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Canasil Resources

Private Placement Arranged
URL: http://canasil.com/news_releases/2007/index.php?content_id=38&page_number=1

Content was created on: December 9, 2002

PRIVATE PLACEMENT ARRANGED

Canasil Resources Inc. (TSX Venture Exchange CLZ) "Canasil" is pleased to announce agreement on a non-brokered private placement of up to 1,000,000 units at a price of $0.10 per unit for total proceeds of $100,000.  Each unit will consist of one common share and one share purchase warrant exercisable for a one-year period at a price of $0.15.

The proceeds from the placement will be used for working capital.  The placement is subject to acceptance by the TSX Venture Exchange.

About Canasil:

Canasil is a Canadian-based mining and mineral exploration company with a portfolio of precious metal properties in British Columbia, Canada. The management team is focused on enhancing shareholder value by identifying and implementing strategies to increase the value of the Company’s mineral properties through cost effective and responsible development.

For further information please contact:

Mr. Bahman Yamini

President and C.E.O.

Canasil Resource Inc.
604-709-0109
www.canasil.com


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