CanAlaska Uranium Limited (CVE:CVV) To Exhibit At PDAC 2011 Mining Convention
CanAlaska is an advanced exploration company undertaking uranium exploration across twenty one uranium projects in Canada's Athabasca Basin - the "Saudi Arabia of Uranium". The Company's mission is to discover one or more giant uranium deposits. The Athabasca Basin in Saskatchewan contains the world's richest and most profitable uranium mines which have historically accounted for one-third of global uranium supply and contributed 20% of global production in 2009.
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) across 21 exploration projects. CanAlaska's land position rivals the properties held by uranium industry giants Cameco (TSE:CCO) (NYSE:CCJ) and AREVA (EPA:CEI) combined. To-date, CanAlaska has expended over Cdn$75 million exploring its properties and has delineated multiple uranium targets.
CanAlaska has assembled a highly-competent and proven in-house geological and geophysical team. The Company has deployed one of the largest exploration teams in the Athabasca Basin. This team is led by Dr. Karl Schimann, V.P. Exploration, a veteran Athabasca uranium geologist, who was a senior member of the team that discovered the prolific Cigar Lake uranium mine (grading over 20% U3O8) in 1981.
To support the Company's aggressive exploration efforts, Director & V.P. Corporate Development, Emil Fung, has been active in developing financing partnerships with numerous strategic and exploration partners. This fund-raising strategy has sheltered CanAlaska from the current global illiquidity crisis, while critically protecting its shareholders from dilution via new issuances of shares. The company is unique in being the only exploration company in Canada who counts as its exploration partners strategic participants from all three major Asian uranium-consuming countries - Japan, Korea and China. CanAlaska counts Japan's Mitsubishi Corporation (TYO:8058) (PINK:MSBHY) as a 50% joint venture partner in its West McArthur project in which Mitsubishi has contributed over $12.7 million in funding. On its Cree East project, a Korean consortium comprising Hanwha, Korea Electric Power (SEO:015760) (NYSE:KEP) (KEPCO), Korea Resources (KORES) and SK Networks (SEO:001740) is similarly engaged in 50/50 joint venture partner and has contributed $19.0 million in funding.
For more information, please visit http://www.canalaska.com
For the complete CanAlaska Uranium Limited announcement including project map, please refer to the following link:
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About CanAlaska Uranium Limited
CanAlaska Uranium Ltd., an exploration stage company, engages in the acquisition and exploration of mineral properties primarily in Canada. The company primarily focuses on exploring for uranium deposits in the Athabasca Basin area of Saskatchewan.
Korea Electric Power Corporation (KEPCO)
CanAlaska Uranium Limited