Canasia Acquires Option on more than 450,000 Contiguous Acres of Potash Claims

VANCOUVER, Feb. 25, 2008 - Canasia Industries Corporation (the "Company") wishes to announce that, subject to regulatory approval, it has 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, located within east-central Alberta, along the Saskatchewan-Alberta border. These permit applications, which the Company anticipates will be granted shortly, encompass approximately 450,000 acres of lands prospective for potash.

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The Eyehill Creek Potash Property is underlain at depth by the Prairie Evaporite Formation, the uppermost unit of the Elk Point Group. The Prairie Evaporite Formation occurs extensively across the plains region of western Canada, where individual potash beds can be up to seven meters thick.

The Potash-bearing beds of the Prairie Evaporite Formation are shown to project into the Eyehill Creek Property by Hamilton (1971), while Hamilton and Olson (1994) document a Potash Showing on the property. Most of the recorded Potash Exploration in Alberta occurred between 1965 and 1968. The Company believes that there is potential for the discovery of significant Potash occurences within the Eyehill Creek Property. Currently, there is no NI43-101 report on this property, nor are there proven, indicated or inferred resources. The Company plans to initiate a compilation of all historic exploration data for the area, and the completion of a NI43-101 report.

Potash is a general term covering several types of potassium salts, of which the most important is potassium chloride, the mineral sylvite. Potash is a nutrient essential for plant growth, and is a cornerstone of modern agricultural fertilizers. Roughly 95 per cent of world potash production goes into fertilizer, while the other five per cent is used in commercial and industrial products - everything from soap to television tubes. According to an article in the Financial Post published Wednesday, February 20, 2008, "Driving potash prices will be strong demand -- particularly from countries outside of China, which is currently negotiating contracts -- in a time of historically low inventory levels, the strategists say. North American producer inventories are 37% below the five-year historical average, and about 50% lower than in 2006."

Graeme Sewell, a director of the Company stated, "This prospect holds a tremendous opportunity for Canasia to branch out its mining operations into potash, a commodity which is in high demand at this time. Once final permits are received a work program will be initiated with the hopes to ultimately put a mine into production. When you consider that currently there are only a few publicly traded Potash companies, the majority of these trading with market caps over 100 million dollars, we feel that this new prospect has the possibility to create significant shareholder value if it is shown to contain an economic potash deposit."

Terms of the acquisition with the arms-length vendor are as follows:

1. Cash payment of $35,000 upon execution of the Option Agreement;
2. A further cash payment of $89,998 after receipt of the MAIM Permits;
3. On acceptance by the TSX Venture Exchange and receipt of the metallic and industrial minerals issuance of 500,000 common shares of the Company;
4. One year from the date of the Agreement the issuance of 500,000 common shares of the Company;
5. Two years from the date of the Agreement the issuance of 500,000 common shares of the Company; and
6. The property is subject to a 2% NSR Royalty.

Jody Dahrouge P.Geol., a qualified person, has reviewed the information pertinent to the Eyehill Potash Property contained herein.

The Company wishes to further announce that it will be attending the PDAC March 2nd and 3rd. According to the PDAC's website, "The PDAC International Convention, Trade Show and Investors Exchange is the most important event in the world of exploration, bringing together over 18,000 attendees from all over the globe." Canasia's management extends an invitation to all shareholders and prospective shareholders to meet Canasia representatives at the show.

If you would like to be added to Canasia's news distribution list, please send your email address to info(at)canasiaind.com.

"Graeme Sewell"
Director
Canasia Industries Corporation

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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; 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.

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For more information contact :

Tel: (778) 328-8848, Fax:(604) 689-1733, www.canasiaind.com, Email : info@canasiaind.com

Source: Canasia Industries Corporation

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