CanAsia Industries Corporation

TSX VENTURE: CAJ
PINK SHEETS: CANSF
FRANKFURT: 45C
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 13, 2008) - Canasia Industries Corporation (TSX VENTURE:CAJ) (OTCBB:CANSF) (FRANKFURT:45C) ("Canasia") wishes to update shareholders in terms of the Eyehill Creek Potash Property acquisition announced February 25, 2008. Canasia 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 consisting of approximately 450,000 acres, located within east-central Alberta, along the Saskatchewan-Alberta border. These permit applications have been submitted already and Canasia expects that these applications will be completed shortly.

In other corporate matters, recently Canasia submitted coal permit applications encompassing four townships (approximately 92,000 acres) in east central Saskatchewan in the same region as Goldsource Mines Inc.'s new potential coal discover. According to the Government of Saskatchewan representatives that Canasia officials have been in contact with, granting of any of these permits is expected to be determined at a date in the future. There are no guarantees that any of these proposed permits will be awarded to Canasia. Canasia is looking into potentially adding to these coal positions in the future.

Graeme Sewell, a director of Canasia stated, "At this time Canasia has a diversified portfolio of exciting prospects. Management expects to be able to start up work programs shortly to explore the economic possibilities of these prospects."

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