NEWS! CAJ Evaluates Projescts in TanzaniaJust saw this hit the wire. Keeps looking better for CAJ.
Press ReleaseSource: Canasia Industries CorporationOn Tuesday September 14, 2010, 1:03 pm
VANCOUVER, BRITISH COLUMBIA--(Marketwire -Sept. 14, 2010) - Canasia Industries Corporation ("Canasia" and the"Company") (TSX VENTURE:CAJ - News; PINK SHEETS:CANSF - News; FRANKFURT:45C - News)is currently evaluating projects for possible acquisition or jointventure in Tanzania. Once a final decision has been completed anannouncement will be made. There is no deal completed at this time norany guarantee that one will be completed.
Recently, Canasia wasinformed by the operator that the first four holes have been completedat the Clone Gold Prospect near Stewart, BC. Visible gold has beenencountered in all four holes. The budget for the 2010 Clone drillprogram will be approximately twice as large as last year's, whichreturned drill results grading as high as 44.75 g/t Au over 12.80 metres(announced October 22, 2009).
Negar Adam, president of Canasiastated, "At this time we are evaluating projects in Tanzania that maycompliment our current stable of projects. We are hopeful that a dealmay be reached but at this time no agreement has been completed.Presently drilling is moving ahead on the Clone Prospect and we areoptimistic about the drilling progress in light of encountering visiblegold the first four holes."
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Canasiahas a well diversified portfolio of prospects. Canasia's currentprospects 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) significantacreage of Potash claims, bordering Alberta and Saskatchewan, which hasbeen optioned out; (e) 130,500 acres prospective for Coal in SESaskatchewan; (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 statesof 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.
Neitherthe TSX Venture Exchange Inc. nor its Regulation Service Provider (asthat term is defined in the policies of the TSX Venture Exchange Inc.)accepts responsibility for the adequacy or accuracy of this pressrelease.