Mr. Bahman Yamini reports

CANASIL CLOSES $500,000 PRIVATE PLACEMENT

Canasil Resources Inc. has received acceptance by the TSX Venture Exchange of a private placement for a total of 10 million common shares of the company at five cents per share for total proceeds of $500,000. There will be no warrants included in this placement and the company has not paid a commission or finders' fee on the proceeds. Certain insiders and existing shareholders have participated in this placement.

Insiders of the company subscribed for a total of 2.5 million shares. Participation by the insiders constitutes a related party transaction as defined under Multilateral Instrument 61-101. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the participation in the private placement by insiders does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

The proceeds will be used to finance the company's operations and exploration programs on its silver-gold-copper project portfolio in British Columbia, Canada, and in Durango and Zacatecas states, Mexico, as previously announced. The placement closed on Jan. 20, 2026. The shares issued under this placement are subject to a hold period of four months to May 20, 2026.

About Canasil Resources Inc.

Canasil is a Canadian mineral exploration company with a strong portfolio of 100-per-cent-owned silver-gold-copper exploration projects in Mexico and 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.