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Properties

– Mexico Properties

– Colibri, Durango State, Mexico

Power Point Presentation Fact Sheet

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Jerry D. Blackwell, P. Geo. B.C., Advisor to the Board of Canasil, is the designated Qualified Person for the Company's technical information in accordance with National Instrument 43 101.

Location, access and infrastructure

The Colibri district covered by the claims is on the eastern border of Sierra Madre Occidental volcanic province, and hosts a number of prospects with potentially high grade epithermal-mesothermal vein type mineralization carrying silver, copper, lead, zinc and gold. The project site is located 70 km southeast of the city of Durango with a travel time of approximately 1:30 hours. The infrastructure at the property is excellent with access to power, water and all required services. The climate and topography are moderate and typical of the high plateau areas on the Eastern edge of the Sierra Madre Occidental volcanic province at an elevation of 1,700 m to 2,500 m.

Geology and Exploration History

The geology of the area consists of Lower Volcanic Group Eocene andesites and scarce intercalated rhyolites. These units are overlain by Upper Volcanic Group Oligocene rhyolitic tuffs and ignimbrites. The Lower Volcanic Group formations are intruded by grandiorites and diorites. A number of mineralized structures are observed in the project area, occurring in epithermal to mesothermal fault controlled veins with silver sulphides, and lead and zinc minerals. Historical records indicate samples from these structures carried significant silver, lead and zinc values with gold credits. Observations during the initial project evaluation visits also indicate the possibility for disseminated silver mineralization.

There has been no recent systematic exploration in the project area and the Company plans to compile all available historical data, followed by a program of geological mapping and sampling to evaluate the numerous mineralized structures.

Canasil Exploration Programs

Geological mapping and surface sampling - 2006

The initial geological mapping and surface sampling program carried out in 2006 investigated mineralized structures observed in the northern sector of the very large area covered by the Colibri project. Systematic surface and channel sampling identified a number of mineralized veins, as well as large mineralized structures associated with the veins, over a strike length of of over 2,000 metres with widths of up to 50 metres. These structures comprise the Los Angeles, Linda, and Jessica veins, and extend from the northeast to southwest. The sampling program returned significant silver, zinc, copper and lead values with gold credits. The style and extent of the multiple mineralized structures indicate the possibility of a large mineralized system carrying silver, zinc, copper and lead.

The surface sampling and mapping program on the Los Angeles structure included a total of 455 channel samples. Three mineralized zones were identified by the sampling program; the northeastern zone has a strike length of 550 metres, and hosts a shear zone, with mineralized fractures and several quartz-barite veins. The best samples from this zone assayed up to 343 g/t silver, 12% zinc, 3.73% copper and 6.98% lead over widths of 0.90 to 1.30 metres (samples 1257 and 1310).

The central zone, located towards the southwest where the topography rises in elevation resulting in lower average grades. has a strike length of approximately 450 metres. Here the structure splits into two veins with widths between 1.00 and 2.40 metres. The best grades in this zone assay up to 124 g/t silver, 2.75% zinc and 3.36% lead over widths of 0.90 to 1.30 metres (samples 1551 and 1564). The third southwest zone consists of narrower veins and veinlets, with surface widths varying between 0.50 and 1.00 metres, over a strike length of 300 metres. These veins are arranged in the form of a horsetail structure, with a cumulative width of up to 50 metres. The best grades from samples in this structure assayed up to 241 g/t silver, 21.6% zinc, and 1.69% lead over widths of 0.60 to 0.90 metres (samples 1656 and 1659).

The Linda vein is located to the southeast of the Los Angeles structure, with a north-south strike. The vein has a strong surface expression and can be traced for over 400 metres. The eight samples from the Linda vein returned anomalous gold, silver and copper values, with one sample from mineral dumps carrying 1.19 g/t gold, 148 g/t silver and 1.46% copper, and another sample carrying 1.28 g/t gold and 271 g/t silver over 1.5 metres. The mineralogy of these samples is consistent with the upper levels of an epithermal system with potential for significant mineralization at depth.

The Jessica vein lies west southwest, and is possibly an extension of, the Los Angeles structure. There are a number of shallow mine workings in this area. A total of xxx surface rock and channel samples were collected to evaluate the Jessica vein over a strike length of over 750 metres. These returned significant silver and lead values of up to 319 g/t silver and 12.35% lead (from mineralized dumps).

