CanAlaska Expands West McArthur Pike Zone Footprint To 500 Metres Strike Length Pike Zone Mineralized Corridor Remains Open; Strengthening Target Vectors to West $15 Million 2026 Exploration Program Approved for West McArthur JV
CanAlaska Expands West McArthur Pike Zone
Footprint To 500 Metres Strike Length
Pike Zone Mineralized Corridor Remains Open; Strengthening Target Vectors to West
$15 Million 2026 Exploration Program Approved for West McArthur JV
Saskatoon, Saskatchewan--(Newsfile Corp. - November 6, 2025) -
CanAlaska Uranium Ltd. (TSXV:
CVV)
(
OTCQX: CVVUF) (FSE:
DH7)
("
CanAlaska
" or the "
Company
") is pleased to report that it has
completed the summer drill program on the West McArthur Joint Venture project (the "Project") in the
eastern Athabasca Basin (Figure 1). The summer program was focused on continued step outs from the
Pike Zone high-grade mineralization to evaluate for additional zones of uranium mineralization and
continuation of the associated large hydrothermal alteration system. During the program, the Company
successfully stepped out 250 metres west and 100 metres east, intersecting strong alteration, structure,
graphitic host stratigraphy, and multiple areas of unconformity-associated uranium mineralization.
Importantly, the western-most drill fences intersected strong alteration and uranium mineralization,
highlighted by drillholes WMA099 which intersected 2.5 metres at 0.82% eU
3
O
8
and WMA099-03 which
intersected 4.1 metres at 0.49% eU
3
O
8
, which indicate the strong hydrothermal mineralizing system
remains open and appears to be improving to the west along the C10S corridor. These drill fences
highlight the potential for additional mineralized pods.
Figure 1 – West McArthur Project Location
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CanAlaska CEO, Cory Belyk, comments,
"Following program and budget expansion in August, the
2025 drilling program at West McArthur comes to an end highlighted by some incredible results from
the winter and summer drilling programs. The summer program was primarily focused on step-out
drilling that delivered a greatly expanded mineralization footprint with clear indications of associated
strong alteration at the western-most end of the mineralized Pike Zone corridor drilled to date. Most
significantly, the intersected alteration and mineralization characteristics to the west are like those
observed in direct relationship to the Pike Zone high-grade mineralization reported from the winter
program. This very successful outcome will focus the start of the fully funded $15 million 2026 drilling
program scheduled to begin in early January. Continued expansion of Pike Zone is timely and comes
within the backdrop of renewed nuclear interest in North America as demonstrated by recent news on
October 28
th
of the United States initiating an $80 billion reactor deal with Westinghouse."
Figure 2 – Summer Drill Program Results
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2025 West McArthur Summer Drill Program Complete Following 2025 Budget Increase
The 2025 summer drill program on the West McArthur project is now complete. Based on positive initial
summer drill results, the 2025 exploration budget was increased by 13% in August. The program
consisted of twenty-two unconformity tests, thirteen of which contained uranium mineralization. The
primary objective of the summer program was focused step outs along strike on the C10S corridor to
evaluate for additional zones of uranium mineralization and continuation of the associated large
hydrothermal alteration system. The program was focused on understanding the key structural controls
and alteration vectors along strike in both directions of the Pike Zone footprint. During the program, the
Company successfully expanded the hydrothermal alteration footprint along the C10S corridor 250
metres to the west and 100 metres to the east of the Pike Zone, intersecting key alterations including
bleaching, clay, and sooty pyrite associated with fault structures and the graphitic host stratigraphy at the
unconformity and into the upper basement. In addition, the Company intersected uranium mineralization
associated with these structures and alteration zones on multiple drill fences moving to the west of the
main Pike Zone.
