CanAsia Industries Corporation
TSX VENTURE : CAJ
FRANKFURT : 45C
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

October 05, 2009 03:01 ET

Canasia Drills 7.93 Metres of 30.37 g/t and 20.12 Metres of 7.11 g/t on Clone Gold in Stewart Gold District of BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2009) - Canasia Industries Corporation (TSX VENTURE:CAJ)(FRANKFURT:45C)(OTCBB:CANSF) ("CAJ") is pleased to announce that the second phase of drilling on the Clone gold property, situated 18 km southeast of Stewart, BC, is now complete and wishes to report the first set of drill results to date returned from Pioneer Laboratories. The remaining set of drill results are expected within the next 10-14 days.

Holes #15 to 21 are from the Trench 4 and 14 areas. The major lithology is observed to be light grey to green andesitic pyroclastics intercalated with fine grained to aphanitic andesite. Clasts are subangular to angular, matrix supported, and range in size from 1-3cm. Quartz-calcite stockwork pervades the unit in moderate abundance. The mineralization is localized within highly silicified semi-massive to massive hematite-specularite and gold occurs as fine disseminations and is associated with the oxide mineralization. A diabase dyke has been observed in many of the holes, acting to minimize and in some cases deplete the mineralized zone.

Most of these holes cut high-grade intersections as follows:



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Hole # From (m) To (m) Interval (m) Au (g/t)

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15 14.63 17.07 2.44 14.05
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16 13.72 21.64 7.92 20.22
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18 22.56 31.09 8.53 3.61
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46.33 50.60 4.27 26.23
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19 6.10 12.19 6.09 2.09
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20 4.57 24.69 20.12 7.11
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Incl. 16.76 24.69 7.93 15.28
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34.44 46.94 12.50 7.39
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21 11.89 19.81 7.92 30.37
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Incl. 11.89 13.72 1.83 115.80
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Holes #16, #20 and #21 were particularly impressive. Hole #16 intersected 7.92m grading 20.22 g/t , Hole #20 intersected two zones, the first 20.12m grading 7.11 g/t and the second 12.5m grading 7.39 g/t. Hole #21, the first hole of the second phase, returned bonanza values 7.93m of 30.37 g/t. Because snow cover obscured the surface trace of the zone, true widths could not be calculated at this time.

Graeme Sewell, a director of Canasia stated, "The initial results attained here are very exciting for management. Not only did we achieve the highest grades drilled by Canasia on the Clone Prospect to date, but it also appears that we may have encountered a new zone as witnessed by the significant gold values intercepted in holes 18 and 20 at deeper depths to the rest of the drilling. We look forward to the next set of results as some of those holes appear to contain even more visible gold than the holes reported today."

Holes #6 to #12 were drilled in the vicinity of Trench 81, approximately 160m to the southeast of Holes 15-21. They were successful in intersecting sheared mineralized sections displaying local auto-brecciation, intense hematite alteration, chlorite stringers, and the cobalt containing mineral, erythrite.

Results are as follows:



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Hole # From (m) To (m) Interval (m) TW Au (g/t)
Coefficient
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6 17.98 22.25 4.27 0.940 2.00
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7 19.51 24.38 4.87 0.867 3.00
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8 14.94 24.69 9.75 0.745 2.05
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9 14.63 22.86 8.23 0.985 8.07
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11 35.36 42.37 7.01 0.500 3.82
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These holes returned lesser gold values over widths varying from 4.27 to 9.75m. True width coefficients are given in the table.

Holes #1 to #5 were drilled northeast of Trench #4 and did not return appreciable gold values. These holes were probably erroneously sited due to deep snow conditions.

E.R. Kruchkowski, P. Geol., is the Qualified Person for the Clone project and has read and authorized this news release. Pioneer Laboratories of Richmond, BC, an accredited facility, is performing the analyses. A quality control program with blanks, standards and duplicates has been instituted.

If you would like to be added to Canasia's news distribution list, please send your email address to info@canasiaind.com.

Graeme Sewell, Director

Canasia Industries Corporation

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events . Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company such as the willingness of the parties to close the transaction, satisfactory results of the due diligence investigation on the parties to the transaction, current economic conditions and the state of mineral exploration and mineral prices in general. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Due to conditions precedent to closing, and the risk that these conditions precedent will not be satisfied, the Company can offer no assurance that it will close the definitive agreement. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

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