Canasil Resources, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported loss of CAD 80,266 or CAD 0.00 per basic and diluted share compared to CAD 189,817 or CAD 0.01 per basic and diluted share for the same period a year ago. Loss before interest income was CAD 80,637 compared to CAD 191,083 for the same period a year ago. Cash resources used in operating activities was CAD 5,391 compared to CAD 87,130 for the same period a year ago. For the six months, the company reported loss of CAD 217,452 or CAD 0.01 per basic and diluted share compared to CAD 376,216 or CAD 0.01 per basic and diluted share for the same period a year ago. Loss before interest income was CAD 218,117 compared to CAD 379,553 for the same period a year ago. Cash resources provided by operating activities was CAD 78,086 compared to cash resources used in operating activities of CAD 288,828 for the same period a year ago.

Canasil Resources Inc. has outlined a high level Gold-Silver system at the Sandra-Escobar project in northern Durango State, Mexico. The mineralized system is centered on a large altered rhyolite dome complex, with surrounding geological formations, alteration patterns and extensive evidence of gold, silver and base metal mineralization. These features are indicative of a disseminated gold-silver system, similar to other large bulk tonnage gold-silver-base metal deposits associated with altered intrusive complexes, such as La Pitarrilla, El Cairo and San Agustin, located within a well recognized mineral trend in Durango State. The La Pitarrilla Silver Project of Silver Standard Resources is located 75 km ESE of the project area. The target objective at the Sandra-Escobar prospect is the discovery of a large disseminated gold-silver-base metal deposit. The company has initialed a further exploration program including systematic surface sampling, detailed geological mapping and geophysics to define drill targets and advance this project. Geological mapping and surface sampling to date has identified a central 1.5 square kilometer zone of pervasive potassic alteration, centered on the rhyolite dome complex, and fringed by an extensive area with propylitic to advanced argillic alteration observed over 10 square kilometers.

Canasil Resources Inc. reported consolidated unaudited earnings results for the first quarter ended March 31, 2009. For the period, the company reported loss before other items of CAD 137,480 against loss of CAD 188,470 for the same period earlier. Loss and comprehensive loss for the period was CAD 137,186 or CAD 0.00 per basic and diluted per share against loss of CAD 186,399 or CAD 0.01 per basic and diluted per share for the same period earlier. Cash flows from operating activities were CAD 83,477 against negative cash flow of CAD 201,698 for the same period earlier. Resource property expenditures were CAD 78,105 against CAD 211,800 for the same period earlier.