Company Information for CanAlaska Uranium Ltd

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Company Statement

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$45 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. A Memorandum of Understanding has also recently been executed with Chinese mining partner East Resources Inc. to commence exploration on the NE Wollaston Project comprising a potential 100,000 metres of drill testing.

Current Operations

The Athabasca Basin contains the world’s most potent supply of uranium
The large high-grade uranium deposits in the Athabasca Basin produce the richest uranium mines in the world. The Cigar Lake and McArthur River mines of Areva and Cameco each hold resources exceeding 200 million pounds, grading between 17-25% U3O8 (uranium oxide). These deposits possess gross realizable values in excess of $20 billion. Uranium ore mined from McArthur River or Cigar Lake is worth in excess of $40,000 per tonne as compared with approx. $50 - $250 per tonne from other major uranium production regions around the world. CanAlaska has positioned itself for the discovery of one or more of these “mega” uranium deposits.

Aggressive Exploration
CanAlaska’s exploration team comprises seasoned geologists with considerable uranium exploration experience. It is headed by Mr. Peter Dasler, P.Geo., President, and Dr. Karl Schimann, P.Geo., V.P. Exploration. Dr. Schimann spent 20 years with uranium-giant Cogema/AREVA, where he participated as a member of the exploration team that discovered and developed the giant Cigar Lake uranium mine. CanAlaska ranks among the most active uranium exploration companies operating in the Athabasca Basin. Since 2004, CanAlaska has expended over Cdn$45 million in the exploration of its projects and the company is poised for discovery success.

World-Class Partnerships
Led by Mr. Emil Fung, V.P. Corp. Development, CanAlaska has built long-term relationships with international strategic partners to provide exploration funding. Mitsubishi Development Pty., a subsidiary of Japan’s Mitsubishi Corporation, is providing C$11 million in exploration funding for the West McArthur Project to earn a 50% interest. Similarly, at the Cree East Project, a Korean consortium led by Hanwha, and comprising KEPCO, KORES and SK Energy, has pledged to invest C$19 million to earn a 50% interest. An MOU with Chinese mining partner Allway Minerals has also been executed to fund exploration of the NE Wollaston Project. As a result of these global funding partnerships, the Company is able to maintain an aggressive exploration profile despite the present downturn in the global financial markets.

Geographical Spread

Saskatchewan, Alberta, Manitoba & Ontario (Canada) New Zealand (Gold)

Board of Directors and Key Management

Peter Dasler	President and CEO
Emil Fung	Vice President, Corporate Development, Director
Dr. Karl Schimann	Vice President, Exploration
Hubert Marleau	Director
Jean Luc Roy	Director
Colin Bird	Director
Amb. Thomas Graham	Director
J. L. Roy	Director
F. Petryshen	Corporate Secretary
Gord Steblin	Chief Financial Officer

Company Address Suite 1020, 625 Howe Street Vancouver, British Columbia, Canada V6C 2T6 Telephone: +1 604.688.3211 Facsimile: +1 604.688.3217 Email: info[at]canalaska.com Website: http://www.canalaska.com

Capital Issued & Outstanding Shares 137.7 mil Fully-Diluted Shares 165.6 mil

Year End April 30

Related News

01/06/09 - CanAlaska Uranium Is Looking For New Partners To Fund Exploration On Its Portfolio of Projects Around The Athabasca Basin
13/10/08 - Despite Market Melt Down It Is Steady As She Goes For CanAlaska Uranium

Most Recent Statement

05/06/09 - Drilling Resumes at Black Lake Uranium project
04/06/09 - West McArthur Uranium Project Drill Results
01/05/09 - Cree East Uranium Project Drill Results
23/03/09 - Drill Program Update -- Drilling at Black Lake Commences
17/02/09 - Uranium Mineralization in Granite at Grease River Project, Northern Athabasca Basin
09/02/09 - CanAlaska Options New Zealand Gold Project to Kent Exploration