December 23, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) –  CanAlaska Uranium, Ltd. (CVVUF – OTCBB) (CVV – TSX Venture) said that it has received $4.68 million in funding from Korean Consortium comprising Hanwha Corp., Korea Electric Power Corp., Korea Resources Corp. and SK Energy Co. Ltd.,  in satisfaction of the consortium's total $19 million earn-in commitment for the Cree Lake uranium project in the Athabasca Basin, Canada. 

According to CanAlaska, the Korean Consortium now holds a 50% participating interest in the Cree East joint venture partnership, which is operated by CanAlaska.   

The company said that, in preparation for winter 2011 exploration on the Cree East project, preliminary geophysical surveying began in early December as part of a planned $3.58 million, 7,650 metre, 18-drill hole winter drill program.  

CanAlaska said it expects to carry out drill testing on three targets located within shallow lake-covered areas.

Canada-based CanAlaska Uranium is undertaking uranium exploration in twenty one uranium projects in Canada's Athabasca Basin.

=========

All of FinancialWire(tm)’s daily news offering is accessible via the FinancialWire(tm) website (at http://www.financialwire.net/). In addition, some premium content — normally available to subscribers only — is now being posted in its entirety, courtesy of Investrend Syndications (at http://www.investrend.com).

=========

Equity research on any public company is available through the Shareholders Research Alliance (go to http://www.investrend.com/synd0004 for more information).  Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com).  Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[hlmsmlh] [mnngmrls] [fnncngj] [bsnnssb] [dvcmntnmc] [ntrntnlcmpnsbsnss] [cndnexh] [ftrdnwswnd] [aznnza]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.