Most importantly, the last drill fences of the season completed on the western-most step out intersected
unconformity-associated uranium mineralization. Drillholes on these fences were highlighted by
WMA099 which intersected 2.5 metres at 0.82% eU
3
O
8
and WMA099-03 which intersected 4.1 metres
at 0.49% eU
3
O
8
. These drillholes indicate that the hydrothermal mineralizing system remains open to the
west along the C10S corridor and highlights the potential for additional high-grade mineralized pods
along strike. Along strike to the west of the Pike Zone, the unconformity target area was sparsely tested
over 250 metres strike length during the summer drill program and remains completely untested for
approximately 800 metres further west where alteration and fault structures were intersected in previous
drill programs. The results from the summer drill program show the same hydrothermal alteration
intensity, styles, and types as those that are observed in direct association with the Pike Zone near the
most significant high-grade intersections drilled to date (Figure 3). Results from the program indicate the
hydrothermal alteration, structural intensity, and uranium mineralization appear to be increasing to the
west along the C10S trend, highlighting the potential for additional zones of high-grade unconformity
uranium mineralization.
As a secondary goal, one infill drillhole was completed within the high-grade footprint of the Pike Zone in
support of the geological model. WMA094-08 intersected 4.3 metres at 5.89% eU
3
O
8
along L25E and
confirmed extension and continuity of the high-grade pod to the south along this drill section.
Geochemical assay results from the winter portion of the 2025 exploration program were released in July
(see News Release dated July 17, 2025) and confirmed the very high-grade nature of the Pike Zone.
Combined with the results of the summer program, the winter assay results also support continued
exploration along the C10S corridor for additional zones of uranium mineralization. Geochemical assay
results from the summer portion of the 2025 exploration program are pending.
The West McArthur project, a Joint Venture with Cameco Corporation, is operated by CanAlaska that
holds an 85.97% ownership in the Project. CanAlaska is sole funding the original 2025 West McArthur
program and budget and will further increase its majority ownership in the Project as a result. As per the
Joint Venture agreement, partner funding of the increased portion of the 2025 program and budget has
not yet been confirmed.
Figure 3 – Photographs comparing alteration and mineralization from WMA099 to WMA076-04.
Photograph A shows WMA076-04 which intersected two intervals of 0.5 metres at 0.1% U3O8 located
~13 metres east of WMA076-01 which intersected 14.8 metres at 14.71% U3O8 including 5.4 metres at
39.67% U3O8 in the high-grade core of the Pike Zone. Photograph B shows WMA099, completed this
summer, which intersected 2.5 metres at 0.82% eU3O8. The drillholes both have a strongly bleached
and limonite altered lower sandstone (blue outline), followed by above a zone of unconformity-associated
dark grey sooty pyrite (orange outline), and strongly altered basement (green outline). Note: For
WMA076-01 and WMA076-04 details, see Press Release dated July 17th, 2025.
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2026 West McArthur Program and Budget Approved
A $15 million 2026 exploration program and budget on the West McArthur project has been approved.
This represents a 20% increase over the 2025 program and budget. Program and funding details will be
reported at a later date.
Drillhole Details - Western Step Outs From Pike Zone
Seventeen drillholes were completed stepping out to the west during the summer exploration program.
Twelve drillholes in this target area contained uranium mineralization (Table 1). The lower sandstone
column of the drillholes is strongly bleached with limonite alteration extending 90 to 120 metres above
the unconformity. Within the lower sandstone column, multiple metre-scale fault zones were intersected
and are characterized by hydrothermal dravitic breccias and veins with localized re-activation, and zones
of quartz dissolution. Unconformity-associated uranium mineralization is characterized by blebby,
nodular, and disseminated mineralization associated with strong clay, hematite, and sooty pyrite.
Basement-hosted uranium mineralization is characterized by blebby, disseminated, foliation-parallel and
structurally controlled mineralization associated with hematite, chlorite, and clay alteration. The basement
of the drillholes is bleached, clay, and chlorite altered as a halo about re-activated graphitic and chloritic
fault zones.
Drillhole Details - Eastern Step Outs From Pike Zone
Four drillholes were completed stepping out to the east during the summer exploration program. The
lower sandstone column of the drillholes is strongly bleached with limonite alteration extending 60 to 100
metres above the unconformity. Within the lower sandstone column, metre-scale fault zones were
intersected and are characterized by broken and blocky core with hydrothermal dravitic veins and zones
of quartz dissolution. The basement of the drillholes is clay and chlorite altered as a halo about re-
activated graphitic and chloritic fault zones.
