CanAlaska Announces Waterbury South Uranium Targets Extended in Latest Winter Drill Program

Strong Clay and Sulfide Alteration Halo Associated With Previously Discovered Polymetallic Uranium Mineralization Extended

Structurally-Complex Area Identified in Sandstone and Deep Into Basement

Update on Corporate Activities in the Athabasca Basin and Thompson Nickel Belt

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce the successful completion of the 2022 drilling program at its 100%-owned Waterbury South uranium project. The project is located approximately 10 km southeast of the producing Cigar Lake uranium mine in the Eastern Athabasca Basin (Figure 1).

Figure 1 - Property location map for the Waterbury South project.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2864/118720_3b10fe44b442ebe8_001full.jpg

The drill program was focused on extending and understanding the geological controls of the polymetallic unconformity uranium mineralization associated with nickel, arsenic, cobalt, and zinc, intersected during the previous 2021 winter drill program (see News Release dated June 17, 2021). Program objectives were successfully met with the completion of six drill holes totalling 2,787 metres (m). Results indicate a structurally-complex fault system that extends the footprint of previously intersected strong sandstone and deep basement alteration.

Figure 2 - Drillhole section along WAT009 and WAT010 showing the distribution of the strong alteration and structure in the lower sandstone and basement along the fence.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2864/118720_3b10fe44b442ebe8_002full.jpg

Drillhole WAT010, drilled along the same fence as WAT009, targeted the unconformity projection of strong faulting intersected in the basement of WAT009. WAT010 intersected the unconformity target approximately 52 m north of WAT009 on section. The drillhole intersected a strongly altered and structured lower sandstone column with strong bleaching, pyrite, clay alteration, secondary hematite, desilicification, and clay-replaced sandstone (Figure 2). Strong bleaching and chlorite alteration extends over 60 m into the basement on WAT 010 and is associated with quartz-carbonate healed breccias that contain brittle reactivation . Based on the intensity of structure and alteration in the sandstone column, WAT010 is interpreted to have overshot the ideal target at the unconformity. The results on this fence from both 2021 and 2022 drilling indicate that strong hydrothermal alteration and fault structures are present above the unconformity and extend deep into the basement indicating the possible presence of a large mineralizing event nearby.

Drillhole WAT012 to the east of WAT010 confirmed the strike extension of strong alteration within WAT009 and WAT010. WAT012 intersected the unconformity approximately 55 m east of WAT009 (Figure 3). The lower sandstone column contains a five metre wide zone of strong hydrothermal alteration including bleaching, patches of strong black sulfide alteration, clay and chlorite, similar to WAT009 and WAT010. The strong bleaching and clay alteration extends into the upper four metres of the basement. Nearly 70 m below the unconformity, a series of 1 to 4 m wide strongly graphitic and re-activated fault zones characterized by broken core and quartz-carbonate healed breccias were intersected indicating further evidence of a major graphitic fault system in the basement. WAT012 is interpreted to have undershot the ideal target at the unconformity. WAT 014 was drilled to test the structural complexity in the area; it intersected bedding-controlled sulfide alteration throughout the lower sandstone column.

Figure 3 - Map of the Waterbury South project shows the complex structural relationship between the drillholes completed to date and the currently defined sandstone alteration.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2864/118720_3b10fe44b442ebe8_003full.jpg

The drillholes completed during the program show evidence for multiple orientations of re-activated fault structures. These fault structures are parallel and cross-cutting to the basement stratigraphy in the area. In other uranium deposits such as Eagle Point, cross-cutting and splay faults play a very important role in controlling and localizing fluid movement along the main graphitic structures. In the case of Eagle Point, these cross-cutting and splay structures can be strongly altered and mineralized for several hundred metres away from the mine area. The sandstone and deep basement faults with strong alteration are indicative of the presence of hydrothermal processes generally associated with a uranium mineralizing event. Given the structural complexity encountered in the 2022 program, the Company is investigating use of high resolution geophysical surveys to plan the next phase of drilling.

Geochemical assay results for the 2022 drilling program are pending.

CanAlaska VP Exploration, Nathan Bridge, comments, "The CanAlaska team set out to understand the controls on the previously discovered polymetallic unconformity uranium mineralization in WAT009. The strong alteration system in WAT009, that is host to high-grade nickel-sulfides and associated uranium mineralization, was extended to the east and remains open in several directions. The Waterbury South area is structurally-complex, with multiple fault orientations and deep basement alteration that suggests multiple periods of reactivation and hydrothermal fluid-movement, key to uranium deposit formation in the Athabasca Basin. The results obtained during this drill season are promising and several kilometers of strike length remain open along this structural corridor."

