Mr. Bahman Yamini reports

CANASIL PROVIDES BI-WEEKLY STATUS REPORT

On May 3, 2023, the British Columbia Securities Commission (the BCSC) granted a temporary management cease trade order (the MCTO) to Canasil Resources Inc. under National Policy 12-203 -- Management Cease Trade Orders. The application for the MCTO 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 (collectively, the required filings) before the May 1, 2023, filing deadline.

The MCTO 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 June 15, 2023, as planned or shortly thereafter. The MCTO will be in effect until the required filings are completed.

Pursuant to NP 12-203, the company must file biweekly status reports until the MCTO is revoked. The company reports that: (i) there have been no material changes with regards to the information disclosed for the grant of the MCTO; and (ii) there have been no failures by the company in fulfilling its stated intentions with respect to completing the required filings.

About Canasil Resources Inc.

Canasil is a Canadian mineral exploration company with a 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.