Geochemical Assays Confirm Additional High- Grade Unconformity Uranium Mineralization at CanAlaska's Pike Zone Drillhole WMA082-12 Intersected 17.0 Metres at 10.81% U 3 O 8 ; Including 10.5 Metres at 17.30% U 3 O 8 Drillhole WMA094-02 Intersected 6.5 Metres at 10.05% U
Geochemical Assays Confirm Additional High-
Grade Unconformity Uranium Mineralization at
CanAlaska's Pike Zone
Drillhole WMA082-12 Intersected 17.0 Metres at 10.81% U
3
O
8
; Including 10.5 Metres at 17.30%
U
3
O
8
Drillhole WMA094-02 Intersected 6.5 Metres at 10.05% U
3
O
8
; Including 2.0 Metres at 31.33%
U
3
O
8
Saskatoon, Saskatchewan--(Newsfile Corp. - March 18, 2025) -
CanAlaska Uranium Ltd. (TSXV:
CVV) (OTCQX: CVVUF) (FSE: DH7)
("
CanAlaska
" or the "
Company
") is pleased to report that it has
received the remainder of the assay results from the summer 2024 drill program completed on the Pike
Zone at the West McArthur project (the "Project"). Geochemical assay results confirm an additional high-
grade composited unconformity-associated uranium intersection on L85E in WMA082-12 which
intersected
17.0 metres at 10.81% U
3
O
8
, including 10.5 metres at 17.30% U
3
O
8
. In addition,
geochemical assay results confirm multiple high-grade composited unconformity-associated uranium
intersections on expansion drilling to the west on L0 and L15W. Expansion drilling confirmation results
are highlighted by WMA094-02 which intersected
6.5 metres at 10.05% U
3
O
8
,
including 2.0 metres
at 31.33% U
3
O
8
and WMA094-01 which intersected
9.0 metres at 5.54% U
3
O
8
,
including 3.6 metres
at 12.60% U
3
O
8
. The West McArthur project, a Joint Venture with Cameco Corporation, is operated by
CanAlaska that holds an 85.97% ownership in the Project (Figure 1). CanAlaska is sole-funding the
2025 West McArthur program and will further increase its majority ownership in the Project as a result.
Figure 1 – Project Location Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/244962_90d485e324dc2a60_002full.jpg
CanAlaska CEO, Cory Belyk, comments,
"Assay confirmation of the high-grade uranium
mineralization drilled in the summer 2024 program should provide ample evidence to our
shareholders that the CanAlaska team has a strong grasp on our radiometric equivalent grade
calculations. Final assay results from the summer drill program provide continued confidence in our
approach to distribute timely results to market from our high-grade Pike Zone discovery as the drilling
programs progress. With three drills currently working, the CanAlaska team remains focused on
definition and expansion of this new uranium discovery in the eastern Athabasca Basin located just
20 kilometres from the giant tier-1 McArthur River uranium mine."
Figure 2 – Plan View Showing Confirmed Summer Assay Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/244962_90d485e324dc2a60_003full.jpg
The 2024 summer drill program on the West McArthur project consisted of 12 unconformity tests at the
Pike Zone, 11 of which contained uranium mineralization. The results of the summer drill program
indicated a strike length of uranium mineralization along the unconformity target area of approximately
200 metres that remains open in all directions. Multiple drill fences within the unconformity target area
defined a high-grade core that remains open and extends over 100 metres in strike length. The assay
results received from the summer program to date confirm the high-grade radiometric equivalent grades
previously reported on the Project.
Figure 3 – Section View of L0 and L85E
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/244962_90d485e324dc2a60_006full.jpg
Drillhole Details:
WMA082-12 was completed along L85E (Figure 3). WMA082-12 intersected one main interval of
unconformity-associated uranium mineralization characterized by massive to semi-massive, blebby,
disseminated, and structurally controlled mineralization associated with strong sooty pyrite, bright red
hematite, and intense grey clay replacement alteration immediately around the unconformity contact
(Table 1). Within the mineralized interval, isolated intervals of core loss were recorded due to alteration
and quartz dissolution.
