Canasil Resources Mobilizes Rig and Starts Drill Program at La Esperanza Project

Canasil Resources Inc. (TSX.V: CLZ) (“Canasil” or the “Company”) has has received the required drill permit and mobilized a drill rig which is currently on site at the La Esperanza silver-lead-zinc project in Durango and Zacatecas States, Mexico. Drilling started on December 17, 2016, with the aim of completing the first drill hole before the year-end holidays. Drilling will then resume early in the New Year for a planned initial program of 1,500 metres to 2,000 metres in 4 to 5 drill holes.

Drilling will be targeted to investigate the La Esperanza vein along strike and at depth. Past drilling on this vein along an approximate strike length of 250 metres and to a relatively shallow depth of approximately 200 metres has returned consistent high-grade silver-lead-zinc intercepts. The La Esperanza vein structure is made up of the Main vein and an associated Hanging Wall vein at the upper levels. The average true width of intercepts from 8 drill holes on the Main La Esperanza vein was 4.21 metres returning 330 g/t silver, 0.93% zinc and 1.57% lead.

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