CanAlaska Uranium Ltd. Holds Interests in Approximately 500,000 Hectares (1.2 million acres), One of the Largest Land Positions in Canada Athabasca Basi

Uranium (Nuclear Minerals) / Exploration, Mining, Marketing, & Acquisitions

Date posted: 04/08/17

The Athabasca Basin region is dubbed the Saudi Arabia of Uranium due to the large, high-grade uranium resources. CanAlaska strategic holdings have attracted major international mining companies ... Cameco, Denison, KORES, and KEPCO to explore the company projects. CanAlaska is a project generator with a management and technical consulting team comprised of geologists and geophysicists with extensive experience identifying exploration targets in the Athabasca Basin for major mining companies. CanAlaska primary focus is on advancing the West McArthur and Cree East uranium projects. Adjacent to the world richest uranium mine ... Cameco McArthur River $20 million of work successfully identified 7 Target Areas, currently being evaluated. Objective ... a large unconformity uranium deposit Priority Targets on grid 5 and grid 1 The Cree East project is located 35 kilometers from the Key Lake mine, over 56,000 hectares land package Objective ... a large unconformity uranium deposit Extensive uranium bearing systems, 9 target areas being tested Korean Consortium has contributed $19M for a 50% interest in the partnership. CanAlaska carried out VTEM airborne surveys across the property area in 2005 and determined priority targets. In 2006, detailed collection of over 2,000 surface rock samples and over 400 lake sediment samples by CanAlaska field crews defined three large areas of dravite and clay alteration on surface, and localized boulder samples containing anomalous uranium. By 2007, initial ground geophysical data from the first lines of IP-Resistivity surveys, had provided the Company with evidence of strong alteration in the sandstone horizons overlying these basement conductors. Additional IP-Resistivity and Audio Magneto Telluric geophysical surveys were used to further define these targets this year. Drill programs started on the project in late February 2008 and large zones of alteration were intercepted.