Drillhole Details - Pike Zone Infill
One drillhole was completed within the high-grade footprint of the Pike Zone in support of the geological
model that contained uranium mineralization (Table 2). The lower sandstone column of WMA094-08 is
strongly bleached with limonite alteration extending 90 metres above the unconformity. Within the lower
sandstone column, multiple metre-scale fault zones were intersected and are characterized by
hydrothermal dravitic breccias and veins with localized re-activation, and zones of quartz dissolution.
Basement-hosted uranium mineralization is characterized by structurally controlled, foliation-parallel, and
disseminated to blebby mineralization associated with hematite, chlorite, and clay alteration. The
basement of WMA094-08 is strongly bleached, clay, and chlorite altered as a halo about the basement-
hosted mineralization within the re-activated graphitic and chloritic fault zones.
Table 1 - Radiometric Equivalent Uranium Grades
DDH
From
(m)
To
(m)
Length
(m)
5
Average Grade
(% eU
3
O
8
)
6
WMA095-04
1,4
825.5
825.9
0.4
0.29
WMA095-05
1,4
808.3
814.0
5.7
0.27
WMA095-06
1,4
818.8
819.2
0.4
0.18
WMA096
2,4
833.9
834.4
0.5
0.27
WMA096-01
2,4
821.8
822.7
0.9
0.16
WMA096-02
2,4
817.3
818.3
1.0
0.59
WMA096-02
2,4
819.4
821.7
2.3
0.10
WMA096-04
2,4
829.8
830.8
1.0
0.11
WMA099
3,4
813.5
816.0
2.5
0.82
WMA099-01
3,4
817.6
817.8
0.2
0.11
WMA099-01
3,4
832.5
832.8
0.3
0.17
WMA099-02
3,4
824.6
825.0
0.4
0.17
WMA099-02
3,4
826.0
827.2
1.2
0.10
WMA099-03
3,4
817.1
821.2
4.1
0.49
WMA099-04
3,4
818.0
819.4
1.4
0.24
1
.
WMA095-04, WMA095-05, WMA095-06 were drilled at an azimuth of 318˚ with an inclination of -76.6˚, collared at 477,248 mE / 6,396,492
mN, 600 m A.S.L. (UTM NAD83 Z13N) as daughter holes from WMA095. WMA095-04 intersected the unconformity at 811.1 metres,
WMA095-05 at 809.0 metres, and WMA095-06 at 819.2 metres.
2
.
WMA096, WMA096-01, WMA096-02, WMA096-04 were drilled at an azimuth of 300˚ with an inclination of -75.0˚, collared at 477,196 mE /
6,396,426 mN, 603 m A.S.L. (UTM NAD83 Z13N) as a pilot hole and subsequent daughter holes from WMA096. WMA096 intersected the
unconformity at 821.5 metres, WMA096-01 at 818.9 metres, WMA096-02 at 817.4 metres, and WMA096-04 at 825.9 metres.
3
.
WMA099, WMA099-01, WMA099-02, and WMA099-03, and WMA099-04 were drilled at an azimuth of 310˚ with an inclination of -75.0˚,
collared at 477,041 mE / 6,396,365 mN, 607 m A.S.L. (UTM NAD83 Z13N) as a pilot hole and subsequent daughter hole from WMA099.
WMA099 intersected the unconformity at 815.9 metres, WMA099-01 at 821.6 metres, WMA099-02 at 823.2 metres, WMA099-03 at 821.0
metres, and WMA099-04 at 815.0 metres.
4
.
Intersection interval is composited above a cut-off grade of 0.1% eU
3
O
8
with a maximum of 1.0 m of internal dilution.
5
.
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.
6
.
Radiometric equivalent ("eU
3
O
8
") derived from a calibrated gamma downhole probe.
Table 2 - Radiometric Equivalent Uranium Grades
DDH
From
(m)
To
(m)
Length
(m)
4
Average Grade
(% eU
3
O
8
)
5
WMA094-08
1,2
810.3
812.9
2.6
1.75
Including
3
810.4
812.1
1.7
2.09
WMA094-08
1,2
816.7
821.0
4.3
5.89
WMA094-08
1,2
823.1
823.9
0.8
1.85
Including
3
823.5
823.9
0.4
2.60
WMA094-08
1,2
827.6
829.0
1.4
0.83
WMA094-08
1,2
830.2
831.1
0.9
0.32
1
.
