Mr. Bahman Yamini of Canasil reports

CANASIL ANNOUNCES SILVER DOLLAR LOAN SETTLEMENT

Canasil Resources Inc. plans to settle the $200,000 non-interest-bearing loan from Silver Dollar Resources Inc. through the issuance of 6,666,667 units at a price of three cents per unit. The loan was granted as part of the exclusivity agreement with Silver Dollar as announced on April 20, 2023. The loan settlement is subject to approval by the TSX Venture Exchange.

Each unit will consist of one common share of the company and one non-transferable share purchase warrant. Each settlement warrant will be exercisable to acquire one additional common share of the company for a period of 24 months from the date of issuance at a price of five cents. The settlement shares and warrant shares will be subject to a statutory four-month-and-one-day hold period pursuant to applicable securities laws.

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.

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