CanAlaska Uranium Ltd. announced the Company's newly acquired Frontier project, totaling 15,929 hectares, in the northeastern Athabasca Basin. The Frontier project is located approximately 30 kilometres northeast of the McClean Lake mill complex and Roughrider uranium deposit, and 35 kilometres north of Cameco's Eagle Point uranium mine. The Frontier project is located five kilometres northeast of the present-day Athabasca Basin edge.

Compilation work on the project has highlighted a prominent 25-kilometre-long northeast trending magnetic low corridor. This regional-scale corridor, which continues off property to the southwest, hosts multiple uranium deposits and showings, including Roughrider, Midwest, J Zone, Dawn Lake, Moonlight, Osprey, and the McClean Lake mine (mined-out Jeb deposit) and mill complex. This regional-scale corridor is termed here as the Roughrider Mineralized Corridor.

Within the Frontier project the RMC is bound by magnetic high bodies to the east and west that are interpreted to represent Archean domes, providing a suitable and favourable geological scenario for the formation of large fault structures. A major northeast trending structure has been mapped along the western margin of the magnetic low corridor that is cross-cut by multiple north-south trending magnetic structure lineaments. Southwest of the property, this same lineament is associated with a large jog in the Athabasca Basin edge that is interpreted to represent structural offset.

The interplay between structures along long linear magnetic low corridors is typical of many unconformity uranium deposits in the Athabasca Basin and allows for the creation of structural traps for potential uranium deposition. As a result, the Company believes this section of the RMC represents a key underexplored target area for basement-type uranium mineralization. The Frontier project has undergone very limited historical exploration.

Gulf Minerals Company completed an airborne radiometric survey, followed by prospecting and mapping in the 1960's. Airborne radiometric, magnetic, and electromagnetic surveys were flown in the 1970's by Gulf Minerals Company and Canadian Superior Exploration Ltd. These surveys were followed by ground-based prospecting, mapping, lake sediment and boulder sampling, and VLF-EM surveying. In the early 1990's, as part of a regional lake-sediment sampling program, the Geological Survey of Canada collected a sample on Point Lake which returned 34.7 ppm uranium associated with elevated cobalt, copper, molybdenum, and nickel. In 2007, Hathor Exploration Ltd., discoverer of the nearby basement-hosted Roughrider uranium deposit, conducted a detailed aeromagnetic survey that covered the entire Frontier property and a small VTEM (Versatile Time Domain Electromagnetics) survey and lake sediment sampling program that covered only the very southern portion.

The Frontier property has no known drillholes completed within its boundaries. The Company believes the next steps for the Frontier project include property-wide modern high-resolution airborne radiometric, VTEM, and gravity surveys followed by ground-based prospecting. This combination of geophysical techniques is well suited toward identification of basement-hosted uranium targets for follow-up drilling programs. The Company is completing further compilation work on the newly acquired Frontier project and is actively seeking Joint Venture partners to move the project forward.