Canasil Resources Inc. — Capital/Financing Update 2020

Nov 10, 2020

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Suite 1760 – 750 West Pender Street Vancouver, BC V6C 2T8 Canada

Tel: 604-708 3788 Fax: 604-708 3728 Email: admin@canasil.com

NEWS RELEASE November 09, 2020

TSX-V: CLZ www.canasil.com

Canasil Grants 250,000 Options and Increases Price and Extends 4,600,000 Options Expiring Dec. 21, 2020

Vancouver, Nov. 09, 2020 - Canasil Resources Inc. ( TSX-V: CLZ, DB Frankfurt: 3CC , “Canasil” or the “Company”) announces that in accordance with the Company’s Stock Option Plan the Company has granted 250,000 incentive stock options to a Consultant, exercisable at a price of $0.11 and valid for five years from the date of grant. The Company has also increased the strike price of 4,600,000 options expiring on Dec. 21, 2020, from $0.06 to $0.11 and extended the expiry date of these options to Dec. 21, 2025. The grant and extension of options are part of the Company’s annual review of outstanding stock options under its Stock Option Plan.

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-goldcopper-lead-zinc exploration 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 & CEO Canasil Resources Inc. 604-709 0109 ww.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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available .