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Message: Canasia receives approval for Alberta lithium prospect

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Canasia receives approval for Alberta lithium prospect

posted on Nov 06, 09 09:40AM

2009-11-06 09:26 ET - News Release

Mr. Graeme Sewell reports

CANASIA INDUSTRIES CORPORATION: LITHIUM CLAIMS FINALIZED

Canasia Industries Corp. has been notified that 73,728 contiguous hectares (approximately 182,000 acres) of land prospective for lithium has received final acceptance by the Alberta government. Canasia intends to initiate the review of historic oil and gas wells, and geologic data from the property, including analyses of formation waters searched by the Alberta Research Council for the province, in preparation for a proposed sampling and analysis of formation waters.

Graeme Sewell, a director of Canasia, stated: "We are pleased that final acceptance has been attained on our lithium prospect. Management feels that lithium will be a commodity in greater demand in the future and therefore felt it prudent to acquire a sizeable contiguous block at this time. In conjunction with the lithium prospect, management anticipates upcoming activities on multiple projects including the following: the Mexico gold prospect, the Reed Lake prospect in Manitoba, our Nevada gold prospect with Kinross, and we continue to work on our Clone gold prospect which just returned grades of 12.8 metres of 44.75 grams per tonne gold (announced in Stockwatch on Oct. 22, 2009)."