Canasil Applies for Drill Permit for the Vizcaino Gold-Silver Project in Durango State, Mexico
Tel: 604-708 3788
Email: [email protected]
NEWS RELEASE
February 18, 2026 www.canasil.com
Canasil Applies for Drill Permit for the Vizcaino Gold-Silver Project in Durango State, Mexico
Vancouver, February 18, 202 6 - Canasil Resources Inc. (TSX-V:CLZ, DB Frankfurt: 3CC , “Canasil” or the
“Company”) is pleased to announce that the drill permit application for the Vizc aino Gold-Silver Project in
Durango State, Mexico, is in progress. The drill program is fully funded and ready to proceed as soon as the
drill permit is obtained. The Company expects to receive the drill permit by the end of Q1 2026 or early in Q2
2026 and to begin the Phase 1 drill program of 1,050 metres in 6 HQ core drill holes in Q2 2026. Following
evaluation of the results from the Phase 1 program, the Company has planned a Phase 2 drill program of
1,450 metres in 8 HQ core drill holes. Quotes from drill contractors have already been received and are being
evaluated to award the drill contract. The drill permit will also include provisions for follow -on drilling with
step outs along strike and to depth so that it encompasses provisions for further drill programs at the Vizcaino
project.
Vizcaino gold -silver project , Durango, Mexico – The project hosts a potentially high -grade gold -silver
epithermal vein, traced over a strike distance of 3 kilometres with outcrop widths of 1 metre to 12 metres .
The Vizcaino project is located 127 kilometres north of the city of Durango in a highly prospective region
surrounded by producing gold-silver mines and deposits, such as the Heliostar Metals (ex Argonaut Gold) San
Agustin and El Castillo Mining Complex. See Fig. 1 Canasil Mexico Silver-Gold Projects. The Vizcaino project
has never been drill tested before. The region is known for hosting significant gold-silver mines and deposits
and lies centrally on the major recognized NW-SE silver trend running through Durango and Zacatecas States.
Furthermore, it is also located on a W-E gold trend running through Durango State from Sinaloa State to the
west to Northern Zacatecas State to the east. As such it sits on the crosshairs of two major gold-silver trends,
which forms a strategic location.
The initial Phase 1 and Phase 2 drill programs include a total of 14 HQ core drill holes for 2,450 metres, located
on seven sections designed to intercept and test the epithermal vein at vertical depths of 150 metres and 200
metres. The outcrops show classic banded epithermal textures typical of the higher levels of epithermal vein
systems. See Fig. 2 Canasil Vizcaino Gold-Silver Project Surface Outcrop Epithermal Vein Textures. Vein outcrop
samples returned anomalous gold values between 32 ppb and 141 ppb in 20 samples taken at the higher
elevations (2,300 m to 2,350 m) to the SE over a strike distance of 1,000 m. At the NW end, at a lower elevation
(2,250 m), gold values increased to between 161 ppb to 667 ppb in 9 samples over a strike distance of 400 m.
This suggests that the surface expression is at the top of the system and the system is entirely intact with no
erosion and grades are increasing with depth . The extensive strike and strong surface outcrop widths are
encouraging signs for the discovery of a large fully intact epithermal vein system. Fig. 3 show the plan view of
the vein and proposed drill program . The Company looks forward to the completion of the permit process
and start of the drill program.
The technical information herein has been reviewed and approved by Gary Nordin, PGeo, a Qualified Person
as defined by National Instrument 43-101 and a Director of Canasil.
For further information please contact:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 708-3788
www.canasil.com
Canasil Resources Inc.
News Release, February 18, 2026 page 2/3
Figure 1: Canasil Mexico Silver-Gold Projects in Durango and Zacatecas States, Mexico
Figure 2: Canasil Vizcaino Gold-Silver Project Surface Outcrop Epithermal Vein Textures
Canasil Resources Inc.
News Release, February 18, 2026 page 3/3
Figure 3: Canasil Vizcaino Gold-Silver Project Phase 1 and 2 Drill Plan
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.
This news release includes certain statements that may be deemed to be “forward -looking statements”. All statements
in this release, other than statements of historical facts are forward looking statements, including statements that
address future mineral production, reserve potential, exploration drilling, exploitation activities and events or
developments. These statements involve known and unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from tho se anticipated in such forward-looking statements. Although the Company
believes the expectations expressed in such forward -looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments may differ materially from
those in the forward -looking statements. Factors that could cause actual results to differ materially from those in
forward-looking statements include, but are not limited to, changes in commodities prices, explor ation successes,
continued availability of capital and financing, and general economic, market or business conditions. The reader is
referred to the Company’s filings with the Canadian securities regulators for disclosure regarding these and other risk
factors. There is no certainty that any forward looking statement will come to pass and investors should not place undue
reliance upon forward-looking statements.