Coal

[oasdihf]

Canasia Submits Coal Permits in East Central Saskatchewan
03:08 EDT Friday, May 02, 2008

Trading Symbols:
CAJ-Canada
45C-Germany
CANSF-USA

VANCOUVER, May 2 /CNW/ - Canasia Industries Corporation ("Canasia") wishes to announce that it has made coal permit applications encompassing four townships (approximately 92,000 acres) in east central Saskatchewan. The granting of any of these permits is expected to be determined at a date in the future according to the Government of Saskatchewan representatives that company officials have been speaking with. There are no guarantees that any of these proposed permits will be awarded to Canasia. A news announcement regarding these permits will be released upon receipt of the Government of Saskatchewan's permitting process.

Graeme Sewell, a director of Canasia stated, "If we are successful on these permits that would add another dimension to Canasia's growth plan. The coal sector within East Central Saskatchewan has been quite active recently, and management believes having an opportunity to potentially acquire permits in the area fits into the corporate strategy of maximizing shareholder value by the acquisition of significant land positions. When you factor in that Canasia is expecting the VTEM results on the Snow Lake prospect back any day and news on our Potash claims shortly, clearly it is a busy time of corporate activity for Canasia."

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"Graeme Sewell"

Director

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

release.


For further information: Tel: [phone], Fax: [phone], www.canasiaind.com, [e-mail]