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

CanAsia Industries Corporation

April 22, 2009 03:01 ET

Kinross Advises Canasia of Planned Drill Program on Debut Property in Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 22, 2009) - Canasia Industries Corporation ("Canasia") (TSX VENTURE:CAJ) (OTCBB:CANSF) (FRANKFURT:45C) wishes to announce that it has been notified by Kinross Gold USA ("Kinross"), who has a mineral lease agreement with Canasia on the Debut Prospect (announced Sept 9, 2008), that permitting to drill is expected to be filed in April on the prospect. The proposed plan will call for approximately 22 drill holes located on the property. Drilling is expected to take approximately 6-8 weeks. The agreement between Kinross and Canasia requires Kinross to spend a minimum of $3,000,000 U.S. in exploration.

Graeme Sewell, a director of Canasia stated, "This is a positive development for the company. Working with a major TSX gold company on this property, who has vast experience in the area, is a beneficial development for Canasia. The fact that Kinross approached Canasia to work on this prospect confirms management's optimism in regards to this gold prospect."

Canasia's active projects include the following: (a) 199,736 acres contiguous to and surrounding a recent major copper/gold discovery at Reed Lake Manitoba; (b) an active work program on over 450,000 acres of potash claims on the Saskatchewan/Alberta border; (c) coal permits covering approximately 244,417 acres, near multiple recent coal discoveries in S/E Saskatchewan; (d) Clone Gold prospect located in the Eskay Creek/Stewart Region of British Columbia; and (e) the Debut Gold property, is located in the Delker Mining District of NE Nevada, and has entered into a Mineral Lease Agreement with Kinross Gold USA on this prospect.

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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