Canasil and Silver Viper Announce Expiry of Non-Binding LOI
Vancouver, February 1, 2023 – Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces that the previously announced non-binding letter of intent dated November 6, 2022, as amended on December 20, 2022 (the “LOI”) with Silver Viper Minerals Corp. (TSX-V: VIPR, OTC: VIPRF) (“Silver Viper”) has expired in accordance with its terms. For more information on the LOI, please see the Company’s news releases dated November 7, 2022 and December 21, 2022.
Canasil and Silver Viper mutually agreed not to proceed with the transactions contemplated by the LOI. Canasil continues to review opportunities that are presented to the Company.
About Canasil
Canasil is a Canadian mineral exploration company with a strong portfolio of 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 industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development.
For further information, please visit the Company website at www.canasil.com or contact:
Bahman Yamini
President and CEO
Canasil Resources Inc.
Tel: (604) 708-3788
Neither the 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 release.
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 regarding opportunities that are presented to the Company. 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 those described in the Company's financial statements 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. Canasil does not assume any obligation to update 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.