WMA082-14 was completed along L85E (Figure 3). WMA082-14 intersected several intervals of
basement-hosted uranium mineralization throughout the graphitic pelite (Table 2). These zones are
characterized by structurally controlled, disseminated, and foliation-controlled uranium mineralization.
WMA082-15 was completed along L70E. WMA082-15 intersected two intervals of basement-hosted
uranium mineralization along the controlling structures within the graphitic pelite (Table 3). These zones
are characterized by structurally controlled, disseminated, and foliation-controlled uranium mineralization.
WMA094 was completed along L0 (Figure 3). WMA094 intersected one main interval of unconformity-
associated uranium mineralization that is characterized by semi-massive, blebby, and disseminated
uranium mineralization associated with strong sooty pyrite and intense grey clay replacement alteration
(Table 4). Within the unconformity-mineralized interval, isolated intervals of core loss were recorded due
to alteration and quartz dissolution. WMA094 also intersected several intervals of basement-hosted
uranium mineralization throughout the graphitic pelite. These intervals are characterized by structurally
controlled, disseminated, and foliation-controlled uranium mineralization.
WMA094-01 was completed along L15W. WMA094-01 intersected one main interval of unconformity-
associated uranium mineralization characterized by massive to semi-massive, structurally controlled,
and disseminated mineralization associated with strong sooty pyrite, dark red hematite, and green-grey
clay replacement immediately around the unconformity contact (Table 5). Within the mineralized interval,
isolated intervals of core loss were recorded due to alteration and quartz dissolution. WMA094-01 also
intersected one interval of basement-hosted mineralization within the graphitic pelite characterized by
structurally controlled, disseminated, and foliation-controlled uranium mineralization.
WMA094-02 was completed along L0 (Figure 3). WMA094-02 intersected several narrow intervals of
sandstone-hosted uranium mineralization leading up to one main interval of unconformity-associated
uranium mineralization characterized by massive to semi-massive, structurally controlled, and
disseminated mineralization associated with strong sooty pyrite, dark red hematite, and green-grey clay
replacement immediately around the unconformity contact. (Table 6). Within the mineralized intervals,
isolated intervals of core loss were recorded due to alteration and quartz dissolution.
WMA094-03 was completed along L0 (Figure 3). WMA094-03 intersected two intervals of unconformity-
associated uranium mineralization characterized by structurally controlled and disseminated
mineralization associated with strong sooty pyrite, dark red hematite, and green-grey clay replacement
immediately around the unconformity contact (Table 7). Within the mineralized interval, isolated intervals
of core loss were recorded due to alteration and quartz dissolution. In addition, several intervals of
basement-hosted uranium mineralization were intersected throughout the graphitic pelitic rocks. These
zones are characterized by semi-massive, structurally controlled, and disseminated uranium
mineralization.
Table 1 - WMA082-12 Intersections with Geochemical Assay and Radiometric Equivalent
Intervals
WMA082-12 Intervals
1
From
(m)
To
(m)
Length
(m)
5
Average Grade
Maximum
Grade
(% U
3
O
8
)
(% U
3
O
8
)
(% eU
3
O
8
)
6
Interval 1 Breakdown
(2)
796.5
799.0
2.5
0.16
0.22
799.0
799.5
0.5
0.28
799.5
808.5
9.0
15.32
40.80
808.5
809.0
0.5
19.72
809.0
811.2
2.2
15.04
33.90
811.2
812.0
0.8
2.40
812.0
813.5
1.5
0.28
0.54
Composite Interval 1
(2,3)
796.5
813.5
17.0
10.81
40.80
Including
(3,4)
801.5
812.0
10.5
17.30
40.80
1
.
WMA082-12 was drilled at an azimuth of 295˚ with an inclination of -79.3˚, collared at 477,345 mE / 6,396,525 mN, 605 m A.S.L. (UTM
NAD83 Z13N) as a daughter hole from WMA082.
2
.
Intersection interval is composited above a cut-off grade of 0.1% U
3
O
8
/ eU
3
O
8
with a maximum of 1.0 m of internal dilution.
3
.
Composited intervals contain geochemical assay where core was recovered, and downhole radiometric equivalent uranium grades are inserted
in place of missing core intervals.
4
.
