CanAlaska Obtains 100% of the Cree East Uranium Project, One of the Largest Properties in the Eastern Athabasca Basin

CanAlaska Uranium (TSXV: CVV) (OTCQB: CVVUF) (FSE:DH7N) (“CanAlaska”) is pleased to report that it has increased its interest in the Cree East uranium project, one of the largest land positions in the eastern Athabasca.
CanAlaska now owns an unencumbered 100% interest in the project which covers 57,752 hectares, (223 square miles) of highly prospective terrain. The project has land assessment credits banked until 2033 and hosts multiple large scale uranium targets.
CanAlaska bought back the 50% interest in the Limited Partnership earned by the Korean partners Hanwha, KORES, KEPCO and SK (the “Partners”) in consideration for certain indemnities which it provided to the Partners. In addition, all funds previously invested by the Partners that were held in the Partnership’s bank account on the date of closing were returned to the Partners at closing.
President Peter Dasler commented:

“CanAlaska is again very grateful for the support of each of the four Korean Industry Partners management and staff for their guidance and financial support on the project. CanAlaska is now working to find new partners to advance the drill testing of the targets that have been delineated.
Management believes that there are a number of parties who are building interest in funding exploration on advanced exploration projects such as Cree East, in recognition that nuclear power is a fundamental cornerstone of clean energy production.”

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