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CVV.V ·

CanAlaska Uranium Ltd.: 660,000 Stock Options Granted to Directors and Officers

Share Capital & Compensation

CanAlaska Uranium Ltd.: 660,000 Stock Options Granted

to Directors and Officers

Vancouver, British Columbia--(Newsfile Corp. - January 25, 2018) -

CanAlaska Uranium Ltd. (TSXV:

CVV

) (OTCQB:

CVVUF

) (FSE:

DH7N

)

("CanAlaska" or the "Company") is reporting that it has granted incentive stock options to certain

directors and officers of the company to purchase up to an aggregate of 660,000 common shares of the company pursuant to

the company's share option plan. Directors have recently exercised 605,000 shares for their accounts. The options are

exercisable for a period of two years at a price of $0.395 cents per share.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV:

CVV

) (OTCQB:

CVVUF

) (FSE:

DH7N

) holds interests in approximately 152,000 hectares

(375,000 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

"Peter Dasler"

Peter Dasler, M.Sc., P.Geo.

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, 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.