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– 2012

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Reduction of Exercise Price of Warrants

Vancouver, April 12, 2012 - Canasil Resources Inc.(“Canasil”, TSX-V: CLZ, DB Frankfurt: 3CC) announces that the Company is applying to the TSX Venture Exchange to reduce to $0.21 the exercise price of 610,000 warrants issued in connection with a private placement which closed on May 6, 2011. The expiry date of the warrants has not been changed and remains at May 6, 2012. The amended warrant price is subject to acceptance by the TSX Venture Exchange (“the Exchange”).

About Canasil:

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 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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.