Canasia Drills 7.93 Metres of 30.37 g/t and 20.12 Metres of 7.11 g/t on Clone Gold in Stewart Gold District of BC

VANCOUVER, BRITISH COLUMBIA, Oct 05 (MARKET WIRE) --
Canasia Industries Corporation (TSX VENTURE: CAJ)(FRANKFURT: 45C)(OTCBB:
CANSF) ("CAJ") is pleased to announce that the second phase of drilling
on the Clone gold property, situated 18 km southeast of Stewart, BC, is
now complete and wishes to report the first set of drill results to date
returned from Pioneer Laboratories. The remaining set of drill results
are expected within the next 10-14 days.

Holes #15 to 21 are from the Trench 4 and 14 areas. The major lithology
is observed to be light grey to green andesitic pyroclastics intercalated
with fine grained to aphanitic andesite. Clasts are subangular to
angular, matrix supported, and range in size from 1-3cm. Quartz-calcite
stockwork pervades the unit in moderate abundance. The mineralization is
localized within highly silicified semi-massive to massive
hematite-specularite and gold occurs as fine disseminations and is
associated with the oxide mineralization. A diabase dyke has been
observed in many of the holes, acting to minimize and in some cases
deplete the mineralized zone.

Most of these holes cut high-grade intersections as follows:

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Ho
le # From (m) To (m) Interval (m) Au (g/t)

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15 14.63 17.07 2.44 14.05
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16 13.72 21.64 7.92 20.22
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18 22.56 31.09 8.53 3.61
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46.33 50.60 4.27 26.23
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19 6.10 12.19 6.09 2.09
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20 4.57 24.69 20.12 7.11
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Incl. 16.76 24.69 7.93 15.28
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34.44 46.94 12.50 7.39
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21 11.89 19.81 7.92 30.37
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Incl. 11.89 13.72 1.83 115.80
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Holes #16, #20 and #21 were particularly impressive. Hole #16
intersected 7.92m grading 20.22 g/t , Hole #20 intersected two zones, the
first 20.12m grading 7.11 g/t and the second 12.5m grading 7.39 g/t. Hole
#21, the first hole of the second phase, returned bonanza values 7.93m of
30.37 g/t. Because snow cover obscured the surface trace of the zone,
true widths could not be calculated at this time.

Graeme Sewell, a director of Canasia stated, "The initial results
attained here are very exciting for management. Not only did we achieve
the highest grades drilled by Canasia on the Clone Prospect to date, but
it also appears that we may have encountered a new zone as witnessed by
the significant gold values intercepted in holes 18 and 20 at deeper
depths to the rest of the drilling. We look forward to the next set of
results as some of those holes appear to contain even more visible gold
than the holes reported today."

Holes #6 to #12 were drilled in the vicinity of Trench 81, approximately
160m to the southeast of Holes 15-21. They were successful in
intersecting sheared mineralized sections displaying local
auto-brecciation, intense hematite alteration, chlorite stringers, and
the cobalt containing mineral, erythrite.

Results are as follows:

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Hole # From (m) To (m) Interval (m) TW Au (g/t)
Coefficient
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6 17.98 22.25 4.27 0.940 2.00
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7 19.51 24.38 4.87 0.867 3.00
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8 14.94 24.69 9.75 0.745 2.05
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9 14.63 22.86 8.23 0.985 8.07
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11 35.36 42.37 7.01 0.500 3.82
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These holes returned lesser gold values over widths varying from 4.27
to 9.75m. True width coefficients are given in the table.

Holes #1 to #5 were drilled northeast of Trench #4 and did not return
appreciable gold values. These holes were probably erroneously sited due
to deep snow conditions.

E.R. Kruchkowski, P. Geol., is the Qualified Person for the Clone project
and has read and authorized this news release. Pioneer Laboratories of
Richmond, BC, an accredited facility, is performing the analyses. A
quality control program with blanks, standards and duplicates has been
instituted.

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

This press release contains projections and forward-looking information
that involve various risks and uncertainties regarding future events .
Such forward-looking information can include statements based on current
expectations involving a number of risks and uncertainties and are not
guarantees of future performance of the Company such as the willingness
of the parties to close the transaction, satisfactory results of the due
diligence investigation on the parties to the transaction, current
economic conditions and the state of mineral exploration and mineral
prices in general. These risks and uncertainties could cause actual
results and the Company's plans and objectives to differ materially from
those expressed in the forward-looking information. Due to conditions
precedent to closing, and the risk that these conditions precedent will
not be satisfied, the Company can offer no assurance that it will close
the definitive agreement. These and all subsequent written and oral
forward-looking information are based on estimates and opinions of
management on the dates they are made and expressly qualified in their
entirety by this notice. Except as required by law, the Company assumes
no obligation to update forward-looking information should circumstances
or management's estimates or opinions change.

Neither the TSX
Venture Exchange Inc. nor its Regulation Service Provider (as that term
is defined in the policies of the TSX Venture Exchange Inc.) accepts
responsibility for the adequacy or accuracy of this press release.

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

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