CanAlaska Assays Return 25.4% U3O8 at West McArthur

New Assays Confirm High-Grade Uranium in Several Drill Holes from Summer Program and Continuity of Discovery

Additional Highlights Include 3.98% U₃O₈over 2.3 metres and 0.84% U₃O₈over 5.0 metres

Joint Venture Approves $10 Million Program and Budget for 2023

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) ("CanAlaska or the "Company") is pleased to announce that it has received assay results from the remaining drillholes completed during the 2022 program at the West McArthur project in the Athabasca Basin (Figure 1). The new geochemical assay results indicate multiple high-grade intersections over a 12.6 metre wide zone in WMA072-3, highlighted by 3.98% U3O8 over 2.3 metres from 845.9 to 848.2 metres, which contains a sub-interval of 25.40% U3O8 over 0.3 metres from 846.4 to 846.7 metres. Additionally, WMA070 returned 0.84% U3O8 over 5.0 metres from 808.5 to 813.5 metres. These new results complement the previously reported high-grade intersection of 2.4% U3O8 over 9.0 metres in WMA067 and provide a compelling target where the mineralized structure intersects the unconformity. The West McArthur project, a Joint Venture with Cameco Corporation, is operated by CanAlaska who currently holds a 79.3% ownership in the project.

Figure 1 – West McArthur Property Location Map

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2864/144433_3a953295345ebae7_002full.jpg

The Company recently completed its drill program on the West McArthur project (see press release dated September 29^th, 2022). The majority of the drill program was focused on high-grade basement-hosted uranium mineralization discovered in drillhole WMA067 (see press release dated July 15^th, 2022). WMA067 is located 6 kilometres along strike on the C10 South (C10S) conductive corridor and southwest of the Company's 42 Zone mineralization. As part of the discovery follow-up, eight drill tests were completed on the same fence or along strike of the WMA067 discovery hole. High-grade uranium mineralization has now been confirmed by assay in four drillholes in the discovery area at various elevations throughout the 40 to 50 metre wide graphitic horizon (Figure 2).

Figure 2 – Drill Hole Locations and Follow-Up Target Areas WMA067 Discovery

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2864/144433_3a953295345ebae7_004full.jpg

Next Steps

The Company believes that it has successfully identified the orientation of the controlling structure for the basement-hosted uranium mineralization as part of a larger fault system. The ideal target, where this controlling-structure, the larger fault system, and the 40 to 50 metre wide graphitic horizon intersect the unconformity, has not been drill-tested and remains a high-priority target for the next drilling program. Unconformity targeting will focus both in the discovery fence area and along strike including where WMA073 intersected a 40 metre wide strongly altered sandstone-hosted structure 200 metres above the unconformity. The broad sandstone fault is associated with anomalous pathfinder elements including uranium (1.17 ppm partial), copper (4.07 ppm partial), boron (1560 ppm total), and arsenic (3.46 ppm partial). In addition, the assay results confirm the high-grade basement-hosted nature of the uranium mineralization and suggest additional basement-hosted potential exists along strike of the discovery fence (Figure 2).

A formal 2023 exploration program and budget for $10 million has been approved by the Joint Venture.

Figure 3 – Close up Photograph of High-Grade Basement Mineralization in WMA072-3

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/2864/144433_canalaskafigure3.jpg

Mineralization Details

Multiple intervals of metre to sub-metre scale high-grade uranium mineralization were confirmed in WMA067, WMA067-4, WMA070, and WMA072-3 (Table 1). The uranium mineralization is characterized by massive to semi-massive, vein-controlled, and foliation-controlled pitchblende with variable amounts of yellow to orange uranium secondaries (Figure 3). The main controlling structure is hosted within a wide, faulted graphitic package that contains both foliation-parallel and cross-cutting faults. The basement rocks around the mineralized intervals are altered with clay, chlorite, hematite, and carbonate. To date, mineralization has been intersected between 20 and 100 metres vertically below the unconformity.

CanAlaska CEO, Cory Belyk, comments, "To intersect uranium mineralization up to 25% U₃O₈ composite grade is a huge accomplishment for the team. The summer program clearly highlights the potential of this new discovery to host very high-grade uranium and when coupled with the drill-intersected structure and alteration in both the sandstone and basement, this new discovery truly appears to be a potential tier 1 mineralizing event. This is exactly what the CanAlaska team felt the project could deliver to shareholders and the next drilling program will focus on building upon this initial success. The program and budget for 2023 has been doubled based on these results and in the context of a continued strengthening of the uranium market fundamentals. We believe the timing could not be more perfect to move this new discovery forward."

