CanAsia Industries Corporation
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

March 04, 2008 03:01 ET

Canasia Retains Geological Consulting Group for Potash Development

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2008) - Canasia Industries Corporation (the "Company") (TSX VENTURE:CAJ)(FRANKFURT:45C)(OTCBB:CANSF) wishes to announce that the Company has hired Dahrouge Geological Consulting Ltd. to assist in the evaluation and implementation of a work program on the Eyehill Creek Potash Prospect. The Eyehill Creek Potash Prospect consists of 20 Metallic and Industrial Minerals Permit (MAIM) Applications. These permit applications, which the Company anticipates will be granted shortly, encompass approximately 450,000 acres of lands prospective for potash.

The Eyehill Creek Potash Prospect is underlain at depth by the Prairie Evaporite Formation, the uppermost unit of the Elk Point Group. The Prairie Evaporite Formation occurs extensively across the plains region of western Canada, where individual potash beds can be up to seven meters thick.

The Potash-bearing beds of the Prairie Evaporite Formation are shown to project into the Eyehill Creek Property by Hamilton (1971), while Hamilton and Olson (1994) document a Potash Showing on the property. Most of the recorded Potash Exploration in Alberta occurred between 1965 and 1968. The Company believes that there is potential for the discovery of significant Potash resources on the Eyehill Creek Property.

Currently, there is no NI43-101 report on this property, nor are there proven, indicated or inferred resources. The Company plans to initiate a report shortly.

Graeme Sewell, a director of the Company stated, "Adding a quality geological firm to Canasia's team is a positive step forward in regards to the growth of the Company. Dahrouge Geological Consulting. brings many years of experience that will add tremendous value in terms of evaluating and implementing a work program with the ultimate goal of developing the Eyehill Creek Potash Prospect. When you couple our Potash Prospect with the Reed Lake Copper Prospect expected to have work starting shortly, clearly the Company has major corporate developments ahead of it."

Jody Dahrouge P. Geol., qualified person has reviewed this news release.

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

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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