Vancouver, November 07, 2022 – Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces that it has entered into a non-binding letter of intent dated November 6, 2022 (the “LOI”) with Silver Viper Minerals Corp. (SXV: VIPR, OTC: VIPRF) (“Silver Viper”) with respect to a proposed business combination (the “Proposed Transaction”) with Silver Viper. Under the Proposed Transaction, Silver Viper will acquire all of the issued and outstanding shares and convertible securities of Canasil in exchange for common shares of Silver Viper. Silver Viper is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora, and currently operates the La Virginia Gold-Silver Project