CanAlaska Closes $5,000,000 Private Placement



    VANCOUVER, March 6 /CNW/ - CanAlaska Uranium Ltd. (CVV - TSX.V) (the
"Company") announces that further to its news release dated January 25, 2007,
the Company has completed its non-brokered private placement and has issued
6,944,444 units for gross proceeds of $5,000,000. Each unit consisted of one
common share in the capital of the Company at a price of $0.72 and one half of
one non-transferable share purchase warrant. Each whole warrant entitles the
holder to purchase one additional common share at a price of $0.93 for a
period of twelve months from the date of closing.
    In connection with this closing, the Company has paid an aggregate of
$136,897.88 and has issued 28,333 common shares and 44,875 share purchase
warrants as finder's fee. Each whole warrant entitles the holder to purchase
one additional common share of the Company for a period of twelve months from
the date of closing at a price of $0.93 per warrant share.
    In compliance with Canadian securities law, all of the securities issued
in connection with this private placement are subject to a hold period
expiring on July 7, 2007.

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

    CanAlaska Uranium (CVV -- TSX.V, CVVUF -- OTCBB, DH7 -- Frankfurt) is
undertaking uranium exploration in seventeen 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). In
2005/2006, CanAlaska expended over Cdn$15 million exploring its properties in
the Athabasca Basin and has delineated multiple uranium targets. Initial
drilling from the West McArthur Project (now under an earn-in option to be
formalized with Mitsubishi Development Pty. Ltd.) revealed uranium
mineralization and significant zones of hydrothermal alteration, indicative of
a favorable environment for uranium deposition. Active drilling and
exploration will continue in Winter, 2007 at West McArthur and at 4 other
significant projects.

    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 No. 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: Investor Contact: Emil Fung, Vice President,
Corp. Dev., Tel: (604) 685-1870, Toll Free: 1-800-667-1870 (N. America),
info@canalaska.com

Organization Profile

CanAlaska Uranium Ltd.

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