Canasil Closes $708,750 Over-Subscribed Non-Brokered Private Placement and Receives $102,000 from Warrant Exercise for Total $810,750

Vancouver, Nov. 26 2021 – Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces closing of a non-brokered private placement (the “Placement”) of 4,350,000 Units at $0.125 per Unit for $543,750, and 1,100,000 Flow Through (“FT”) Shares at $0.15 per FT Share for $165,000, for total proceeds of $708,750 effective November 15 and 25, 2021. The Placement was initially announced for $500,000 and subsequently increased to $650,000 through news releases dated Oct. 19 and Oct. 22, 2021. The closing of the Placement is subject to final acceptance by the TSX Venture Exchange. The securities issued in connection with the Placement are subject to hold periods expiring four months and one day after the date of issuance. Finder’s fees of 6% for a total of $19,350 are payable on part of the proceeds of the Placement.

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