Canasil Announces Amended Letter of Intent with Silver Viper
Suite 1760 – 750 West Pender Street
Vancouver, BC V6C 2T8
Canada
Tel: 604-708 3788
Fax: 604-708 3728
Email: [email protected]
NEWS RELEASE TSX-V: CLZ
December 21, 2022 www.canasil.com
Canasil Announces Amended Letter of Intent with Silver Viper
Vancouver, December 21, 2022 - Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the
“Company”) announces the execution of an Amending Agreement to the non-binding Letter of Intent dated
November 6, 2022 (the “LOI”) with Silver Viper Minerals Corp. (SXV: VIPR, OTC: VIPRF) (“Silver Viper”). The
LOI sets out certain terms and conditions with respect to the proposed business combination with Silver
Viper (the “ Proposed Transaction ”). The Company and Silver Viper are continuing to work toward
completion of definitive agreements in respect of the Proposed Transaction. Pursuant to the Amending
Agreement, the deadline for execution of a definitive agreement has been extended to January 31, 2023.
Additional details regarding the LOI and the Prop osed Transaction are provided in the Company’s press
release dated November 7, 2022, which is available on the Company’s SEDAR profile at www.sedar.com.
About Canasil
Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver -gold-
copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia,
Canada. The Company's directors and management include indu stry professionals with a track record of
identifying and advancing successful mineral exploration projects through to discovery and further
development. The Company is actively engaged in the exploration of its mineral properties, and maintains
an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in
Mexico.
For further information please contact:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Canasil Resources Inc.
News Release, Dec. 21, 2022 page 2/2
Forward Looking Statements
This news release includes certain “forward -looking information” and “forward -looking statements” (collectively
forward-looking statements”) within the meaning of applicable Canadian securities legislation, including: statements
regarding the terms of the Proposed Transaction; the negotiation and execution of a Definitive Agreement, including
the terms and timing thereof; the completion of Silver Viper’s financing; and receipt of approvals in connection with
the Proposed Transaction. All statements in this news release that address events or developments that we expect to
occur in the future are forward-looking statements. All such forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made.
Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond
Canasil’s control, including: risks and uncertainties relating to the Proposed Transaction not closing when planned or
at all or on terms and conditions set forth in the LOI; the failure to obtain necessary shareholder, court, regulatory and
third party approvals in order to proceed with the Proposed Transaction; and other risks and uncertainties, including
those described in the Company's financial st atements and management discussion and analysis (“ MD&A”) available
on www.sedar.com. The list is not exhaustive of the factors that may affect Canasil’s forward -looking statements.
Canasil’s forward -looking statements are based on the applicable assumptions and factors management considers
reasonable as of the date hereof, based on the information available to management at such time. These assumptions
and factors include, but are not lim ited to, assumptions and factors related to the time required to negotiate the
Definitive Agreement and complete matters relating to the Proposed Transaction, including the additional financing of
Silver Viper; the ability of the parties to receive, in a t imely manner, the necessary shareholder, regulatory, court,
corporate and other third party approvals; and the ability of the parties to satisfy, in a timely manner, the other
conditions to the closing of the Proposed Transaction
Canasil’s forward-looking statements are based on the opinions and estimates of management and reflect their current
expectations regarding future events and operating performance and speak only as of the date hereof. Canasil does
not assume any obligation to updat e forward -looking statements if circumstances or management's beliefs,
expectations or opinions should change other than as required by applicable law. There can be no assurance that
forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ
materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be
given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what
benefits or liabilities Canasil will derive therefrom. For the reasons set forth above, undue reliance should not be placed
on forward-looking statements.