CanAsia Industries Corporation
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

September 17, 2009 03:01 ET

Canasia Industries Corporation: Drill Cores to Be Re-Assayed on Clone Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2009) - Canasia Industries Corporation (TSX VENTURE:CAJ)(FRANKFURT:45C)(OTCBB:CANSF) ("CAJ") is pleased to announce that the second phase of drilling on the Clone gold property, situated 18 km southeast of Stewart, BC, is now complete and six of the fifteen holes drilled in phase two contained visible gold in sections. The operator has recently informed CAJ that due to high gold values obtained during the first phase of assaying, the results are being re-checked prior to release from Pioneer Laboratories.

The Clone property is host to at least four separate, parallel gold-bearing shear zones, which contain both sulphide-gold-cobalt and iron oxide-gold mineralization. Altogether fifteen holes were drilled in the second phase, testing undrilled portions of the "H-1" zone between Trenches 4, 14 and 15.

Core logging is under way and two loads of samples from the second phase have been already been sent to the assay lab. Samples from the first phase have all been sent in.

E.R. Kruchkowski, P. Geol., is the Qualified Person for the Clone project and has read and authorized this news release. Pioneer Laboratories of Richmond, BC, an accredited facility, is performing the analysis.

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Graeme Sewell, Director

Canasia Industries Corporation

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events such as the entry into and the closing of the definitive agreement with BC Co. Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company such as the willingness of the parties to close the transaction, satisfactory results of the due diligence investigation on the parties to the transaction, current economic conditions and the state of mineral exploration and mineral prices in general. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Due to conditions precedent to closing, and the risk that these conditions precedent will not be satisfied, the Company can offer no assurance that it will close the definitive agreement. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

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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