Canasia Industries Corporation: Final VTEM Data Now Being Evaluated

VANCOUVER, BRITISH COLUMBIA, Jul 08, 2008 (MARKET WIRE via COMTEX News Network) --

Canasia Industries Corporation (TSX VENTURE: CAJ)(OTCBB: CANSF)(FRANKFURT: 45C) ("Canasia") wishes to announce that it has been notified that the final VTEM data has now been received. The data has been submitted to Condor Consulting Inc for final evaluation to establish potential drill targets at Canasia's Reed Lake Prospect in Manitoba. This prospect directly borders VMS Ventures Inc.'s ("VMS") property that encountered 33.46 metres of 10.36% Copper at Reed Lake (announced July 3, 2008).

Graeme Sewell, a director of Canasia stated, "This is great timing to receive the final data that may establish potential drill targets on this exciting prospect. VMS's recent copper intercept is their best to date and is the furthest west drill to date on their property. Our property is directly west of this copper intercept. When you combine this exciting prospect with our coal, potash and gold prospects, clearly Canasia has exposure to areas of the market that are in demand."

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; and (11) 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contacts: Canasia Industries Corporation Graeme Sewell Director 1-877-225-6755 (604) 689-1733 (FAX) Email: info@canasiaind.com Website: www.canasiaind.com

SOURCE: Canasia Industries Corporation

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