Canasil Outlines Potential for Significant High-Grade Mineralized System at the Nora Silver-Gold Project in Durango State, Mexico

Canasil 140121

Vancouver, January 14, 2021 – Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces results from a review of the recently completed drill program and prior geochemical soil sampling at the Nora silver-gold project in north-central Durango State, Mexico. The high-grade gold and silver values returned from the drill program, particularly drill holes NRC-20-04 and NRC-20-06, are extremely encouraging and exceed expectations from a first drill program at the Nora project. The results from the six drill holes completed along 500 metres of the 3-kilometre traced strike of the Candy vein represent a significant discovery and warrant a larger Phase 2 follow up drill program. In addition the review of over 1,200 surface soil samples in the central zone of the project covering an area of 3 Km by 2Km highlight multiple coincident geochemical anomalies, both for silver, gold, copper, zinc and lead, as well as pathfinder minerals including arsenic, antimony, bismuth, cadmium, molybdenum and mercury. These results point to a strong mineralizing environment with multiple exploration targets and the potential for hosting a significant high-grade and disseminated silver-gold-copper-zinc-lead mineralized system.

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