Uranium exploration in the Canadian "Saudi Arabia"

INDUSTRIAL METALS, MINERALS AND MINEABLE ENERGYINVESTMENT SUMMIT 2010

LONDON CHAMBER OF COMMERCE & INDUSTRY ● WEDNESDAY, 30 NOV 2010www.ObjectiveCapitalConferences.com

Uranium exploration in the Canadian "Saudi Arabia" Peter Dasler – CEO, CanAlaska Uranium

3TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10

Disclaimer

This slide show presentation contains certain "Forward-LookingStatements" within the meaning of Section 21E of the United StatesSecurities Exchange Act of 1934, as amended. All statements, other thanstatements of historical fact, included herein are forward-lookingstatements that involve various risks and uncertainties. There can be noassurance that such statements will prove to be accurate, and actualresults and future events could differ materially from those anticipated insuch statements. Important factors that could cause actual results to differmaterially from the Company's expectations are disclosed in theCompany's documents filed from time to time with the British ColumbiaSecurities Commission and the United States Securities & ExchangeCommission


Highlights

Possesses one of the largest Uranium exploration portfolios in the Athabasca Basin - 10,000+ sq km of property

21 exploration projects, located near proven deposits

$75 million spent on detailing and preparing targets

Significant completed exploration with positive results• Six exploration seasons of intense target definition• Joint Venture funding totalling $42 million on 5 out of 21

projects

Strong First Nations involvement

Proven Management team• Head of exploration co-discovered Cigar Lake and

managed Cogema (Areva) operations• Experienced Uranium crews .. up to 100 active in field

2005-10


Share Structure

Share Price CDN$ 0.09

Shares Outstanding 171,916,213(Note 10:1 Share

consolidation 8/11/10)

Shares Fully Diluted 215,482,184

Market Capitalization CDN$ 15.5 million

Cash Position CDN$ 6.0 million


Team

Peter Dasler, M.Sc. P.Geo, President and CEO, over 35 years of experience in exploration geology, including 20 years of consulting for junior and senior companies.

Mr. Ram Ramachandran, C.A., CFO, over 25 years of financial reporting experience in a multitude of capacities.

Mr. Emil Fung, M.B.A., VP - Corporate Development , has raised over $50 million for CanAlaska by forming exploration ventures with international strategic partners from Japan, Korea, U.K. and China.

Dr. Karl Schimann, PhD., P. Geo., VP - Exploration, 20 years with COGEMA, on discovery team for first giant uranium deposit at Cigar Lake

Mr. Grant Nimeck, B.Sc., P.Geoph., Regional Operations Manager , 20 years operational and geophysical experience in the Athabasca region

6


Board of Directors

Peter Dasler

Victor Fern

Emil Fung

Fmr. U.S. Ambassador Thomas Graham

Hubert Marleau

Jean Luc Roy

Board of Advisors

Daniel Faure

Nana Lampton

Board Members


Partnerships


Partnerships

Mitsubishi Corporation: Joint Venture co-funding 5 year Plan; provides basis for multiple discoveries

Korean Uranium Consortium: $19 million of Korean funding (December 2007)

MOU for Extensive Chinese Funding: 100,000 metres of drilling planned for Poplar Project (August 2009)

Mega uranium Ltd.: $2.3 of $8 million of exploration funding – Poplar Project (December 2007)

Yellowcake Plc: $1.8 million of $5 million of exploration – Grease River Project (April 2007)

First Nations: Exploration on Reserve Lands. 1,000,000 lbs U3O8 (December 2006), New discovery and 40 metres @ 0.32% U3O8 (September 2009)

Westcan Uranium: $2 million of exploration funding – Key Lake Project and $2 million of exploration funding – Cree West Project (March 2006). $4million of funding Grease River (August 2010)

Kodiak Exploration: $6 million of exploration funding – McTavish Project (August 2009)


Properties Location

CanAlaska’s Uranium projects in the Athabasca Basin


Why Explore Athabasca?

