exhibit99 1

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# exhibit99 1

Source: https://www.sec.gov/Archives/edgar/data/1796073/000106299324013943/exhibit99-1.htm
Published: 2024-07-18T00:00:00+00:00
Fetched: 2026-05-05T09:42:07.136+00:00
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## Content

# exhibit99 1
EX-99.1
3
exhibit99-1.htm
EXHIBIT 99.1
Vizsla Silver Corp.: Exhibit 99.1 - Filed by newsfilecorp.com
 
 
 
 
ANNUAL INFORMATION FORM For the year ended April 30, 2024
Date: July 18, 2024
 
 
 
 
 
 
 
 
TABLE OF CONTENTS
PRELIMINARY NOTES
1
Date of Information
1
Financial Information
1
Currency and Exchange Rate Information
1
Documents Incorporated by Reference
1
FORWARD-LOOKING INFORMATION
1
CORPORATE STRUCTURE
2
Name, Address and Incorporation
2
Intercorporate Relationships
2
GENERAL DEVELOPMENT OF THE BUSINESS
2
Three Year History
3
Significant Acquisitions
7
DESCRIPTION OF BUSINESS
7
General Description of the Business
7
Business of the Company
7
Specialized Skill and Knowledge
7
Competitive Conditions
7
Cycles
8
Environmental Protection
8
Employees
8
Foreign Operations
8
Bankruptcy and Similar Procedures
8
Reorganizations
9
Social or Environmental Policies
9
Risk Factors
9
Resource Exploration and Development is a Speculative Business
9
Fluctuation of Metal Prices
10
Financing Risks
10
Increased Costs
10
Reclamation
10
Mining Industry is Intensely Competitive
10
Permits and Licenses
11
Government Regulation
11
Environmental Restrictions
11
Global Economy
11
Inflation
11
Public Health Crises
12
Foreign Countries and Political Risk
12
Changes to Mining Laws and Regulation
12
Title Matters
13
Exploration and Mining Risks
13
Regulatory Requirements
14
No Assurance of Profitability
14
Taxation in Multiple Jurisdictions
14
Violence and other Criminal Activities in Mexico
15
Uninsured or Uninsurable Risks
15
Potential Conflicts of Interest
15
Key Executives and Outside Consultants
16
Accounting Policies and Internal Controls
16
Litigation
16
Anti-Corruption and Anti-Bribery Laws
16
Potential Volatility of Market Price of Common Shares and Related Litigation Risks
17
Future Sales of Common Shares by Existing Shareholders
17
Dividend Policy
17
Material Mineral Projects
18
The Panuco-Copala Property
18
DIVIDENDS
28
CAPITAL STRUCTURE
28
Common Shares
28
Warrants
28
Stock Options and Restricted Share Units
28
MARKET FOR SECURITIES
29
Trading Price and Volume
29
PRIOR SALES
30
Warrants
30
Stock Options & Restricted Share Units
30
ESCROWED SECURITIES
31
DIRECTORS AND OFFICERS
31
Name, Occupation and Security Holdings
31
Director Biographies
34
Cease Trade Orders, Bankruptcies, Penalties or Sanctions
36
Conflicts of Interest
37
AUDIT COMMITTEE INFORMATION
37
Audit Committee Mandate
37
Composition of the Audit Committee
37
Relevant Education and Experience
37
Reliance on Certain Exemptions
37
Audit Committee Oversight
37
Pre-Approval Policy and Procedures
38
External Auditor Service Fees
38
LEGAL PROCEEDINGS AND REGULATORY ACTIONS
38
Legal Proceedings
38
Regulatory Actions
38
INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS
39
TRANSFER AGENT AND REGISTRAR
39
MATERIAL CONTRACTS
39
INTERESTS OF EXPERTS
39
ADDITIONAL INFORMATION
39
PRELIMINARY NOTES
Date of Information
Unless otherwise indicated, all information contained in this Annual Information Form (this " AIF ") of Vizsla Silver Corp. (the " Company ") is as of April 30, 2024.
Financial Information
The Company's financial results are prepared and reported in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board and Interpretations of the International Financial Reporting Interpretations Committee.
Currency and Exchange Rate Information
All dollar amounts (i.e. "$"), unless otherwise indicated, are expressed in Canadian.
Documents Incorporated by Reference
The technical report titled "Technical Report on the Updated Mineral Resource Estimate for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State, Mexico" (the " Technical Report ") with an effective date of  September 1, 2023, prepared for the Company by Allan Armitage, Ph. D., P.Geo. of SGS Geological Services (" SGS "), Ben Eggers, MAIG, P.Geo. of SGS and Peter Mehrfert, P.Eng. of Ausenco Engineering Canada ULC (" Ausenco ") is specifically incorporated by reference into this Annual Information Form and may be obtained online at the SEDAR+ website at www.sedarplus.ca .
FORWARD-LOOKING INFORMATION
Certain information, estimates and projections contained herein, and the documents incorporated by reference herein, if any, constitute forward-looking statements regarding the Company, its operations and projects, including, but not limited to, the Panuco-Copala Property (as defined herein). All statements that are not historical facts, involving without limitation, statements regarding future projections, plans and objectives, securing strategic partners and financing requirements and the ability to fund future mine development are forward-looking statements, or forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts",  "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information.  