VANCOUVER, March 16 /PRNewswire/ - CanAlaska
Uranium Ltd. (TSX.V - CVV) ("CanAlaska" or the "Company")
is pleased to announce that it has commenced diamond drilling at
the main Fond Du Lac ("FDL") project. This phase of the drill
program will test one of the new targets identified by the ongoing
reverse circulation drill program. CanAlaska is currently
well-funded, with over Cdn$13 million in treasury, and strong
partnerships.
The FDL project is a joint venture between the
Company and the Fond Du Lac Denesuline First Nation. The reverse
circulation drill, which has been working in the area for the past
three weeks, has identified a number of zones with strong
hematization both above and below the unconformity. Several
of these zones have associated elevated radiometric background as
well as clay-filled shear zones.
The diamond drill currently on-site, will carry
out a preliminary program testing near surface targets until March
25th. It will then mobilize to carry out approximately 3
weeks of drilling on a nearby project, also being operated by
CanAlaska.
The drill will return to Fond Du Lac in April to
test further new targets and mineralization associated with the
reverse circulation drill program, and CanAlaska's previous (2009)
intersection of 40.4 metres at 0.32%
U3O8 located in
basement rocks, just east of the historically-defined shallow Fond
Du Lac uranium deposit. (See NR Sept 22, 2009, and NI43-101 report
of Oct 29, 2010).
President of CanAlaska, Peter Dasler, P. Geo, is
the Qualified Person responsible for this news release and comments
that "the tragedies of multiple world-wide and personal disasters
make us humble and appreciate the strength and character of the
people who are around us, and especially those who support us on a
day-to day-basis. We must continue, and do the best job we can do,
to support them." The referenced news releases and technical report
can be accessed on the Company's website at www.canalaska.com or
downloaded from the Canadian public filings database at
www.sedar.com.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUD
-- OTCBB, DH7F -- 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 (10,117 sq. km or 3,906 sq.
miles). To-date, CanAlaska has expended over Cdn$75 million
exploring its properties and has delineated multiple uranium
targets.
For more information visit www.canalaska.com
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:
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.
SOURCE CanAlaska Uranium Ltd.