Canasil Resources (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces that the Company, Orex Minerals (TSX-V: REX, OTCQX: ORMNF, “Orex”) and Pan American Silver (TSX: PAAS, NASDAQ: PAAS) through its subsidiary Plata Panamericana (“Pan American”), have signed a non-binding Letter of Intent (“LOI”) for cooperation to advance exploration on the Sandra-Escobar project in Durango, Mexico.
Canasil CEO, Bahman Yamini, commented:
“We are very pleased to have reached agreement with Pan American and Orex providing for significant investments to advance the Sandra-Escobar project. Results to date suggest that the project area hosts a large mineral rich endowment with multiple silver, gold and base metal targets which remain open for exploration. We are looking forward to working together with both our partners to investigate these targets and to unlock future value for our shareholders.”
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