Vancouver, May 22, 2008 - Canasil Resources Inc. (Canasil, TSX-V: CLZ) announces that the Company has received a placement of $125,000 for the issuance of 500,000 shares at a price of $0.25 per share from Blackcomb Minerals Inc., as provided for in the Option and Joint Venture Agreement for the Salamandra and Victoria projects dated March 19, 2008. The placement is subject to acceptance by the TSX Venture Exchange (“the Exchange”). In accordance with securities legislation currently in effect, the shares will be subject to a statutory “hold period” of four months.
The proceeds of the private placement will be used for continuing exploration programs on the Company’s mineral exploration projects and for working capital.
Canasil is a Canadian mineral exploration company with interests in precious and base metal properties in Durango, Sinaloa and Zacatecas States, Mexico, and in British Columbia, Canada. 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:
Calgary: Garth McTavish
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for the adequacy or accuracy of the content of this news release.