Canasil Reviews Plans to Advance its Gold-Silver-Copper Project Portfolio in 2026
Tel: 604-708 3788
Email: [email protected]
NEWS RELEASE
January 12, 2026 www.canasil.com
Canasil Reviews Plans to Advance its Gold-Silver-Copper Project Portfolio in 2026
Vancouver, January 12, 202 6 - Canasil Resources Inc. (TSX-V:CLZ.H, DB Frankfurt: 3CC , “Canasil” or the
“Company”) is pleased to provide an overview of its plans for 2026, looking forward to opportunities to
advance its Gold-Silver-Copper project portfolio in British Columbia, Canada, and in Durango and Zacatecas
States, Mexico.
2026 Plans:
• Re-instatement to TSX-V Tier 2 – Canasil will actively pursue the application to achieve reinstatement
to TSX-V Tier 2 from TSX-V NEX as soon as possible, expected within Q1 2026.
• Amarc Brenda option agreement, BC, Canada – Canasil will wait for Amarc’s decision with regards to
extension of the Brenda property option agreement on the first anniversary date of February 04,
2026. If extended Amarc is required to make a cash payment of $400,000 and the option exercise
price will increase to $9 million during year 2 of the agreement.
• Lil high-grade silver project, BC, Canada – Canasil will be preparing follow up exploration programs
to investigate and advance the Lil project, in particular focused on the very high-grade silver showings
previously sampled in Lil Creek, during the summer exploration season in Q3 and Q4, 2026.
• Vizcaino gold-silver project, Durango, Mexico – Canasil has prepared detailed drill plans for a 2,450
metre diamond drill program in 14 drill holes to test the potentially high-grade gold-silver epithermal
vein located on the Vizcaino project, 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. Canasil will be
proceeding to apply for the required drill permits covering this program without delay and plans to
start with a Phase 1 programme of 1,050 metres in 6 diamond drill holes as soon as the drill permits
are in place, expected in Q2 2026.
• La Esperanza silver -gold-base metal project, Durango and Zacatecas, Mexico – The La Esperanza
project is ideally located in the heart of the Durango-Zacatecas silver belt, 100 km south-southeast of
the city of Durango, close to major producing silver mines and deposits such as Pan American Silver’s
flagship La Colorada mine and Fresnillo PLC’s Fresnillo mine . Canasil has completed past diamond
drilling of 11,500 metres in 44 drill holes on the main La Esperanza vein and identified consistent high-
grade gold-silver-lead-zinc mineralization over significant widths, e.g. ES-17-19 with 12.97 m (True
width ‘TW’ 11.23 m) of 219 g/t silver (Ag), 0.93% Zinc (Zn) and 0.43% lead (Pb), including 1.28 m (TW
1.11 m) of 6.39 g/t gold (Au), 1,281 g/t Ag, 2.23% Zn and 1.25% Pb. The curr ently drill tested
mineralized envelope extends over a strike length of 525 metres and to a depth of 350 metres from
surface and is open in all directions and to depth . Airborne geophysics, including ZTEM and satellite
surveys indicate extension of the La Esperanza vein system over a potential strike distance of 5
kilometres. Canasil is preparing detailed exploration plans, including diamond drilling , to test the La
Esperanza vein system and will be applying for the drill permits without delay in Q1 2026. T he La
Esperanza project covers a large area with multiple silver -gold-base metal epithermal vein
occurrences, similar to that seen at other recent discoveries of large mineralized systems in and
around Durango State, Mexico.
Canasil Resources Inc.
News Release, January 12, 2026 page 2/3
• Salamandra silver-copper-zinc project. Durango, Mexico – the project has an excellent location, only
35 kilometres from the Durango city centre, on trend with and with similar geology to major silver -
copper-zinc deposits and past producing mines such as Discovery Silver’s Cordero deposit and the San
Martin-Sabinas past producing mine complex. The project has undergone systematic comprehensive
exploration programmes including airborne and ground geophysics, extensive surface sampling and
geological mapping and drilling with 17,980 metres of diamond drilling completed in 35 drill holes.
Excellent drill results include SA-14-15 returning 7.89 m of 166 g/t Ag, 1.20% Zn, 1.20% copper (Cu),
and 1.26% Pb, including 2.30 m of 393 g/t Ag, 2.80% Zn, 3.60% Cu, and 0.40% Pb. T he Salamandra
project has the potential for hosting a major silver -copper-zinc mineralized system similar to major
recent discoveries in Mexico such as Discovery Silver’s Cordero deposit and Southern Silver’s Cerro
Las Minitas deposit. Canasil is completing a comprehensive technical review and exploration plans
and will be applying for drill permits for Salamandra in Q1 2026.
Summary:
Canasil anticipates a very active 2026 to take advantage of the current positive market environment for the
mining and mineral exploration sector with high gold, silver, and copper prices. The Company looks forward
to Amarc’s decision in early February 2026 with respect to the extension of the Brenda option agreement and
the payment of the $400,000 option payment. The Company will also be actively exploring opportunities for
minimally dilutive financing options to strengthen its working capital and fund the p lanned exploration
programmes and its operations.
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
Figure 1: Canasil Mexico Silver-Gold Projects in Durango and Zacatecas States, Mexico
Canasil Resources Inc.
News Release, January 12, 2026 page 3/3
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, 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.