$10 million exploration update from CanAlaska's AGM



    VANCOUVER, Sept. 29 /CNW/ - CanAlaska Uranium Ltd. (TSX.V - CVV)
("CanAlaska" or the "Company"), at its recent Annual General meeting, received
strong support for the re-appointment of the Company's nominated Officers and
Directors: President and Director Peter Dasler, Directors, Ambassador Thomas
Graham Jr., Emil Fung, VP Corporate Development, Hubert Marleau, Jean Luc Roy,
and Victor Fern, (see website
    http://www.canalaska.com/s/AboutUs.asp?ReportID=31282 for director
profiles).
    Shareholders were also presented with a review of the current exploration
carried out by the Company during the first three quarters of 2008. The
Company undertook over $10 million of exploration in this period, $6 million
of which was financed through joint venture partnerships. Utilizing its highly
experienced exploration staff CanAlaska was able to advance its efforts
towards discovery of uranium deposits across the entire Athabasca Basin. Over
10,000 man-days of work has been carried out by our crews and contractors in
2008. The most active summer projects are detailed below:

    Fond du Lac Project:

    Airborne EM and magnetometer surveys, previously performed over the Fond
du Lac Reserve, were followed up this summer with surface drilling. The
detailed results from partial assays were released on Sept 15, 2008 (see news
release), but assuming zero values for several non-assayed intervals, the
following are minimum values returned, over drillhole interval (true width is
not known at this stage):

    
    -------------------------------------------------------------------------
    Hole          From        To       Length    Percent    pounds/short ton
    Number      (metres)   (metres)   (metres)   U(3)O(8)       U(3)O(8)
    -------------------------------------------------------------------------
    FCL 002       16.80      47.36      25.21     0.077%      1.54 lb/ton
    -------------------------------------------------------------------------
    FCL 003       18.10      44.93      26.83     0.123%      2.46 lb/ton
    -------------------------------------------------------------------------
    

    Poplar Project:

    Extensive seismic surveys on the lake covered portion of the property,
along with lake bottom sediment sampling and the earlier detailed high
resolution airborne EM-magnetometer survey, have provided detailed information
for resolution of the main structural features and sandstone irregularities.
Surface prospecting and sampling have provided strong evidence of zones of
uranium mineralization on the project. Following consultation with partner
Mega Uranium, further exploration of identified targets is planned.

    Black Lake Project:

    Prospecting work and sampling on the Black Lake Reserve concluded in the
past week, and samples have now been shipped for laboratory analyses. A ground
geophysical program is currently being co-ordinated to further define the
zones of interest from the summer work on the main airborne targets. There is
known uranium mineralization, reported by other explorers, in new discoveries,
within metres of the Reserve boundary, as well as historical uranium mines on
Reserve land. Geophysical results will be used to refine targets, which are
expected to lie at shallow depths. The Athabasca unconformity goes from
surface to a maximum depth of approx 250 metres across the Reserve lands.

    http://www.canalaska.com/i/maps/Map_attachment_092908CVV.jpg

    Cree East Project:

    Two drill programs, starting this past winter, and carrying-on into
August and September, have intersected major zones of clay alteration and
mineralization generally associated with the unconformity-style mineralization
in the Athabasca. Current drill samples are undergoing analyses, and will be
available over the coming months. During the next month, the Company is
compiling information for a further extensive drill program commencing in
early 2009. The joint venture budget for Winter 2009 exploration will be
confirmed with the Korean Consortium partners by the end of this year.

    West McArthur Project:

    In 2007, the Company carried out drilling on three significant zones
located within the project area. The encouragement from trace uranium stringer
mineralization associated with clay alteration, fracturing and silicification,
prompted a detailed review. New geophysical fieldwork was performed during
winter 2008 in order to pinpoint targets. The extensive data collected from
these surveys has provided the Company strong support to propose extensive
drill programs for the 2009 year, investigating targets zones near existing
drill holes as well as newly-identified targets. Confirmation of exploration
budgets for Winter, 2009 drilling is expected by December, 2008.
    Emil Fung, Vice President - Corporate Development, summarized the results
from the Company's summer exploration as a launching pad for more aggressive
exploration in the upcoming winter season. "There is now a genuine sense of
excitement between ourselves and our strategic exploration partners that we
are on the cusp of making significant discovery breakthroughs. Despite the
worsening financial market environment, CanAlaska stands in a
highly-privileged position by virtue of being able to pursue continuing
exploration with solid financial backing from motivated strategic partners."
    In other business of the annual general meeting, disinterested
shareholders approved a resolution to increase the number of shares issuable
under the Company's Stock Option Plan to a maximum of 27,500,000.

    Peter Dasler, M.Sc. P Geo. is the qualified technical person responsible
for this news release.

    About CanAlaska Uranium Ltd. -- www.canalaska.com

    CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF -- OTCBB, DH7 -- Frankfurt)
is undertaking uranium exploration in nineteen 100%-owned and two optioned
uranium projects in Canada's Athabasca Basin. 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$45 million exploring its properties
and has delineated multiple uranium targets. The Company's geological
expertise and high exploration profile has attracted the attention of major
international strategic partners. Among others, Mitsubishi Development Pty., a
subsidiary of Japanese conglomerate Mitsubishi Corporation, has undertaken to
provide CanAlaska C$11 mil. in exploration funding for its West McArthur
Project. Exploration of CanAlaska's Cree East Project is also progressing
under a C$19 mil. joint venture with a consortium of Korean companies led by
Hanwha Corporation, and comprising Korea Electric Power Corp., Korea Resources
Corp. and SK Energy Co, Ltd.

    
    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: CUSIPNo. 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.





For further information:

For further information: Emil Fung, Vice President, Corp. Dev., Tel:
(604) 688-3211, Email: info@canalaska.com

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CanAlaska Uranium Ltd.

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