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Highlights
- Canasil has applied for approval to grant 2.5 million incentive stock options to officers and geological consultants.
- Proposed options carry a $0.06 exercise price with a five-year term and phased vesting for consultants.
- TSX Venture Exchange reinstated the company to Tier 2 trading effective February 9, 2026.
- AuRORA JV made a $400,000 payment, extending the Brenda property option into its second year.
Canasil Resources Inc. (TSX-V:CLZ) (DB Frankfurt: 3CC) has entered February with a cluster of corporate developments spanning stock option structure, its exchange status, and the progression of its Brenda gold-copper-silver project in British Columbia.
Recently, the company announced that it has applied to the TSX Venture Exchange for approval to grant a total of 2,500,000 incentive stock options to officers and geological consultants. The options would be issued at an exercise price of $0.06 and will remain valid for five years. Options granted to consultants will vest over two years, while those issued to officers replace previously exercised options.
If approved, the total number of outstanding options will reach 7,150,000, representing 46.6% of the 15,381,428 options available for grant under the Company’s stock option plan.
Tier 2 Listing Confirmed
In early February 2026, the TSX Venture Exchange confirmed that the company has met the requirements for a Tier 2 classification. Effective February 9, 2026, Canasil’s listing transferred from NEX to the TSX Venture Exchange, its tier status changed to Tier 2, and its filing and service office moved to Vancouver. (Read here to know more).
Brenda Option Payment Received
The company also received a $400,000 first-anniversary option payment from AuRORA Minerals Ltd., jointly owned by Freeport-McMoRan Mineral Properties Canada Inc. and Amarc Resources Ltd. The payment extends the option on the Brenda gold-copper-silver project in north-central British Columbia for a second year and increases the exercise price from $8 million to $9 million under the February 4, 2025, agreement.
Project Portfolio
Canasil holds a portfolio of 100% owned silver, gold, copper, zinc and lead exploration projects in Durango and Zacatecas, Mexico, and in British Columbia, Canada, targeting mineralized systems along recognized mineral trends with access to infrastructure and proximity to operating mines.
Shares of Canasil last traded at CAD 0.065, up around 8% on February 13, 2026.
