CanAlaska Uranium Ltd. (TSX-V: CVV) has announced that as of February 12, 2010, MC Resources Canada Ltd., a wholly-owned subsidiary of Mitsubishi Corporation, completed the C$11 million investment specified under the project's option agreement and earned a 50% ownership interest in the West McArthur uranium project. A joint venture was set up between CanAlaska West McArthur Uranium Ltd., a wholly owned subsidiary of CanAlaska Uranium, and MC Resources Canada Ltd.
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CANALASKA URANIUM LTD. is undertaking uranium exploration in twenty 100%-owned and three optioned uranium projects in Canada's Athabasca Basin -- the "Saudi Arabia of Uranium".
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