CanAlaska Ventures Ltd. Phase IV Uranium Acquisition Complete

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Athabasca Basin, Saskatchewan, Airborne Surveys Underway

CanAlaska Ventures Ltd "CanAlaska" (TSX Venture: CVV – OTCBB: CVVLF), further to the announcement dated November 10th, announced today that it has completed its fourth phase of property acquisitions and has now acquired or applied for leases covering approximately 306,000 hectares (approximately 756,500 acres) or 3,060 square kilometres of prospective uranium claims in the Athabasca Basin, Saskatchewan. The Company holds a 100% interest in these project areas.

Harry Barr, Chairman of CanAlaska has stated, "We are well on our way to achieving our objective, which is simply to control one of the largest uranium exploration portfolios in the Athabasca Basin". The goal of the acquisition program is to position the Company and its shareholders for what CanAlaska believes will be the largest expansion in uranium exploration since the 1970s.

Highlights of the Company's acquisition activities in the area include:

•    Application for 101,661 hectares (250,000 acres) of the unconformity target, in Alberta, underlying the western end of Lake Athabasca

•    Applications for 25,565 hectares (63,171 acres), on the northern boundary of the Athabasca Basin unconformity southwest of Fond du Lac

•    Continuing identification of additional target areas

•    Further claim staking activities and lease applications

•    Active evaluation of other drill-ready targets

This program of acquisition and staking has proceeded through the Fall under the direction of recently appointed Manager of Uranium Exploration, Dr. Karl Schimann, and is expected to continue through the Winter, as the company works to rapidly develop its uranium exploration portfolio. CanAlaska's Canadian technical team is guiding the Saskatchewan acquisition process and preparing for the Athabasca Winter exploration program. In the US and Australia the Company's technical representatives are evaluating new acquisitions. Mr. Jim Kermeen, P. Eng, as Manager of Joint Venture Development, is currently negotiating with parties interested in participating in the Saskatchewan operations.

"MEGATEM" airborne geophysical surveys commenced in late 2004 and continue over the properties acquired in the eastern Athabasca Basin, immediately west of the McArthur River Uranium deposits, and further surveys of at least two more claim blocks are planned. As Peter Dasler, President of CanAlaska has noted, the use of such technology represents a "Quantum Leap" which continues to push new limits in the ability to detect mineral deposits from the air compared to previous technology.

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. The objective of CanAlaska's ongoing acquisition program is to establish the Company as a significant player in uranium exploration.

CanAlaska is also actively exploring for gold in the Hemlo Gold Belt and nickel in the Voisey Bay area of Labrador. In New Zealand the Company has assembled a series of grass roots and advanced gold exploration projects, which are budgeted for detailed exploration and drill testing in early 2005.

To learn more about the exploration and mining activities for Harry Barr publicly traded companies go to:

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

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 diversified mineral project portfolio

On behalf of the Board of Directors

"Harry Barr"

Harry Barr, Chairman

Investor Contact:

Spiros Cacos

Tel: 604.685.1870 Toll Free 1-800-667-1870



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