CanAlaska Ventures Limited October Monthly Uranium - Gold Report

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Phase II Uranium acquisition complete; major geophysical program slated to begin in Athabasca Basin, Saskatchewan.

Further to the announcement dated October 25, 2004, CanAlaska Ventures Ltd. "CanAlaska" http://www.canalaska.com (TSX Venture: CVV – OTCBB: CVVLF) announced that it had completed its second phase of property acquisitions and had acquired approximately 142,460 hectares (approximately 352,026 acres) or 1,425 square kilometers of prospective uranium claims in the Athabasca Basin, Saskatchewan. The Athabasca Basin hosts a number of major uranium deposits including Cigar Lake and McArthur River, two of the largest and highest grade uranium deposits in the world. Production from the Athabasca Basin currently accounts for 32% of the world's supply of uranium and this is expected to increase to 50% by the end of the decade.

The CanAlaska October Monthly Uranium – Gold Report can be reviewed at: http://www.canalaska.com/i/pdf/cvvmonthlyoct2004.pdf. Harry Barr, Chairman of CanAlaska stated, "Our objective is simply to control one of the largest uranium exploration portfolios in the Athabasca Basin." CanAlaska's Canadian technical team is currently set up in Saskatchewan working on the acquisition process and preparing for the Fall and Winter exploration programs. To view the Report on Business Television (ROB.TV) on CanAlaska go to: http://www.resourceopportunities.com/RobTV_lroulston.htm Report On Business Television.

About CanAlaska

CanAlaska is a mineral exploration company with uranium, gold, base and platinum group metal projects in Alaska, British Columbia, Labrador, Ontario, Quebec and New Zealand. Management's objective is to create shareholder wealth through the exploration and development of a diversified mineral project portfolio. In addition to staking, CanAlaska is actively negotiating on several other drill ready targets in order to rapidly develop its uranium exploration portfolio.

For additional CanAlaska Uranium Project information go to: http://www.canalaska.com/s/Projects.asp?ReportID=88871&_Type=Projects&_Title=Uranium-Project. To view a recent story in GeoShares.com go to: http://www.geoshares.com/canalaska.htm. For additional CanAlaska Uranium Project information go to: http://www.canalaska.com/s/Projects.asp?ReportID=88871&_Type=Projects&_Title=Uranium-Project. For a comprehensive June 2004 Briefing Paper entitled "Canada's Uranium Production & Nuclear Power issued by the Uranium Information Centre go to: http://www.uic.com.au/nip03.htm.

The qualified person for this release is Peter Dasler, P.Geo, President of CanAlaska Ventures Ltd.

To learn more about the exploration and mining activities for Harry Barr publicly traded companies go to: http://www.goldplatinumgroup.com.

On behalf of the Board of Directors

"Harry Barr"

Harry Barr, Chairman

The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release: CUSIP#137089108.

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.

Investor Contact:

Spiros Cacos

Manager Investor Relations

Tel: 604.685.1870 / 1-800-667-1870

Email: [email protected]

http://www.canalaska.com

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