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Canasia Retains Geological Consulting Group for Potash Development
VANCOUVER, BRITISH COLUMBIA - March 4, 2008 - Canasia Industries Corporation
(the "Company") (TSX VENTURE:CAJ; FRANKFURT:45C; OTCBB:CANSF) wishes to
announce that the Company has hired Dahrouge Geological Consulting Ltd. to
assist in the evaluation and implementation of a work program on the Eyehill
Creek Potash Prospect. The Eyehill Creek Potash Prospect consists of 20
Metallic and Industrial Minerals Permit (MAIM) Applications. These permit
applications, which the Company anticipates will be granted shortly,
encompass approximately 450,000 acres of lands prospective for potash.
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The Eyehill Creek Potash Prospect is underlain at depth by the Prairie
Evaporite Formation, the uppermost unit of the Elk Point Group. The Prairie
Evaporite Formation occurs extensively across the plains region of western
Canada, where individual potash beds can be up to seven meters thick.
The Potash-bearing beds of the Prairie Evaporite Formation are shown to
project into the Eyehill Creek Property by Hamilton (1971), while Hamilton
and Olson (1994) document a Potash Showing on the property. Most of the
recorded Potash Exploration in Alberta occurred between 1965 and 1968. The
Company believes that there is potential for the discovery of significant
Potash resources on the Eyehill Creek Property.
Currently, there is no NI43-101 report on this property, nor are there
proven, indicated or inferred resources. The Company plans to initiate a
report shortly.
Graeme Sewell, a director of the Company stated, "Adding a quality
geological firm to Canasia's team is a positive step forward in regards to
the growth of the Company. Dahrouge Geological Consulting. brings many years
of experience that will add tremendous value in terms of evaluating and
implementing a work program with the ultimate goal of developing the Eyehill
Creek Potash Prospect. When you couple our Potash Prospect with the Reed
Lake Copper Prospect expected to have work starting shortly, clearly the
Company has major corporate developments ahead of it."
Jody Dahrouge P. Geol., qualified person has reviewed this news release.
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
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Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which
reflect the expectations of management regarding the Company's ability to
close the Purchase and Sale Agreement. 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; 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.
InvestorIdeas.com Disclaimer: Issuers of press releases are solely responsible for the accuracy of the content.
For more information, please contact:
Graeme Sewell
Canasia Industries Corporation
Director
(778) 328-8848
(604) 689-1733 (FAX)
Email: info@canasiaind.com
Website: www.canasiaind.com
Source: Canasia Industries Corporation
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