CanAsia Industries Corporation
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

July 13, 2010 03:01 ET

Canasia's Flagship "Clone Gold Prospect" Commences Operations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 13, 2010) - Canasia Industries Corporation (TSX VENTURE:CAJ)(OTCBB:CANSF)(FRANKFURT:45C) ("Canasia" and the "Company") wishes to announce that it has commenced operations on its Clone Gold Prospect in Stewart, BC. Payment for the first phase of the 2010 drill program has been forwarded to the operator and drilling is anticipated to start shortly. The Clone Gold prospect returned grades as high as 44.75 g/t Au over 12.80 metres (announced October 22, 2009). The Clone Gold Prospect is Canasia's flagship property.

Negar Adam, President of Canasia stated, "Management and the vast majority of our shareholders have been waiting for this news. The Clone Gold Prospect is our single most important prospect and based on the significant results we achieved last year, the most important prospect in terms of our future growth. The Clone Prospect has a limited drill season based on its geographic location, therefore it can only be accessed during the summer months. Otherwise the Company would have continued to drill late in 2009 based on the significantly drill results achieved from the 2009 drill season. These results were the primary reason the shares rose from $0.07 to a high of $0.41 while trading more than 200 million shares in the second half of 2009. Management is optimistic regarding what the soon to commence 2010 drill program will provide."

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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 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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