) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:2853630a92172fc3389a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 3180000 - Grade: 1.64 - Grade Unit: g/t - Contained Metal: 168 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 342 - Metal Eq. Unit: g/t AgEq #### 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 > 1.64 Context: 3.18 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-51) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:2853630a92172fc3389a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 3180000 - Grade: 137 - Grade Unit: g/t - Contained Metal: 14045 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 342 - Metal Eq. Unit: g/t AgEq #### 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 > 137 Context: 3.18 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-52) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:2853630a92172fc3389a - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 3180000 - Grade: 1.76 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 342 - Metal Eq. Unit: g/t AgEq #### 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 > 1.76 Context: 3.18 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-53) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:aba1052bd87681bd0ffd - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 4120000 - Grade: 2.34 - Grade Unit: g/t - Contained Metal: 309 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 421 - Metal Eq. Unit: g/t AgEq #### 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 > 2.34 Context: 4.12 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-54) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:aba1052bd87681bd0ffd - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 4120000 - Grade: 164 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 421 - Metal Eq. Unit: g/t AgEq #### 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 > 164 Context: 4.12 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-55) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:ff78942eb875697d6edd - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6600000 - Grade: 1.97 - Grade Unit: g/t - Contained Metal: 418 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 383 - Metal Eq. Unit: g/t AgEq #### 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 > 1.97 Context: 6.60 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-56) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:ff78942eb875697d6edd - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6600000 - Grade: 157 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 383 - Metal Eq. Unit: g/t AgEq #### 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 > 157 Context: 6.60 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-57) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:cb6546f8b208066fb3ed - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 280000 - Grade: 1.3 - Grade Unit: g/t - Contained Metal: 12 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 325 - Metal Eq. Unit: g/t AgEq #### 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 > 1.30 Context: 0.28 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-58) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:cb6546f8b208066fb3ed - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 280000 - Grade: 226 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 325 - Metal Eq. Unit: g/t AgEq #### 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 > 226 Context: 0.28 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-59) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:cb6546f8b208066fb3ed - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 280000 - Grade: 0.03 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 325 - Metal Eq. Unit: g/t AgEq #### 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 > 0.03 Context: 0.28 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-60) gold #### Identity - Commodity: gold - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:5c017c6c0f76464216a7 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 390000 - Grade: 1.68 - Grade Unit: g/t - Contained Metal: 21 - Contained Unit: koz #### Metal Equivalent - Metal Eq. Grade: 327 - Metal Eq. Unit: g/t AgEq #### 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 > 1.68 Context: 0.39 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/vizsla-silver-corp-exhibit-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-61) silver #### Identity - Commodity: silver - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:5c017c6c0f76464216a7 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 390000 - Grade: 169 - Grade Unit: g/t #### Metal Equivalent - Metal Eq. Grade: 327 - Metal Eq. Unit: g/t AgEq #### 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 > 169 Context: 0.39 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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-99-2-filed-by-newsfilecorp-com--38757b5e-d32d-43eb-852b-4da431dc9294#fact-resource-facts-62) zinc #### Identity - Commodity: zinc - Ticker: VZLA #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:5c017c6c0f76464216a7 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 390000 - Grade: 0.6 - Grade Unit: % #### Metal Equivalent - Metal Eq. Grade: 327 - Metal Eq. Unit: g/t AgEq #### 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 > 0.60 Context: 0.39 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was 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 ## 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.