Vancouver, Canada, August 10, 2016 - CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N), ("CanAlaska" or the "Company") is pleased to report that it has entered into a contract with Goldak Airborne Surveys to fly a low-level high definition airborne magnetics survey over the Company's 100% owned Alberta diamond exploration property. The surveys are expected to commence immediately upon aircraft availability. Previous Alberta and Saskatchewan Surveys Show Kimberlite Targets on Properties In addition to the properties optioned to De Beers and Fjordland, the Company holds the West Carswell, Alberta, and Has Creek Diamond projects. These three large properties, collectively comprising over 290,000 acres, are immediately northeast of a group of kimberlite indicator minerals (KIM) discovered in the Fort McKay - Fort McMurray area in Alberta. The KIM's are down-ice from CanAlaska's properties; their source has yet to be discovered. Alberta Diamond Project CanAlaska holds 249,600 acres (99,840 ha) of Metallic and Industrial Mineral Permits in neighbouring Alberta where wide-spaced airborne magnetic surveys have been completed. These surveys show circular magnetic anomalies similar to those recognized from the Saskatchewan survey data. Of special interest are at least two kimberlite style anomalies within the Alberta project in an area where the Saskatchewan and Alberta surveys overlap. The confirmation of these two targets, and the recognition of anomalous features from the earlier wide-spaced Alberta survey data, indicates that the clusters of kimberlite-style features noted in Saskatchewan may continue into Alberta. The proposed low-level, high definition airborne surveys will provide the Company with location, size and clustering information concerning the kimberlite targets. At the current time, similar work is coming to a conclusion on the nearby properties currently optioned to De Beers under a $20.4 million earn-in deal with CanAlaska. Discussions are underway with parties who may be able to assist the Company to further develop these targets, and the additional information will be valuable for the Company to complete any further dealings. For more information about CanAlaska's Athabasca kimberlite project click here. About CanAlaska Uranium CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N)holds interests in approximately 500,000 hectares (1.2 million acres), one of the largest land positions in Canada's Athabasca Basin region - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings has attracted major international mining companies Cameco, Denison, KORES, KEPCO, and the De Beers Group of Companies as partners. CanAlaska is a project generator and is positioned for discovery success in the world's richest uranium district. For further information visit www.canalaska.com. The qualified technical person for this news release is Dr Karl Schimann, P. Geo, VP Exploration, for CanAlaska. On behalf of the Board of Directors "Peter Dasler" Peter Dasler, M.Sc., P.Geo. President & CEO
CanAlaska Uranium Ltd. Contacts: Peter Dasler President CanAlaska Uranium Ltd. Tel: +1.604.688.3211 Extension 138 John Gomez Corporate Development CanAlaska Uranium Ltd. Tel: +1.604.484.7118 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-looking information: All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. These assumptions include, but are not limited to: future costs and expenses being based on historical costs and expenses, adjusted for inflation; and market demand for, and market acceptance of, the offering. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events. |