Canasia begins work program on Jumbo Gold Property in B.C.

    Trading Symbols:

    VANCOUVER, Nov. 13 /CNW/ - Canasia Industries Corporation (the "Company")
is pleased to announce that it has implemented the first phase of the work
program on the Jumbo Gold Prospect, as recommended by B.J. Price Geological
Consultants Inc., Barry James Price, M.Sc., P.Geo., Consulting Geologist. A
copy of this 43-101 compliant report was SEDAR filed on August 28, 2007.
    The recommended program will consist of clearing the old cat-roads and to
re-cut the baseline and establish a new grid. Further, it includes undertaking
a Geochemical sampling program and rock sample reconnaissance sample program
and/or an IP Survey and magnetometer survey.
    The end result of this program will allow the Company to apply to the
Ministry of Energy, Mines and Petroleum Resources, Mining and Mineral Division
for a disturbance and reclamation permit to allow the Company to initiate a
diamond drill program and trenching program based upon successful results of
the first phase work programs over the already known mineralized areas of
    The Jumbo property is centered approximately 14 kilometers northeast of
the town of Slocan, in the prolific Slocan Mining Division of SW British
Columbia. The Jumbo property's elevation ranges from 4,300 feet (1,310 meters)
to 6,600 feet (2,012 meters). The property is accessible via a single paved
road and a series of logging roads, which give ready access to various parts
of the claims. In 1981, soon after the Jumbo Property was first discovered,
two truck loads of ore were shipped for analysis. The first load went
0.368 oz/T gold, 6.25 oz/T silver and 3.8% lead. The second load went
0.412 oz/T gold, 7.1 oz/T silver and 4% lead. The Nelson batholith near the
property consists mainly of porphyritic granite, with lesser amounts of
granodiorite, quartz diorite, quartz monzonite, diorite, monzonite and
syenite. The economic mineralization on the Jumbo property consists of galena,
sphalerite, chalcopyrite and gold in the form of electrum associated with
carbonate/quartz epithermal veins. The mineralization tends to be concentrated
in high grade "pods" which have developed when the mineralizing solutions
reached the appropriate confining pressure to deposit them. The property, to
date, has produced approximately 45 short dry tons of ore with economic
quantities of gold and silver making it an extremely attractive target for an
active diamond drill program.
    Graeme Sewell, a director of the Company stated, "We are very pleased to
be working simultaneously on two potentially financially rewarding properties.
Both the Jumbo property and the Reed Lake properties offer us easy access and
a very stable environment to conduct our exploration programs. We feel that
these properties meet the criteria to provide shareholders with immediate

    "Graeme Sewell"
    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; (11) the failure of the
Letter of Intent or Letter Agreement to close for any reason; and (12) the
ability of the Company to acquire the services of contract trades to perform
work programs in a timely manner. 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

For further information:

For further information: Tel: (778) 328-8848, Fax: (604) 689-1733,,

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