Mr. Bahman Yamini reports

CANASIL ANNOUNCES TERMINATION OF EXCLUSIVITY PERIOD WITH SILVER DOLLAR

Canasil Resources Inc. has terminated the exclusivity period provided for in the exclusivity agreement with Silver Dollar Resources Inc., previously announced on April 20, 2023, due to general market conditions. The exclusivity period provided Silver Dollar the opportunity to review Canasil's assets and consider a corporate merger.

Termination of the exclusivity period does not affect the separate option agreement between the parties, whereby Silver Dollar can earn a 100-per-cent interest in Canasil's Nora silver-gold property. Under the terms of the Nora option, Silver Dollar can earn a 100-per-cent interest in the Nora property by incurring total exploration expenditures of $3-million and making cash payments totalling $375,000 over five years. Upon earning a 100-per-cent interest in the Nora property, Silver Dollar will grant Canasil a 3-per-cent net smelter returns royalty, with Silver Dollar having the right to buy back 1 per cent of the royalty for $3-million. After exercising the option, Silver Dollar will also pay an annual advance royalty of $25,000, which will be offset against the 1-per-cent royalty buyback.

Pursuant to the agreements, Canasil now has 60 days to repay the $200,000 non-interest-bearing loan provided by Silver Dollar, in shares or cash at Canasil's option.

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.

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