| ||September 14, 2010|
Evaluating Projects in Tanzania
| ||Canasia Industries Corporation ("Canasia" and the "Company") (TSX VENTURE: CAJ.V)(PINK SHEETS: CANSF.PK)(FRANKFURT:45C) is currently evaluating projects for possible acquisition or joint venture in Tanzania. Once a final decision has been completed an announcement will be made. There is no deal completed at this time nor any guarantee that one will be completed.|
Recently, Canasia was informed by the operator that the first four holes have been completed at the Clone Gold Prospect near Stewart, BC. Visible gold has been encountered in all four holes. The budget for the 2010 Clone drill program will be approximately twice as large as last year's, which returned drill results grading as high as 44.75 g/t Au over 12.80 metres (announced October 22, 2009).
Negar Adam, president of Canasia stated, "At this time we are evaluating projects in Tanzania that may compliment our current stable of projects. We are hopeful that a deal may be reached but at this time no agreement has been completed. Presently drilling is moving ahead on the Clone Prospect and we are optimistic about the drilling progress in light of encountering visible gold the first four holes."
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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) significant acreage of Potash claims, bordering Alberta and Saskatchewan, which has been optioned out; (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 within the El Oro -- Tlalpujahua Gold/Silver belt in the states of Guanajuato and Michoacan, Mexico.
E.R. Kruchkowski, P. Geol., is the Qualified Person for the Clone project and has reviewed all content regarding the Clone.
Tel: 1877 2256755
Fax: 1604 689-1733
Canasia Industries Corporation
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