Vancouver, Canada, October 29th 2010 — CanAlaska Uranium Ltd. (CVV — TSX.V) (the “Company” or “CanAlaska”) is pleased be able to provide its recently commissioned NI 43-101 technical summary report for the Fond Du Lac uranium project in the Athabasca Basin, Canada. This report is now available on SEDAR and EDGAR databases for public viewing.
The Fond Du Lac NI 43-101 report was prepared by Mr. Ron Parent, P. Geo, Principal Geologist with AMEC Americas Limited, Vancouver. In the report, Mr. Parent describes the historical sandstone-hosted uranium deposit, and CanAlaska’s recent discovery of shallow basement-hosted uranium mineralization adjacent to this known mineralization. Additional areas on the property display potential for hosting basement and sandstone-hosted uranium mineralization. Mr. Parent’s review recommends a two-stage program of exploration, consisting of drilling and investigation at an estimated budget of Cdn$2.87 Mil.
President Peter Dasler states: “The Fond Du Lac Project hosts a number of areas with potential for uranium mineralization. The historical sandstone-hosted deposit is located within forty metres (130 ft) of surface, and the recently-discovered basement-hosted mineralization occupies a brecciated feeder type system, which is expected to extend to depth and along strike. The basement mineralization is also very near surface, and able to be tested systematically with short drill holes during the coming 2011 winter season and continuing into the summer.”
Peter Dasler, M.Sc., P Geo. is the Qualified Person responsible for this news release.
To view the NI 43-101 report please click HERE.
About CanAlaska Uranium
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$65 million exploring its properties and has delineated multiple uranium targets.
For more information visit www.canalaska.com
On behalf of the Board of Directors
Peter Dasler, P. Geo., President & CEO
Emil Fung, Director & V.P. – Corp. Dev.
The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release: CUSIP# 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.