Forward-looking information and statements involve risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such information or statements. Such risk factors and uncertainties include, but are in no way limited to, statements with respect to the effect and estimated timeline of the drilling and assay results of the Company, the estimation of mineral reserves and mineral resources, the timing and amount of estimated future exploration, costs of exploration, capital expenditures, success of exploration activities, permitting time lines and permitting, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, fluctuations in mineral prices, uncertainties and other factors relating to public health crises, volatility in the global financial markets, increased inflation, turbulence in mining markets resulting from risks related to war (including the Russian invasion of Ukraine and the war in the Middle East), macroeconomic risks and other risk factors, as discussed in the Company's filings with Canadian securities regulatory agencies including the documents incorporated by reference herein, including those risk factors described herein under "Risk Factors". Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
1
There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company disclaims any obligation to update any forward-looking statements or information, other than as may be specifically required by applicable securities laws and regulations. Actual results may differ materially from those expressed or implied by such forward-looking statements.
CORPORATE STRUCTURE
Name, Address and Incorporation
The Company was incorporated on September 26, 2017 pursuant to the Business Corporations Act (British Columbia) under the name "Vizsla Capital Corp.". On March 8, 2018, the Company changed its name to "Vizsla Resources Corp.".  On February 5, 2021, the Company change its name to "Vizsla Silver Corp.".
The head office of the Company is located at Suite 1723, 595 Burrard Street, Vancouver, British Columbia V7X 1J1.  The registered and records office of the Company is located at Suite 401, 353 Water Street, Vancouver, British Columbia V6B 1B8.
The Company is a reporting issuer in all provinces and territories of Canada and its common shares (the " Common Shares ") are listed on the TSX Venture Exchange (the " TSXV ") under the trading symbol "VZLA". The Company is classified as a Tier 2 Mining Issuer on the TSXV.  On January 21, 2022, the Common Shares were listed on the NYSE American and commenced trading under the symbol "VZLA".
Intercorporate Relationships
As at April 30, 2024, the Company had two wholly-owned subsidiaries: Vizsla Royalties Corp. and Canam Alpine Ventures Ltd., both of which were incorporated pursuant to the Business Corporations Act (British Columbia).  Canam Alpine Ventures Ltd. has two wholly-owned subsidiaries in Mexico: Minera Canam S.A. DE C.V., Operaciones Canam Alpine S.A. DE C.V. and Vizsla Royalties Corp. has one wholly-owned subsidiary in Canada: Panuco Royalty Corp. incorporated pursuant to the Business Corporations Act (British Columbia) and one wholly-owned subsidiary in Mexico: Canam Royalties Mexico, S.A. DE C.V. 
GENERAL DEVELOPMENT OF THE BUSINESS
The Company was formed to engage in the business of the acquisition, exploration and development of mineral resource properties.  The Company is currently focused on the exploration and development of the Company's 100% owned flagship Panuco-Copala silver-gold project located in Mexico (the " Panuco-Copala Property ").
2
Three Year History
On June 3, 2021, the Company closed a bought deal prospectus offering of 27,600,000 units of the Company at a price of C$2.50 per unit for aggregate gross proceeds of C$69,000,000 (the " 2021 Prospectus Offering ").  Each unit consisted of one Common Share and one-half of one common share purchase warrant.  Each whole warrant   entitles the holder to acquire one Common Share of the Company until December 3, 2022, at a price of C$3.25.
The 2021 Prospectus Offering was conducted by Canaccord Genuity Corp., as lead underwriter and sole bookrunner, PI Financial Corp., Clarus Securities Inc. and Sprott Capital Partners LP (the " 2021 Prospectus Underwriters "). In connection with the 2021 Prospectus Offering, the Company paid the 2021 Prospectus Underwriters a cash commission cash commission equal to 6% of the gross proceeds raised under the 2021 Prospectus Offering, other than in respect of sales of the 2021 Prospectus Offering to the Company's president's list (the " President's List ") for which the Company paid a cash commission equal to 3%. As further consideration for the services provided by the 2021 Prospectus Underwriters in connection with the 2021 Prospectus Offering, on closing the Company issued broker warrants to the 2021 Prospectus Underwriters, exercisable at any time on or before December 3, 2022, to acquire that number of common shares of the Company which is equal to 6% of the number of units sold under the 2021 Prospectus Offering (3% in respect of the President's List) at an exercise price of C$2.50.
On June 21, 2021, the Company closed a non-brokered private placement whereby it issued a total of 1,690,000 units at a price of C$2.50 per unit for gross proceeds of C$4,225,000. Each unit consisted of one common share of the Company and

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