Relevant
POTASH News:
Mr. Bill
Doyle reports April 16, 2008
POTASHCORP
ANNOUNCES SIGNIFICANT POTASH PRICE INCREASE IN 2008 CANPOTEX, SINOFERT
AGREEMENT
Potash
Corp. of Saskatchewan Inc. (PotashCorp) has learned that Canpotex Ltd., the
offshore marketing company for Saskatchewan potash producers, and Sinofert
Holdings Ltd. (Sinofert), a leading fertilizer enterprise in the People's
Republic of China (PRC), have reached agreement on 2008 potash pricing at $400
(U.S.) per tonne higher than in 2007. As previously reported (see news issued
in Stockwatch), Canpotex has prorated China's 2008 volumes and, as a result of
the timing of this settlement and unprecedented demand in other markets, has
only one million tonnes that it can commit to Sinofert through the remainder of
this year.
"Significantly
higher potash prices and extraordinarily tight supply have become much more
firmly entrenched since China's previous contract was signed 14 months
ago," said PotashCorp president and chief executive officer, Bill Doyle. "With
the intense pressure on global food production and continued growth in potash
demand, this is the reality for our industry for the foreseeable future."
ABOUT
CANASIA
Thank you
for your interest in Canasia Industries Corporation (CAJ-V). I have included
some information on our current projects and most current news releases below.
This is a
very exciting time for Canasia Industries with the recent acquisition of an
option agreement to acquire a 100% interest, in the 450,000 acre Eyehill
Creek POTASH Property, which consists of 20 Metallic and Industrial Minerals
Permit (MAIM) Applications, located along the Saskatchewan-Alberta border.
Canasia
also has a substantial land package of over 196,000 acres at Reed
Lake, Manitoba, less than 3KM from a recent world class copper discovery. A
work program has now been initiated including an active V-TEM airborne survey
and full scale drill program.
CANASIA
INDUSTRIES CORPORATION (CAJ-V) (CANSF-USA)
1205 - 789
West Pender Street
Vancouver B.C. V6C1H2
Tel: 1 877 428 8848
www.canasiaind.com
CURRENT
PROJECTS�
EYEHILL
CREEK POTASH
The
company has signed an option agreement to acquire a 100% interest, in the
Eyehill Creek Potash Property, which consists of 20 Metallic and Industrial
Minerals Permit (MAIM) Applications along the Saskatchewan-Alberta border.
These
permit applications, which the Company anticipates will be granted shortly;
encompass approximately 450,000
acres of lands prospective for potash. Recently, 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 Property 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 occurrences
within 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 compilation of all historic exploration data for
the area, and the completion of a NI43-101 report.
REED LAKE
COPPER
The Reed
Lake mineral claims are located in the Snow Lake District in the province of
Manitoba.
Canasia
Industries Corporation has recently acquired over 196,210 acres of land
at Reed Lake, contiguous to the north, south, and west of VMS Ventures Inc.'s
copper discovery which on October 4, 2007, announced assays of 2.50 metres (8.2
feet) of
15.30% copper, within 10.50
metres (34.4 feet) of 11.19% copper, within 22.25 metres (72.9 feet) of 7.75%
copper, within 43.05
metres (141.2
feet) of
4.38% copper.
The Reed
Lake volcanogenic massive sulphide (VMS) mineralized zone is overlain by
distinctive layers of magnetite and chert. The rocks that underlie and contain
the sulphide are moderately to intensely altered felsic volcanic rocks.
This type of
mineralization is typical of other VMS deposits including those in the prolific
Snow Lake camp and the nearby Spruce Point mine, formerly operated by HUD Bay
Minerals.
Canasia
Industries Corporation's mineral claims at Reed Lake constitute one of the largest
contiguous land packages of any company that is exploring in the region. Making
an acquisition of this significant acreage contiguous to a potential new
discovery is extremely positive for Canasia's management and shareholders. A
work program has now been initiated, including a VTEM survey identical to the
VMS survey, in order to delineate drill targets for an upcoming drill program.
www.canasiaind.com/s/reedlake.asp
www.canasiaind.com/i/pdf/ReedLakeDiscovery.pdf
JUMBO GOLD
The Jumbo
property is centered approximately 14 kilometers
northeast of the town of Slocan, in the prolific Slocan Mining Division of SW
British Columbia.
Canasia
has recently engaged Dynamic Exploration Ltd. to initiate the first phase of
the work program on the Jumbo Gold Prospect. The work program will consist of
both soil and ground geophysical surveys, it is anticipated that up to 600
samples will be taken from the property for analysis. Further, it will include
the clearing of old cat-roads, re-cutting the baseline, and establishing a new
grid.
Permitting
has commenced on the Jumbo Prospect. These permits will allow Canasia�s
geological crew access to the property to perform and I.P. survey and further
mapping and trenching over the company�s JBZ1 and JBZ2 zones of known
mineralization.
The Jumbo
property is a major focus of Canasia industry Corporation�s 2008 exploration
program.
www.canasiaind.com/s/JumboGold.asp
DEBUT GOLD
The Debut
Gold Property is located within the Delker Mining District of NE Nevada and
lies approximately 96 miles
SE of the town of Elko.
The
geologic setting of the Debut is nearly identical to the nearby deposits of
Alligator Ridge Mine (48
miles) and Bald Mountain Mine (38 miles), the later of
which has, to date, reserves of 440,000 oz AU ($272 mill).
Canasia
Industries Corporation entered into an option agreement with Golden Patriot
Corp for the Debut in December, 2006. Terms of the option require Canasia
Industries Corporation to spend $1,000,000 in exploration over the next ten
years to vest a 50% interest in the property
www.canasiaind.com/s/DebutGold.asp
CLONE GOLD
The Clone
property is situated within the densely mineralized belt of NW British Columbia
referred to as both the Eskay Creek/Stewart Region, or the Golden Crescent.
In November
2005 Canasia Industries Corp entered into an option agreement with Teuton
Resources Corp and Silver Grail Resources Corp, the owners of the Clone
Property.
The first
half of Canasia Industries Corporation�s drill program has been completed.
All 7
holes of the 3,240 foot,
2006 drill program cut gold-bearing intercepts, varying in length from 3 to 35.5 feet.
www.canasiaind.com/s/CloneGold.asp