Canasil Completes 2023 and 2024 Audited Financial Statements and Files Annual Reports
Vancouver, May 28, 2025 - Canasil Resources Inc. (“Canasil” or the “Company”) is pleased to announce that the Company has completed the 2023 and 2024 Audited Financial Statements and Management Discussion and Analysis and has filed its 2023 and 2024 Annual Reports on SEDAR+ on 28 May, 2025. This brings the Company’s required financial filings up to date. The Q1 2025 Quarterly Report, due by the end of May 2025, will be delayed by 7 – 10 days and the Company anticipates filing its Q1 2025 Quarterly Report by June 16, 2025, latest. At that time the Company will be in full compliance with its regulatory filings.
The Company has initiated the steps required towards revocation of the Cease Trade Order (CTO) in order to return to normal trading. This is a very positive development towards resumption of normal operations, and the Company is actively reviewing its mineral property portfolio for opportunities to advance them.
The Company would like to thank everyone involved in completing and filing the audited financial reports in a relatively short time given the constraints and high workloads imposed by the requirements for financial reporting during the first half of the year.
The Company is currently subject to a Cease Trade Order (CTO) issued on December 6, 2023, for failure to file the Q3 2023 financial reports, and its shares are suspended from trading on the TSX Venture Exchange. The Company has now completed the audits and filed the required financial reports in order to apply for revocation of the CTO and re-instatement for trading.
About Canasil:
Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper exploration projects in Mexico and 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 contact:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 708-3788
www.canasil.com
Canasil Resources Inc.
News Release, May 28, 2025
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.