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Re: News Release - Monday, December 10, 2007
Canasia Initiates Work Program on Reed Lake Claims in Manitoba
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Vancouver, B.C. Canasia Industries Corporation (the "Company") is
pleased to announce that it has engaged Geotech Ltd. to undertake a
VTEM survey on the highly prospective Reed Lake property.

This geophysical survey will consist of a minimum of 2,830 line
kilometres to be flown at 100-metre line spacing. The VTEM survey is
considered one of the airborne survey industry's best deep-penetrating
electromagnetic and magnetic systems. The VTEM airborne magnetic and
electromagnetic survey has been successful in outlining structures,
favourable geology, zones of conductivity, magnetic zones and zones of
alteration, some of which are coincident with areas of known
mineralization. This survey was very useful in advancing some of the
known targets in the area to the drill-ready stage.

A Geological Survey of Canada open file report (Lucas 1993) illustrates
that the prolific Flin Flon green stone belt extends south under the
limestone directly on to the 196,000 acre Reed Lake property. The
proposed VTEM survey program is designed using the open file report and
is expected to start early in the new year, immediately following their
work for VMS Ventures.

The Company has a 50% interest in the Reed Lake property, which is
adjacent to the VMS Ventures discovery in the Flin Flon district of
Manitoba. The Flin Flon Green Stone Belt has had twenty-seven
significant mineral deposits discovered in the area over the past 75
years including the recent 777 Mine and the Lalor Lake deposit.

Company director, Graeme Sewell, stated "This prospect is clearly the
key to Canasia's growth going forward and management is extremely
pleased that Geotech has been engaged. The VTEM is a proven new
technology that will pin point the highest priority drill targets.
These drill targets are expected to fall within the greenstone belt
that extends south under the limestone into our property which was
verified by the VMS Ventures recent discovery hole. This prospect is
in a prime location that has historically produced multiple
discoveries. Couple this location with the fact that Canasia has
secured a substantial land package of over 196,000 acres, it is clear
that 2008 will be an exciting period for Canasia's management and
shareholders. "

The technical information and program for the Reed Lake property has
been reviewed by Derrick Strickland P.Geo., the qualified person for
this project.

If you would like to be added to Canasia's news distribution list,
please send you email address to info@canasiaind.com.

Contact Information
Tel: (778) 328-8848
Fax:(604) 689-1733
www.canasiaind.com
info@canasiaind.com

"Graeme Sewell"
Director
Canasia Industries Corporation

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.

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Copyright (c) 2007 CANASIA INDUSTRIES CORPORATION (CAJ) All rights
reserved. For more information visit our website at
http://www.canasiaind.com/ or send mailto:info@canasiaind.com
Message sent on Mon Dec 10, 2007 at 9:42:11 AM Pacific Time
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