CanAlaska Ventures Limited URANIUM EXPLORATION COMMENCES, Athabasca Basin, Saskatchewan

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CanAlaska to further URANIUM properties commitment to undertake 1,600 Â?line kilometres" of Â?MEGATEMÂ? airborne survey.

Further to the news release dated October 25, 2004 where CanAlaska Ventures Ltd. ("CanAlaska") http://www.canalaska.com (TSX Venture:CVV – OTCBB: CVVLF) announced a major land acquisition program in Saskatchewan, announced November 7, 2004 a further commitment to undertake a 1,600 "line kilometres" of "Megatem" airborne survey on two of its properties in the southeastern Athabasca Basin. The airborne surveys will provide the Company with detailed information on target zones on its land position west of the McArthur River Uranium deposit. The airborne surveys will commence before the end of November 2004.

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 accounts for 32% of the world's supply of uranium.

To see the Land Map map go to: http://www.canalaska.com/i/maps/CVV_Landposition_highres.jpg

According to CanAlaska President, Peter Dasler, "CanAlaska carried out a comprehensive analysis of the existing geological and geophysical data. Based on this work we identified and acquired properties that are well located and present considerable potential." To view an interview of Peter Dasler, President of CanAlaska Ventures Ltd. by Elsworth Dickson, Publisher of the Resource Channel go to:    

http://www.resourceschannel.com/video/nrtvcanalakadaslerinterv1meta.wvx

In addition to the land assembly, CanAlaska is negotiating on several other drill ready targets in order to rapidly develop its uranium exploration portfolio.

Smoke Lake

CanAlaska is also exploring for gold in the Hemlo Gold Belt, and has commenced a 1,500 metre drill program at its highly prospective Smoke Lake project. In addition airborne survey results are expected shortly on the Konrad nickel property in the Voisey Bay area of Labrador. In New Zealand CanAlaska has assembled a series of grassroots and advanced gold exploration projects, which are budgeted for detailed exploration and drill testing in early 2005.

Land acquisition is expected to continue through the fall and winter months in order to position the CanAlaska and its shareholders for what CanAlaska believes will be the largest expansion in uranium exploration since the 1970s. 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 preparing for its fall and winter exploration programs.

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.

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.

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