CanAlaska CEO, Cory Belyk, comments, "The 2022 program significantly increased our knowledge of the polymetallic uranium mineralization drilled in 2021. Continuation of strong sandstone and deep basement alteration along major structures is very encouraging and is an important aspect in nearly all uranium deposits in the Basin, specifically basement-hosted uranium deposits such as Eagle Point, where altered and mineralized cross-structures extend for several hundred metres away from the main deposit. The team did a great job of working out the geology and results from this program have generated nearby targets for the next round of drilling."

Corporate Update

West McArthur Drill Preparation:

The Company has nearly completed its detailed Stepwise Moving Loop Time Domain Electromagnetic Survey (TDEM) on its West McArthur Joint Venture project. The geophysical survey is part of the approved $5 million 2022 exploration program. Preliminary survey results show multiple strong conductive responses along the Grid 5 trend that appear to be associated with newly interpreted potential folds and fault structures. The Company anticipates the program will be complete in early April and targets from the survey will be ready for drill testing during the upcoming summer exploration program.

Key Extension Ground Gravity Survey:

A ground gravity survey at the Company's new Key Extension project is over 50% complete. Preliminary processing of the data has identified a series of gravity low features that are associated with conductors on the property. These initial results are encouraging as this association is common in many basement-hosted uranium deposits. The Company plans to release the results of the survey once the full data set has been received and final processing has been completed in preparation for the inaugural drilling program later in the year.

Manibridge Drill Program

Drilling at the Company's Manibridge project is ongoing. The drilling program is being fully funded by Metal Energy Corp. as part of a staged earn-in option agreement. Metal Energy have earned a 49% interest in the property and have elected to proceed with the 70% earn-in option. CanAlaska is the current operator on the project and drilling is ongoing.

Hunter Geophysics

In the Thompson Nickel Belt, the Company is preparing for an airborne VTEM survey on it's 100%-owned Hunter nickel project.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska's Vice President, Exploration.

On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.

Contacts:

Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118720

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CanAlaska Uranium TSXV:CVV Uranium Investing

CVV:CA

CanAlaska Increases Private Placement Financing to $12 Million

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") announces that further to its news release of November 20, 2023, due to increased demand, it is increasing the total gross amount to be raised under its non-brokered private placement to $12 million (the "Offering"). The Offering will be comprised of a combination of: (i) non-flow-through units (the "NFT Units") to be sold at a price of $0.36 per NFT Unit; (ii) flow-through units of the Company (each, a "FT Unit") to be sold at a price of $0.425 per FT Unit; and (iii) flow-through units to be sold to charitable purchasers (each, a "Charity FT Unit") to be sold at a price of $0.5575 per Charity FT Unit.

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CanAlaska Announces up to $7.5 Million Private Placement Financing

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") announces that it proposes to undertake a non-brokered private placement of securities to raise total gross proceeds of up to $7.5 million (the "Offering"). The Offering will be comprised of a combination of: (i) non-flow-through units (the "NFT Units") to be sold at a price of $0.36 per NFT Unit; (ii) flow-through units of the Company (each, a "FT Unit") to be sold at a price of $0.425 per FT Unit; and (iii) flow-through units to be sold to charitable purchasers (each, a "Charity FT Unit") to be sold at a price of $0.5575 per Charity FT Unit.

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CanAlaska Uranium Ltd. and Core Nickel Corp. Announce Closing of Spin-Out Plan of Arrangement

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") and Core Nickel Corp. ("Core Nickel") are pleased to announce that further to CanAlaska's press releases dated September 5, 2023 and October 26, 2023, the plan of arrangement spin-out transaction (the "Arrangement") has closed effective November 10, 2023 (the "Effective Date").

Completion of the Arrangement, as set forth in the arrangement agreement dated September 1, 2023 (the "Arrangement Agreement"), entered into between the CanAlaska and Core Nickel, was approved by the shareholders of CanAlaska (the "CanAlaska Shareholders") on October 25, 2023; by a Final Order granted by the Supreme Court of British Columbia on October 31, 2023, in accordance with Part 9 of the Business Corporations Act (British Columbia), and accepted by the TSX Venture Exchange (the "TSXV").

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Foremost Clean Energy Completes First Phase of Option Agreement with Denison Mines for Interest in 10 Uranium Properties in the Athabasca Basin

Denison becomes Foremost's largest shareholder at 19.95%

Foremost Clean Energy Ltd. ( NASDAQ: FMST ) ( CSE: FAT ) (" Foremost Clean Energy ", " Foremost " or the " Company "), an emerging North American uranium and lithium exploration company, is pleased to announce today that, further to its announcement of September 23, 2024, it has now completed Phase One of its transaction (the " Transaction ") with Denison Mines Corp. (" Denison "), acquiring 20% of Denison's interest (the " Phase One Interest ") in 10 uranium exploration properties covering over 330,000 acres in the Athabasca Basin in Northern Saskatchewan (the " Exploration Properties "). In addition to other considerations, Denison was issued from treasury 1,369,810 common shares in the capital of Foremost (the " Common Shares ").

