VANCOUVER, June 25 /CNW/ - CanAlaska Uranium Ltd. (TSX.V - CVV)
("CanAlaska" or the "Company") has mobilized 33 field personnel to three
uranium exploration projects on the northern rim of the Athabasca Basin,
Saskatchewan. One of these crews will shortly relocate to commence drill
operations targeting known uranium mineralization located on the Fond du Lac
Denesuline First Nation Reserve Lands.
The Company was informed yesterday of the issuance of a work permit by
INAC (Indian and Northern Affairs Canada), with consent from the band and
council of the Fond du Lac Denesuline First Nation. This permit will allow the
Company to commence exploration on the Reserve lands, and will allow for the
follow-up exploration of specific geophysical targets generated from recent
VTEM airborne surveys. Drilling will initially target the area surrounding the
Fond du Lac uranium deposit, as well as test for structural events and
mineralization below the Athabasca unconformity. In this region, the Athabasca
unconformity is within 50 metres of surface, and uranium mineralization is
reported throughout the sandstone column.
Exploration programs have also commenced at the Grease River Project,
located North-East of the Fond du Lac settlement, and on the Poplar Project,
located due West of Fond du Lac.
Further exploration will be staged during the summer on the Company's
Lake Athabasca Project, and following INAC permit approval, on the Black Lake
Denesuline First Nation Reserve Lands. Final approval is also being awaited
for the commencement of a second drill program at the Cree East Project.
Map and image reference:
The Company is very pleased with current operations, and is fully-funded
for the summer work programs, through its joint ventures and from current
treasury. In July, the Company will begin preparing additional projects for
Peter Dasler, P.Geo. is the Technical Person responsible for reviewing
the contents of 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$40 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
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: email@example.com