Canasil Resources Inc.: MAG Silver plans to Canasil Salamandra project in the Mexican state of Durango, the implementation of a 3,000-meter drill program

 

Canasil Resources Inc.: MAG Silver plans to Canasil Salamandra project in the Mexican state of Durango, the implementation of a 3,000-meter drill program

Vancouver, 7. November 2013 – Canasil Resources Inc. (Canasil, TSX-V: CLZ, DB Frankfurt: 3CC, "Canasil" or the "Company") are known, dass MAG Silver Corp.. (MAG, TSX: MAG; NYSE-A: MVG) has silver-copper-zinc-lead project Salamandra defines a number of drill targets in the Mexican state of Durango, and a first 3.000 Meter diamond drill program intends to implement. The required drilling permits have been issued and the drilling program is to begin in the next three to four weeks, after the necessary hole for the access roads and drilling platforms were built. MAG und Canasil haben am 27. More 2013 signed a binding consent, with the MAG option to acquire 70 % stake in the project Salamandra has received.

MAG has recently taken surface samples and geological mapping carried out or. the geological data and drill core from previous exploration programs Canasil are re-evaluated. The existing material comes from previous surface sampling and geological mapping, geophysical measurements on the ground and in the air and a 12 Extensive diamond drill holes to a total of 3.500 Meter. This could in Salamandra 12 the 13 common indicators for so-called CRD deposits (CRD = Lagerstätte mit Karbonatverdrängung) be identified Р5 Indicators were determined over the MAG Project Cinco di Mayo at the time of acquisition.

Common features of all major known CRD deposits * Salamandra *

1. Location - Main Train CRD Belt Yes

2. Ag (+400 g/t), At, Zn, Pb, With, + Mn, As, The .... And

3. Several mineralized- Yes and Alterierungsphasen

4. Division into large zones Yes

5. Location above the carbonate rocks (Expansion potential) And

6. Existence of Felsitgängen Yes

7. Existence of Skarngestein Yes

8. Diskordante Geometry (not syngenetic) And

9. Displacement mineralization Yes

10. Sphalerite with high iron content Yes

11. Pyrite (pseudo-morph) And und Pyrrhotin

12. Molybdenum mineralization

13. Granittr√ľmmer Contact Zone skarn = Ziel Yes

* Data Source: Company Presentation MAG - November 2013

Agreement between Canasil and MAG for project Salamandra:

By convention, MAG has the first option to acquire 55 % der Anteile pm Projekt Newt. Dazu muss MAG 5.500.000 C $ invest in exploration and in total over a period of four years 750.000 Make cash payments to C $. In the first year are compulsory expenditure of 1.000.000 $ provided, where diamond drilling at least 3.000 Meters must be included. After fulfilling the first option, MAG, in addition, in a second option 15 % purchase of the shares and its participation as a total 70 % expand. There must either a NI43-101 compliant feasibility study created and passed or a further amount of within four years 20.000.000 C $ will be invested in exploration. The investment amounts to at least a year 2.500.000 C $ make.

Canasil Resources Inc.
Press Release No.. 10 – 2013: 7. November 2013 Page 2/2
____________________________________________________________________________

Silver-copper-zinc-lead project in Durango, Mexico Salamandra:

Das Projekt Salamandra prevent 35 km northeast of the city of Durango, has an area of 14.719 Hectare (140 Square kilometers) and has excellent transport links and infrastructure. The project site is located in a strategic position along the major silver-gold trend, which runs through the states of Durango and Zacatecas. The project is directly linked to a number of key operational sites and new discoveries and is located approximately 80 km northwest of the mine operated by Grupo Mexico San Martin, has similar geological conditions. The San Martin Mine is the largest underground copper-silver-zinc operation in Mexico and achieved a daily production volume of around 6.000 Tons.

The exploration carried out to date have potential for extensive and in intrusion- recognize and Massivsulfid-Skarn-/Mantoverdrängungssystem bedded carbonate rocks in the subsurface. Based on the first ground geophysics and diamond drilling analyzes a significant silver-zinc mineralization could be identified, in, among other portions of the 7,45 Meters with 50 g / t silver and 12 % Zinc or. 10 Meters with 71 g / t silver, 3,48 % Zinc and 1,26 % Lead contained. The mineralization associated with skarn- and hydrothermal breccias, sulfide-bearing veins and quartz porphyry dykes in conjunction. Initial metallurgical tests indicate high zinc- and silver recoveries back and show, that processing of concentrates is possible to clean.

One year 2011 performed geophysical ZTEM test flight was a 2,5 x 3,5 km wide, represent complex reaction area. Detailed sampling in this area led to the discovery of a high grade Erzgangaufschlusses, on the 0,90 Meters a grade of 2.150 g / t silver, 5,39 % Copper and 1,89 % Zinc had. In addition, samples were taken using the extended areas of anomalous silver-copper-antimony-arsenic and lead concentrations- and zinc found anomalies in the edge areas, comparable with the surface of the lead signature San Martin. Under previous drilling intersected, significant silver-zinc mineralization, the results of the airborne geophysical- and ground measurements and high-grade silver-copper-zinc Erzgangaufschluss in an area with extensive geochemical anomalies have potential for a large silver-copper-zinc-lead mineralization system to recognize.

√úber Canasil:

Canasil is a Canadian mineral exploration company with interests in precious- and base metal projects in the Mexican states of Durango, Sinaloa and Zacatecas and in British Columbia (Canada). To the directors and the company's management include industry professionals, have been extensive track record of identifying and advancing successful mineral exploration projects. The Company is actively engaged in the exploration of its mineral properties.

For more information, contact:

Bahman Yamini
UND President C.E.O.
Canasil Resources Inc.
Such: (604) 708-3788
www.canasil.com

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