Canasia Industries Corp. ("Canasia, or Company") (TSX VENTURE:CAJ)(FRANKFURT:45C)(OTCBB:CA... has received preliminary results from Geotech Ltd for the Reed Lake VTEM survey located in the Flin Flon district of Manitoba.

Condor Consulting ("Condor") of Colorado who are industry specialists in interpreting VTEM data have been retained to interpret our data. Condor's interpretation will aid in the selection of the highest priority drill targets. Company representatives are currently on site in Reed Lake in preparation for the anticipated upcoming drill program.

The Geotech VTEM survey is considered one of the airborne survey industry's best deep-penetrating electromagnetic and magnetic systems. The VTEM airborne magnetic and electromagnetic components have been successful used in outlining structures, favourable geology, zones of conductivity, magnetic zones and zones of alteration, some of which are coincident with areas of known mineralization. This type of geophysical survey is useful in advancing the property to the drill-ready stage.

Graeme Sewell, director of the Company stated, "This prospect is almost ready to drill. We have methodically built a plan through a step by step process to determine the highest potential drill targets. This prospect is directly contiguous to a recent discovery announced by VMS Ventures (May 22, 2008) with intercepts including 18.99 metres (62.3 feet) of 7.10 % Copper and 0.17 % Zinc. The exciting aspect of VMS's announcement is that according to their news the mineral zone appears to be continuing open to the west, which is trending to our property. Management is hopeful to be drilling in June on this high potential prospect and have made this a priority to move as quickly as possible to develop this prospect immediately. The month of June could be a significant milestone month for Canasia's cooperate growth as management anticipates that the drilling on the Reed Lake prospect will commence as well as the Potash and Coal permits are expected to be concluded as well."

If you would like to be added to Canasia's news distribution list, please send your email address to info@canasiaind.com.

Graeme Sewell, Director

Canasia Industries Corporation

Disclaimer for Forward-Looking Information

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; (11) the failure of the Letter of Intent or Letter Agreement to close for any reason; and (12) the ability of the Company to acquire the services of contract trades to perform work programs in a timely manner. 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.

SOURCE: CanAsia Industries Corporation

Canasia Industries Corporation Graeme Sewell Director (877) 428-8848 (604) 689-1733 (FAX) Email: info@canasiaind.com Website: www.canasiaind.com