The Kalu'ak Fishing Derby takes place in Northrend every Saturday from 2:00pm - 3:00pm Realm Time.
Participants need to fish any Northrend school of fish until they get a single Blacktip Shark. You then need to go to Dalaran and turn your shark in to Elder Clearwater who is standing near the goldfish fountain.
If you're the first one to turn in, you win! If not, well you still get some random participation junk. The rewards for winning are the Dread Pirate Ring and Boots of the Bay. Good Luck!
A great place to start if you have questions or advice on professions in any version of World of Warcraft.
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