Toronto Stock Exchange (TSX): CVV
VANCOUVER, Nov. 1, 2013 /CNW/ - CanAlaska Uranium Ltd. (TSX: CVV) ("CanAlaska" or the "Company") is pleased to announce the filing on
SEDAR of its latest NI43-101 report for the Cree East Project. The
report details the programs of work funded by the Korean Consortium
partners, Hanwha, KORES, KEPCO and SK, and the multiple zones of
uranium mineralization recognised from the first and second pass drill
programs. The Korean Consortium has now agreed on continued work on
the property in 2014.
The report is the eighth NI43-101 report filed for CanAlaska's
properties in the Athabasca region. The current report and the
previous reports can all be accessed from the bottom of the relevant
project pages on the CanAlaska website www.canalaska.com. These reports support CanAlaska's current TSX listing, and will
support CanAlaska's pending application to list on the TSX-V in
December 2013, should this be necessary due to TSX-V listing policies.
At the current time CanAlaska's capitalization is below the minimum
market capitalization requirement of the TSX, and notice has been given
for delisting from that exchange on December 2, 2013.
CanAlaska management, for the past year, has minimised the Corporate
expenditures to maintain a minimum 12 month cash operating position.
During this time the Company has entered into multiple NDA agreements
with third parties for the evaluation and possible option or sale of
non-core projects. In September the Company announced two Option
agreements for a total of $13M of exploration work on the Patterson
Lake and NW Manitoba Uranium properties. Additional property reviews
and evaluations are currently underway by third parties. These
agreements provide for immediate project work and substantial share
payments to CanAlaska.
A first phase of work has been completed on the NW Manitoba property,
under the option agreement with MPVC Inc., and work is planned for the
Patterson property by Makena. The approval by the Korean Consortium
for additional work on the Cree East property in 2014 is a significant
event for the Company.
Shareholders and investors can review detailed information on all the
Company's 18 uranium projects and joint ventures on the Company's
website at www.canalaska.com.
Peter Dasler, M.Sc., P Geo. is the qualified person responsible for this
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX, CVVUF -- OTCBB, DH7F -- Frankfurt) has undertaken uranium exploration on multiple uranium projects in
Canada's Athabasca Basin -- the "Saudi Arabia of Uranium" since 2005.
The Company has major international partners for its West McArthur and
Cree East properties, and is concentrating its activities on these
For more information, visit www.canalaska.com
On behalf of the Board of Directors
Peter Dasler, M.Sc., P.Geo., President & CEO,
CanAlaska Uranium Ltd.
The TSX 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
SOURCE: CanAlaska Uranium Ltd.
For further information:
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318