The Athabasca Basin hosts the world’s richest uranium mines

Supplier of 20% of world’s uranium

Unique geology, stable jurisdiction

High grades assures extremely profitablemining operations and weather all economic cycles

Rich history: Athabasca mines were profitable throughout the 1980-2001 “Nuclear Winter”


Athabasca’s Uranium


Athabasca Uranium

Current Price (spot) $51.52This is 7.5 X the 2001 price!

Uranium Price: Staying up to meet demand

Long term price will reflect cost of production from average deposit

Athabasca deposits are strategic and profitable due to ultra high grades


What Does a Uranium Deposit Look Like? Areva’s “Sue”

Deposit

ORE ZONE20 metre fault

Clay Zone

The uranium zones are small and rich, but the have a large alteration halo

DISCOVERY PROCESS:

Airborne Survey’s finds the halo Multiple holes drilled across the target find the narrow mineralized fault zones


“The Model”


Projects

Athabasca BasinArnold Fond Du Lac McTavish

Black Lake Grease River Misty

Camsell Helmer Moon

Carswell Hodgson NE Wollaston

Cree East Kasmere Poplar

Cree West Key Lake Waterbury

Collins Bay West McArthur


West McArthur Project

Surveys are discovering new targets near rich uranium mines

During February and March 2010, Mitsubishi and CanAlaska completed a 6,071 m drill campaign into the alteration systems associated with these targets. Drilling continues in 2011

Multiple large targets are located across the project

Strong history of rich deposits: 2003 – 436.5 million lbs. U3O8 (167,897

tonnes uranium) with an average grade of 24.7% U3O8 at nearby McArthur Mine

These deposits are orders-of-magnitude larger and richer than most other uranium deposits world-wide


Cree East Project

During February and March 2010, CanAlaska drilled 14 further holes into the alteration systems associated with these targets

Multiple targets proved positive first drill results

Drilling continued throughout Summer 2010Twenty four holes/ 9,000 metres

We have had 2 drills operating at Cree East, concentrating on Zones A, G and H

We have “closed in” on the targets of interest. Drilling will resume in January 2011


Cree East Project


Cree East Project

Scale of known mines transposed to exploration targets at Cree East

This is a large area with potential for manyproductive targets

ZONE G


Fond Du Lac Project

CanAlaska’s drilling is discovering NEW uranium zonesFond du Lac Deposit

A partnership with a local community

Hole FLC 01740.2 metres @ 0.32% U3O8


2010 Drilling Program

January-May 2011 five drill projects

45 planned drill holes by May 2011

Minimum Nov-April expenditure of $7.5 Mil. on 4 projects ($2.3 Mil. net CVV)

2011 Budget est $10-15 Mil.

Further potential partners reviewing projects

2011 Drilling is Spread Over Five ProjectsWith Winter and Summer Programs

Drilling 2011


Other Projects

Fond du Lac: covers the area of the Fond du Lac Denesuline First Nation territory, located on the eastern end of Lake Athabasca. The project area is contiguous with CanAlaska's Poplar and Helmer projects, and contains an identified one million pound (historical non-compliant) uranium resource. New 43-101 completed for filing

NE Wollaston: straddles the border of northeast Saskatchewan and northwest Manitoba, 70 km north of Reindeer Lake. Multiple hi-grade uranium surface boulders. Permits issued for drilling

Grease River: 15 claims, located 50 km north west of the community of Black Lake. Large uranium target in granite ready for drilling by partner

Hodgson: 7 contiguous claims totaling 30,262 ha is located in the east central part of the Athabasca basin 27 km northwest of the McArthur River mine and 21 km west of the Cigar Lake deposit


Other Projects

Moon: 2 mineral claims covering 4,280 ha lying approximately midway between the McArthur River and Key Lake mines. The claim block is approximately 8 km east-southeast of the Millenium uranium deposit and due west of the newly-discovered Phoenix Zone on Denison’s Wheeler River project

Poplar: located on eastern arm of Lake Athabasca to the southeast of Uranium City contiguous with CanAlaska's Athabasca, Helmer and Fond Du Lac Projects. CanAlaska Uranium has a memorandum of understanding for the exploration of the Poplar project with East Resources Inc., China

