VANCOUVER, BRITISH COLUMBIA, Jul 13 (MARKET WIRE) —
Canasia Industries Corporation (TSX VENTURE: CAJ)(OTCBB:
CANSF)(FRANKFURT: 45C) (“Canasia” and the “Company”) wishes to announce
that it has commenced operations on its Clone Gold Prospect in Stewart,
BC. Payment for the first phase of the 2010 drill program has been
forwarded to the operator and drilling is anticipated to start shortly.
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, “Management and the vast
majority of our shareholders have been waiting for this news. The Clone
Gold Prospect is our single most important prospect and based on the
significant results we achieved last year, the most important prospect in
terms of our future growth. The Clone Prospect has a limited drill season
based on its geographic location, therefore it can only be accessed
during the summer months. Otherwise the Company would have continued to
drill late in 2009 based on the significantly drill results achieved from
the 2009 drill season. These results were the primary reason the shares
rose from $0.07 to a high of $0.41 while trading more than 200 million
shares in the second half of 2009. Management is optimistic regarding
what the soon to commence 2010 drill program will provide.”
If you would like to be added to Canasia’s news distribution list, please
send your email address to email@example.com.
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
under lease agreement to Kinross Gold; (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
Canasia Industries Corporation
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