Canasil Grants Option to Amarc to Acquire Canasil’s Brenda Gold-Copper-Silver Property In the Toodoggone-Kemess Porphyry Copper-Gold Region In British Columbia, Canada
Tel: 604-708 3788
Email: [email protected]
NEWS RELEASE
February 11, 2025 www.canasil.com
Canasil Grants Option to Amarc to Acquire Canasil’s Brenda Gold-Copper-Silver Property
In the Toodoggone-Kemess Porphyry Copper-Gold Region In British Columbia, Canada
Vancouver, Feb. 11, 2025 - Canasil Resources Inc. (“Canasil” or the “Company”) is pleased to announce it
has signed a mineral property option agreement with Amarc Resources Ltd. (“Amarc”) pursuant to which
Amarc can acquire 100% interest in Canasil’s Brenda gold-copper-silver property comprising 22 mineral claims
in the Toodoggone-Kemess porphyry copper-gold region that are located adjacent to Amarc’s JOY tenure and
immediately to the east of Amarc’s AuRORA gold-copper-silver (“Cu-Au-Ag”) discovery.
The terms of the 5-year option providing for Amarc to acquire 100% of the Brenda Property require annual
payments of $400,000 to Canasil to maintain the option, with the exercise price of the option to purchase
starting at $8 million, if exercised in the first year, and increasing on an annual basis to $12 million in year
five. The annual cash payments are not credited towards the option exercise price. Canasil will retain a 2%
net smelter returns royalty of which 1% (or one-half) can be acquired for $5 million before commencement
of commercial mining operations and $10 million after commencement of mining. Amarc will also be
responsible for undertaking exploration expenditures to advance the mineral claims by at least one year
during each year of the option. The Brenda property claims fall largely within the area of common interest
under the Amarc Freeport-McMoran Mineral Properties Canada Inc. (“Freeport”) agreement of 2021 (see
Amarc May 18, 2021 release) and so will be offered to be made part of the JOY District as defined by that
agreement.
Canasil President and CEO Bahman Yamini commented: “We are pleased to enter into this option agreement
with Amarc, which requires a significant cash exercise price and retained NSR if exercised, and will provide
funding to maintain the Company’s operations and the Brenda property claims through the annual option
payments and expenditure requirements. Amarc is a highly recognized and successful operator in the region,
backed by major mining companies, and we look forward to working with them to advance the Brenda
project.”
Amarc AuRORA Discovery
In January 2025, Amarc announced drill results from its new, high grade, gold-rich porphyry Cu-Au-Ag AuRORA
discovery at Amarc’s 100% owned JOY Copper-Gold District (or “JOY” or the “District”) in the prolific
Toodoggone-Kemess porphyry Cu-Au region of north-central British Columbia (“BC”) . AuRORA is located
within the new NWG Target, a portion of the 495 km 2 JOY District that had not previously been drill tested.
The AuRORA discovery is characterized by high Au grades with strong Cu and Ag values and excellent lateral
and vertical continuity, extending from near surface (see Amarc releases dated January 17 and 20, 2025).
Freeport is fully funding work programs at JOY to earn an interest in the project, and Amarc is the operator
of all programs.
Canasil Brenda Property
Canasil’s 44.5 km2 Brenda Property optioned to Amarc is surrounded on three sides by Amarc’s JOY mineral
tenures (Figure 1). The Brenda Property is underlain by the same highly prospective volcanics and transitional
porphyry Cu-Au and epithermal Au-Ag geological setting as at Amarc’s recent AuRORA and Canyon porphyry
Cu-Au discoveries. Canasil’s historical exploration of the Brenda Property has identified both epithermal and
porphyry related rock alteration assemblages hosting copper, gold and silver mineralization, and includes an
intersection of 78 m grading 0.61 g/t Au and 0.10% Cu from 110 m in hole BR-07-05, which was collared
adjacent to a large gossan (see Canasil 43-101 National Instrument 43-101 Technical Report at
https://www.canasil.com/projects/bc-canada-properties/brenda/).
Canasil Resources Inc.
News Release, Feb. 11, 2025 page 2/2
The technical information herein has been reviewed and approved by Alvin Jackson, 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
Figure 1: Canasil Brenda Property and Amarc’s JOY Mineral Tenures Location
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 those 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, exploration 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.