CanAsia Industries Corporation
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

August 27, 2010 04:46 ET

Canasia Industries Corporation: Drilling on Clone to Begin Shortly

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2010) - Canasia Industries Corporation (TSX VENTURE:CAJ)(OTCBB:CANSF)(FRANKFURT:45C) ("Canasia" and the "Company") wishes to announce that it has been informed by the operator of the Clone Prospect that the drill rig for the Clone Prospect is being moved to the property shortly and that barring any unforeseen issues, drilling is anticipated to begin in the coming days. The Clone Gold prospect returned grades as high as 44.75 g/t Au over 12.80 metres (announced October 22, 2009) and it is Canasia's flagship property. This drilling on the Clone will be the first since last years' drill program that returned the grades mentioned above.

Canasia has appointed Mr. Seth Kay VP of Corporate Communications, Mr. Daniel Terrett as VP of Public Relations, Mr. Richard Fonseca Junior VP, Mr. Dane Brown VP of Corporate Development and Mr. James Nelson Executive VP.

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Canasia has a well diversified portfolio of prospects. Canasia's current prospects include the following: (a) The Clone Gold prospect in Stewart, BC, that has returned grades as high as 44.75 g/t Au over 12.80 metres (announced October 22, 2009); (b) The Debut Gold prospect in NE Nevada; (c) 55,300 contiguous acres at Reed Lake, Manitoba; (d) 450,000 contiguous acres of Potash claims, bordering Alberta and Saskatchewan; (e) 130,500 acres prospective for Coal in SE Saskatchewan; (f) 180,000 acres prospective for Lithium in Alberta; (g) and mineral claims covering an area of approximately 9,200 hectares, located north and northwest of the El Oro -- Tlalpujahua Gold/Silver belt in the states of Guanajuato and Michoacan, Mexico.

Negar Adam, President, Director

Canasia Industries Corporation

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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