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

CanAsia Industries Corporation

February 20, 2009 03:01 ET

Canasia Industries Corporation: Rodren Drilling Ltd. to Drill the Reed Lake Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2009) - Canasia Industries Corporation (TSX VENTURE:CAJ)(OTCBB:CANSF)(FRANKFURT:45C) ("Canasia") has engaged Rodren Drilling Ltd. ("Rodren") of Manitoba to drill the Reed Lake Prospect. Rodren has more than 30 years of drilling experience in Manitoba and has extensive knowledge of the area to be drilled. Rodren has worked with many companies over the years, including drilling on the VMS discovery zone bordering Canasia's property. Drilling is expected to commence shortly on the property, which is 199,736 acres in size.

Graeme Sewell, a director of Canasia stated, "We are very happy to have contracted Rodren to do our drilling. Rodren has a great reputation in this area and have drilled on the bordering property to ours that has achieved significant intercepts including 33.46 metres of 10.36% copper."

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

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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