Geological Mapping and Surface Sampling, Expanded Claim Area – March 2007

Further geological mapping and surface sampling at the Colibri project in March 2007 outlined significant extensions of existing veins and identified a number of new veins. Assay results from 50 surface samples with over 150g/t silver returned silver grades from 151g/t to 867g/t, gold grades from 0.01g/t to 3.07g/t, copper grades from 0.02% to 13.02%, zinc grades from 0.01% to 10.4%, and lead grades from 0.05% to 25.3%. A majority of the samples collected returned consistently high silver grades with varying levels of the other metals. A table with the assay results for the 50 samples is attached below, and the location of the veins within the Colibri claim block is shown on the updated sampling map.

The Company has also expanded the Colibri claim area to 16,074 Hectares (39,700 Acres) by adding a further 9,500 Hectares (23,500 Acres) to the existing claims. As a result the Colibri project now covers a large district within a prominent region known for hosting silver, copper, zinc and lead mineralization. The identification of numerous vein structures, some with strike lengths of over 4 kilometres, indicates the potential for multiple mineralized targets at the Colibri project for future exploration.

In particular, the strike length of the Linda vein, where the Phase 1 drill program has already identified a high grade copper and silver mineralized intercept of 3.70 metres (true width 2.83 metres) with an average grade of 3.49% copper, 98 g/t silver and 1.96% zinc, as previously announced on March 19, 2007, has been extended from 300 metres to over 4.0 kilometres.

Colibri Project – Mapping & Surface Sampling March & April 2007
Samples with over 150g/t Silver

Vein

Sample No.

Width Metres

 