WMA094-08 was drilled at an azimuth of 313˚ with an inclination of -80.0˚, collared at 477,236 mE / 6,396,517 mN, 598 m A.S.L. (UTM
NAD83 Z13N) as a daughter hole from WMA094. WMA094-08 intersected the unconformity at 792.9 metres.
2
.
Intersection interval is composited above a cut-off grade of 0.1% eU
3
O
8
with a maximum of 1.0 m of internal dilution.
3
.
Intersection interval is composited above a cut-off grade of 2.0% eU
3
O
8
with a maximum of 1.0 m of internal dilution.
4
.
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.
5
.
Radiometric equivalent ("eU
3
O
8
") derived from a calibrated gamma downhole probe.
Use of Radiometric Equivalent Grades and Geochemical Assay Sampling Procedures
During active exploration programs drillholes are radiometrically logged using calibrated downhole
GeoVista NGRS and TGGS (Triple GM) gamma probes which collect continuous readings along the
length of the drillhole. Preliminary radiometric equivalent uranium grades ("eU
3
O
8
") are then calculated
from the downhole radiometric results. The probe is calibrated using an in-house algorithm calculated
from the calibration of the probe at the Saskatchewan Research Council facility in Saskatoon and from
the comparison of probe results against previously reported geochemical analyses. At extremely high
radiometric equivalent uranium grades, downhole gamma probes may become saturated, resulting in
the probe being overwhelmed, which in turn can create difficulties in accurately determining extremely
high-grade radiometric equivalent uranium grades, and a cap may be applied to the grade. The
equivalent uranium grades are preliminary and are subsequently reported as definitive assay grades
following sampling and chemical analysis of the mineralized drill core. In the case where core recovery
within a mineralized intersection is poor or non-existent, radiometric grades are considered to be more
representative of the mineralized intersection and may be reported in the place of assay grades.
Radiometric equivalent probe results are subject to verification procedures by qualified persons
employed by CanAlaska prior to disclosure.
All assay drill core samples from the program, completed as NQ -sized core, were shipped to the
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 U
3
O
8
wt% assay
by ICP-OES using higher grade standards. Assay samples are chosen based on downhole probing
radiometric equivalent uranium grades and scintillometer (SPP2 or CT007-M) peaks. Assay sample
intervals comprise 0.3 - 0.8 metre continuous half-core split samples over the mineralized intervals. With
all assay samples, one half of the split sample is retained and the other sent to the SRC for analysis. 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.
About CanAlaska Uranium
CanAlaska is a leading explorer of uranium in the Athabasca Basin of Saskatchewan, Canada. With a
project generator model, the Company has built a large portfolio of uranium projects in the Athabasca
Basin. CanAlaska owns numerous uranium properties, totaling approximately 500,000 hectares, with
clearly defined targets in the Athabasca Basin covering both basement and unconformity uranium
deposit potential. The Company has recently concentrated on the West McArthur high-grade uranium
expansion with targets in 2024 leading to significant success at Pike Zone. Fully financed for the
upcoming 2026 drill season, CanAlaska is focused on uranium deposit discovery and delineation in a
safe and secure jurisdiction. The Company has the right team in place with a track record of discovery
and projects that are located next to critical mine and mill infrastructure.
The Company's head office is in Saskatoon, Saskatchewan, Canada with a satellite office in Vancouver,
BC, Canada.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for
this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium
Ltd., who has reviewed and approved its contents.
On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, CEO and President
Tel: +1.306.668.6900
Email:
General Enquiry
Tel: +1.306.668.6915
Email:
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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.
Forward-looking statements are frequently identified by such words as "may", "will",
"plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and
results. Forward-looking statements are based on the current opinions and expectations of
management.
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.
Actual events or results may differ
materially from those projected in the forward-looking statements and the Company cautions against
placing undue reliance thereon.
The Company assumes no obligation to revise or update these
forward-looking statements except as required by applicable law.
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