File: '\\swfile\EmailIn\20260218 061323 Attachment 260218 NR Canasil Vizcaino Drill Permit & Plans Final.docx'

Tel: 604-708 3788

Email: admin@canasil.com

NEWS RELEASE

February 18, 2026 www.canasil.com

Canasil Applies for Drill Permit for the Vizcaino Gold-Silver Project in Durango State, Mexico

Vancouver, February 18, 2026 - Canasil Resources Inc. (TSX-V:CLZ, DB Frankfurt: 3CC, "Canasil" or the "Company") is pleased to announce that the drill permit application for the Vizcaino Gold-Silver Project in Durango State, Mexico, is in progress. The drill program is fully funded and ready to proceed as soon as the drill permit is obtained. The Company expects to receive the drill permit by the end of Q1 2026 or early in Q2 2026 and to begin the Phase 1 drill program of 1,050 metres in 6 HQ core drill holes in Q2 2026. Following evaluation of the results from the Phase 1 program, the Company has planned a Phase 2 drill program of 1,450 metres in 8 HQ core drill holes. Quotes from drill contractors have already been received and are being evaluated to award the drill contract. The drill permit will also include provisions for follow-on drilling with step outs along strike and to depth so that it encompasses provisions for further drill programs at the Vizcaino project.

Vizcaino gold-silver project, Durango, Mexico - The project hosts a potentially high-grade gold-silver epithermal vein, traced over a strike distance of 3 kilometres with outcrop widths of 1 metre to 12 metres. The Vizcaino project is located 127 kilometres north of the city of Durango in a highly prospective region surrounded by producing gold-silver mines and deposits, such as the Heliostar Metals (ex Argonaut Gold) San Agustin and El Castillo Mining Complex. See Fig. 1 Canasil Mexico Silver-Gold Projects. The Vizcaino project has never been drill tested before. The region is known for hosting significant gold-silver mines and deposits and lies centrally on the major recognized NW-SE silver trend running through Durango and Zacatecas States. Furthermore, it is also located on a W-E gold trend running through Durango State from Sinaloa State to the west to Northern Zacatecas State to the east. As such it sits on the crosshairs of two major gold-silver trends, which forms a strategic location.

The initial Phase 1 and Phase 2 drill programs include a total of 14 HQ core drill holes for 2,450 metres, located on seven sections designed to intercept and test the epithermal vein at vertical depths of 150 metres and 200 metres. The outcrops show classic banded epithermal textures typical of the higher levels of epithermal vein systems. See Fig. 2 Canasil Vizcaino Gold-Silver Project Surface Outcrop Epithermal Vein Textures. Vein outcrop samples returned anomalous gold values between 32 ppb and 141 ppb in 20 samples taken at the higher elevations (2,300 m to 2,350 m) to the SE over a strike distance of 1,000 m. At the NW end, at a lower elevation (2,250 m), gold values increased to between 161 ppb to 667 ppb in 9 samples over a strike distance of 400 m. This suggests that the surface expression is at the top of the system and the system is entirely intact with no erosion and grades are increasing with depth. The extensive strike and strong surface outcrop widths are encouraging signs for the discovery of a large fully intact epithermal vein system. Fig. 3 show the plan view of the vein and proposed drill program. The Company looks forward to the completion of the permit process and start of the drill program.

The technical information herein has been reviewed and approved by Gary Nordin, PGeo, a Qualified Person as defined by National Instrument 43-101 and a Director of Canasil.

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, February 18, 2026 page 2/3

Figure 1: Canasil Mexico Silver-Gold Projects in Durango and Zacatecas States, Mexico

Figure 2: Canasil Vizcaino Gold-Silver Project Surface Outcrop Epithermal Vein Textures

Canasil Resources Inc.

News Release, February 18, 2026 page 3/3

Figure 3: Canasil Vizcaino Gold-Silver Project Phase 1 and 2 Drill Plan

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.

File: Attachment 260218 NR Canasil Vizcaino Drill Permit & Plans Final.pdf

Tel: 604-708 3788 Email: admin@canasil.com

NEWS RELEASE www.canasil.com February 18, 2026

Canasil Applies for Drill Permit for the Vizcaino Gold-Silver Project in Durango State, Mexico

Vancouver, February 18, 2026 - Canasil Resources Inc. (TSX-V:CLZ, DB Frankfurt: 3CC, "Canasil" or the "Company") is pleased to announce that the drill permit application for the Vizcaino Gold-Silver Project in Durango State, Mexico, is in progress. The drill program is fully funded and ready to proceed as soon as the drill permit is obtained. The Company expects to receive the drill permit by the end of Q1 2026 or early in Q2 2026 and to begin the Phase 1 drill program of 1,050 metres in 6 HQ core drill holes in Q2 2026. Following evaluation of the results from the Phase 1 program, the Company has planned a Phase 2 drill program of 1,450 metres in 8 HQ core drill holes. Quotes from drill contractors have already been received and are being evaluated to award the drill contract. The drill permit will also include provisions for follow-on drilling with step outs along strike and to depth so that it encompasses provisions for further drill programs at the Vizcaino project.

Vizcaino gold-silver project, Durango, Mexico The project hosts a potentially high-grade gold-silver epithermal vein, traced over a strike distance of 3 kilometres with outcrop widths of 1 metre to 12 metres. The Vizcaino project is located 127 kilometres north of the city of Durango in a highly prospective region surrounded by producing gold-silver mines and deposits, such as the Heliostar Metals (ex Argonaut Gold) San Agustin and El Castillo Mining Complex. See Fig. 1 Canasil Mexico Silver-Gold Projects. The Vizcaino project has never been drill tested before. The region is known for hosting significant gold-silver mines and deposits and lies centrally on the major recognized NW-SE silver trend running through Durango and Zacatecas States. Furthermore, it is also located on a W-E gold trend running through Durango State from Sinaloa State to the west to Northern Zacatecas State to the east. As such it sits on the crosshairs of two major gold-silver trends, which forms a strategic location.

The initial Phase 1 and Phase 2 drill programs include a total of 14 HQ core drill holes for 2,450 metres, located on seven sections designed to intercept and test the epithermal vein at vertical depths of 150 metres and 200 metres. The outcrops show classic banded epithermal textures typical of the higher levels of epithermal vein systems. See Fig. 2 Canasil Vizcaino Gold-Silver Project Surface Outcrop Epithermal Vein Textures. Vein outcrop samples returned anomalous gold values between 32 ppb and 141 ppb in 20 samples taken at the higher elevations (2,300 m to 2,350 m) to the SE over a strike distance of 1,000 m. At the NW end, at a lower elevation (2,250 m), gold values increased to between 161 ppb to 667 ppb in 9 samples over a strike distance of 400 m. This suggests that the surface expression is at the top of the system and the system is entirely intact with no erosion and grades are increasing with depth. The extensive strike and strong surface outcrop widths are encouraging signs for the discovery of a large fully intact epithermal vein system. Fig. 3 show the plan view of the vein and proposed drill program. The Company looks forward to the completion of the permit process and start of the drill program.

The technical information herein has been reviewed and approved by Gary Nordin, PGeo, a Qualified Person as defined by National Instrument 43-101 and a Director of Canasil.

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. page 2/3 News Release, February 18, 2026

Figure 1: Canasil Mexico Silver-Gold Projects in Durango and Zacatecas States, Mexico

Figure 2: Canasil Vizcaino Gold-Silver Project Surface Outcrop Epithermal Vein Textures Canasil Resources Inc. page 3/3 News Release, February 18, 2026

Figure 3: Canasil Vizcaino Gold-Silver Project Phase 1 and 2 Drill Plan

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.