Table 1 - 2022 Summer Program Uranium Intersections Assay Results

DDH	From (m)	To (m)	Length (m)⁶	Average Grade (% U₃O₈)	Maximum Grade (% U₃O₈)
WMA067^1,2	906.5	915.5	9.0	2.4	6.06
Including³	906.5	912.5	6.0	3.5	6.06

WMA067-4^1,2	887	888	1.0	0.89	1.68

WMA070²^,4	808.5	813.5	5.0	0.84	4.90
Including³	810.5	811.0	0.5	4.90	4.90

WMA072-3²^,5	845.9	848.2	2.3	3.98	25.40
Including³	846.4	846.7	0.3	25.40	25.40
WMA072-3²^,5	850.2	850.7	0.5	0.45	0.90
WMA072-3²^,5	853.7	856.5	2.8	0.57	1.82
WMA072-3^3,5	858.0	858.5	0.5	2.69	2.69
WMA067 and WMA067-4 were drilled at an azimuth of 325˚ with an inclination of -75.7˚, collared at 477,282 mE / 6,396,397 mN, 604 m A.S.L. (UTM NAD83 Z13N). Intersection interval is composited above a cut-off grade of 0.1% U₃O₈ with a maximum of 1.0 m of internal dilution. Intersection interval is composited above a cut-off grade of 2.0% U₃O₈ with a maximum of 1.0 m of internal dilution. WMA070 was drilled at an azimuth of 322˚ with an inclination of -82.0˚, collared at 477,258 mE / 6,396,517 mN, 599 m A.S.L. (UTM NAD83 Z13N). WMA072-3 was drilled at an azimuth of 313˚ with an inclination of -82.0˚, collared at 477,256 mE / 6,396,520 mN, 599 m A.S.L. (UTM NAD83 Z13N). All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined.

Geochemical Sampling Procedures

All drill core samples from the 2022 summer program were shipped to Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan in secure containment for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U₃O₈ wt% assay by ICP-OES using higher grade standards. Radiometric assay samples are chosen based on downhole probing radiometric equivalent uranium grades and scintillometer (SPP2 or CT007-M) peaks. Assay samples comprise 0.3 - 0.5 metre continuous split-core samples over the mineralized interval. A 0.1% U₃O₈ cut-off with a maximum internal dilution of 1 metre is used for compositing and reporting the data. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by CanAlaska and the SRC in accordance with CanAlaska's quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by CanAlaska prior to disclosure.

All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined.

Other News

CanAlaska will be attending and presenting at The Northern Miner Canadian Mining Symposium in London on November 28^th. Canadian Mining Symposium 2022 - The Northern Miner Symposiums

CanAlaska will also be attending and presenting at the Mines and Money London "Resourcing Tomorrow" event from November 29^th to December 1^st. Visit our team and learn more about the Athabasca Basin's most recent high-grade uranium discovery and our 2023 exploration plans. Mines and Money London | 29 November - 1 December 2022 | Europe's largest mining investment event

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: 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.
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.

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CanAlaska Uranium TSXV:CVV Energy 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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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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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that it has entered into an option agreement ("Agreement") with a private arm's-length company, UraEx Resources Inc. (the "Optionee" or "UraEx"), whereby the Optionee may acquire up to a 100% interest in the Company's South Dufferin and Bolt Uranium Projects (collectively, the "Property"). The Property consists of a total of twelve (12) mineral claims totalling approximately 18,000 hectares located in the Athabasca Basin, Northern Saskatchewan. UraEx can earn an initial 51% in the Property through CAD $4,600,000 in combined project consideration and up to 100% through $9,800,000 in combined project consideration consisting of cash and share payments as well as exploration expenditures over a five-year period.

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Baselode Reports High-Grade Uranium Assays on its ACKIO Prospect

Two drill holes intersect high-grade uranium: Both returned over 1% U₃O₈ across 1.5 metres

Hole AK24-118 intersected 8.5 metres of 0.59% U₃O₈, while AK24-119 returned 21.0 metres of 0.28% U₃O₈, enhancing our understanding of uranium mineralization in Pod 6

Baselode's ACKIO has a unique advantage that distinguishes it from its peers in the Athabasca Basin, given its shallow mineralization

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide uranium ("U3O8") assay results from 3 of 43 drill holes of the 2024 drill program on the ACKIO prospect ("ACKIO") in the Athabasca Basin ("Basin") area of northern Saskatchewan.

"Baselode's ACKIO prospect stands out among its peers due to the shallow depth of its mineralization, especially compared to the much deeper deposits elsewhere in the Basin. We are highly encouraged by the results from holes AK24-118 and AK24-119, as they are the best intersections in Pod 6 and rank among the top 20 drill holes at ACKIO. These results strengthen our confidence in ACKIO. It's remarkable that, just over three years after discovering ACKIO, we're still achieving better-than-expected grades and widths," commented James Sykes, CEO, President, and Director of Baselode."

