To Shareholders and Parties Following CanAlaska Uranium:
On Friday February 5th, Cameco Corp. announced that they had discovered a
significant new uranium deposit adjacent to CanAlaska'sWest
McArthur uranium property, just west of the McArthur River uranium mine.
The McArthur River mine is the largest high-grade uranium mine in the world,
and currently produces approximately 15% of the world's daily uranium
requirements.
77
The Fox Lake discovery, at the Read Lake Project,
is described in Cameco's latest quarterly report as having an inferred resource
of53 million poundsof
U3O8 (Cameco's' share). Assuming Cameco still owns 78% of the project (as
reported in 2010), Fox Lake has a total inferred resource of approximately68
million poundsU3O8. The
reported grade of the deposit is a very high7.99%U3O8!
Fox Lake will continue to receive the major share of Cameco's exploration
funding in 2016, with a budget of$7
million(Cameco's share).
In 2012, CanAlaska's crews drilled a limited number of holes on what is believed
to be thesame conductive
horizonthat hosts uranium
mineralization at Fox Lake. Drill holes WMA028 and WMA034 discovered large
zones of hydrothermal alteration on our West McArthur property - see
April
13, 2012 news release.
This initial drilling demonstrated the Grid 5 exploration area has the requisite
geological environment for large unconformity uranium deposits.
Since 2012 we have monitored the drill programs carried out by Cameco as their
drilling got progressively closer to our property border.
The mineralized system that we have discovered at Grid 5 has tremendous
importance given that the major mineralized conductor trending southwest from
Fox Lake, appears to extend onto our property along a major east-west structural
break, before rotating southwest to the location of the conductor at Grid 5 (see
map).
It is very significant for CanAlaska that this
resource has now been announced. Fox Lake shows excellent uranium grade, and a
substantial quantity of uranium.
Management is very encouraged by interest received from investors and
other parties that follow the uranium sector following Cameco's disclosure of
Fox Lake's resource. Furthermore, our
consolidation of ownership of West McArthur, though ourbuy-outof
MC Resources Canada Ltd.'s (Mitsubishi) share of our Joint Venture, is timely
and strategic for the growth of CanAlaska.
Finally, below is my interview filmed in late January during the Cambridge
Vancouver Resource Investment conference.
Please contact us if you desire further
information about recent developments.
Peter Dasler
President
CanAlaska Uranium Ltd.
Contacts:
Peter Dasler
Tel: +1.604.688.3211 Extension 138
Email: info@canalaska.com
John Gomez
Tel: +1.604.484.7118
Email:
PREVIOUS MESSAGE
Uranium Prices Poised for Multi-Year Gains Fueled by Surge in Nuclear Energy
CanAlaska Leveraged to Market's Growth with Among the Largest Land Positions in World's Richest Uranium Region
Interest in uranium stocks has increased in the past few months as a result mainly of the overall rise in the spot uranium price. Spot uranium is current approximately US$39/lb up 39% from prices in the summer when spot was about US$28/lb. Many analysts forecast uranium prices to rise in the coming years as demand accelerates while uranium supplies decrease. The charts below from Raymond James Ltd.'s December 2, 2014 uranium report illustrates their view on the uranium market.
The growth in uranium demand is being driven by the world's rising energy needs. Global surging energy usage is expected to create unprecedented growth in nuclear energy, especially in China where nuclear power is required to not only meet the country's rapidly rising energy needs, but to reduce pollution which in many urban areas has become a significant health and environmental problem.
Consider the following, according to the World Nuclear
Association, there are 435 nuclear reactors in operation worldwide, 72 new reactors are under construction, 174 new reactors planned, and 299 new reactors are proposed. This picture is a good representation of the market.
I discussed the uranium market at a recent presentation I made at the New Orleans Investment conference in October. An updated presentation is available on our website. Click image below to view.
At the conference I was interviewed about the uranium market and the company's prospects in 2015.
Click image below to view.
As one of the largest land holders in the Athabasca Basin -- the world's richest uranium region -- CanAlaska is well positioned to participate in the growth in the uranium market as well as discovery of new deposits.
CanAlaska is leveraged to discoveries through agreements and partnerships it has secured on several key projects whereby other companies fund exploration to earn an interest. Northern Uranium for instance is currently drilling our NW Manitoba project. Sampling at this exciting property has yielded results greater than 60% U3O8, among the highest values found in the Athabasca region! The Northern Miner wrote an article on the property available here
http://bit.ly/1vX3mVo.
Given our large number of properties in the Athabasca Basin we will continue to look for partners to fund exploration and leverage our assets. This strategy increases the company's exposure to discoveries and minimizes share dilution.
With drilling underway and an improving uranium market, 2015 promises to be an exciting year for
CanAlaska.
