CanAlaska Commences West McArthur Uranium Drilling

Two Drills to Operate on Multiple Targets

Initial Focus on High-Grade Uranium Intersections at 42 Zone

Additional New Targets Identified With Latest Geophysical Program

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce its mobilization of drill crews and equipment as part of the approved $5 million 2022 program on the West McArthur uranium project in the eastern Athabasca Basin. The project is operated by CanAlaska. CanAlaska holds a 76.51% ownership in the project and will fully fund the exploration in 2022 to increase its interest in the Joint Venture.

Figure 1 – West McArthur Property Location Map

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2864/127026_6a287e41846f7b85_002full.jpg

The West McArthur project 42 Zone mineralization is located 12 kilometres west of Cameco and Orano's McArthur River uranium mine, within the Grid 5 survey area. Drilling to date has discovered a large sandstone alteration halo above high-grade uranium mineralization located at the unconformity. The 42 Zone controlling structure is part of the C10 fault corridor. The C10 fault corridor hosts the nearby Fox Lake uranium deposit to the northeast (68 M pounds U₃O₈ @ 7.99%), discovered by Cameco and Orano (Figure 1). During the 2021 drilling program, the Company successfully extended the 42 Zone mineralization, which now has a length of 120 metres and is open in at least three directions.

Figure 2 – 42 Zone and Extension Drill Targets

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2864/127026_6a287e41846f7b85_005full.jpg

The primary goal of the 2022 drill program is continued expansion of the 42 Zone, both to the northeast and southwest of the defined footprint (Figure 2). During the 2021 drilling program, the Company identified a new high-grade intersection of 1.62% eU₃O₈ over 2.6 metres (m) from 796.1 m within a 10 metre wide interval averaging 0.76% eU₃O₈(See Press Releases Dated April 14^th, 2022). Unfortunately, within the highest grade section of the mineralized zone in WMA063-1, strong clay alteration and faulting resulted in very poor core recovery and only 5% of the core was recovered over a 5.0 metre sub-interval from 767.4 - 772.4 m. It is important to note that a 10 cm interval of core taken from within the poor recovery zone returned an assay value of 3.01% U₃O₈. In addition, a large uranium and associated pathfinder metal elements halo in the sandstone, typical of the 42 Zone area was reported approximately 19 metres west of WMA063-1, in WMA065-1.

A second objective for the 2022 drill program is focused exploration of the 1.8 km 42 Zone Extension target area to test the strong alteration, structure, and uranium geochemistry identified in the 2021 drilling program (Figure 2). During the 2021 program, the Company identified anomalous uranium and copper values associated with a large alteration halo and fault zone in the basal sandstone of WMA062 and WMA062-1. The main fault zone, which is 51 metres wide at the unconformity in WMA062-1, is characterized by strongly disrupted sandstone with re-activated sandy-clay gouge, structurally-controlled quartz dissolution, grey sooty pyrite alteration, and pervasive strong bedding- and fracture-controlled quartz dissolution causing very poor recovery (0 - 30%). The basal sandstone associated with the fault zone contains anomalous uranium (> 0.5 ppm uranium partial) up to 8.6 ppm, copper (>1.0 ppm copper partial) up to 24.4 ppm, and boron (> 100 ppm boron total) up to 2,350 ppm that reach approximately 180 metres vertically above the unconformity. Below the unconformity and within the basement along this drill fence, the targeted fault zone is strongly altered with hematite, chlorite, clay replacement, and bleaching associated with re-activated chloritic clay gouges hosting angular clasts of wall rock and ductile shear fabrics. Hydrothermal alteration extends over 50 metres into the basement of both WMA062 and WMA062-1.

Figure 3 – 2022 TDEM Results Along C10 Conductive Corridor

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2864/127026_6a287e41846f7b85_006full.jpg

The third objective of this drill program is the testing of multiple new targets generated during the Time Domain Electromagnetic (TDEM) survey completed in the winter of 2022 (Figure 3). The TDEM survey confirmed the C10 conductive corridor extends over 7 km to the southwest of the 42 Zone with multiple conductive responses interpreted to be associated with targeted graphitic units in the basement rocks below the unconformity. The survey, coupled with historical geophysical data, has revealed an interpreted folded package that incorporates compressional and extensional faulting along northwest-southeast cross structures. Similarly oriented cross-cutting fault features have been mapped elsewhere along the trend, specifically associated with the 42 Zone mineralization. In addition, cross-cutting faults have been inferred along the C10 trend around the Fox Lake uranium deposit. Historical drill testing in the priority target areas did not test the ideal location where the strongest geophysical anomalies intersect the unconformity surface.

CanAlaska CEO, Cory Belyk, comments, "In addition to the continued discovery of high-grade uranium mineralization at the unconformity at 42 Zone and the recognition of several new priority target areas immediately to the southwest of 42 Zone in 2021, the 2022 winter work has now defined several additional and exciting new target areas along trend that were previously unknown. This new information has significantly increased the West McArthur target inventory providing additional discovery opportunity for our shareholders. With uranium market fundamentals continuing to strengthen on a global scale and the urgent need for increased clean energy production, continued advancement of the 42 Zone and these new targets is warranted for CanAlaska shareholders. The 2022 summer program is shaping up to be very significant for the company."

Other News

The Company will be participating in the Prospectors and Developers Association of Canada (PDAC) convention from June 13^th - 15^th, 2022. Please visit booth 2145 to speak with CanAlaska representatives about our exciting project portfolio and opportunities for Joint Venture development.

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.

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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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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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Skyharbour Enters Into Agreement to Option South Dufferin and Bolt Uranium Projects Located in the Athabasca Basin, Saskatchewan

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 Drilling Update, Aberdeen Uranium Project, Nunavut

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 Commences West McArthur Uranium Drilling

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