Canasia Hires Prominent European Investor Relations Firm

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    VANCOUVER, Nov. 5 /CNW/ - Canasia Industries Corporation (the "Company")
wishes to announce that it has entered into an investor relations contract
with Der Goldreport Ltd. of Germany. Der Goldreport will facilitate investor
awareness throughout Europe focusing on private and institutional investors.
Der Goldreport has created successful marketing campaigns for many other
Canadian companies.
    The investor relations agreement commenced November 1, 2007. The term of
the contract is for six months. Total consideration for the services will be
20,000 Euros as well as granting Der Goldreport 150,000 incentive stock
options at $0.35, pursuant to the 2007 Rolling Stock Option Plan, these
options are good for one year but terminate upon termination of the agreement.
This investor relations agreement is subject to exchange approval.
    Graeme Sewell, a director of the Company stated, "Having an investor
relations firm of Der Goldreport's experience working with Canasia is a very
important step towards reaching European private and institutional investors.
There have been numerous examples of the growth that junior companies have
achieved by increasing their exposure to European investors. As we anticipate
having multiple drill programs occurring simultaneously, management feels that
this is an opportune time to commence a European investor relations campaign."
    The Company has also granted, pursuant to its 2007 rolling stock option
plan, 100,000 incentive options to a consultant at an exercise price of
$0.35 per share for five years which terminate upon termination of the
consulting agreement. These shares are subject to a hold period expiring
March 6, 2008.
    If you would like to be added to Canasia's news distribution list, please
send your email address to

    "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; and (11) the failure of the
Letter Agreement to close for any reason,(12) the failure of the Company to
contract companies to perform the required work on the properties 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

    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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