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Message: news
Jul 22, 2010 03:01 ET

Crew on Site of Canasia's Flagship "Clone Gold Prospect"

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2010) - Canasia Industries Corporation (TSX VENTURE:CAJ)(OTCBB:CANSF)(FRANKFURT:45C) ("Canasia" and the "Company") has been informed by the operator that crews have been mobilized at the Clone Gold property to initiate the 2010 summer drill program. Drilling is anticipated to begin in August. 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, "It is exciting to be nearing the commencement of the 2010 drill program on the Clone. Currently, this is Canasia's most important project and management is hopeful similar grades can be achieved this drill season that were intersected last season."

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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; (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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