News & Media

Canasil Signs Letter of Intent to Acquire the Salamandra
Silver Zinc Project in Durango State, Mexico

March 1, 2006

VANCOUVER, March 1, 2006 – Canasil Resources Inc. (Canasil, TSXV: CLZ) announces that the Company’s wholly owned Mexican subsidiary, Minera Canasil S.A. de C.V. (Minera Canasil), has signed a letter of intent providing Minera Canasil with an option to acquire 100% interest in the Salamandra silver zinc project in Durango State, Mexico. The geological setting and mineralization at Salamandra is similar to the San Martin Mine of Grupo Mexico , located approximately 80 kilometres to the southeast. The San Martin Mine is the largest underground zinc-copper-silver mine in Mexico and currently operates at 5,600 tonnes per day.

Chip and grab samples at the Salamandra project contain encouraging grades of zinc and silver mineralization, grading up to 7.84% zinc and 25g/t silver over 3.2 metres. The mineralization is associated with fault and fracture replacement zones within a thin band of argilically altered and silicified siltstones and interbedded limestones along the southern contact of a rhyolite porphyry intrusive. The principal mineralized target area at the Salamandra project is a flat covered area to the south of the mineralized sediment outcrops covered by shallow gravel and basalt. A program of geological mapping and soil geochemical sampling is planned, followed by an induced polarization-resistivity survey to define targets for drilling.

Nine historical samples taken from the area below the main intrusive body reported strong zinc and silver values as presented in the table below. Two check samples taken during a property evaluation visit in January 2006 confirmed the positive zinc and silver values reported, with anomalous copper grades.

Salamandra project, Durango, Mexico – historical and evaluation samples:

Sample No.	Sample Ref.	UTM Coordinates East North		Elev. (m)	Width (m)	Gold g/t	Silver g/t	Lead %	Zinc %	Copper %
Historical Samples
1	426	567516	2670933	1937	Dump	0.05	12	0.07	3.76	0.08
2	427	567522	2670935	1934	Dump	0.16	10	0.05	3.44	0.04
3	428	567523	2670945	1934	3.20	0.09	25	0.07	7.84	0.34
4	429	567488	2670967	1944	25.00	0.02	4	0.06	1.62	0.01
5	430	567586	2670897	1931	12.00	0.08	16	0.23	3.03	0.03
6	431	567607	2670878	1944	Dump	0.04	16	0.22	1.40	0.04
7	432	567653	2670838	1943	10.00	0.03	20	0.35	1.35	0.04
8	433	567714	2670808	1946	15.00	0.02	10	0.17	0.47	0.01
9	434	567725	2670805	1940	Dump	0.04	10	0.17	0.41	0.02
Check Samples Jan. 2006
1	1762	567520	2670938	1934	3.00	0.19	39.8	0.10	6.59	0.52
2	1763	567517	2670929	1934	Dump	0.01	11.6	0.07	5.58	0.11

The Salamandra project covers 900 hectares (2,223 acres), located 35 km NE of the city of Durango in the El Guadiana valley in Durango State, with good access from Durango via paved and gravel roads. The Company has acquired a further 2,000 hectares (4,940 acres) by staking of ground surrounding the existing claims, making the total claim area covered by the project 2,900 hectares (7,163 acres). The access, infrastructure, climate and topography at Salamandra provide favourable conditions for exploration and development.

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, and has reviewed the contents of this announcement.

About Canasil:

Canasil is a Canadian mining and mineral exploration company with interests in base and precious metal properties in British Columbia, Canada , and in Durango, Sinaloa and Zacatecas States, Mexico . The Company’s management team includes industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects. The Company is actively engaged in the exploration of its mineral properties and in evaluating additional acquisition opportunities.

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:

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