VANCOUVER, May 22, 2020 /CNW/ - Canasil Resources Inc.
(TSX-V: CLZ, DB Frankfurt: 3CC, "Canasil" or the "Company")
announces that in accordance with the Company's Stock Option Plan
the Company has granted 1,750,000 incentive stock options to
Directors, Officers, Consultants and Employees. The options are
exercisable at a price of $0.08 and
valid for five years from the date of grant. The options are being
granted as part of the Company's annual review of outstanding stock
options under its Stock Option Plan; the Company has not granted
any options since January 2017.
The Company is also pleased to announce that Dr. David Terry has agreed to act as an Advisor to
the Company's Board of Directors. He will focus on advising the
Board with respect to strategies to advance and generate
shareholder value from the Company's portfolio of silver, gold,
copper, zinc, lead exploration projects in Durango and Zacatecas
States, Mexico, and in
British Columbia, Canada.
Dr. Terry is a professional economic geologist, senior executive
and corporate director with over 30 years of international
experience in the mineral resources sector. He has played key roles
in the successful discovery/acquisition, exploration and
development of a number of precious and base metal deposits,
primarily in North and South
America, and has expertise in advanced project evaluation,
M&A, corporate finance, and design and execution of effective
In the course of his career, Dr. Terry has held executive
positions and directorships with a number of publicly-listed and
private mineral resource companies. He currently serves as CEO,
President and Director of Genesis Metals Corp., and as a director
of Great Bear Resources Ltd., Golden Arrow Resources Corporation,
Aftermath Silver Ltd., and Blue sky Uranium Corp. He has also
worked with a number of senior mining companies including Boliden
Limited, Westmin Resources Limited, Hemlo Gold Mines Inc., Cominco
Limited and Gold Fields Mining Corporation. Dr. Terry holds a B.Sc.
and Ph.D. in geology from Western
University in Ontario and
is a member of the Association of Professional Engineers and
Geoscientists of British
Bahman Yamini, President and CEO
of Canasil, commented; "On behalf of the Board, I would like to
welcome David Terry as an advisor.
We look forward to his collaboration and input; he has extensive
experience in Mexico and in
Canada, and is well positioned to
contribute effectively to advancing our projects."
Canasil is a Canadian mineral exploration company with a strong
portfolio of 100% owned 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.
The Company is actively engaged in the exploration of its mineral
properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and
support staff for its operations in Mexico.
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 does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale
of any of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including any of the
securities in the United States of
America. The securities have not been and will not be
registered under the United States Securities Act of 1933 (the
"1933 Act") or any state securities laws and may not be offered or
sold within the United States or
to, or for account or benefit of, U.S. Persons
(as defined in Regulation S under the 1933
Act) unless registered under the 1933 Act and applicable state
securities laws, or an exemption from such registration
requirements is available.
SOURCE Canasil Resources Inc.