Waterbury: 3 separate groups of claims located 12 km east from the Cigar Lake Deposit and 10 km south of the Midwest mine

Collins Bay Extension: Strategic project located on Rabbit Lake fault zone. New target defined east of operating mines. Seismic surveys completed summer 2010


Other Projects

Kasmere: adjacent to NE Wollaston Project providing the Company with contiguous property holdings along the entire length of the prospective Wollaston Belt in Manitoba

Key Lake: 3 separate, relatively small claim blocks, one 10 km ENE of the Key Lake Mine and the other two overlying basement rocks respectively 8 km SW and 12 km W of the Key Lake

Lake Athabasca: large project covers a section of Lake Athabasca southwest of the formerly producing Uranium City area, where former mine production was some 65 million pounds U3O8. The property includes both the lake and islands

Helmer: located on the southern shore of Lake Athabasca, 12 km west of Fond du Lac on the central northern edge of the Athabasca basin


Other Projects

Alberta: 20 km x 90 km block comprising of 13 contiguous permits totaling 97,147 ha covering most of the Alberta portion of Lake Athabasca

Arnold: contiguous block of 5 mineral claims totaling 24,285 ha located 30 km west of the McArthur River mine and 30 to 50 km north of the south rim of the Athabasca basin

Black Lake : located on the northern rim of the Athabasca Basin in Saskatchewan and covers 40,845 ha. The Black Lake project is the result of an Agreement with the Black Lake First Nation. Project host old producing uranium mine

Cluff Lake : a very large land position surrounding and on the west side of the Cluff Lake Dome, just north of the new uranium deposits at Shea Creek. Airborne surveys completed and 43-101 compilation report complete


Future Growth

Aggressive Exploration through:• Airborne EM• Drilling• Sediments/Seismic• Ground Resistivity

Focus in 2011 is drilling on our targets• Est. min 25,000 metres

Partnerships with 16 of our Projects• JV funding totals $42

Million on 5 of 21 projects


Summary

One of the largest landholders in the world’s most attractive uranium camp.

Rivals the holdings of Cameco and Areva - COMBINED

Proven exploration team supporting Management

Head of exploration co-discovered Cigar Lake.. and Managed Cogema (Areva) Operations

Experienced uranium crews of up to 100 active in field in 2005-2010

Significant exploration already completed with positive results

Sponsorship by Mitsubishi Development Pty. Ltd./Korean Consortium

6 seasons of intense target definition…. $75 million expended

Joint Venture funding totals $42 Million, (on 5 of 21 projects)

Strong First Nations involvement


AND NOW THE OTHER SIDE OF THE MARKET FOR URANIUM SUPPLY…..

MANUFACTURING AND GDP GROWTH

The Athabasca uranium deposits are located in a favourable and stable regimewhere long-term supply of product is assured. This then backs the guarantee of modern reactor “build and supply” contracts, and strongly supports, and enhancesthe value, of the bids by the manufacturers of nuclear reactors.

The manufacture and supply of nuclear power plants will be a major contributor to future economic growth in supply nations…..


THERE IS GROWTH IN THE DEMAND FOR NUCLEAR REACTORSAND THIS MEANS STRONG MANUFACTURING DEMAND FOR PLANT BUILDERS


COMPARITIVE MANUFACTURING VALUATION

2 Reactors with maintenanceAnd with fuel US $20 Billion…

France, Russia, (USA?)

without fuel… Say <<<? BillionKorea, Japan, China

} X 100!!

US $200 Million

This is the same as…Boeing 787

OR

Countries building reactors will maintain a strong manufacturing base. Manufacturers with uranium supply will have larger profits, and have a bigger advantage in the market


Properties Location

CanAlaska’s Uranium projects in the Athabasca Basin of Canada provide long term uranium supply options


Contacts

CanAlaska Uranium Ltd.Contact: Emil FungV.P. Corporate Development+1.604.688.3211 ext [email protected]

CHF Investor RelationsRobin CookSenior Account Manager(T) 416 868 1079Email: [email protected] www.chfir.com

Economy & Finance

Uranium exploration in the Canadian "Saudi Arabia"