Vancouver, Canada, November 10, 2010
CanAlaska is pleased be able to provide its recently commissioned NI 43-101 technical summary report for the Waterbury Uranium Project in the Athabasca Basin, Canada. This report is now available on SEDAR and EDGAR databases for public viewing.
The Waterbury 43-101 report was prepared by Mr. Peter Daubeny M.Sc., P.Geo. of Vancouver BC. In the report, Mr. Daubeny provides a detailed description of CanAlaska’s exploration on the project, its strategic location in the Cigar Lake-McLean lake area in the Northeastern Athabasca. Mr. Daubeny’s review recommends a program of drilling on three target areas, at an estimated budget of Cdn$1.55 Mil.
President Peter Dasler states: “The Waterbury Project hosts a number of areas with potential for uranium mineralization, well located, and in the vicinity of known mines. Limited work was carried out historically because of the older limitations to imaging conductive targets under local lakes and swamps. The initial surveys carried by CanAlaska, using modern equipment and ideas showed well defined targets on land and under lakes. Initial drill testing of the land targets showed elevated uranium mineralization within the target zones, which can still stand further definition drilling along strike and across trend. The strongest target located just north of the Cigar Lake mine, is associated with an E-W bend in the magnetic trend, and in the associated conductor target. This target is covered by water and on two previous occasions was not drilled only because of logistical reasons.”
To view the 43-101 report please click HERE.
Peter Dasler, M.Sc., P Geo. is the Qualified Person responsible for this news release.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV — TSX.V, CVVUD — 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$70 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.
Email: [email protected]
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.