Canasia Industries Corporation ("Canasia") (TSX VENTURE: CAJ)(OTCBB: CANSF)(FRANKFURT: 45C) wishes to announce that it has entered into an Asset Purchase Agreement to acquire 100% interest in the Debut Gold Property, consisting of 16 claims near Elko, Nevada.

In December 2006, Canasia entered into an option agreement to earn a 50% interest in the property for consideration of spending $1,000,000 in exploration over ten years. The Asset Purchase Agreement requires Canasia to pay the vendor $35,000 and to issue 250,000 common shares of Canasia, subject to a 30 due diligence period and regulatory approval. This agreement supersedes the previous agreement.

Graeme Sewell, a director of Canasia, stated, "The Company is now in the process of acquiring 100% of the Debut Gold Property with a goal of entering into a joint venture for the exploration and/or development of the property."

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

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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