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Canasil Completes Remote Sensing Survey Data Acquisition for Vega, Lil and Granite Projects in British Columbia, Canada

Vancouver, February 26, 2013 - Canasil Resources Inc. (Canasil, TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil”) announces completion of remote sensing survey data acquisition for the Vega copper-gold, Lil silver, and Granite gold projects in north-central British Columbia, Canada. The survey is being conducted by Auracle Geospatial Science Ltd. The data set includes three separate sets of satellite image data including Worldview 2 multispectral high spatial resolution image data, Radarsat 1F fine Synthetic Aperture Radar (SAR) data, Short Wave Infra-red (SWIR) and Long Wave Thermal Infra-red (TIR) data, together with available archived geoscience data for the project areas.

These data sets are currently being processed and analyzed to generate three spectral mineral classification data sets covering target minerals, alteration minerals and lithological information, which will then be integrated with property related geoscience data. The combined data sets will be used to produce mineral, alteration and lithological models and maps of the project areas enabling identification of potential target zones and important structural features for further exploration and evaluation. The data analysis and technical report is expected to be completed within March 15, 2013. This survey will provide a systematic basis for guiding planned field exploration programs to define drill targets on these projects.

Vega copper-gold project:

The 100% owned Vega copper-gold project covers 11,104 hectares located in the Omineca Mining Division, 300 km northwest of Prince George, with access via the Omineca Mines Access Road and logging roads. The project has the potential for hosting both porphyry copper-gold mineralization as well as lenses of volcanogenic massive sulphide mineralization.

Lil silver project:

The 100% owned Lil silver project covers 6,145 hectares, located in the Omineca Mining Division, 350 kilometres northwest of Prince George, with access via the Omineca Mines Access Road and logging roads. Mineralization on the property consists of narrow high grade, silver bearing quartz veins and breccia zones, with extremely high grade silver values ranging from 4.3 ounces/ton silver to 325.4 ounces/ton silver, over widths ranging from 0.20 to 0.90 metres. Larger silver bearing floats, indicating greater widths, are found downstream in Lil creek. The mineralization show similarities to the Keno Hill-Galena Hill mining camp in the Yukon. Some local dolomitized carbonate rock outcrops indicate possibilities of a carbonate replacement system, particularly as limited sampling has shown elevated lead and zinc values at these showings.

Granite gold project:

The 100% owned Granite gold project covers 1,626 hectares in the Johansson Lake area of the Omineca Mining Division, located 360 km northwest of Prince George, with access via the Omineca Mines Access Road and auxiliary roads. Historical prospecting, trenching, and sampling of old underground workings returned high gold values of up to 10.30 g/t gold across 10 metres. Three mineralized shear zones with gold/silver mineralization have been identified to date on the property, with values from rock sampling returning gold and silver grades ranging from 1.99 g/t to 43.88 g/t gold and 9.94 g/t to 546.77 g/t silver, as well as a broad 300 metres by 2.0 kilometre gold soil anomaly.

About Canasil:

Canasil is a Canadian mineral exploration company with interests in precious and base metal projects in Durango, Sinaloa and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a 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) 708-3788
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.