CanAlaska Cancels Financing, Drill Program Update Nisku drilling complete, West McArthur drilling expected
TSX Venture Exchange: CVV
NEWS RELEASE
CanAlaska Cancels Financing, Drill Program Update
Nisku drilling complete, West McArthur drilling expected
Vancouver, Canada, April 5, 2017 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB:
CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) will not be proceeding with the non-
brokered private placement announced February 22, 2017, due to market conditions. The
company remains active with third party property options and is adequately financed, with
$1,535,897 in the treasury at March 31, 2017.
West McArthur Uranium Project
Cameco has provided the Company with a furt her update, and by April 30, they expect to be
able to provide us with a program and budget for summer drilling at West McArthur. It is
expected that drilling will resume at Grid 5.
Nisku Copper-Zinc Drilling
The Company has completed four drill holes to depths of 140 to 260 metres from surface, to test
the Nisku geophysical targets located 12 kilome tres northeast of the past producing Ruttan
mine. Four holes were drilled at three sites. Preliminary logs show that at the first two sites, all
three drill holes intercepted semi-massive to massive sulphide mineralization. The
mineralization, principally pyrrhotite, is very exte nsive, with widths up to 16 metres of combined
massive and semi massive sulphide. The mineralization appears to be part of a large
volcanogenic massive sulphide system extending al ong strike for several kilometres. The fourth
drill hole intersected a more complex tuffaceous sequence that also included sections of
sulphide mineralisation. Quartz and/or feldsp ar porphyry dykes, quartz veining and extensive
chlorite and biotite are present in all drill holes indicating the presence of a hydrothermal
system. Drill assay results are expected in May.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests for uranium in
approximately 470,000 hectares (1.1 million acres), one of the largest land positions in Canada’s
Athabasca Basin region – the "Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted
major international mining companies Cameco, Deni son, KORES, and KEPCO. CanAlaska is a project
generator positioned for discovery success in the world’ s richest uranium district. For further information
visit www.canalaska.com.
The qualified technical person for this news release is Dr Karl Schimann, P. Geo, VP Exploration, for
CanAlaska.
On behalf of the Board of Directors
“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
News Release Page 2
April 5, 2017
President & CEO
CanAlaska Uranium Ltd.
Contacts:
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: [email protected]
John Gomez, Corporate Development
Tel: +1.604.484.7118
Email: [email protected]
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, event s 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 Comp any 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 s ubstantial 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.