CanAsia Industries Corporation
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

April 01, 2009 03:01 ET

Canasia Industries Corporation: Stock Work Feeder System Identified in First Phase of Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2009) - Canasia Industries Corporation (TSX VENTURE:CAJ) (OTCBB:CANSF) (FRANKFURT:45C) ("Canasia") and International Samuel Exploration Corp. have completed the first phase of the drill program on the Reed Lake project announced March 3rd 2009.

The companies are pleased to announce that they have completed 1,326 metres of drilling in 8 drill holes on its Reed Lake Property. Forty-three samples were collected for analysis including the following sections of massive sulphides:

- DDH-01 - Two zones of pyrrhotite and lesser pyrite of 7.8 metres and 6.05 metres respectively.

- DDH-02 - Two zones of stockwork feeder mineralization and semi-massive pyrrhotite, magnetite and pyrite in a chlorite matrix.

- DDH-07 - Two zones of semi-massive sulphide with pyrrhotite and magnetite with hornfels sedimentation and garnet in 8 metre and 5 metre sections respectively.

All samples have been submitted to Acme Labs of Vancouver for analysis and expect the results back within 3-6 weeks depending on the lab.

The property is strategically in the World-Class Flin Flon mining camp. The Flin Flon volcanic belt has hosted 27 economic mineral deposits over the past 75 years. Many of these deposits are polymetallic and contain significant contents of precious metals. The Flin Flon Volcanic massive sulphide deposit alone produced over 120 tonnes gold.

All the technical information for this release has been reviewed by the qualified person responsible for the Reed Lake program Derrick Strickland, P.Geo.

Graeme Sewell, a director of Canasia stated, "Samples are now into the lab and we expect the assaying to take between 3-6 weeks. The potential of the feeder zones which may have been uncovered will greatly assist us with the interpretation and planning of further phases of exploration and drilling."

If you would like to be added to Canasia's news distribution list, please send your email address to

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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