West McArthur Uranium Project - Summer Drill Results

Vancouver, BC (PRWEB via ToenWave Media) November 15, 2006 -- CanAlaska Uranium Ltd. (CVV – TSX.V – CVVUF – OTCBB – DH7 - Frankfurt) (the “Company”) is pleased to report drill results and interpretive information for its summer drill program at the West McArthur property in the Athabasca Basin. The property is subject to a Letter of Intent between CanAlaska and Mitsubishi Development Pty. Ltd. under which Mitsubishi will enter into a Cdn.$11 million Option Agreement with the Company to fund rongoing exploration (see previous September 6th, 2006 news release).

Three deep drill holes (WMA005, WMA006 and WMA007) were completed on the property over the summer period, along with extensive ground prospecting and sampling. All of the drill holes intercepted the basement rocks between 810 and 830 metres vertical depth. Two of the three drill holes showed evidence of hydrothermal alteration systems consistent with the uranium mineralization models applicable to Athabasca Basin mineral deposits. Zones of silicification, faulting and clay alteration are recognized from the drill hole core from the target zones.

According to Peter Dasler, M.Sc., P. Geo., President & CEO “the Company is highly encouraged by the nature and extent of the uranium mineralization now being detailed on the propety”. Many of the target zones bear similar signatures to unconformity and basement style mineralization within the Athabasca Uranium camp. Based on the intersections from the first seven holes, there appears to be at least two significant mineralized targets in the immediate area. These targets will be further investigated in the upcoming winter drilling program.

Hole WMA 007 intercepted 25 metres of intense silicification from 816 to 841 metres in the sandstone above the basement, and a stringer of uranium mineralization with associated copper uranium stringer mineralization in the underlying rocks. Refer to: Figure 1: MegaTEM II Conductive Zones and Drill-hole Locations http://www.canalaska.com/i/maps/WestMcArthur20061106.jpg .

The mineralized section assayed 0.16% U3O8 over 0.05 metre, but with a significantly increased background radiometric count to the end of the hole. The presence of silicification above the uranium mineralized zone fits the characteristics of the Athabasca mineralization model, and is found with the immediate alteration halo of the nearby McArthur River Uranium Deposit.
Refer to: Figure 2 : Detail of Lower Section of Western Target Drill-holes WMA 003, 005, 007 http://www.canalaska.com/i/maps/WestMcArthurSectionA.jpg

The drill holes have been targeting a very strong conductivity and alteration response in the sandstone and basement rocks on a major conductive trend located 20 km west of the McArthur River uranium mine.

The conductive horizon is traceable for at least 20 km, and shows various irregularities, especially on its wester extremity, where it bends north-westwards, in the area of CanAlaska’s 2006 drilling.

All of the current drill-holes are located on the attached image (Figure 1) showing the basement conductivity. These seven drill holes are located along 5 km of the trend, three holes in a 1 km triangular pattern on the east end of the trend, (Eastern Zone), three holes in a linear array 2 km west of the first holes, (Western Zone) and one hole in the centre of the trend. The two holes with uranium stringer mineralization are holes WMA 004 and WMA 007. The core of the conductive zone between WMA 003/5 and WMA 007 remains to be drilled. WMA 005 and WMA 007 have good alteration, as had WMA 003. The silicification in the lower sandstone of WMA 007 is an important diagnostic feature of McArthur River style alteration.

At the current time, the Company is completing high-definition AMT (audio magneto-telluric) geophysical surveys over these areas and future drill targets. Initial results from these surveys show encouraging images of the zones being tested. The Mitsubishi and CanAlaska management teams are meeting this month to finalize exploration programs and budgets for 2006-2007, in addition to executing an extension of the terms of the original September 5th Letter of Intent. The exploration camp is currently operating, and drill contracts are currently in hand for the resumption of drilling activities.

All of the samples from the drill program were submitted to qualified Canadian laboratories for analysis. Samples submitted to Saskatchewan Research Laboratories were analyzed for multi-element geochemistry, including uranium by tri-acid digestion and ICP. Samples submitted for assay for trace element geochemistry to Acme Laboratories in Vancouver, BC were analyzed by aqua regia digestion and ICP analysis. The samples were collected by CanAlaska field geologists under the supervision of Dr Karl Schimann, and were shipped in secure containment to the laboratories noted above. Peter Dasler, M.Sc. P. Geo. is the qualified technical person responsible for this news release.

About CanAlaska Uranium Ltd. – www.canalaska.com
CanAlaska Uranium Ltd. (CVV – TSX.V, CVVUF – OTCBB, DH7 – Frankfurt) is undertaking uranium exploration in eighteen 100%-owned and one optioned uranium projects in Canada's Athabasca Basin. Since September, 2004, the Company has aggressively acquired one of the largest land positions in the region, now comprising over 2,313,000 acres (9,360 square km). In 2005, CanAlaska expended over Cdn$5 million exploring its properties in the Athabasca Basin and delineated multiple uranium targets. Initial drilling from the West McArthur project revealed uranium mineralization and significant zones of hydrothermal alteration, indicative of a favorable environment for uranium deposition. An aggressive $6.5 million exploration program for 2006 is continuing.

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.

Investor Contact:

Emil Fung
Vice President, Corp. Development
Tel: +1.604.685.1870
Toll Free: 1.800.667.1870 (N. America)

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