CanAsia Industries Corporation
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

March 03, 2010 03:01 ET

Canasia Industries Corporation: Reed Lake Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2010) - Canasia Industries Corporation (TSX VENTURE:CAJ)(OTCBB:CANSF)(FRANKFURT:45C) ("Canasia") wishes to announce that it has been informed that the ground mag has now been completed at Reed Lake. 32.1 line kilometres of DEEPEM (on two grids) have also been completed and have been sent off to a DEEPEM interpretive expert for give us projected depths. A final analysis is expected shortly which will enable the highest priority drill targets to be established with drilling expected to commence shortly.

Negar Towfigh, President of Canasia stated, "Our primary winter drill program at Reed Lake is moving forward as expected. All the data is expected to be analysed shortly and drilling will commence shortly. Canasia will also be attending the PDAC Resource Conference in Toronto in booth # 2612, so please come by to meet company representatives in person."

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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 recently 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 under lease agreement to Kinross Gold; (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.

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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