Canasia Industries Corporation V.CAJ

CAJ Announces Permitting has Begun on Jumbo

[I_luv_GVG]

Hello everyone, Canasia Announces Permitting has Begun on Jumbo Prospect 10/17/2007 VANCOUVER, Oct. 17, 2007 (Canada NewsWire via COMTEX News Network) -- Trading Symbols: CAJ - Canada 45C - Germany CANSF - USA VANCOUVER, Oct. 17 /CNW/ - Canasia Industries Corporation (the "Company") wishes to announce that the Company has commenced permitting on the Jumbo Prospect. These permits will allow Canasia's geological crew access to the property to perform an I.P. survey and further mapping and trenching over the Company's JBZ1 and JBZ2 zones of known mineralization. J.B. Price Geological Consultants Inc. recommended a program targeting theses areas to further define drill targets. The Jumbo property is centered approximately 14 kilometers northeast of the town of Slocan, in the prolific Slocan Mining Division of SW British Columbia. The geology, stratigraphy, and potential of this type of gold-silver mineralization are for the "bonanza" type of high grade precious metal ore bodies. Graeme Sewell, director of Canasia stated, "Management is very encouraged to begin permitting the Jumbo Prospect. Canasia has developed a portfolio of world class properties including the recently acquired Reed Lake claims in Manitoba, which border next to VMS Ventures Inc.'s (VMS: TSXV) new discovery." If you would like to be added to Canasia's news distribution list, please send you email address to [e-mail]. "Graeme Sewell" Director Canasia Industries Corporation Disclaimer for Forward-Looking Information Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's ability to close the Purchase and Sale Agreement. 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 failure of the Letter Agreement to close for any reason. 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. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. SOURCE: Canasia Industries Corporation Tel: [phone], Fax:[phone], www.canasiaind.com, [e-mail] Copyright (C) 2007 CNW Group. All rights reserved. Cheers, I_luv_GVG