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– 2007

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Canasil Drilling Intersects More High-Grade Copper and Silver At the Colibri Project in Durango State, Mexico

Vancouver, November 13, 2007 " Canasil Resources Inc. (“Canasil” TSX-V: CLZ) is pleased to announce that further diamond drilling completed at the Colibri project in Durango State, Mexico, has returned more high-grade mineralized intercepts from the Linda vein containing copper, silver and zinc. Drill hole CO-07-12 cut the vein with a width of 3.30 metres (true width 2.70 metres) with an average grade of 2.48% copper, 63 g/t silver and 0.12% zinc. The intercept included 1.00 metre (true width 0.82 metres) with an average grade of 6.82% copper, 173 g/t silver and 0.16% zinc. A hanging wall veinlet was also intersected over a width of 0.60 metres (true width 0.49 metres), carrying 87 g/t silver, 1.1% copper and 0.98% zinc.

Drill hole CO-07-13 intersected the Linda vein over a width of 13.16 metres (true width 9.30 metres) containing 33 g/t silver, 1.17% copper and 0.10% zinc. This intercept included 3.18 metres (true width 2.25 metres) carrying 58 g/t silver, 1.76% copper and 0.25% zinc, and 5.92 metres (true width 4.18 metres) carrying 37 g/t silver and 1.43% copper. A separate narrow hanging wall vein intersected by CO-07-13 close to the surface carried extremely high-grade copper-silver mineralization over a width of 0.25 metres (true width 0.18 metres) with 568 g/t silver and 23.10% copper.

A summary of the assay results from these drill holes, as well as CO-07-09, announced on March 19, 2007, is presented in the table below, and a table with detailed sample intervals and assay results is attached below for reference.

Colibri Project " Phase 1 Diamond Drill Program

Vein

Interval " Metres
From To

Intercept Width
Metres

True Width Metres

Grades

Silver
g/t

Copper
%

Zinc
%

Silver Eq.
g/t*

Linda Vein " Diamond Drill Hole C0-07-13

HW Veinlet

37.50

37.75

0.25

0.18

568

23.10

0.29

3,855

Linda

144.84

158.00

13.16

9.30

33

1.17

0.10

204

Includes

144.84

148.02

3.18

2.25

58

1.76

0.25

321

and

150.08

156.00

5.92

4.18

37

1.43

0.05

242

Linda Vein " Diamond Drill Hole C0-07-12

HW Vein

158.60

159.20

0.60

0.49

87

1.1

0.98

248

Linda

167.00

170.30

3.30

2.70

63

2.48

0.12

420

Includes

168.30

169.30

1.00

0.82

173

6.82

0.16

1,148

Linda Vein - Diamond Drill Hole CO-07-09 (announced March 19, 2007)

Linda Vein

74.65

78.35

3.70

2.83

98

3.49

1.96

703

And

77.35

78.35

1.00

0.76

177

7.46

0.30

1,250

*Silver Equivalent based on $14.50/oz Silver, $3.00/lb Copper, $1.20/lb Zinc, assuming 100% recoveries

The Linda vein has a very prominent surface expression, which has now been traced for over 4,000 metres along strike. Mineralization observed in the drill intercepts consists of pyrite, chalcopyrite, galena and sphalerite. These drill holes confirm consistent copper-silver mineralization over a strike length of 150 metres in the central zone of the Linda vein.

The high grade copper-silver mineralization observed in the Linda vein at the Colibri project is similar to copper-silver mineralization being mined from deposits in the neighboring Zacatecas region. Drilling to date has investigated the vein close to the surface down to a depth of approximately 150 metres. There is considerable potential for further drilling to investigate this copper-silver structure along strike and at depth given the significant width and surface strike length of the Linda vein.

The 100% owned Colibri project covers an area of 16,074 hectares (39,700 acres), located 70 km south-southeast of the City of Durango. There are numerous veins and mineralized structures, which have been traced on surface over a cumulative strike distance of 14 kilometres, within highly altered zones observed throughout the project area. The project has excellent road access and good local infrastructure for supporting exploration and mining operations, and is located within 75 km of the San Martin mine of Grupo Mexico, the La Colorada mine of Pan American Silver Corp., and the La Parrilla mine of First Majestic Resource Corp.

