News Releases

Canasil Defines Gold-Silver Drill Targets
at Sandra-Escobar Project in Durango State, Mexico

May 3, 2010

Vancouver, May 03, 2010 - Canasil Resources Inc. (Canasil, TSX-V: CLZ) announces that the recently completed geological mapping and surface sampling program at the Company’s Sandra-Escobar Gold-Silver project in Durango State, Mexico, has defined anomalous gold-silver zones over an area of 1.5 kilometres x 1.5 kilometres flanked by copper, lead and zinc anomalies, presenting significant targets for drill testing. The correlation of the surface anomalies, geology and alteration system observed indicate the potential for a buried disseminated gold-silver system to be initially tested at a depth of 250 metres to 300 metres. In addition there are several previously identified high grade gold-silver veins surrounding this area, which present further targets for drill testing.

The gold-silver anomalies occur over a strongly hematite-argillic altered rhyolite dome associated with gold-silver bearing quartz veinlets in breccia zones over an area measuring 1,500 metres by 1,500 metres. The gold and silver is coincident with arsenic-bismuth and barite geochemical anomalies, and is flanked by a broad zinc and lead geochemical anomaly indicating the high level of an intrusive gold-silver bearing mineralized system.

The surface sampling program included 438 rock chip, soil and stream sediment samples over an area of approximately 5 square kilometres. Anomalous values range from 50 ppb to 5,600 ppb gold and 4 ppm to 166 ppm silver in rock chip samples, 50 ppb to 137 ppb gold and 4 ppm to 9.6 ppm silver in soil samples, and 15 ppb to 645 ppb gold and 0.6 ppm to 3.8 ppm silver in stream sediment samples.

There are also a number of high grade epithermal veins in the project area surrounding the anomalous gold-silver zone, which present further drill targets. These veins were previously sampled by Canasil and Pan American Silver and the sampling results have been previously reported. The table below provides selected sample results for reference from the veins to be drill tested:

The surface sampling and geological mapping program was supervised and carried out by the Company's wholly owned Mexican subsidiary, Minera Canasil S.A. de C.V., under the direction of Erme Enriquez CPG, Director of Exploration and Development. Samples were sent to ALS Chemex Laboratories in Zacatecas, ZA Mexico, for preparation and on to ALS Chemex in North Vancouver, B.C. Canada for assay analysis for gold and silver by fire assay with an atomic absorption finish (“FA-AA”) on a 30 gram split, and for copper, lead and zinc by digestion of 1.00 gram sample in aqua regia and analysis by AA. The samples reported by Pan American Silver were collected from near surface workings on the Candelaria vein by J. Carlos Rodriguez, and analyzed at the Luismin Laboratories (now SGS) in Durango, Mexico. Gary Nordin, P. Geo. British Columbia and Director of Canasil, is the designated Qualified Person for this project in accordance with National Instrument 43-101.

The Sandra-Escobar project is located in northern Durango State, Mexico, 200 kilometres northwest of the city of Durango with excellent access and infrastructure, on an important mineral trend with many past and presently producing silver-gold mines and deposits. Canasil holds 100% interest in the 7,451 hectares Sandra project claims, and has entered into an option agreement with Pan American Silver to earn 51% interest in Pan American’s 634 hectares adjoining Escobar project claims. The project area hosts a mineralized system centered on a large altered rhyolite dome complex, with surrounding geological formations, alteration patterns and extensive evidence of gold, silver and base metal mineralization, indicating the potential for discovery of a large disseminated gold-silver-base metal deposit.

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 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 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 release.