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Denison Files Early Warning Report in Respect of Foremost Clean Energy Ltd.

Denison Mines Corp. (" Denison " or the " Company ") (TSX: DML) (NYSE American: DNN) announces that it has filed an early warning report, under National Instrument 62-103, in respect of its holdings in Foremost Clean Energy Ltd. (" Foremost ") (NASDAQ: FMST) (CSE: FAT). On October 4, 2024 Denison acquired an aggregate of 1,369,810 common shares of Foremost (the " Foremost Shares ") pursuant to the option agreement dated September 23, 2024 (the " Option Agreement "), as consideration for Foremost's acquisition of an initial 20% of Denison's interest in 10 uranium exploration properties (the " Share Issuance "). View PDF version

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Energy Fuels to Host Conference Call on Acquisition of Base Resources

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), an industry leader in the U.S. production of uranium and rare earth elements ("REE"), will hold a conference call on Monday, October 7, 2024, at 9:00 AM Eastern Time to discuss its recently completed acquisition of Base Resources Limited.

Details of the acquisition were distributed in a previous press release available on the company's website on the investor section.

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IsoEnergy to Acquire Anfield Energy, Strengthening US Uranium Portfolio

IsoEnergy (TSX:ISO,OTCQX:ISENF) announced plans to acquire Anfield Energy (TSXV:AEC,OTCQB:ANLDF) on Wednesday (October 2), strengthening its position in the US uranium market.

The purchase will secure IsoEnergy’s access to two of the only three licensed uranium mills in the US, which it says will help solidify its reputation as a significant player in the domestic uranium market.

Anfield wholly owns the Utah-based Shootaring Canyon mill, as well as various uranium and vanadium projects across the Western US, including key areas in Utah, Colorado, New Mexico and Arizona.

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GLOBAL ATOMIC PROVIDES UPDATE ON THE DASA PROJECT

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) is pleased to provide an update on its Dasa Project in the Republic of Niger . Dasa is the highest-grade uranium deposit in Africa currently under development, only surpassed by grades found in Canada's Athabasca Basin and is scheduled to achieve commercial production in early 2026.

PROJECT FINANCING

Debt financing discussions with a U.S. development bank are progressing with confirmation of the approval schedule expected in October 2024. The bank continues to voice support of the project and its intention to approve a debt facility for US$295 million , which will cover 60% of the planned project costs. Of the remaining 40% of the project funding, the Company has already invested approximately US$120 million .

Global Atomic is also in discussions with parties regarding potential joint venture investment and other financing solutions.

The extension of the expiry date of certain common share purchase warrants from September 17, 2024 to December 31, 2024 , was announced on September 13, 2024 . This extension is expected subject to final TSX approval.

SITE UPDATE – PROCESSING PLANT

The camp at Dasa has been expanding in phases to support the approximately 450 employees and contractors currently at the site, as well as the workforce expansion to 900 during the height of construction next year. A 60-person housing facility is nearing completion. Earthworks for the next camp phase to house 250 people are complete, and civils are now underway.

Earthworks for the Acid Plant is nearing completion. The local earthworks contractor will next move to prepare the site for the crusher with the SAG mill location to follow.

Processing plant equipment is beginning to arrive at site, beginning with components of the acid plant that were shipped through Nigeria. A video was recently posted on the Company's website ( https://globalatomiccorp.com/Operations/Uranium/Photos-and-Videos/default.aspx ) highlighting the remaining major components of the acid plant that have been built in India and are now ready for shipment.

SITE UPDATE – MINING

Mining activities at Dasa are advancing on several fronts. Having exceeded 1,200 meters of mine development, our Niger team, which operates under the SOMIDA company banner, has already brought 10,000 tonnes of development ore to surface and is segregating the mineralized material into low, medium and high-grade stockpiles, which will be used for plant commissioning at the end of 2025. The ramp to the ore body has been fully paved and the next phase of underground development is now underway.

To extend the mine development further the ventilation system is being expanded and the boring of a Main Fresh Air Raise is underway and now over 90% complete.

The mining team has not had a lost time incident since mining began 779 days ago. The Dasa workforce is approximately 98% Nigerien, including both experienced miners from a former underground mining operation, as well as local unskilled labour who are going through the Company training and mentorship program.

MINE PLAN UPDATE

The current Mine Plan announced on March 5, 2024 , is projected to produce 68.1 million pounds of Yellowcake over a 23-year period starting in 2026. The Mine Plan is based on throughput of 1,000 tonnes per day, however, the plant has been designed to handle up to 1,200 tonnes per day. An updated Mine Plan with higher production rates is scheduled for completion in Q4 2024.

