Toronto Stock Exchange (TSX): CVV
VANCOUVER, June 24, 2013 /CNW/ - CanAlaska Uranium Ltd. (TSX - CVV) ("CanAlaska" or the "Company") CanAlaska has received the resignation of long serving board member, Hubert Marleau. Hubert has been a director of the Company since 1996, and has been very active during the recent years, where the Company has been focused on uranium in the Athabasca. Hubert is a strong proponent of fiscal responsibility, and focused on the fundamentals of the Nuclear industry. The Board and President, Peter Dasler, wish to sincerely thank Hubert for his strong support and commitment to the Company, and wish him well on his Milestone Birthday and next facet of his lifetime journey.
The following update for shareholders, outlines the path which Hubert and the board have positioned CanAlaska.
Update for Shareholders:
The Company has spent the past 15 months in a reduced activity mode, to preserve a modest treasury (currently $1.47M), such that there is a minimum of dilution to existing shareholders during a time of depressed market prices. The Company has maintained a reduced salary and part time, work force, which is able to move back into Project mode, and has been active in the presentation and marketing of its Joint Ventures, and non-core assets. The marketing of the non-core assets has attracted a number of industry investors and supporters who have entered into confidentiality agreements to review potential purchase or earn-in joint ventures with the Company. This interest is continuing to grow following the magnificent uranium exploration successes by other explorers elsewhere in the Athabasca Basin area.
The Company is fortunate to have the support of its Asia-based Joint Venture Partners on the large key projects at West McArthur, and Cree East. Both of these exploration projects have advanced with the discovery of intensive uranium related hydrothermal alteration zones within the claim areas (see website detail for each project at www.canalaska.com), and are awaiting the next drill programs. The increasing awareness of the fundamentals of uranium reactor build, especially throughout Asia, and the predictions of reactor restarts elsewhere in the world, is now being recognized by Investment Analysts and market investors. The board believes that there will be further investor participation in our market, and that there will be the opportunities to finance through the joint venture and sale of our projects. We currently hold 18 exploration projects, totaling over 773,725 hectares (1,910 acres) in the Athabasca region. The Company is hopeful to solidify further joint ventures/options on advanced projects over the coming months.
Shareholders and investors can review detailed information on the Company's projects and joint ventures on the Company's newly updated website at www.canalaska.com.
Peter Dasler, M.Sc., P Geo. is the qualified person responsible for this news release.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX, CVVUF -- OTCBB, DH7F -- Frankfurt) has undertaken uranium exploration on multiple uranium projects in Canada's Athabasca Basin -- the "Saudi Arabia of Uranium" since 2005. The Company has major international partners for its West McArthur and Cree East properties, and is concentrating its activities on these advanced projects.
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 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 Commission.
SOURCE: CanAlaska Uranium Ltd.
For further information:
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
Email: [email protected]