CanAlaska Uranium: Perched Uranium Mineralization at Stewart Island



    VANCOUVER, Aug. 21 /CNW/ - CanAlaska Ventures Ltd. (CVV - TSX.V) (the
"Company") is pleased to report assays and further drill information from
winter-early summer drill programs at Stewart Island in the Athabasca Basin.

    Stewart Island Drill program: 100% CanAlaska
    --------------------------------------------
    The Company commenced drilling shallow unconformity targets on the Lake
Athabasca project south of the historical Gunnar mine in late February, and
completed seven holes by break-up. The Company completed five holes in the
vicinity of the Stewart Island uranium deposit, and two holes on the western
end of Grouse Island in an area of extensive dravite clay alteration.
    All holes at Stewart Island intercepted hematitic sandstone units with
local epithermal style vuggy brecciation and alteration. The unconformity was
intercepted at an average of 49 metres below surface. Elevated uranium
mineralization was noted in core using hand-held scintillometer, and local
zones of moderate uranium enrichment were noted, with assay values over     
1% uranium, shown in the table below. Drill hole locations are on the attached
figure.

    
    Lake Athabasca Project Drilling - Uranium Intersections

    -------------------------------------------------------------------------
    Hole No.  Description   Sample No.  From (m)  To (m)   Width (m)  % U3O8
    -------------------------------------------------------------------------
    LAA002     Sandstone     Laacw004     3.60     3.85      0.25       0.18
    -------------------------------------------------------------------------
    LAA002     Sandstone     Laacw005     3.85     4.10      0.25       1.19
    -------------------------------------------------------------------------
    LAA002     Sandstone     Laacw006     4.10     4.35      0.25       1.14
    -------------------------------------------------------------------------
    LAA002     Sandstone     Laacw007     4.35     4.60      0.25       0.56
    -------------------------------------------------------------------------
    LAA002     Sandstone     Laacw008     4.60     4.85      0.25       0.07
    -------------------------------------------------------------------------
                             Average      3.60     4.85      1.25       0.63
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LAA003     Sandstone     Laacw001     7.00     7.50      0.50       0.09
    -------------------------------------------------------------------------
    LAA003     Sandstone     Laacw002     7.50     8.00      0.50       0.15
    -------------------------------------------------------------------------
    LAA003     Sandstone     Laacw003     8.00     8.50      0.50       0.30
    -------------------------------------------------------------------------
                             Average      7.00     8.59      1.50       0.18
    -------------------------------------------------------------------------
    

    The significant intervals of perched mineralization are: LAA002: 3.60 to
4.85 m, 1.25 m at 0.63% U(3)O8, Incl. 0.5 metres at 1.16% U(3)O8
    LAA003: 7.00 to 8.59 m 1.50 m at 0.18% U(3)O8

    Hole LAA002 was drilled in the vicinity of the Stewart Island deposit to
test the extension at depth of the surface showing, to get information on its
envelope, and to test for possible faults or other structures associated with
this uranium prospect. Mineralization was intersected starting at surface
(below casing), and is thought to be re-mobilized "perched" mineralization.
    Hole LAA003 was drilled 65 metres south-east of LAA002 to undercut the
prospect at greater depth and test for structures and mineralization somewhat
deeper. This drill hole also intersected a zone of near surface perched
uranium mineralization in the Athabasca sandstone.
    Both holes intersected a 25-metre wide, sub-vertical shear zone in the
basement. The sandstone also showed abundant vuggy quartz veins associated
with dravite. The Company is evaluating whether this basement structure is
controlling the uranium mineralization, or if it is related to a nearby
structure. Similar alteration was observed in outcrop for a two kilometre zone
along the lake shore east of the drill-holes.
    On the Stewart Island showing itself the drilling has confirmed the
uranium mineralization at depth and defined its environment in terms of
structure, clays, and chemistry. The two highly prospective holes, (LAA 002
and LAA03), confirm the existence in this area of uranium mineralizing events
similar to unconformity deposits elsewhere in the Athabasca.

    Grouse Island Drill program: 100% CanAlaska

    At Grouse Island, 3.5 kilometres south east of the initial 5 holes at
Stewart Island, drill holes LAA006 and 007 intercepted major fracturation and
brecciation of the sandstone from surface to the unconformity, which is at  
156 metres depth. There is significant quartz-dravite flooding in the holes,
with strong alteration over 20 metres into the basement rocks, associated with
strong fracturation, chloritization, and shearing, with replacement dravite
and quartz mineralization.
    Field work during the fall of 2006 mapped an extensive zone of
quartz-dravite hydrothermal alteration covering parts of Stewart Island and
Grouse Island. Drill holes LAA006 and LAA007 showed that major shear zones are
associated with the more intense manifestation of this vuggy quartz-dravite
alteration.

    To view map please visit www.canalaska.com.

    Summer Exploration Continuing
    -----------------------------
    Exploration has continued over the summer months in both target areas,
and on the Northern Islands nearer to the historic Gunnar Mine. This field
work includes detailed offshore seismic profiling and lake bottom sediment
sampling adjacent to zones of on-shore uranium mineralization. A number of
these on-shore uranium showings were identified in the early 1960's, but have
had little exploration because of historic limitations.
    The Gunnar mine is the major historic open pit uranium producer in the
uranium city area, and the only intrusive hosted uranium mine in the
Athabasca. It lies just to the north of CanAlaska's claim boundary. Its
airborne and structural characteristics are being matched to similar features
on targets on and within the islands immediately south, and within CanAlaska's
100% claim holdings.
    All of the samples from the drill program were submitted to qualified
Canadian Laboratories for analysis. Samples submitted to Saskatchewan Research
laboratories were analyzed for multi-element geochemistry and including
uranium by tri-acid digestion and ICP. Samples submitted for assay for trace
element geochemistry to Acme Laboratories in Vancouver BC, were analyzed by
aqua regia digestion and ICP analysis. The samples were collected by CanAlaska
field geologists under the supervision of Dr Karl Schimann, and were shipped
in secure containment to the laboratories noted above.
    The Qualified Person for this news release is Peter Dasler, P.Geo.

    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).
CanAlaska has expended over Cdn$22 million exploring its properties in the
Athabasca Basin and has delineated multiple uranium targets. Initial drilling
results from the West McArthur Project revealed uranium mineralization and
significant zones of hydrothermal alteration, indicative of a favourable
environment for uranium deposition. Active drilling and exploration continued
in the Summer, 2007 exploration season at West McArthur and at 2 other
significant projects. The Company's high profile in the prominent Athabasca
Basin has attracted the attention of major international strategic partners.
Mitsubishi Development Pty., a subsidiary of Japanese conglomerate Mitsubishi
Corporation, has undertaken to provide CanAlaska C$11 mil. in exploration
funding to earn 50% of the West McArthur Project. An MOU has also been
executed with Hanwha Corporation, a S. Korean conglomerate, to enter into
joint exploration of CanAlaska's Cree East Project.

    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: 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, Toll Free (N. America): 1-800-667-1870, Email:
info@canalaska.com

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CanAlaska Uranium Ltd.

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