Grades

Gold g/t

Silver g/t

Copper %

Lead %

Zinc %

Linda

7508

1.00

0.401

496

0.94

0.43

0.07

Linda

7510

1.00

0.90

190

0.27

0.11

0.00

Linda

7513

1.30

0.721

181

0.31

0.09

0.01

Linda

7544

2.00

0.28

161

0.08

1.83

0.10

Linda

7546

3.00

0.27

395

13.02

0.05

0.01

Linda

7711

2.00

0.015

151

0.05

0.89

0.28

Linda

7713

Dump

0.385

221

0.11

7.42

10.40

Linda

7718

4.00

0.022

161

0.02

1.16

0.97

Linda

7779

1.00

0.032

747

0.11

0.68

0.05

Linda

7781

1.00

0.046

193

0.03

0.13

0.02

Linda

7601

Dump

2.12

473

0.13

0.15

0.00

Elsa

7572

Dump

0.01

157

0.04

2.41

0.24

Elsa

7573

Dump

0.011

224

0.05

3.22

0.47

Elsa

7581

0.90

0.054

212

0.06

1.62

0.78

Elsa

7584

Dump

0.032

272

0.19

1.33

0.49

Elsa

7589

Dump

0.019

600

0.05

13.07

0.51

Plateros

7723

2.00

0.007

238

0.02

0.86

0.15

Plateros

7724

Dump

0.011

249

0.14

2.15

2.62

Plateros

7734

0.50

0.05

262

0.08

1.52

0.08

Rosario

7678

Dump

0.256

199

1.68

0.56

8.01

Rosario

7679

1.00

0.093

213

0.39

0.83

0.27

Rosario

7686

1.10

0.013

163

0.01

2.29

0.22

Sara

7785

Dump

<0.005

182

0.02

7.43

0.24

Sara

7787

1.00

0.025

320

0.09

1.45

0.08

Sara

7789

1.50

0.03

767

0.05

4.41

0.13

Sara

7794

1.00

0.023

323

0.05

3.37

0.04

Sara

7796

Dump

2.13

354

0.59

2.43

0.47

Sara

7797

Dump

3.07

516

1.34

3.02

0.95

Sara

7798

Dump

0.01

632

0.07

3.19

0.18

Sara

7799

1.00

0.111

201

0.21

0.22

0.06

Sara

7800

0.50

0.757

156

0.19

0.35

0.13

Sara

7802

1.50

0.042

386

0.77

2.05

0.06

Sara

7803

1.30

0.054

867

0.37

11.70

0.09

Sara

7804

1.00

0.007

356

0.06

1.83

0.05

Sara

7805

1.30

0.101

397

0.05

8.21

0.42

Sara

7806

Dump

0.006

158

0.02

5.44

0.82

Sara

7807

1.00

0.033

384

0.05

4.94

0.77

Sara

7808

1.50

<0.005

217

0.02

1.19

0.32

Sara

7809

0.50

0.012

209

0.02

5.48

0.08

Sara

7811

0.50

<0.005

221

0.01

0.78

0.06

Sara

7812

1.50

<0.005

253

0.01

0.81

0.13

Sara

7816

1.00

<0.005

428

0.01

6.91

0.07

Sara

7818

0.30

0.007

174

0.04

1.67

0.07

Sara

7820

2.00

<0.005

251

0.04

2.23

0.06

Sara

7821

0.50

0.013

587

0.02

4.89

0.87

Sara

7822

0.20

0.146

495

0.03

5.55

0.29

Sara

7823

2.00

<0.005

346

0.03

2.59

0.63

Sara

7825

1.00

<0.005

225

0.01

1.30

0.39

Sara

7826

1.00

<0.005

395

0.06

6.64

0.42

Sara

7831

0.20

<0.005

233

0.00

0.49

0.07

2007 Phase 1 Diamond Drill program:

The Phase 1 diamond drill Program included 18 drill holes for a total of 2,640 metres. The program tested the Los Angeles, Jessica and Linda veins to a depth of approximately 100 metres to 150 metres. The program returned high-grade mineralized intercepts from the Linda vein containing copper, silver and zinc, and a higher level intercept containing gold, silver and cobalt.

Drill hole CO-07-09 cut the vein with a width of 3.70 metres (true width 2.83 metres) with an average grade of 3.49% copper, 98 g/t silver and 1.96% zinc. A higher-grade segment of the vein returned 7.46% copper, 177 g/t silver and 0.30% zinc over 1.00 metre (true width 0.76 metres).

Drill hole CO-07-12 cut the vein with a width of 3.30 metres (true width 2.70 metres) with an average grade of 2.48% copper, 63 g/t silver and 0.12% zinc. The intercept included 1.00 metre (true width 0.82 metres) with an average grade of 6.82% copper, 173 g/t silver and 0.16% zinc. A hanging wall veinlet was also intersected over a width of 0.60 metres (true width 0.49 metres), carrying 87 g/t silver, 1.1% copper and 0.98% zinc.

Drill hole CO-07-13 intersected the Linda vein over a width of 13.16 metres (true width 9.30 metres) containing 33 g/t silver, 1.17% copper and 0.10% zinc. This intercept included 3.18 metres (true width 2.25 metres) carrying 58 g/t silver, 1.76% copper and 0.25% zinc, and 5.92 metres (true width 4.18 metres) carrying 37 g/t silver and 1.43% copper. A separate narrow hanging wall vein intersected by CO-07-13 close to the surface carried extremely high-grade copper-silver mineralization over a width of 0.25 metres (true width 0.18 metres) with 568 g/t silver and 23.10% copper.

A summary of the assay results from these drill holes is presented in the table below:

Colibri Project – Phase 1 Diamond Drill Program

Vein

Interval
Metres
From To

Intercept Width
Metres

True Width Metres

Grades

Silver
g/t

Copper
%

Zinc
%

Silver
Eq. g/t*

Linda Vein – Diamond Drill Hole C0-07-13

HW Veinlet

37.50

37.75

0.25

0.18

568

23.10

0.29

3,855

Linda

144.84

158.00

13.16

9.30

33

1.17

0.10

204

Includes

144.84

148.02

3.18

2.25

58

1.76

0.25

321

and

150.08

156.00

5.92

4.18

37

1.43

0.05

242

Linda Vein – Diamond Drill Hole C0-07-12

HW Vein

158.60

159.20

0.60

0.49

87

1.1

0.98

248

Linda

167.00

170.30

3.30

2.70

63

2.48

0.12

420

Includes

168.30

169.30

1.00

0.82

173

6.82

0.16

1,148

Linda Vein - Diamond Drill Hole CO-07-09

Linda Vein

74.65

78.35

3.70

2.83

98

3.49

1.96

703