The four-team tournament marks the first game action for the Canadian squad since last summer's Rugby World Cup, where it finished runner-up to England.
Canada opens Saturday against New Zealand in Calgary before playing the U.S. on July 1 in Red Deer and England on July 5 in Edmonton.
The 26-year-old Russell, who has 12 caps, leads a squad that includes 14 uncapped players.
"We have a number of vets on the team plus a number of new faces but we still have quite a lot of leaders that are coming back from the World Cup," she said in a statement. "It's a great mix. It's great to have new players who are eager to learn and can jump in anywhere but have the vets lead the way and keep it calm and organized.”
Russell, the younger sister of sevens star Kelly Russell, is one of 13 returning players from the World Cup squad.
"We have strong leaders from the World Cup last year," said coach Francois Ratier. "It makes sense to pick Laura as she's young and is the future of the team if you think long-term. She's also a leader and fits well into the role.
"She leads by example, we can trust her. That's wonderful to have in a captain. She has a great relationship with the staff and we can talk about game plans."