CanAlaska Uranium Files NI 43-101 Report for Fond du Lac Project

VANCOUVER, Oct. 29 /PRNewswire/ – CanAlaska Uranium Ltd. (CVV - TSX.V) (the “Company” or “CanAlaska”) is pleased be able to provide its
recently commissioned NI 43-101 technical summary report for the Fond
Du Lac uranium project in the Athabasca Basin, Canada.  This report is
now available on SEDAR and EDGAR databases for public viewing.

The Fond Du Lac NI 43-101 report was prepared by Mr. Ron Parent, P. Geo,
Principal Geologist with AMEC Americas Limited, Vancouver.  In the
report, Mr. Parent describes the historical sandstone-hosted uranium
deposit, and CanAlaska’s recent discovery of shallow basement-hosted
uranium mineralization adjacent to this known mineralization. Additional areas on the property display  potential for hosting basement
and sandstone-hosted uranium mineralization. Mr. Parent’s review recommends a two-stage program of exploration,
consisting of drilling and investigation at an estimated budget of
Cdn$2.87 Mil.

President Peter Dasler states: ”The Fond Du Lac Project hosts a number
of areas with potential for uranium mineralization. The historical
sandstone-hosted deposit is located within forty metres (130 ft) of
surface, and the recently-discovered basement-hosted mineralization
occupies a brecciated feeder type system, which is expected to extend
to depth and along strike.  The basement mineralization is also very
near surface, and able to be tested systematically with short drill
holes during the coming 2011 winter season and continuing into the
summer.”

Peter Dasler, M.Sc., P Geo. is the Qualified Person responsible for this
news release.

About CanAlaska Uranium

CANALASKA URANIUM LTD. (CVV — TSX.V, CVVUF — OTCBB, DH7 — Frankfurt) is undertaking uranium exploration in twenty 100%-owned and three
optioned uranium projects in Canada’s Athabasca Basin — the “Saudi
Arabia of Uranium”.  Since September 2004, the Company has aggressively
acquired one of the largest land positions in the region, comprising
over 2,500,000 acres (10,117 sq. km or 3,906 sq. miles).  To-date,
CanAlaska has expended over Cdn$70 million exploring its properties and
has delineated multiple uranium targets.

For more information visit www.canalaska.com

On behalf of the Board of Directors

(signed)

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.

SOURCE CanAlaska Uranium Ltd.