Vizsla Silver is Pushing Ahead with the Development of the Panuco Silver Project

Key Concepts

• EPCM (Engineering, Procurement, and Construction Management): A project delivery method where a contractor provides professional services for the design, procurement, and construction of a project.
• Panuco Project: Visla Silver’s flagship silver mining project.
• MIA Permit (Manifestación de Impacto Ambiental): An environmental impact assessment permit required for mining operations in Mexico.
• Infill Drilling: A drilling technique used to increase the density of data points within a known mineral deposit to improve resource confidence.
• Pre-production Development: The phase involving capital expenditure and infrastructure setup before commercial mining operations begin.

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Project Development and Strategic Partnerships

Visla Silver has officially initiated the next phase of its flagship Panuco project by securing two major contracts aimed at transitioning the site into an active mine. The company has appointed M3 Engineering and Technology Corp. to handle the Engineering, Procurement, and Construction Management (EPCM) and Mining Plus to oversee comprehensive mine planning.

• M3 Engineering and Technology Corp.: Selected for their extensive experience in Mexico, having previously worked on significant projects such as Mercedes, Los Gatos, Penoskito, Camino Rojo, and Terrona. Their scope covers the processing plant and surface infrastructure, with a project value estimated at $170 million.
• Mining Plus: Tasked with mine planning, scheduling, and geotechnical work. Their involvement builds upon their previous contributions to the development of the Morgan test mine at the Panuco site.

Financial and Operational Scope

The development plan outlines specific capital requirements and timelines for the pre-production phase:

• Development Capital: Approximately $50 million allocated for infrastructure and development.
• Ore Development Costs: Estimated at $40 million over the next two years.
• Collaborative Workflow: The company and its partners are currently focusing on offsite detailed planning, construction logistics, and equipment procurement, while simultaneously finalizing long-term safety protocols.

Mining Schedule and Milestones

The project roadmap is structured around several critical milestones to ensure a smooth transition to production:

1. Mining Contract Award: Scheduled for the second quarter of 2026.
2. Operational Commencement: Mining operations are set to begin immediately upon the receipt of the MIA permit.
3. Infill Drilling Program: A two-year program designed to support the ramp-up phase and facilitate the stockpiling of ore prior to the commissioning of the processing plant.

Strategic Outlook

Visla Silver is positioning the Panuco project as one of the most significant silver mine developments in recent years. By leveraging the expertise of M3 Engineering and Mining Plus, the company aims to accelerate the project's timeline. The integration of the Morgan test mine data and the systematic approach to infill drilling suggests a focus on de-risking the project before full-scale commissioning.

Disclaimer and Disclosure

The information provided is part of a company update for Visla Silver. It is noted that the stock discussed is included in the SSC (Mining Special Situation Certificate). The presenters and associated entities may hold positions in the company, and viewers are advised to consult the official disclaimer provided in the original broadcast.

Conclusion

Visla Silver is aggressively advancing the Panuco project through strategic partnerships and a clearly defined capital expenditure plan. With $210 million in combined infrastructure and development costs identified for the pre-production phase and a structured timeline leading into 2026, the company is moving toward its goal of establishing a major silver mining operation. The focus remains on technical precision, regulatory compliance (MIA permit), and resource verification through infill drilling.