Vizsla Silver Corp. completed a purchase of ten mining claims covering 2,378 hectares in the Panuco–San Dimas corridor on December 17 2025, with the transaction announced the following day. The deal adds 1,734 hectares of strategic land that borders the company’s flagship Panuco project, creating a contiguous package that strengthens the project’s resource base and eases future development planning.
The acquisition is a key step in Vizsla’s de‑risking strategy for Panuco. The new claims host historic production and known mineralized structures that could extend existing vein systems, potentially increasing the project’s resource estimates. A feasibility study completed in November 2025 already highlighted robust economics, with an after‑tax NPV of US$1.8 billion and an IRR of 111 %. By expanding the land package, Vizsla positions itself to move toward production in 2027 with a clearer understanding of the resource geometry.
Financially, Vizsla paid US$2 million in cash and issued 854,697 common shares to Fresnillo, subject to a four‑month hold period under Canadian securities law. The transaction was executed without adding debt, preserving the company’s strong liquidity profile—its current ratio stands at 33.44 and it has secured up to US$220 million in project financing from Macquarie Bank. The cash outlay is modest relative to the scale of the land package and the potential upside in resource expansion.
The deal complements recent financing milestones, including a US$100 million bought‑deal offering in June 2025 and the Macquarie Bank mandate. Together, these moves demonstrate management’s confidence in the project’s economics and its ability to secure capital for future development phases. The acquisition also signals to investors that Vizsla is actively consolidating its land position to reduce regulatory and operational risks associated with fragmented claim ownership.
With the expanded land package and a proven feasibility study, Vizsla’s path to a 2027 production start is clearer. The company’s focus on de‑risking the Panuco project, coupled with its strong financial footing, positions it to capitalize on the high‑grade silver resource and to deliver on its long‑term growth objectives.
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