CanAsia Industries Corporation
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

December 30, 2009 03:01 ET

Canasia to Commence Mexico Operations

VANCOUVER, BRITISH COLUMBIA—(Marketwire – Dec. 30, 2009) - Canasia Industries Corporation (TSX VENTURE:CAJ)(FRANKFURT:45C)(OTCBB:CANSF) ("Canasia") wishes to announce that it has engaged Rio Minerals Ltd. to initiate an exploration program consisting of geological sampling and mapping on its 100% owned Buena Vista, Las Joyas, and Santo Nino Properties, in central Mexico. Work will commence in January 2010.

Work conducted in 2007 on the Buena Vista Property by the previous operator described Tertiary volcanic rocks of acid to intermediate composition with strong hydrothermal alteration observed in many areas; which include areas of vuggy silica and opaline quartz and advanced argillic alteration. Quartz veins with fine disseminated pyrite and iron oxides such as hematite and limonite have been observed. Some outcrops exhibit zones of crackle type brecciation close to the vein structures. This geological environment has potential to host precious metal high sulphidation epithermal systems similar to the Yanacocha Mine, Pierina (Perú), and El Indio (Chile).

The Las Joyas Property is located in the historic mining districts of El Oro and Tlalpujahua. This gold belt is characterized by gold-silver quartz veins and disseminated mineralization. The property is comprised of 31,601.52 hectares and the central area of the property contains small active gold mining claims.

The Santo Nino Property hosts a large area of hydrothermal alteration as well as several small past producing mines. Access to the Properties is via paved highway from either Mexico City or Guadalajara and all of the properties are well served by existing infrastructure.

Negar Towfigh, president of Canasia, stated: "We are pleased to have an additional project about to commence. In addition to having this prospect about to start operations, we are also anticipating operations to begin or continue on multiple other projects shortly."

The technical contents of this release have been approved by Greg Thomson, P. Geo., a Qualified Person as defined in NI 43-101.

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Canasia Industries 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 Ag over 12.80 metres (announced October 22,2009); (b) the Debut Gold prospect in NE Nevada where Kinross Gold is now actively drilling; (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 three mineral claims covering an area of approximately 31,602 hectares, located north and northwest of the El Oro -- Tlalpujahua Gold/Silver belt in the states of Guanajuato and Michoacan, Mexico.

"Negar Towfigh"
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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