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CVV.V ·

CanAlaska Grants Options

Share Capital & Compensation

CanAlaska Grants Options

Vancouver, British Columbia--(Newsfile Corp. - January 11, 2023) -

CanAlaska Uranium Ltd. (TSXV:

CVV) (OTCQX: CVVUF) (FSE: DH7N)

("CanAlaska or the "Company") announces that it has granted

incentive stock options to certain directors, officers, employees and consultants of the Company to

purchase up to an aggregate of 2,375,000 common shares of the Company pursuant to CanAlaska's

omnibus equity incentive plan. The options are exercisable for a period of two years at a price of $0.425

per share.

Other News

The Company will be attending the Vancouver Resource Investment Conference ("VRIC") on January

29

th

and 30

th

in Vancouver, BC and will have representatives at booth #435.

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

.

On behalf of the Board of Directors

"Cory Belyk"

Cory Belyk, P.Geo., FGC

CEO, Executive Vice-President and Director

CanAlaska Uranium Ltd.

Contacts:

Cory Belyk, Executive VP and CEO

Tel: +1.604.688.3211 x 306

Email:

[email protected]

General Enquiry

Tel: +1.604.688.3211

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, 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/150983