The diamond drill program was supervised and carried out by the Company's wholly owned Mexican subsidiary, Minera Canasil S.A. de C.V., under the direction of Erme Enriquez, Director of Exploration and Development. Drill core was sent to the Company’s core processing and storage facility in Durango, for processing and preparation of assay samples. Samples are cut by diamond saw, and half is sent for assay and half secured for reference. Samples are sent to the SGS Laboratories in Durango for processing and assay analysis for gold and silver by fire assay with an atomic absorption finish (“FA-AA”) on a 30 gram split, and for copper, lead and zinc by digestion of 1.00 gram sample in aqua regia and analysis by AA. A duplicate set of pulp samples are also sent to ALS Chemex Laboratories in Vancouver for check assays. Reference samples are routinely included in the sample stream. Gary Nordin, P. Geo. British Columbia and Director of Canasil, is the designated Qualified Person for this project in accordance with National Instrument 43-101.

About Canasil:

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’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:

Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com

 

Corporate Communications
Vancouver: Doug Kerr
(604) 718-5454
Email: [email protected]

Calgary: Garth McTavish
Tel: (403) 618-7327
Email: [email protected]  

Toronto:
Tracy Weslosky or Fred Cowans
Pro-Edge Consultants Inc.
Tel: (416) 581-0177
Toll Free: (866) 544-9622
Email: [email protected]
[email protected]

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

This news release contains certain statements that may be deemed “forward-looking statements”.  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 Company’s management on the date the statements are made.

COLIBRI Drill holes CO-07-09, 12 and 13 - Sample Intervals and Assays:
(ALS Chemex, Vancouver)

COLIBRI Drill Hole CO-07-09

Sample

Interval

Width

Grades

No

From

To

m

Au g/t

Ag g/t

Cu %

Zn %

5522

74.65

75.30

0.65

0.376

49.8

0.76

10.15

5523

75.30

75.70

0.40

0.201

124.0

2.07

0.47

5524

75.70

76.20

0.50

0.159

169.0

6.97

0.12

5525

76.20

77.00

0.80

0.027

12.0

0.33

0.09

5526

77.00

77.35

0.35

0.085

30.6

1.11

0.13

5527

77.35

78.35

1.00

0.163

177.0

7.46

0.30


Average Grades

3.70

0.17

65

2.04

1.40


COLIBRI Drill Hole CO-07-12

Sample

Interval

Width

Grades

No

From

To

m

Au g/t

Ag g/t

Cu %

Zn %

Hanging Wall Vein

6886

158.60

159.20

0.60

0.181

87.2

1.1

0.98

Linda Vein

6893

167.00

168.30

1.30

0.028

19

0.81

0.10

6894

168.30

169.30

1.00

0.084

173

6.82

0.16

6895

169.30

170.30

1.00

0.074

9.1

0.31

0.11


Average Grades

3.30

0.06

63

2.48

0.12


COLIBRI Drill Hole CO-07-013

Sample

Interval

Width

Grades

No

From

To

m

Au g/t

Ag g/t

Cu %

Zn %

Hanging Wall Veinlet

6932

37.50

37.75

0.25

0.40

568

23.10

0.29

Linda Vein

6904

144.84

145.40

0.56

0.096

69.9

2.81

0.13

6905

145.40

146.10

0.70

0.213

49.5

1.49

0.65

6906

146.10

146.55

0.45

0.008

8.4

0.22

0.06

6907

146.55

147.00

0.45

0.225

62

2.15

0.11

6908

147.00

148.02

1.02

0.149

76.8

1.88

0.20

6909

148.02

149.00

0.98

0.053

4.3

0.14

0.04

6910

149.00

150.08

1.08

0.03

4.8

0.19

0.09

6911

150.08

151.00

0.92

0.09

39.4

1.51

0.11

6912

151.00

152.00

1.00

0.124

54.8

2.23

0.07

6913

152.00

153.00

1.00

0.168

28

1.25

0.04

6914

153.00

154.00

1.00

0.092

40.6

1.4

0.03

6915

154.00

155.00

1.00

0.099

12.5

0.58

0.02

6916

155.00

156.00

1.00

0.071

46.2

1.64

0.03

6917

156.00

157.00

1.00

0.057

3.8

0.13

0.02

6918

157.00

158.00

1.00

0.097

17.3

0.80

0.04


Average Grades

9.30

0.10

33

1.17

0.10

COLIBRI Silver-Copper-Zinc Project
Linda vein long section showing drill holes CO-07-09, 12 and 13: