VANCOUVER, May 27, 2011 /CNW/ - CanAlaska Uranium Ltd. (TSX.V - CVV) ("CanAlaska" or the "Company") wishes to announce that, further to the
Company's News Release dated May 18th, 2011, the Company has closed its non-brokered private placement of a
total of 418,141 Flow-Through Common Shares at a price of $1.13 per
common share for gross proceeds of $472,500.
The Flow-Through Common Shares issued under this placement are subject
to a four-month hold period expiring September 28th, 2011.
The proceeds from this private placement will be utilized by the Company
to conduct ZTEM airborne electromagnetic surveys on its uranium
properties located in the Athabasca Basin, Canada.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF -- OTCBB, DH7 -- Frankfurt) is undertaking uranium exploration in twenty one uranium projects in
Canada's Athabasca Basin -- the "Saudi Arabia of Uranium". 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$75 million exploring its properties and has delineated
multiple uranium targets.
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 Venture 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:
Emil Fung, Director & V.P. - Corp. Dev.
Tel: +1.604.688.3211 x318