CanAsia Industries Corporation
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

March 19, 2008 03:01 ET

Canasia Initiates VTEM Survey at Reed Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2008) - Canasia Industries Corporation ("Canasia") (TSX VENTURE:CAJ) (FRANKFURT:45C) (OTCBB:CANSF) wishes to announce that Geotech Ltd. has now commenced a VTEM survey on the Reed Lake property located in the Flin Flon district of Manitoba, bordering VMS Ventures and HudBay Minerals.

The VTEM survey has been increased to 3,052 line kilometres from the original 2,830 line kilometres, to include an additional 222 line kilometres covering the staked claims immediately to the north of the VMS discovery. The survey will be flown at 100-metre line spacing.

The Geotech VTEM survey is considered one of the airborne survey industry's best deep-penetrating electromagnetic and magnetic systems. The VTEM airborne magnetic and electromagnetic components have been successfully used in outlining structures, favorable geology, zones of conductivity, magnetic zones and zones of alteration, some of which are coincident with areas of known mineralization. This type of geophysical survey is useful in advancing the property to the drill-ready stage.

Graeme Sewell, a director of the Company stated, "We are extremely pleased that Geotech has now commenced the VTEM survey at Reed Lake. VTEM is a proven new technology that will pin point the highest priority drill targets. These drill targets are expected to fall within the greenstone belt that extends south under the limestone into our property, which was verified by the VMS Ventures recent discovery hole. When you couple this exciting prospect with the significant POTASH acreage recently acquired, management believes that 2008 will be an active and exciting period for Canasia."

Derrick Strickland P.Geo., is the qualified person under 43-101 for the Reed Lake project.

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

Graeme Sewell


Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's ability to close the Purchase and Sale Agreement. 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; 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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