CanAlaska closes additional tranche of private placement



    VANCOUVER, Aug. 21 /CNW/ - CanAlaska Uranium Ltd. (TSX.V - CVV, OTCBB -
CVVUF, Frankfurt - DH7) ("CanAlaska" or the "Company") is pleased to announce
that it has closed an additional tranche of its non-brokered private placement
previously announced in its news release of July 23, 2009
(http://www.canalaska.com/s/News.asp?ReportID=356843), and has issued an
additional 1,145,000 units at $0.17/unit ("Unit") for gross proceeds of
$240,550.
    In connection with this closing, the Company has paid a finder's fee
comprising of 5% in cash and an aggregate 57,250 compensation options. Each
compensation option entitles the holder to acquire one Unit at a price of
$0.17/Unit for a period of 24 months.
    All securities issued pursuant to this private placement are subject to a
Canadian hold period expiring December 21st, 2009.

    About CanAlaska Uranium Ltd. - www.canalaska.com

    CANALASKA URANIUM LTD. (CVV - TSX.V, CVVUF - OTCBB, DH7 - Frankfurt) is
undertaking uranium exploration in twenty 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$50 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 Ltd, a subsidiary
of Japanese conglomerate Mitsubishi Corporation, has undertaken to provide
CanAlaska C$10 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. A Memorandum of Understanding has also recently been
executed with mining partner East Resources Inc. to commence exploration on
the Poplar Project comprising a potential 100,000 metres of drill testing. In
addition, Kodiak Exploration has also optioned the McTavish Project to advance
exploration with the goal of attaining a 60% project interest earn-in by
delineating a minimum of 35 million pounds U3O8.

    
    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: Emil Fung, Director & V.P. - Corp. Dev., Tel:
(604) 688-3211, Email: info@canalaska.com

Organization Profile

CanAlaska Uranium Ltd.

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