Vancouver, British Columbia, April 5, 2016 — CanAlaska Uranium Ltd. “the Company” (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) “the Company” is pleased to report that the exploration team from Denison Mines Corp. (“Denison”) (TSX: DML, NYSE MKT: DNN) has reported intersecting 2200 cps radioactivity at the unconformity in the first drill hole on the Moon South property. The elevated radioactivity corresponds to a 0.5 metre section of 0.102% U3O8 assayed in core recovered from the drill hole at that location. Additional drilling is now being planned.
This first drill hole was designed to test a conductive trend mapped by a DC resistivity survey. The drill site is located within a prominent magnetic low, which is thought to represent the location of major cross structures. There is elevated uranium mineralization averaging over 1ppm U3O8 for 30 metres above the intersection, with further elevated uranium mineralization up to 1.2ppm for 200 metres above the unconformity. Moderately graphitic pelites were intersected in the basement. A graphitic fault and a clay altered breccia were observed in this unit.
The drill intersection confirms basement fluid flow containing elevated base metals and uranium mineralization.
President Peter Dasler commented, “Denison’s exploration team have found a very interesting new target, in an area of the Athabasca Basin known to have excellent potential for uranium mineralization in the past. This initial drill success now gives a robust target for further exploration.”
The qualified technical person for this news release is Dr Karl Schimann, P. Geo, VP Exploration, for CanAlaska.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests in approximately 700,000 hectares (1.7 million acres), one of the largest land positions in Canada’s Athabasca Basin region — the “Saudi Arabia of Uranium”. CanAlaska’s strategic holdings has attracted major international mining companies Cameco, KORES and KEPCO as partners at its core projects. CanAlaska is a Project Generator and is positioned for discovery success in the world’s richest uranium district. For further information, visit www.canalaska.com.
About Cameco Corporation
Further information on Cameco can be found at www.cameco.com
On behalf of the Board of Directors
Peter Dasler, P. Geo., President & CEO
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release: CUSIP# 13708P 10 2.