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

CanAsia Industries Corporation

October 26, 2010 03:01 ET

Canasia Industries Corporation: 66.58 g/t Gold Over 2.5m at Clone Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2010) - Canasia Industries Corporation ("Canasia" and the "Company") (TSX VENTURE:CAJ)(PINK SHEETS:CANSF)(FRANKFURT:45C) has been informed by the operator that the results have been received for the remaining 14 holes of the 2010 program on the Clone property, located southeast of Stewart, BC. 

Holes 3 to 10 were drilled at the southeastern end of the high-grade zone in the H-1 structure and were drilled at shallow angles in order to guide the bulk sampling program. Holes 11 and 12 were drilled as a deep test under the H-1 structure and holes 13-16 were drilled at the northwestern limits of the H-1 structure about 300m from the first holes of the program. Significant results follow:

Drill Interval   Length   Gold  
Hole (metres ) (metres ) (g/t )
CL10-03 23.41 to 26.82   3.41   14.63  
CL10-04 27.19 to 28.10   0.91   13.26  
CL10-05 19.66 to 20.27   0.61   16.50  
  48.46 to 48.89   0.43   11.35  
CL10-06 21.43 to 22.77   1.34   48.53  
CL10-07 22.07 to 24.57   2.50   66.58  
Incl. 22.07 to 22.62   0.55   222.75  
CL10-08 19.51 to 22.80   3.29   12.74  
Incl. 21.85 to 22.80   0.94   38.88  
CL10--09 17.80 to 23.47   5.67   6.75  
Incl. 21.58 to 22.65   1.07   33.23  
CL10-10 60.05 to 63.09   3.05   14.05  
Incl. 60.05 to 61.23   1.19   27.12  
CL-10-14 123.44 to 128.53   5.09   2.07  

True widths of the intervals are estimated at between 70 and 94%.

The high-grade mineralized zone exhibits distinctive signs of hydrothermal brecciation, with gold occurring as fine disseminations localized within intensely chloritized, highly silicified semi-massive to massive hematite-specularite.

Negar Adam, president of the Canasia stated, "We are pleased that the primary gold zone has been extended to the southeast. These results will greatly assist in the much larger bulk sample program that we have planned. We also anticipate receiving the results shortly from the additional samples from the bulk sample collected in the past few months. Management is encouraged by the results of these additional 14 drill holes, as they reinforce and extend the zone of focus on the Clone Gold Prospect."

The QA/QC protocol system employed during the 2010 exploration program included procedures for monitoring the chain-of-custody of samples and the insertion of blanks and reference standard samples in every batch of samples. Pioneer Laboratories of Richmond, BC., an accredited facility, performed the analyses.

E.R. Kruchkowski, PGeo, a qualified person under National Instrument 43-101, has read and authorized this news release.

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

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 within 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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