Mr. Bahman Yamini reports

BCSC GRANTS CANASIL MANAGEMENT CEASE TRADE ORDER

On April 27, 2023, Canasil Resources Inc. applied to the British Columbia Securities Commission (the BCSC) for a temporary management cease trade order (the MCTO) under National Policy 12-203 -- Management Cease Trade Orders. The application was due to the expected delay in filing the company's audited financial statements for the financial year ended Dec. 31, 2022, and the management's discussion and analysis and related chief executive officer and chief financial officer certificates for this period before the May 1, 2023, filing deadline.

On May 3, 2023, the BCSC granted the temporary MCTO, which will prohibit trading in securities of the company by the chief executive officer and chief financial officer until such time as the required filings and all continuous disclosure requirements have been filed by the company, and the MCTO has been lifted. During the period in which the MCTO is effective, the general public will continue to be able to trade in the company's listed securities.

The company anticipates that it will be in a position to complete the required filings on or before June 15, 2023. The MCTO will be in effect until the required filings are completed. The company intends to satisfy the provisions of the alternative information guidelines set out in Section 10 of NP 12-203 so long as the required filings are outstanding.

About Canasil Resources Inc.

Canasil is a Canadian mineral exploration company with a strong portfolio of silver-gold-copper-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 record of identifying and advancing successful mineral exploration projects through to discovery and further development.

We seek Safe Harbor.