Vancouver, Canada, March 1, 2019 -- CanAlaska Uranium Ltd.
DH7N)) ("CanAlaska" or the "Company") is pleased to
report the agreement for the sale of the Zeballos Gold project
to Privateer Gold Ltd., a private BC corporation.
The cash sale agreement is for $50,000 on signing and $200,000
upon transfer of the Crown Grant titles on or before May 31,
2019. CanAlaska will retain a 2% net smelter return royalty over
the property, 1/2 of which may be purchased by the buyer prior
to production for $500,000.
CanAlaska acquired the Crown Grants comprising the Zeballos
project in 1988, and completed one program of drilling, which
showed significant new gold intersections. Since 1990 the
project has seen limited activity, but has been maintained by
CanAlaska. In December 2018, CanAlaska obtained a Court Order to
secure 100% title to the property, which was necessary because
of the dissolution of its original joint venture partner.
CanAlaska's President, Peter Dasler comments, "We are very
pleased to see the amount of work that Privateer Gold Ltd. has
completed on its nearby landholdings and believe that the
consolidation of properties in this very interesting gold camp,
and this sale, will provide CanAlaska with its best long term
value. The sale will further allow us to focus our exploration
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV;
holds interests in approximately 152,000 hectares (375,000
acres), in Canada's Athabasca Basin -- the "Saudi Arabia of
Uranium." CanAlaska's strategic holdings have attracted major
international mining companies. CanAlaska is currently working
with Cameco and Denison at two of the Company's properties in
the Eastern Athabasca Basin. CanAlaska is a project generator
positioned for discovery success in the world's richest uranium
district. The Company also holds properties prospective for
nickel, copper, gold and diamonds..
For further information visit
The qualified technical person for this news release is Dr Karl
Schimann, P. Geo, CanAlaska director and VP Exploration.
behalf of the Board of Directors
Peter Dasler, P. Geo.,
President & CEO
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
Cory Belyk, COO
Tel: +1.604.688.3211 x 306
Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
All statements included in this press release that address
activities, events or developments that the Company expects,
believes or anticipates will or may occur in the future are
forward-looking statements. These forward-looking statements
involve numerous assumptions made by the Company based on its
experience, perception of historical trends, current conditions,
expected future developments and other factors it believes are
appropriate in the circumstances. In addition, these statements
involve substantial known and unknown risks and uncertainties
that contribute to the possibility that the predictions,
forecasts, projections and other forward-looking statements will
prove inaccurate, certain of which are beyond the Company's
control. Readers should not place undue reliance on
forward-looking statements. Except as required by law, the
Company does not intend to revise or update these
forward-looking statements after the date hereof or revise them
to reflect the occurrence of future unanticipated events.