Canasil Announces Revocation of MCTO

Tel: 604-708 3788

Email: [email protected]

NEWS RELEASE TSX-V: CLZ

June 26, 2023 www.canasil.com

Canasil Announces Revocation of MCTO

Vancouver, June 26, 2023 – Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “ Canasil” or the

“Company”) is pleased to announce that effective June 23 , 2023, the British Columbia Securities

Commission revoked the temporary management cease trade order (the "MCTO") issued against certain

insiders of the company on May 03, 2023. The Company thanks its shareholders for their patience during

the period that the MCTO was in effect.

As previously announced, the MCTO was issued due to the expected delay in filing the Company’s audited

financial statements for the financial year ended December 31, 2022, and the accompanying management's

discussion and analysis and related certifications. For further information regarding the MCTO, please refer

to the Company’s news release dated May 04, 2023.

About Canasil

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 track record of identifying and

advancing successful mineral exploration projects through to discovery and further development.

For further information, please visit the Company website at www.canasil.com or contact:

Bahman Yamini

President and CEO

Canasil Resources Inc.

Tel: (604) 708-3788

Neither the 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 release.