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

CanAsia Industries Corporation

March 22, 2010 03:01 ET

Canasia Industries Corporation: Reed Lake Drill Contractor Hired

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 22, 2010) - Canasia Industries Corporation (TSX VENTURE:CAJ)(OTCBB:CANSF)(FRANKFURT:45C) ("Canasia") wishes to announce that Rodren Drilling Ltd. ("Rodren") of Manitoba has been awarded the contract to drill at Reed Lake, Manitoba. Rodren has been involved in exploration in the Reed Lake area for more than 30 years and has extensive knowledge of the area to be drilled. Rodren worked for VMS Ventures Inc. on their recent drill programs, making them the logical choice to drill the Reed Lake prospect. Crews are being mobilized with drilling expected to commence within days to test the highest priority targets on the Reed Lake Prospect. These targets have been determined by using all the data collected over the past drill seasons including VTEM and DEEPEM analysis. 

Negar Towfigh, President of Canasia stated, "The Reed Lake Prospect is one of our two highest priority prospects, the other being the Clone Prospect in BC. It has been a year since we drilled on this prospect and based on all the additional data gathered from the last drill season, as well as the additional data gathered over the last few months, management feels that this is the best opportunity to achieve results we are hoping for on this prospect since acquiring it in 2007."

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 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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