VANCOUVER, May 27, 2011 /PRNewswire/ - CanAlaska Uranium
Ltd. (TSX.V - CVV) ("CanAlaska" or the "Company") wishes
to announce that, further to the Company's News Release dated
May 18th, 2011, the
Company has closed its non-brokered private placement of a total of
418,141 Flow-Through Common Shares at a price of $1.13 per common share for gross proceeds of
$472,500.
The Flow-Through Common Shares issued under this
placement are subject to a four-month hold period expiring
September 28th, 2011.
The proceeds from this private placement will be
utilized by the Company to conduct ZTEM airborne electromagnetic
surveys on its uranium properties located in the Athabasca Basin, Canada.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX.V, CVVUF
-- OTCBB, DH7 -- Frankfurt) is
undertaking uranium exploration in twenty one uranium projects in
Canada's Athabasca Basin -- the "Saudi Arabia of Uranium". 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$75 million exploring its properties and has
delineated multiple uranium targets.
For more information visit www.canalaska.com
On behalf of the Board of Directors
Peter Dasler,
M.Sc., P.Geo.
President & CEO, CanAlaska Uranium Ltd.
The TSX Venture has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release:
CUSIP# 13708P 10 2. This news release contains certain
"Forward-Looking Statements" within the meaning of Section 21E of
the United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included
herein are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements
will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the
Company's documents filed from time to time with the British Columbia Securities Commission and the
United States Securities & Exchange Commission.
SOURCE CanAlaska Uranium Ltd.