Reduction of Exercise Price of Warrants

Suite 915 – 700 West Pender Street Vancouver, BC Canada V6C 1G8

Tel: 604-708 3788 Fax: 604-708 3728 Email: [email protected]

NEWS RELEASE TSX-V: CLZ # 09 – 2014: November 04, 2014 www.canasil.com

Reduction of Exercise Price of Warrants Expiring December 6 and 31, 2014, and February 17, 2015

Vancouver, November 04, 2014 – Canasil Resources Inc. (“Canasil”, TSX-V: CLZ, DB Frankfurt: 3CC) announces that the Company has applied to the TSX Venture Exchange to reduce the exercise price of 2,220,000 warrants expiring on December 6 and 31, 2014, and February 17, 2015, from $0.15 to $0.08. The expiry dates will remain unchanged. These warrants were issued in connection with a private placement which closed on December 6 and 31, 2013, and February 17, 2014. The amended warrant exercise price is subject to acceptance by the TSX Venture Exchange (“the Exchange”).

About Canasil:

Canasil is a Canadian mineral exploration company with interests in precious and base metal properties in Durango, Sinaloa and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects. The Company is actively engaged in the exploration of its mineral properties.

For further information please contact:

Bahman Yamini President and C.E.O.

Canasil Resources Inc.

Tel: (604) 709-0109 www.canasil.com

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