Canasil plans exploration at Vizcaino, La Esperanza

Executive Summary

• Canasil Resources outlines an aggressive 2026 exploration program across its gold‑silver‑copper portfolio in British Columbia (Canada) and Durango/Zacatecas (Mexico).
• The company will seek reinstatement to TSX‑V Tier 2, await Amarc’s decision on the Brenda option extension (potential $400k cash payment), and pursue minimally dilutive financing.
• Detailed drill programs are planned for Vizcaino (2,450 m total) and La Esperanza (permit application Q1 2026), with additional exploration at Lil, Salamandra, and other projects.

Key Details

• TSX‑V Reinstatement: Application to move from TSX‑V NEX to Tier 2 targeted for Q1 2026.
• Brenda Option (Amarc): Decision due Feb 4 2026; if extended, Amarc must pay $400,000 cash and the option exercise price rises to $9 million in year 2.
• Lil Project (BC, Canada): Follow‑up high‑grade silver exploration slated for Q3–Q4 2026 summer season.
• Vizcaino Project (Durango, Mexico): Planned 2,450 m diamond drill program (14 holes) to test a high‑grade gold‑silver epithermal vein; Phase 1 – 1,050 m in six holes pending permit approval, expected Q2 2026.
• La Esperanza Project (Durango/Zacatecas, Mexico): Completed 11,500 m of drilling (44 holes) with notable intercepts (e.g., 12.97 m @ 219 g/t Ag, 0.93% Zn, 0.43% Pb; 1.28 m @ 6.39 g/t Au). Drill‑tested envelope spans 525 m strike × 350 m depth; permits to be applied for Q1 2026.
• Salamandra Project (Durango, Mexico): 17,980 m of drilling (35 holes) completed; key intercept SA‑14‑15 – 7.89 m @ 166 g/t Ag, 1.20% Zn, 1.20% Cu, 1.26% Pb (including higher grades over 2.30 m). Technical review and drill permit application planned for Q1 2026.
• Financing Outlook: Company will explore minimally dilutive financing to fund working capital and the outlined exploration programs.

Notable Quotes

(No direct quotes were provided in the release.)