#Mexico #Vizsla Silver #Panuco Project #Sinaloa #FIFOMI

Vizsla Silver Strengthens Financial Position with New Credit Facility

Vizsla Silver Corp., a prominent mineral exploration company based in Vancouver, has taken a significant step towards advancing its Panuco silver-gold project located in Sinaloa, Mexico. The company has secured an unsecured credit facility worth MXN$173 million (approximately USD 10 million) with Minera Canam, a Mexican subsidiary dedicated to the Panuco project. This agreement was finalized with Fideicomiso de Fomento Minero (FIFOMI), a governmental financial institution that specializes in supporting the mining sector.

On May 4, 2026, FIFOMI's internal credit committee approved the funding, which aims to bolster the economic landscape of Sinaloa by enabling Vizsla Silver to expand its operations and enhance local partnerships.

Importance of the Agreement

Michael Konnert, President and CEO of Vizsla Silver, expressed optimism regarding this new financial partnership, highlighting it as a testament to the Panuco project’s potential as a vital development initiative for both the region and Mexico. He emphasized that such financing plays a pivotal role in establishing connections with responsible institutions dedicated to fostering sustainable growth in Mexico's mining industry. This collaboration will help strengthen the mining community of Concordia and support local stakeholders, contributing to the overall economic development of the state.

Key Features of the Facility

The terms of the working capital facility are structured to ensure financial viability and support project growth:

• - Amount: MXN$173 million (about USD 10 million)
• - Type: Unsecured credit agreement
• - Term: Five years
• - Interest Rate: TIIE funding rate plus a margin of 4.6681%
• - Payment Structure: Quarterly interest and principal payments with a grace period of two years on principal repayments
• - Commission Fee: A one-time fee of 1.0% of the total facility
• - Utilization: Funds from this facility will be channelized towards operational and working capital expenditures relevant to the Panuco project.

About FIFOMI

FIFOMI is a significant entity within Mexico's financial system, operating as a public trust under the oversight of the Secretaría de Economía. Its primary objective is to enhance the competitiveness of Mexico's mining sector through accessible financing, technical aid, and specialized training programs. With its supportive role, FIFOMI aims to enable companies like Vizsla Silver to foster the sustainable growth of their mining projects.

Overview of Vizsla Silver and the Panuco Project

Vizsla Silver is committed to becoming a leading force in the silver mining industry by focusing on its flagship Panuco project, which is 100% owned by the company. Following a Feasibility Study completed in November 2025, the Panuco project showcased its potential with an estimated annual production of 17.4 million ounces of silver equivalent over an initial mine life of 9.4 years. The study reported a robust after-tax NPV of USD 1.8 billion, an IRR of 111%, and a payback period of just seven months at prevailing silver and gold prices.

To further its goal, Vizsla Silver is adopting a dual-track development strategy, advancing both mine development and district-scale exploration efficiently.

Looking to the Future

While Vizsla Silver is clearly poised for growth, it remains prudent in its approach towards production. The company has not yet made a final decision regarding the commencement of production, as comprehensive engineering analyses, financing arrangements, and essential permitting are still pending. Management emphasizes the importance of community support, stability in market conditions, and favorable commodity prices as critical elements for the success of the Panuco project.

In summary, the secured financing from FIFOMI is a positive development for Vizsla Silver, reinforcing its commitment to responsible mining practices and contributing significantly to the economic vitality of Sinaloa. The Panuco project remains a focal point of the company's strategy as it continues its journey towards becoming a key player in the silver sector.