Vizsla Copper Successfully Finalizes Acquisition of Universal Copper

Vizsla Copper Corp. (TSX-V: VCU) ("Vizsla Copper") and Universal Copper Ltd. (TSX-V: UNV) ("Universal Copper") are delighted to announce the successful conclusion of the plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"), as previously disclosed on February 14, 2024. In accordance with the terms of the Arrangement, among other stipulations: (i) Vizsla Copper has obtained full ownership of all issued and outstanding common shares in Universal Copper's capital (referred to as the "UNV Shares"), by issuing 0.23 common shares in Vizsla Copper's capital (each representing a "Vizsla Copper Share") to Universal Copper shareholders ("Shareholders") in exchange for each UNV Share (known as the "Exchange Ratio"); (ii) Universal Copper's existing stock options ("Options") have been replaced with options in Vizsla Copper; and (iii) Universal Copper's existing warrants are now exercisable to acquire Vizsla Copper Shares, with adjustments made to the quantities and exercise prices in line with the Exchange Ratio.

The final order approving the Arrangement was issued by the Supreme Court of British Columbia on April 16, 2024. Universal Copper's securityholders granted the necessary approval for the Arrangement during a special meeting held on April 10, 2024.

Craig Parry, Executive Chairman of Vizsla Copper, commented: "The completion of this transaction comes at an opportune moment, given the current structural undersupply in the copper market. Demand is on the rise, fueled by the necessity for new infrastructure to support electric vehicles, artificial intelligence, and cloud storage, while production reductions, rather than anticipated increases, have been observed on the supply side. As a result, certain analysts forecast that the copper price will surpass US$6 per pound in the near future. There has never been a more advantageous time to acquire and develop copper projects within a mining-friendly jurisdiction like British Columbia."

We warmly welcome the shareholders of Universal Copper as they become part of Vizsla Copper, and we are excited about the prospect of creating value for all stakeholders. I would like to express gratitude to both the Vizsla Copper and Universal Copper teams for their dedicated efforts in swiftly completing this transaction. With the addition of Universal Copper, Vizsla Copper now holds two significant copper resource bases at the Woodjam and Poplar projects. Our team at Vizsla Copper is enthusiastic about commencing work on the promising Poplar project, which features a large, near-surface porphyry-related Cu-Au deposit. We are committed to unlocking further value at both the Poplar and Woodjam projects."

Clive Massey, President and CEO of Universal Copper, expressed: "We are delighted to announce the successful conclusion of this transformative arrangement with Vizsla Copper, marking a significant milestone that not only increases value for our shareholders but also reinforces our market presence. This merger represents a strategic alignment of our assets and visions, aimed at expediting growth and leveraging our synergies. The strong backing from our shareholders underscores their belief in the potential of this unified entity to drive leadership and innovation in the copper industry."