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

CanAsia Industries Corporation

February 26, 2009 03:02 ET

Canasia Industries Corporation: Drill Program Initiated on 199,736 Acre Reed Lake Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2009) - Canasia Industries Corporation (TSX VENTURE:CAJ)(OTCBB:CANSF)(FRANKFURT:45C) ("Canasia") has been notified by the operator that the Reed Lake drill program is now underway. This drill program will consist of building access and drilling 10 holes totaling 2,000 metres. Canasia anticipates all drilling to be completed by the end of March 2009.

Rodren Drilling crews have been mobilized and the first hole is expected to be completed in early March. As soon as cores are processed they will be sent for assaying. This prospect is 199,736 acres and is bordering a recent discovery that has grades as high as 10.36% copper over 33.46 metres.

Canasia will be presenting at the upcoming PDAC Trade Show in Toronto, March 1st - 2nd at booth number 1143. All shareholders and interested parties are invited to come speak directly with Canasia representatives.

Graeme Sewell, a director of Canasia stated, "Management has spent over a year of data analysis and gathering to get to this stage. Management has chosen the highest priority drill targets and the board is optimistic that positive results may be achieved."

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

Graeme Sewell, Director

Canasia Industries Corporation

Disclaimer for Forward-Looking Information

Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, (8) inability to obtain all necessary environmental and regulatory approvals, (9) an increase in the number of competitors with larger resources, (10) other factors beyond the Company's control); and (11) the ability of the Company to acquire the services of contract trades to perform work programs in a timely manner. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian security regulators.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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