President and CEO of Global Atomic, Stephen Roman , stated, " We continue to make excellent progress at the Dasa Project site as we complete site preparation for civil works to begin and installation of the Acid Plant as the first major component of the Dasa Processing Plant."

"Recent high-level inter-government discussions about the re-opening of the Niger / Benin border have been positive and we are hopeful for a near-term resolution. In addition, as the Niger Government is keen on supporting new projects in the Country, a committee with representatives from several key government ministries is being formed to expedite the resolution of any outstanding issues that may arise relating to mining, finance, transportation and labour within Niger ."

"Meanwhile the uranium market continues to heat up with higher spot prices this week. The long-term outlook for uranium demand is accelerating as announcements to expand the number of nuclear power reactors planned and approved proliferate. In September, we attended the World Nuclear Association Symposium in London , which for the first time was sold out. While there, we held successful update meetings with numerous utilities from across the globe which resulted in the initiation of several active contract discussions for Yellowcake supply from the Dasa Project."

"Two recent announcements illustrate the growth in uranium demand:

Microsoft and U.S. utility giant Constellation Energy have agreed to a long-term deal wherein Microsoft has agreed to purchase all the power from Constellation's 880MW Three Mile Island (TMI) reactor over a 20-year period at prices of US$100 per MWh to power Microsoft's data centers. This deal calls for a restart of TMI Unit 1 by 2028 and an investment of US$1.6B by Constellation Energy.
The COP28 goal of tripling nuclear energy capacity by 2050, has now garnered funding support from some of the world's largest financial institutions, which is expected to accelerate the demand for uranium and the need for new greenfield projects such as our advanced Dasa Project. This has significantly improved our options for the final funding of our project."

Please visit our website www.globalatomiccorp.com for the latest site development photos and videos.

About Global Atomic

Global Atomic Corporation ( www.globalatomiccorp.com ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

The Company's Uranium Division is currently developing the fully permitted, large, high grade Dasa Deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The "First Blast Ceremony" occurred on November 5, 2022 , and commissioning of the processing plant is scheduled for Q1, 2026. Global Atomic has also identified 3 additional uranium deposits in Niger that will be advanced with further assessment work.

Global Atomic's Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc recycling plant, located in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company's joint venture partner, Befesa Zinc S.A.U. (Befesa) holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe , Asia and the United States of America .

^{The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved". All information contained in this news release, other than statements of current or historical fact, is forward-looking information. Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.}

^{Forward-looking statements are based on the opinions and estimates of management at the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law. Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.}

^{The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.}

SOURCE Global Atomic Corporation

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Name of Director or Officer:	Position(s) with Core Nickel.
Misty Urbatsch	CEO, President, Director & member of audit committee
Harry Chan	CFO & Corporate Secretary
Shane Shircliff	Director & chair of audit committee
Karen Lloyd	Director & member of audit committee
Cory Belyk	Director

Option Phase	Portion of Denison's Interest Earned in Exploration Properties ⁽¹⁾	Cash or Stock Payment to Denison ⁽²⁾	Foremost Funded Exploration Expenditures
1	20% (to total of 20%)	$5,876,000 ⁽³⁾	Nil
2	31% (to total of 51%) ⁽⁴⁾	$2,000,000	$8,000,000 over 36 months
3	19% (to total of ~70%) ⁽⁵⁾	$2,500,000	$12,000,000 over 36 months

(1)	Under the terms of the Option Agreement, Foremost may acquire up to 70% of Denison's interest in the Exploration Properties. In the case of Hatchet Lake, which is subject to an existing joint venture arrangement with a third party, Foremost may acquire up to a 51% interest in the Hatchet Lake joint venture, representing slightly over 70% of Denison's current ownership interest.
(2)	For the cash or stock payments due to Denison for Phase 2 or Phase 3, the payment may be made in the form of cash or Foremost Shares, at the discretion of Foremost.
(3)	Foremost issued 1,369,810 common shares to Denison on October 4, 2024. Foremost's closing share price on the Canadian Securities Exchange on September 23, 2024 was $4.29, representing a total value of the issued shares of approximately $5,876,000. Prior to the Transaction Denison owned nil common shares of Foremost.
(4)	Cash or stock payment to Denison, and Foremost funded exploration expenditures to be completed within 36 months of the completion of Phase 1 of the Option Agreement. If the conditions of Phase 2 are not satisfied, Foremost shall forfeit the entirety of its interests in and rights to the Exploration Properties.
(5)	Cash or stock payment to Denison, and Foremost funded exploration expenditures to be completed within 36 months of the completion of Phase 2 of the Option Agreement. If the conditions of Phase 3 are not satisfied, Foremost shall forfeit a portion of its interests in and rights to the Exploration Properties such that Denison's interests in each of the Exploration Properties will be increased to 51% and operatorship shall revert to Denison.

CanAlaska Announces Waterbury South Uranium Targets Extended in Latest Winter Drill Program

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