CANALASKA URANIUM LTD

Uranium exploration in twenty-one uranium projects in Canada's Athabasca Basin

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Message: CanAlaska commences winter drilling program at the Cree East project

CanAlaska commences winter drilling program at the Cree East project

posted on Jan 27, 2010 11:38AM

CanAlaska Uranium commences winter drilling program at the Cree East project

	    VANCOUVER, Jan. 27 /CNW/ - CanAlaska Uranium Ltd. (TSX.V - CVV)
("CanAlaska" or the "Company") is pleased to announce that the Company has
commenced exploration on its Cree East uranium project in the Athabasca Basin,
Saskatchewan, Canada (http://www.canalaska.com/s/News.asp?ReportID=382246).
	    The Cree East project is funded under a joint venture with the Company's
Korean strategic partners, comprising Hanwha Corporation, Korea Electric Power
Corp., Korea Resources Corp. and SK Energy Co, Ltd. The Company recently
received Cdn$4.12 million in funding from the Korean Consortium to support
2010 exploration. The Korean Consortium presently holds a 40.6% ownership
interest in the partnership, having contributed a total of Cdn$12.6 million in
investment funding.
	    The 2010 uranium exploration program at Cree East is currently budgeted
at $5.8M, testing 5 targets with approximately 32 drill holes across a
prolonged, 2010 Winter-Summer drill campaign. The Company is very pleased to
report that a drill contract has been signed with DJ Drilling (2004) Ltd. for
a planned 6,800 metre winter drill program, and a further 6,800 metre program
in summer 2010.
	    The first stage of this extensive drill program has now commenced.
Previous geophysical modelling and initial drill tests have outlined four
zones (Zones A-D) of uranium mineralization and hydrothermally-altered rocks
associated with major basement offsets along a 4 km mineralizing trend.
Drill-hole spacing in the target areas from previous drilling in 2008 and
early 2009 is from between 100 to 200 metres. Most of the 2010 targets are
located between existing holes, or are short step-outs from existing holes.
The new drilling will attempt to cross-cut the fault and alteration modelled
by the existing holes, geology and geophysics.
	    Additional targets on the Cree East project have been defined following
intensive airborne and ground geophysical work over summer 2009. At Zones G, H
and I, there appear to be further areas of extensive hydrothermal alteration.
Correlation of the current surveys with anomalous uranium and alteration in
six historical holes dating from 1981 (two fences of three holes at Zone G),
shows the strong potential for additional structurally-controlled uranium
mineralization in the basement, and possible significant enrichment at the
unconformity.

	    <<
	    Outlook
	    -------
	    >>

	    Despite the continuing uncertainties in the economy, the Company is
pleased to be engaging in one of the most aggressive seasons of uranium
exploration in its history. CanAlaska continues to distinguish itself among
the Canadian uranium exploration community in maintaining highly complementary
strengths in both technical operations and financial acuity. The Company is
able to commit to the aggressive exploration program outlined above based on
its strong internal treasury, which presently totals over $12 mil., and the
financial support it receives from its strongly-capitalized strategic
partners, both domestic and international.
	    The Qualified Technical Person for this news release is Mr. Peter G.
Dasler, P.Geo.

	    About CanAlaska Uranium Ltd. -- www.canalaska.com

	    CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF -- OTCBB, DH7 -- Frankfurt)
is undertaking uranium exploration in twenty 100%-owned and three optioned
uranium projects in Canada's Athabasca Basin -- the "Saudi Arabia of Uranium".
Since September 2004, the Company has aggressively acquired one of the largest
land positions in the region, comprising over 2,500,000 acres (10,117 sq. km
or 3,906 sq. miles). To-date, CanAlaska has expended over Cdn$60 million
exploring its properties and has delineated multiple uranium targets.
	    CanAlaska's geological expertise and high exploration profile has
attracted the attention of major international strategic partners. Among
others, Japanese conglomerate Mitsubishi Corporation has undertaken to provide
the Company C$11 mil. in exploration funding to earn a 50% ownership interest
in the West McArthur Project. Exploration of CanAlaska's Cree East Project is
also progressing under a C$19 mil. joint venture with a consortium of Korean
companies led by Hanwha Corporation, and comprising Korea Electric Power
Corp., Korea Resources Corp. and SK Energy Co, Ltd., in which the Korean
Consortium presently holds a 40.6% ownership interest. Other Company projects
in the Athabasca Basin scheduled for drill testing during this Winter 2010
season include McTavish, Collins Bay Extension and Fond Du Lac.

	    <<
	    On behalf of the Board of Directors,

	    (signed)

	    Peter Dasler, M.Sc., P.Geo.
	    President & CEO, CanAlaska Uranium Ltd.
	    >>

	    The TSX Venture has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release: CUSIPNo. 13708P 10 2. This news
release contains certain "Forward-Looking Statements" within the meaning of
Section 21E of the United States Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical fact, included herein are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time to time with the British Columbia Securities
Commission and the United States Securities & Exchange Commission.






-30-
	    /For further information: Emil Fung, Director & V.P. - Corp. Dev., Tel:
(604) 688-3211, Email: [email protected]/
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