CanAsia Industries Corporation
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

November 06, 2009 06:00 ET

Canasia Industries Corporation: Lithium Claims Finalized

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2009) - Canasia Industries Corporation ("CAJ") (TSX VENTURE:CAJ)(FRANKFURT:45C)(OTCBB:CANSF) wishes to announce that it has been notified that 73,728 contiguous hectares (approximately 182,000 acres) of land prospective for lithium has received final acceptance by the Alberta Government. CAJ intends to initiate the review of historic oil and gas wells, and geologic data from the property, including analyses of formation waters searched by the Alberta Research Council for the province, in preparation for a proposed sampling and analysis of formation waters.

Graeme Sewell, a director of CAJ stated, "We are pleased that final acceptance has been attained on our lithium prospect. Management feels that lithium will be a commodity in greater demand in the future and therefore felt it prudent to acquire a sizeable contiguous block at this time. In conjunction with the Lithium Prospect, management anticipates upcoming activities on multiple projects including the following: the Mexico Gold Prospect, the Reed Lake Prospect in Manitoba, our Nevada Gold Prospect with Kinross, and we continue to work on our Clone Gold Prospect which just returned grades of 12.8 metres of 44.75 g/t gold." (Announced October 22, 2009)

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Canasia Industries has a well diversified portfolio of prospects. Canasia's current prospects includes the following: the Clone Gold prospect in Stewart, BC, that has recently returned grades as high as 44.75 g/t Ag over 12.80 metres; the Debut Gold prospect in NE Nevada where Kinross Gold is now actively drilling; 199,736 contiguous acres at Reed Lake, Manitoba; 450,000 contiguous acres of Potash claims, bordering Alberta and Saskatchewan; 130,500 acres prospective for Coal in SE Saskatchewan; 180,000 acres prospective for Lithium in Alberta; and three mineral claims covering an area of approximately 44,522 hectares, located north and northwest of the El Oro -- Tlalpujahua Gold/Silver belt in the states of Guanajuato and Michoacan Mexico.

Graeme Sewell, 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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