CAJ HOLDINGS SYPNOSIS Canasia HoldingsDEBUT PROPERTY In July, 2010, our company was notified by the lessee of the Debut Prospect that they have elected not to proceed with exploration on the prospect. Exploration has ceased for the time being and noadditional advance royalty payments will be made to us. Our company continues to hold a 100% interest in the Debut Prospect and we are evaluating our options in respect to this property. COAL PERMITS IN SAKATCHEWAN This property is currently on hold as we focus on our gold properties and a decision on how to proceed on this property, if any, will be made in future. MEXICAN GOLD PROPERTY During the nine months ended March 31, 2011, we decided to write down to $1 the remaining mineral claim covering approximately 9,200 hectares located in the states of Guanajuato and Michoacan, Mexico. Accordingly, the related acquisition costs of $421,497 and the exploration costs of $101,100 were written off as of December 31, 2010. As at March 31, 2011, the net book value of the Mexian properties was $1. Subsequent to March 31, 2011, our company transferred all the shares of its Mexican subsidiary, Exloraciones, to arms' length parties. We no longer have a subsidiary in Mexico. ALBERTA LITHIUM PROPERTY In October 2010, we entered into a letter agreement to amend the option agreement, whereby we issuedan additional 500,000 common shares to the Optionor by January 31, 2011 and agreed to incur exploration costs of $370,000 by October 20, 2011. The amended letter agreement no longer requires us to incur $250,000 by October 20, 2010. This amended letter agreement has received TSX VentureExchange approval. We are currently in the process of hiring someone to prepare a report on this property to aid in determining how to proceed. Then the claims will be evaluated and a cost assessment completed. QUEBEC RARE EARTH PROPERTY - MAIN CLAIM As of March 31, 2011, the Company paid $2,080 in staking cost for 40 mineral claims for approximately 2,128 hectares of lithium prospect in Quebec. QUEBEC RARE EARTH PROPERTY - TAN CLAIMS Our company plans to raise the capital required for exploration of this property through the privateplacement of our equity securities. There is no assurance that our company will be able to obtain further funds required and if we are unsuccessful we will then evaluating maintaining the lease payments, or dropping some or all of the property. CLONE MINERAL CLAIM As at December 31, 2010, we have incurred exploration expenditures of $1,495,424 on this property. Our company was to spend $897,964 by December 31, 2010, but due to weather constraints we wereshort in expenditures by approximately $304,576. The optionor/operator has agreed to extend the work commitment until December 31, 2011. The operator is currently formulating a work program for the summer of 2011. We conducted a flow-through private placement subsequent to March 31,2011, in order to raise exploration funds to be used towards this property. The development of the Clone prospect is our foremost focus.Subsequent to March 31, 2011, it was determined that a vendor billing error resulted in $46,210 in HST being included as exploration costs up to December 31, 2010. This amount has been removed from exploration costs in the current quarter and properly charged as refundable HST. An additional$8,615 was assessed as exploration expenditures on the property, bringing the cumulative total as of March 31, 2011 to $1,457,829. EYEHILL CREEK POTASH PROPERTY During the nine months ended March 31, 2011, 3P International Energy allowed the claims to lapse. Therefore we no longer hold an interest in the Eyehill Prospect and the related acquisition costs of $476,522 and the exploration expenditures of $109,397 have been written off. We do not intend on pursuing legal action against 3P International Energy at this time. REED LAKE CLAIMS During May 2010, we were advised that the Reed Lake, Manitoba 2010 drill program returned noneconomic drill intercepts on this phase. Further evaluation to test our other targets is currently beingdiscussed with our joint venture partner. As at March 31, 2011, we have spent a total of $703,771 in exploration expenditures on this property.THE ABOVE WAS GLEANED FROM THE MOST RECENT MD&A FOR THE NINE MONTH ENDING MARCH 31 2011 POSTED ON SEDARFINANCIAL DETAILS CAN BE VIEWED IN THE SAME DOCUMENT