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– 2016

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Canasil Announces Non-Brokered Private Placement

Vancouver, February 4, 2016 - Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) is pleased to announce that it has arranged a non-brokered private placement of 2,000,000 common shares of the Company (“Shares”) at a price of $0.15 per Share (the “Offering”) for gross proceeds of $300,000. The proceeds will be used for continuing exploration programs on the Company’s mineral exploration projects and for working capital.

All securities issued pursuant to the Offering will be subject to resale restrictions for a period of four months from the closing date. No finders’ fees or commissions will be paid in connection with this private placement, which is subject to the approval of the TSX Venture Exchange.

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc projects in Durango 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 through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.

For further information please contact:

Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com

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