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

CanAlaska Uranium Ltd. Profile

CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF -- OTCBB, DH7 -- Frankfurt) is undertaking uranium exploration in twenty-one 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 (approx. 10,000 sq. km or 4,000 sq. miles). To-date, CanAlaska has expended over Cdn$70 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 is a 50% joint venture partner in the West McArthur Project and has provided the Company with over Cdn$12.5 mil. in exploration funding. Exploration of CanAlaska's Cree East Project is also progressing under a Cdn$19 mil. joint venture with a consortium of Korean companies led by Hanwha Corp., and comprising Korea Electric Power Corp., Korea Resources Corp. and SK Energy Co., Ltd. Exploration commenced in 2009 with Chinese mining partner East Resources Inc. on the Poplar Project, comprising a potential 100,000 metres of drill testing. Canadian explorer Kodiak Exploration has recently optioned the Company's McTavish Project to advance exploration with the goal of attaining a 60% project interest earn-in by delineating a minimum of 35 million pounds U3O8. CanAlaska has also pioneered collaboration in uranium exploration with Canada's native First Nations. At its Fond Du Lac Project, the Company is a 50% partner with the Fond Du Lac Denesuline First Nation, undertaking exploration on the community's Reserve Lands where the Company believes there exists significant potential to increase the size of an existing 1 million pound historical uranium resource. .

Last changed at 08-Nov-2010 10:16AM by Ahlan