Monday, September 14, 2009

Canadian Stock Research - Canasia Industries Corporation

Canadian Stock Research News Update:

"Kinross Now Drilling on Canasia's Debut Gold Prospect in Nevada"

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2009) - Canasia Industries Corporation (TSX VENTURE:CAJ)(FRANKFURT:45C)(OTCBB:CANSF) ("Canasia") is pleased to announce that it has been notified by Kinross Gold USA ("Kinross"), which has a mineral lease agreement with Canasia on the Debut prospect (announced on September 9, 2008), that drilling is now underway and as of last report 6 of a proposed 17 hole drill program has now been completed. Drilling is expected to take approximately six to eight weeks. The agreement between Kinross and Canasia requires Kinross to spend a minimum of $3-million (U.S.) in exploration.

Graeme Sewell, a director of Canasia stated, "Management is very pleased to now have a NYSE listed gold company drilling on one of our properties. To have a company of Kinross' stature working with Canasia is a significant milestone for us. Management is proud that Kinross approached us to work together on this prospect. Not only do we now have this gold prospect with a major underway, but our Clone Prospect, that displayed visible gold, is also moving forward with drill results expected shortly. With gold prices now over $1,000 USD per ounce, clearly this is an exciting time to be active on multiple gold prospects."

Canadian Stock Research news update comes courtesy of StockResearchPortal. To view the complete version of this news release visit Stock Research Portal