CanAlaska Uranium (CVV-V)
www.canalaska.com
The company has spent the past 15 months in a reduced-activity mode, to preserve a modest treasury (currently $1.47-million) such that there is a minimum of dilution to existing shareholders during a time of depressed market prices. The company has maintained a reduced salary and part-time work force, which is able to move back into project mode, and has been active in the presentation and marketing of the company's joint ventures and non-core assets. The marketing of the non-core assets has attracted a number of industry investors and supporters that have entered into confidentiality agreements to review potential purchase or earn-in joint ventures with the company. This interest is continuing to grow following the magnificent uranium exploration successes by other explorers elsewhere in the Athabasca basin area.
The company is fortunate to have the support of its Asia-based joint venture partners on the large key projects at West McArthur and Cree East. Both of these exploration projects have advanced with the discovery of intensive uranium-related hydrothermal alteration zones within the claim areas (see details for each project at CanAlaska's website), and are awaiting the next drill programs. The increasing awareness of the fundamentals of uranium reactor build, especially throughout Asia, in addition to predictions of reactor restarts elsewhere in the world, is now being recognized by investment analysts and market investors. The board believes that there will be further investor participation in CanAlaska's market, and that there will be opportunities to finance through the joint venture and sale of the company's projects. CanAlaska currently hold 18 exploration projects, totalling over 773,725 hectares (1,910 acres), in the Athabasca region. The company is hopeful it will solidify further joint ventures/options on advanced projects over the coming months.
Shareholders and investors can review detailed information on the company's projects and joint ventures on the company's newly updated website.
Peter Dasler, MSc, PGeo, is the qualified person responsible for this news release.
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