Vizsla Silver to acquire ten claims from Fresnillo for $2M, 854,697 shares

Vizsla Silver (VZLA) announced that it has entered into an agreement to acquire from Minera Fresnillo, a subsidiary of Fresnillo, ten claims comprising 2,378 Ha along the highly prospective Panuco – San Dimas corridor. Seven of these claims comprising 1,734 Ha are strategic and occur adjacent to the Panuco project, covering prospective areas or potential extensions to veins with known mineralization. The company entered into an asset purchase agreement with Fresnillo and the company’s wholly owned subsidiary, Minera Canam, pursuant to which the company agreed to acquire, through Minera Canam, all of Fresnillo’s right, title and interest in and to the claims. Pursuant to the acquisition agreement, the company has agreed to pay $2M and issue 854,697 common shares in the capital of the company to Fresnillo. The consideration shares are subject to a four-month hold period pursuant to applicable Canadian securities laws.