CanAlaska Uranium Ltd. announced that compilation work on the company's newly acquired North Millennium project in the eastern Athabasca Basin has identified two new uranium targets along a five kilometre conductor corridor. The targets are outlined by coincident magnetic breaks and electromagnetic conductor disruption just seven kilometres from Cameco's Millennium uranium deposit, host to 75.9 million pounds U3O8 indicated at 2.39% and 29 million pounds U3O8 inferred at 3.19%. The uranium mineralization at Cameco's Millennium deposit is hosted within the north-south trending Host Assemblage basement metasediments where the conductor corridor changes orientation from north-south to northeast-southwest. The Host Assemblage metasediments are hanging-wall to the "Mother Fault", a 10 metre-wide, strongly altered, north-south trending fault zone with a reverse sense of displacement (Figure 2). Previously documented genetic models of the Millennium uranium deposit have interpreted the Mother Fault to be the main conduit for ore-bearing fluids entering the basement rocks to form the deposit. Based on the regional magnetic data (Figure 2), a sharp break in the magnetic grain and a disruption of the conductors on the North Millennium project are observed immediately north of Cameco's Millennium deposit. These breaks create a strong north-south lineament which is interpreted to be the continuation of the Mother Fault onto the North Millennium project (Priority Area 1). This lineament pattern is similar to that of the Millennium deposit where a northeast-southwest trending conductive package intersects an interpreted north-south fault zone. Historical exploration work on the North Millennium project is limited to regional scale airborne and ground-based electromagnetic surveys and no drillholes have been completed on the project to date.