Canasia Receives Comfort Letters for 100% of Its Recent Coal Permit Applications

VANCOUVER, BRITISH COLUMBIA, Aug 26, 2008 (MARKET WIRE via COMTEX News Network) --

Canasia Industries Corp. (TSX VENTURE: CAJ)(OTCBB: CANSF)(FRANKFURT: 45C) ("Canasia") has received a comfort letter from the Saskatchewan Ministry of Energy and Resources covering 100 per cent of the coal permit applications applied for (announced on July 11, 2008). This letter indicates that Canasia is first in line on all of its applications. These applications have been given coal prospecting permitting numbers 5276 inclusive through 5335. This application covers 5 contiguous townships (approx 115,000 acres). These new applications are near Goldsource Mines Inc., as well as bordering a coal prospect that recently announced it had a historic drill hole that has an approximate 18.84-metre-thick coal interval between 47.70 metres and 66.54 metres.

The comfort letter confirms that Canasia is first in line for all the permits applied for and will be given priority sequence. The final granting of the coal permits is dependent upon government regulatory approval and time required to process the applications, which is at the discretion of the government of Saskatchewan. Granting of coal permits is subject to a final review of each application indicating the nature of the work and money to be expended. The comfort letter is not a guarantee that all or any of the permits will be issued to Canasia, only that Canasia is first in line for the permits. There is also no guarantee that if Canasia receives the permitted properties any economic amounts of coal will be found.

Graeme Sewell, a director of Canasia, stated, "Management is moving forward with the coal applications and is optimistic about the coal prospects of the company."

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.

Contacts: Canasia Industries Corp. Graeme Sewell Director 1-877-428-8848 (604) 689-1733 (FAX) Email: info@canasiaind.com Website: www.canasiaind.com

SOURCE: Canasia Industries Corporation

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