Mr. Bahman Yamini reports

REDUCTION OF EXERCISE PRICE OF WARRANTS EXPIRING JUNE 21 AND 29, 2018

Canasil Resources Inc. has applied to the TSX Venture Exchange to reduce the exercise price of warrants expiring on June 21 and June 29, 2018, from 50 cents to 16 cents as an incentive for exercise over a limited period until March 23, 2018. Any warrants exercised will receive one common share of the company and one non-transferable replacement share purchase warrant. Each replacement warrant will entitle the holder to purchase one common share of the company at a price of 25 cents until Feb. 28, 2020. If the closing price of the company's shares exceeds 33 cents per share for a period of 10 consecutive trading days, the replacement warrants will be subject to an accelerated expiry date of 30 days, with such 30-day period to commence within seven calendar days after the 10th premium trading day. The price and expiry date of any original warrants that are not exercised under the above terms will remain unchanged.

The original warrants were issued in connection with a private placement of eight million units at 32 cents, which closed on June 21 and June 29, 2016. Each unit consisted of one common share of the company and one-half of one non-transferable share purchase warrant. Each whole warrant entitled the purchase of one common share of the company at a price of 50 cents within two years with original expiry dates of June 21 and June 29, 2018. The amended incentive warrant exercise price and terms are subject to acceptance by the TSX Venture Exchange.

About Canasil Resources Inc.

Canasil is a Canadian mineral exploration company with a strong portfolio of 100-per-cent-owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas states, Mexico, and in British Columbia, Canada.