Vancouver, August 21, 2007 â€" Canasil Resources Inc. (â€śCanasilâ€ť TSX-V: CLZ) is pleased to announce that three diamond drills are currently working on the Companyâ€™s exploration projects in Mexico and British Columbia, Canada. Diamond drilling is in progress at the Colibri Silver-Copper-Zinc and the Salamandra Zinc-Silver projects in Durango State, Mexico, and on the Brenda Gold-Copper project in British Columbia, Canada. The Companyâ€™s 2007 exploration programs have proceeded as planned with the completion of over 5,500 metres of diamond drilling in Mexico to date. The Company has also completed further acquisitions and expansion of the project portfolio in Mexico, with the new areas currently under evaluation for additional target zones. At the Brenda project in British Columbia, a 3-Dimensional IP geophysical survey has been completed and diamond drilling is in progress. An overview and highlights of the progress on these programs is included below for reference:
1. Colibri Silver-Copper-Zinc project, Durango, Mexico
2007 News Releases: March 19 and April 16
2. Salamandra Zinc-Silver project, Durango, Mexico
2007 News Releases: Feb. 6,, March 27, April 30, June 11, and July 18
3. Brenda Gold-Copper Project, British Columbia, Canada
With the recently completed drill holes and drilling in progress at the Colibri and Salamandra projects, the Company will complete and exceed the total planned 2007 drill program of over 6,000 metres of diamond drilling in Mexico. The Company is planning between 1,500 to 2,000 metres of diamond drilling in the program which is currently in progress at the Brenda gold-copper project in British Columbia, bringing the total drilling planned for 2007 to over 8,000 metres. The planned programs are fully funded from $1,600,000 proceeds of the private placement completed in March 2007 and $1,156,000 received from full exercise of outstanding warrants expiring in June 2007. The results from these programs will become available progressively over the next two to three months.
Bahman Yamini, President & CEO commented: â€śWe are very pleased with the progress of our exploration programs to date in 2007, in particular with the positive drill results from the Colibri and Salamandra projects. We have managed to meet and exceed our planned objectives during the first half of the year, and consider having three diamond drill programs currently in progress on our exploration projects a significant achievement. This has been possible because of the efforts of our management team in Vancouver and operating team in Durango, and the performance of our contractors. We look forward to the possibility of further positive results from these active programs during the balance of 2007â€ť.
Canasil is a Canadian mineral exploration company with interests in precious and base metal properties in British Columbia, Canada, and in Durango, Sinaloa and Zacatecas States, Mexico. The Companyâ€™s directors and management include industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects. The Company is actively engaged in the exploration of mineral properties and evaluating additional acquisition opportunities.
For further information please contact:
Calgary: Garth McTavish
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for the adequacy or accuracy of the content of this news release.
This news release contains certain statements that may be deemed â€śforward-looking statementsâ€ť. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are 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 may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance. Forward-looking statements are based on the beliefs, estimates and opinions of the Companyâ€™s management on the date the statements are made.