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– 2008

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Termination of Option Agreement on the Tres Marias/Cebollas Property Durango State, Mexico

Vancouver, December 04, 2008 - Canasil Resources Inc. (Canasil, TSX-V: CLZ) announces that further to its news release of November 26, 2008, Canasil has issued 275,000 common shares to Goldcorp Inc. at a deemed price of $0.10 per share, in connection with the termination of the Option and Joint Venture Agreement on the Tres Marias/Cebollas Property in Durango, Mexico, in full and final settlement of Canasil’s obligations under the agreement and in accordance with the policies of the TSX Venture Exchange.

In accordance with securities legislation currently in effect, the Shares will be subject to a “hold period” of four months plus one day after the closing.

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 its mineral properties.

For further information please contact:

Bahman Yamini

President and C.E.O.

Canasil Resources Inc.

Tel: (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.