Uranium exploration in the Canadian "Saudi Arabia"


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Objective Capital's Industrial Metals, Minerals & Investment Summit 2010
London Chamber of Commerce and Industry
3 November 2010
Speaker: Peter Dasler, CanAlaska Uranium Ltd

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Uranium exploration in the Canadian "Saudi Arabia"

  1. 1. INDUSTRIAL METALS, MINERALS AND MINEABLE ENERGY INVESTMENT SUMMIT 2010 LONDON CHAMBER OF COMMERCE & INDUSTRY ● WEDNESDAY, 30 NOV 2010 www.ObjectiveCapitalConferences.com Uranium exploration in the Canadian "Saudi Arabia" Peter Dasler – CEO, CanAlaska Uranium
  2. 2. 3TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Disclaimer This slide show presentation 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
  3. 3. 4TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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 $42 million on 5 out of 21 projects  Strong First Nations involvement  Proven Management team • Head of exploration co-discovered Cigar Lake and managed Cogema (Areva) operations • Experienced Uranium crews .. up to 100 active in field 2005-10
  4. 4. 5TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Share Structure Share Price CDN$ 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
  5. 5. 6TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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
  6. 6. 7TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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
  7. 7. 8TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Partnerships
  8. 8. 9TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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)
  9. 9. 10TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Properties Location CanAlaska’s Uranium projects in the Athabasca Basin
  10. 10. 11TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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 profitable mining operations and weather all economic cycles  Rich history: Athabasca mines were profitable throughout the 1980-2001 “Nuclear Winter”
  11. 11. 12TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Athabasca’s Uranium
  12. 12. 13TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Athabasca Uranium Current Price (spot) $51.52 This 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
  13. 13. 14TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 What Does a Uranium Deposit Look Like? Areva’s “Sue” Deposit ORE ZONE 20 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
  14. 14. 15TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 “The Model”
  15. 15. 16TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Projects Athabasca Basin Arnold 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
  16. 16. 17TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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
  17. 17. 18TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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 2010 Twenty 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
  18. 18. 19TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Cree East Project
  19. 19. 20TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Cree East Project Scale of known mines transposed to exploration targets at Cree East This is a large area with potential for many productive targets ZONE G
  20. 20. 21TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Fond Du Lac Project CanAlaska’s drilling is discovering NEW uranium zones Fond du Lac Deposit A partnership with a local community Hole FLC 017 40.2 metres @ 0.32% U3O8
  21. 21. 22TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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 Projects With Winter and Summer Programs Drilling 2011
  22. 22. 23TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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
  23. 23. 24TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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
  24. 24. 25TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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
  25. 25. 26TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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
  26. 26. 27TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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
  27. 27. 28TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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
  28. 28. 29TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 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 regime where long-term supply of product is assured. This then backs the guarantee of modern reactor “build and supply” contracts, and strongly supports, and enhances the 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…..
  30. 30. 31TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 COMPARITIVE MANUFACTURING VALUATION 2 Reactors with maintenance And with fuel US $20 Billion… France, Russia, (USA?) without fuel… Say <<<? Billion Korea, 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
  31. 31. 32TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Properties Location CanAlaska’s Uranium projects in the Athabasca Basin of Canada provide long term uranium supply options
  32. 32. 33TSXV: CVV OTCBB: CVVUF Frankfurt: DH73/11/10 Contacts CanAlaska Uranium Ltd. Contact: Emil Fung V.P. Corporate Development +1.604.688.3211 ext 318 efung@canalaska.com CHF Investor Relations Robin Cook Senior Account Manager (T) 416 868 1079 Email: robin@chfir.com www.chfir.com