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Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") is pleased to announce its 2024 drilling program at the 100% owned Aberdeen Uranium Project has concluded after thirty diamond drill holes were completed between late June and late September for a total of 6,962 metres. The program covered 5 of the more than 20 identified gravity targets on the 95,000-hectare property including the two existing discoveries at Tatiggaq and Qavvik. The Aberdeen Project is located adjacent to Orano's Kiggavik deposit which hosts 133 million pounds of uranium grading at 0.54% U3O8*. Assays are currently being processed at the SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan with results expected mid to late October due to a backlog at the facility. Further to its news release dated August 20, 2024, Forum continues to intersect uranium mineralization and intense alteration within favourable structural and lithological corridors for unconformity-style uranium deposits in an emerging uranium district comparable to the prolific Athabasca Basin (Figure 1).

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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

Date	Cash Payments	Exploration Expenditures	Value of Shares Issued
On Closing	$50,000	$0	$150,000 ⁽¹⁾
On or before the first anniversary of Closing	$100,000	$500,000 ⁽²⁾	$250,000 ⁽³⁾
On or before the second anniversary of Closing	$100,000	$1,000,000	$250,000 ⁽³⁾
On or before the third anniversary of Closing	$200,000	$1,500,000	$500,000 ⁽³⁾
TOTAL	$450,000	$3,000,000	$1,150,000

DDH	Intended Target	East	North	Elevation	Az.	Dip	EOH	Radioactivity (>300 cps)	Assay Results (>0.05 wt% U₃O₈)
AK24-117		526142	6372902	465	90	-75	227	368 cps over 0.45 m at 74.4 m	0.09% over 0.45 m at 74.4 m
								301 cps over 1.8 m at 108.3 m	No significant results
	Pod 6 - updip							409 cps over 6.25 m at 117.25 m	0.07% over 0.5 m at 118.0 m 0.06% over 1.0 m at 121.5 m
	Pod 6 - updip							426 cps over 12.55 m at 128.1 m	0.07% over 7.5 m at 128.5 m 0.05% over 1.5 m at 139.0 m
	Pod 6 - updip							327 cps over 6.4 m at 145.2 m	0.11% over 1.0 m at 145.5 m
								399 cps over 0.65 m at 160.95 m	0.08% over 0.5 m at 161.0 m
AK24-118		526142	6372902	465	118	-71	257	456 cps over 0.8 m at 89.3 m	0.15% over 0.85 m at 89.2 m
								350 cps over 0.5 m at 92.7 m	0.09% over 0.3 m at 92.7 m
	Pod 6 - southern strike							392 cps over 2.6 m at 119.1 m	0.09% over 1.1 m at 119.4 m
	Pod 6 - southern strike							315 cps over 3.1 m at 131.8 m	0.05% over 0.5 m at 133.0 m
	Pod 6 - southern strike							1,115 cps over 13.3 m at 149.3 m	0.59% over 8.5 m at 153.0 m
							Includes		1.25% over 1.5 m at 155.5 m
AK24-119	Pod 6 - northern strike	526133	6372907	463	65	-75	230	300 cps over 8.5 m at 109.5 m	0.07% over 0.5 m at 104.5 m
	Pod 6 - northern strike							907 cps over 34.05 m at 131.1 m	0.28% over 21.0 m at 141.0 m
	Pod 6 - northern strike						Includes	9,173 cps over 0.4 m at 144.6 m	1.55% over 1.5 m at 143.5 m
3 DDH							7,372.4	3 DDH	3 DDH

NOTES: East and North units are metres using NAD83 datum, UTM Zone 13N
Elevation is recorded as "metres above sea level"
Az. = Azimuth, EOH = End of hole (measured in metres)
Composite "Radioactivity (>300 cps)" results use 300 cps cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is
Composite "Radioactivity (>300 cps)" results for "Includes" use 5,000 cps cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is
Composite "Assay Results (>0.05 wt% U₃O₈) results use 0.05% U₃O₈ cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is 3O₈)
Composite "Assay Results (>0.05 wt% U₃O₈" ) for "Includes" use 1.00% U₃O₈ cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is 3O₈)

Effective Date/ Date Effective :	le 3 OCT 2024
Symbol/ Symbole :	TCEC
New CUSIP/ Nouveau CUSIP :	88100M 10 5
New ISIN/ Nouveau ISIN :	CA 88100M 10 5 9
Old/Vieux CUSIP & ISIN :	88825J106/CA88825J1066

CanAlaska Assays Return 25.4% U3O8 at West McArthur

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