News & Media

Sampling of Mineral Dumps Indicates Potential for High-grade Silver-Lead-Zinc Mineralization at La Esperanza Project, Zacatecas State, Mexico

December 16, 2005

VANCOUVER, December 16, 2005 – Canasil Resources Inc. (Canasil, TSXV: CLZ) announces the results of an initial geologic mapping and sampling program, undertaken in November 2005, at the La Esperanza project in Zacatecas State, Mexico. Thirty-eight samples were taken from dumps close to the vein and from surface pits over the vein and analyzed for gold plus 41 elements by ICP-MS by ALS Chemex Laboratories, Vancouver. The highest grades observed in these samples were 1,820 g/t silver, 10.05% lead and 8.66% zinc. 31 samples returned assays with over 100 g/t silver, with an average grade of 413 g/t silver, 2.17% lead and 3.08% zinc, as detailed in the table below and on the attached map:

Sample  No.	Width M	UTM Coordinates   East             North		Elev. (m)	Silver g/t	Lead %	Zinc %
603	1.50	600591	2583576	2464	332	0.46	0.38
605	Dump	600553	2583623	2476	1,820	0.36	0.17
606	1.20	600547	2583650	2476	307	0.13	0.10
608	0.80	600541	2583660	2476	322	0.30	0.15
609	Dump	600527	2583697	2488	779	0.18	1.32
610	Dump	600510	2583720	2492	688	0.13	0.33
614	Dump	600652	2583515	2449	1,460	6.35	0.68
615	Dump	600638	2583499	2449	771	2.31	0.82
616	Dump	600634	2583503	2449	198	2.80	7.61
617	Dump	600630	2583506	2449	690	2.59	1.78
618	Dump	600626	2583490	2449	252	1.69	3.59
619	Dump	600625	2583496	2449	123	2.42	8.66
620	Dump	600623	2583501	2449	260	3.47	2.56
621	Dump	600620	2583495	2449	157	1.14	1.26
622	Dump	600616	2583503	2449	302	3.03	4.67
623	Dump	600551	2583534	2438	177	1.44	1.98
624	Dump	600535	2583540	2438	305	1.82	1.33
625	Dump	600516	2583546	2438	268	0.46	0.54
626	Dump	600504	2583543	2438	673	10.25	5.77
627	Dump	600492	2583545	2438	117	1.46	3.29
628	Dump	600493	2583534	2438	390	2.20	1.78
629	Dump	600486	2583542	2438	304	3.36	8.25
630	Dump	600480	2583536	2438	385	2.41	5.02
634	Dump	600459	2583538	2438	206	2.09	2.51
635	Dump	600446	2583535	2438	185	0.84	2.23
636	Dump	600431	2583533	2438	131	0.78	1.30
637	Dump	600418	2583510	2438	167	1.75	3.41
638	Dump	600405	2583512	2438	192	2.09	4.21
639	Dump	600391	2583514	2438	263	2.56	4.76
640	Dump	600371	2583506	2438	350	3.61	8.38
641	Dump	600355	2583506	2438	249	2.66	6.52
Average grade of 31 samples					413	2.17	3.08

The La Esperanza property hosts a banded and cockade white to grey quartz breccia epithermal vein with silver, lead and zinc mineralization associated with argentiferours galena, silver sulfasalts and sphalerite There is a history of past mining activity at La Esperanza with direct shipments of reportedly high-grade ore to local smelters. There are a number of surface pits and dumps with ore left over from past mining operations around the vein and mine area. The mine was last active in 1970, and was reportedly mined on three levels, using a main access shaft down to a depth of approximately 90 metres. The old workings reportedly caved in when some of the main ore rich pillars were exploited.

The La Esperanza Vein has been traced by mapping of the collapsed workings over a strike length of 260 metres within rhyolite volcanics of the Upper Volcanic Series. Mapping shows andesitic volcanics of the Lower Volcanic Series outcrop lower in elevation and to the south of the La Esperanza Vein. There is good potential to outline mineralization, or additional blind mineralized vein structures, at depth within the lower volcanic sequence, which is the main host rock for vein mineralization in Mexico. A diamond drill program would be required to test for mineralized structures below the old mine workings.

Gary Nordin, P. Geo. British Columbia and Director of Canasil, is the designated Qualified Person for this project in accordance with National Instrument 43-101.

The La Esperanza project covers 413 hectares, located 100 km SSE of the city of Durango on the border between Durango and Zacatecas States. The project site is easily accessible from Canasil’s operating base in Durango. The project is also close to a number of prominent silver mines – San Martin mine operated by Grupo Mexico, the La Colorada mine of Pan American Silver and La Parrilla mine of First Majestic Resource Corp.

The Company’s wholly owned Mexican subsidiary, Minera Canasil S.A. de C.V. (Minera Canasil), has signed a letter agreement providing for an option to acquire the La Esperanza project, following a period of three months for property evaluation and due diligence from October to December 2005, after which Minera Canasil can decide to proceed with an agreement to acquire 100% interest in the project.

About Canasil:

Canasil is a Canadian-based mining and mineral exploration company with interests in base and precious metal properties in British Columbia, Canada, and Durango, Sinaloa and Zacatecas States, Mexico. The Company is actively engaged in the exploration of its mineral properties and in evaluating additional acquisition opportunities. The management team is focused on identifying and implementing strategies to increase the value of the Company’s mineral properties through cost effective and responsible development.

The TSX Venture Exchange has not reviewed and does not accept responsibility  for the adequacy or accuracy of the content of this news release.

For further information please contact:

Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
604-709-0109
www.canasil.com