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Overview

Non-brokered Private Placement increased from 4,000,000 Units to 4,500,000 Units

December 8, 2003

Vancouver, December 8, 2003 - Canasil Resources Inc. (Canasil, TSXV: CLZ) is pleased to announce that, subject to approval by the applicable regulatory bodies, the non-brokered private placement of up to 4,000,000 Units at a price of $0.25 per Unit announced on November 26, 2003 has been increased to 4,500,000 Units for proceeds of up to $1,125,000. Each unit will consist of one common share and one-half share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.35 per share for a period of one year following the closing date.

Completion of the private placement is subject to approval by the TSX Venture Exchange. Finder’s fees will be paid on the placement in accordance with the Exchange guidelines.    

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

 

For further information please contact:

Mr. Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
604-709-0109
www.canasil.com

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