File: '\\swfile\EmailIn\20260226 072044 Attachment 260226 NR Fabian Espinoza Appointed Exploration Manager Mexico Final.docx'

Tel: 604-708 3788

Email: admin@canasil.com

NEWS RELEASE

February 26, 2026 www.canasil.com

Canasil Appoints Fabian Espinoza as Exploration Manager, Mexico

Vancouver, February 26, 2026 - Canasil Resources Inc. (TSX-V:CLZ, DB Frankfurt: 3CC, "Canasil" or the "Company") is pleased to announce that Mr. Fabian Espinoza has been appointed as the Company's Exploration Manager, Mexico. Mr. Espinoza has already started working on developing and implementing the Company's exploration plans in Mexico.

Mr. Espinoza is a Certified Professional Geologist with over 18 years of international experience in mineral exploration across Mexico, the United States, and South America. He was most recently Exploration Manager for Hecla Mining Co. based in Durango, Mexico, and prior to that engaged by Hecla Mining as a Senior Exploration Geologist since 2018. He has extensive experience in managing field exploration strategy, program design and implementation of mineral exploration projects and has previously worked in this capacity for Alamos Gold, Yamana Gold, Coeur Mining, Queenstake Gold and Gradient Geophysics.

Mr. Espinoza is a graduate of the University of Sonora in Mexico and his key technical skills include Exploration Program Design and Execution, Leadership and Team Development, Budgeting, Cost Tracking and Project Evaluation, Drill Program Supervision, Geological Mapping & Core Logging, 3D Geological Modeling and Geological Interpretation, and Safety and Environmental Compliance. He is bilingual, native Spanish and fluent English.

Bahman Yamini, President and CEO of Canasil commented: 'We are very pleased to have attracted Fabian Espinoza to act as Canasil's Exploration Manager based in the city of Durango. Mexico, our operating base in Mexico. His extensive hands-on exploration experience with major companies such as Hecla Mining, Alamos Gold, Coeur Mining and Yamana Gold in the areas we operate in Mexico, as well as his technical skills in related fields, will be a significant asset in advancing our exploration projects in Mexico.'

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper exploration projects in Mexico and British Columbia, Canada. The Company's directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development.

For further information please contact:

Bahman Yamini

President and C.E.O.

Canasil Resources Inc.

Tel: (604) 708-3788

www.canasil.com

Canasil Resources Inc.

News Release, February 26, 2026 page 2/2

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts are forward looking statements, including statements that address future mineral production, reserve potential, exploration drilling, exploitation activities and events or developments. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, changes in commodities prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. The reader is referred to the Company's filings with the Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward looking statement will come to pass and investors should not place undue reliance upon forward-looking statements.

File: Attachment 260226 NR Fabian Espinoza Appointed Exploration Manager Mexico Final.pdf

Tel: 604-708 3788 Email: admin@canasil.com

NEWS RELEASE www.canasil.com February 26, 2026

Canasil Appoints Fabian Espinoza as Exploration Manager, Mexico

Vancouver, February 26, 2026 - Canasil Resources Inc. (TSX-V:CLZ, DB Frankfurt: 3CC, "Canasil" or the "Company") is pleased to announce that Mr. Fabian Espinoza has been appointed as the Company's Exploration Manager, Mexico. Mr. Espinoza has already started working on developing and implementing the Company's exploration plans in Mexico.

Mr. Espinoza is a Certified Professional Geologist with over 18 years of international experience in mineral exploration across Mexico, the United States, and South America. He was most recently Exploration Manager for Hecla Mining Co. based in Durango, Mexico, and prior to that engaged by Hecla Mining as a Senior Exploration Geologist since 2018. He has extensive experience in managing field exploration strategy, program design and implementation of mineral exploration projects and has previously worked in this capacity for Alamos Gold, Yamana Gold, Coeur Mining, Queenstake Gold and Gradient Geophysics.

Mr. Espinoza is a graduate of the University of Sonora in Mexico and his key technical skills include Exploration Program Design and Execution, Leadership and Team Development, Budgeting, Cost Tracking and Project Evaluation, Drill Program Supervision, Geological Mapping & Core Logging, 3D Geological Modeling and Geological Interpretation, and Safety and Environmental Compliance. He is bilingual, native Spanish and fluent English.

Bahman Yamini, President and CEO of Canasil commented: `We are very pleased to have attracted Fabian Espinoza to act as Canasil's Exploration Manager based in the city of Durango. Mexico, our operating base in Mexico. His extensive hands-on exploration experience with major companies such as Hecla Mining, Alamos Gold, Coeur Mining and Yamana Gold in the areas we operate in Mexico, as well as his technical skills in related fields, will be a significant asset in advancing our exploration projects in Mexico.'

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper exploration projects in Mexico and British Columbia, Canada. The Company's directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development.

For further information please contact:

Bahman Yamini President and C.E.O. Canasil Resources Inc. Tel: (604) 708-3788 www.canasil.com Canasil Resources Inc. page 2/2 News Release, February 26, 2026

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts are forward looking statements, including statements that address future mineral production, reserve potential, exploration drilling, exploitation activities and events or developments. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, changes in commodities prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. The reader is referred to the Company's filings with the Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward looking statement will come to pass and investors should not place undue reliance upon forward-looking statements.