Vizsla Silver Corp. (NYSE: VZLA) announced that its Mexican subsidiary Minera Canam has entered into a MXN$173 million working capital facility with FIFOMI, a Mexican government-backed financial institution.

The unsecured credit agreement, dated February 26, 2026, provides approximately $10 million in working capital for the company's Panuco silver-gold project in Sinaloa, Mexico. FIFOMI's internal credit committee approved the facility on May 4, 2026.

The five-year facility carries an interest rate based on the TIIE funding rate plus a 4.6681% margin. The agreement includes quarterly interest and principal payments with a two-year grace period on principal repayments and a one-time commission fee of 1.0% of the total facility amount.

"This agreement with FIFOMI represents another important step in the continued endorsement and validation of the Panuco Project as an economically important development project for both Sinaloa and Mexico," said Michael Konnert, President and CEO of Vizsla Silver.

FIFOMI operates as a public trust within the Mexican financial system under oversight of Mexico's Secretaría de Economía. The institution provides financing, technical assistance and training programs to promote the development of Mexico's domestic mining industry.

Vizsla Silver completed a feasibility study for Panuco in November 2025, which projected 17.4 million ounces of silver equivalent annual production over a 9.4-year mine life. The study indicated an after-tax net present value of $1.8 billion and an internal rate of return of 111%.

The facility proceeds will support operating and working capital expenditures related to the Panuco project development.