Vancouver, May 11, 2007 ‚Ä" Canasil Resources Inc. (‚ÄúCanasil‚ÄĚ TSX-V: CLZ, ‚ÄúThe Company‚ÄĚ) announces that it has entered into a letter agreement with Mr. Garth McTavish to provide Investor Relations services for the Company in Calgary, Alberta. Mr. McTavish will assist with the introduction of the Company‚Äôs operations and dissemination of information to the investment and financial communities. He has over 20 years of experience and an extensive network of contacts in the financial and brokerage industry in Calgary.
The agreement is for an initial term of six months and in consideration for the services the Company will pay a monthly fee of $3,750 and grant 150,000 incentive stock options exerciseable at a price of $0.75 per share for a period of two years. The options will vest in equal quarterly installments according to the Company‚Äôs incentive stock option plan. The letter agreement and the grant of options are subject to acceptance by the TSX Venture Exchange.
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 Company‚Äôs 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:
President and C.E.O.
Canasil Resources Inc.
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for the adequacy or accuracy of the content of this news release.