September 02, 2008 Eight Anomalies Interpreted on Reed Lake Prospect
Canasia Industries Corporation ("Canasia") is pleased to announce that it has been informed by the operator that they have received the preliminary interpretation of the Reed Lake VTEM data from Condor Consulting on the Reed Lake Claims in Manitoba. This data incorporated 3306 line kilometres. The preliminary VTEM interpretation has identified eight potential anomalies on the property. The eight anomalies are currently undergoing a detailed interpretation in an effort to identify outlining structures, favourable geology, and zones of alteration. Once the final data is received in approximately two weeks, it will be compared to the known areas of historical mineralization to verify new or confirm existing targets.
The property is strategically located bordering the VMS Ventures Inc. base metal discovery (10.36% Copper Over 33.46 Metres, July 3, 2008) in the historic and very prolific Flin Flon mining camp, with more than 27 significant mineral deposits continuously discovered over the past 75 years. The most recent discovery is HudBay's Lalor Lake property, with 20 million tonnes of 8.8 per cent zinc. If you would like to be added to Canasia's news distribution list, please send your email address to .
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.
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