Intersection interval is composited above a cut-off grade of 2.0% U
3
O
8
/ 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 downhole gamma probe. No core was recovered within these intervals and
downhole radiometric equivalent uranium grades are inserted in place of missing core intervals.
Table 2 - WMA082-14 Intersections with Geochemical Assay Intervals
WMA082-14 Intervals
1
From
(m)
To
(m)
Length
(m)
4
Average Grade
(% U
3
O
8
)
Maximum
Grade
(% U
3
O
8
)
Interval 1
(2)
839.5
840.0
0.5
1.42
1.42
Interval 2
(2)
843.4
844.8
1.4
10.33
21.20
Including
(3)
843.8
844.8
1.0
14.36
21.20
Interval 3
(2)
846.2
846.7
0.5
0.19
0.19
Interval 4
(2)
847.7
848.7
1.0
0.19
0.22
Interval 5
(2)
879.0
879.4
0.4
1.05
1.05
1
.
WMA082-14 was drilled at an azimuth of 295˚ with an inclination of -79.3˚, collared at 477,345 mE / 6,396,525 mN, 605 m A.S.L. (UTM
NAD83 Z13N) as a daughter hole from WMA082.
2
.
Intersection interval is composited above a cut-off grade of 0.1% U
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% U
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.
Table 3 - WMA082-15 Intersections with Geochemical Assay Intervals
WMA082-15 Intervals
1
From
(m)
To
(m)
Length
(m)
4
Average Grade
(% U
3
O
8
)
Maximum
Grade
(% U
3
O
8
)
Interval 1
(2)
824.2
828.7
4.5
1.00
3.75
Including
(3)
824.7
825.2
0.5
3.23
3.23
Including
(3)
828.2
828.7
0.5
3.75
3.75
Interval 2
(2)
836.0
836.5
0.5
0.19
0.19
1
.
WMA082-15 was drilled at an azimuth of 295˚ with an inclination of -79.3˚, collared at 477,345 mE / 6,396,525 mN, 605 m A.S.L. (UTM
NAD83 Z13N) as a daughter hole from WMA082.
2
.
Intersection interval is composited above a cut-off grade of 0.1% U
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% U
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.
Table 4 - WMA094 Intersections with Geochemical Assay and Radiometric Equivalent Intervals
WMA094 Intervals
1
From
(m)
To
(m)
Length
(m)
6
Average Grade
Maximum
Grade
(% U
3
O
8
)
(% U
3
O
8
)
(% eU
3
O
8
)
7
Interval 1 Breakdown
(2)
790.7
791.6
0.9
0.17
791.6
796.8
5.2
0.98
7.38
Composite Interval 1
(2,3)
790.7
796.8
6.1
0.86
7.38
Including
(4)
794.3
794.8
0.5
7.38
7.38
Interval 2
(4,5)
807.7
810.0
2.3
3.18
10.10
Interval 3
(5)
812.9
813.3
0.4
1.45
1.45
Interval 4
(5)
816.9
820.7
3.8
0.40
1.38
Interval 5
(5)
822.2
823.6
1.4
0.92
3.01
Including
(4)
822.2
822.6
0.4
3.01
3.01
1
.
WMA094 was drilled at an azimuth of 313˚ with an inclination of -80.0˚, collared at 477,236 mE / 6,396,517 mN, 600 m A.S.L. (UTM NAD83
Z13N).
2
.
Intersection interval is composited above a cut-off grade of 0.1% U
3
O
8
/ eU
3
O
8
with a maximum of 1.0 m of internal dilution.
3
.
Composited intervals contain geochemical assay where core was recovered, and downhole radiometric equivalent uranium grades are inserted
in place of missing core intervals.
4
.
Intersection interval is composited above a cut-off grade of 2.0% U
3
O
8
with a maximum of 1.0 m of internal dilution.
5
.
Intersection interval is composited above a cut-off grade of 0.1% U
3
O
8
with a maximum of 1.0 m of internal dilution.
6
.
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.
7
.
Radiometric equivalent ("eU
3
O
8
") derived from a calibrated downhole gamma probe. No core was recovered within these intervals and
downhole radiometric equivalent uranium grades are inserted in place of missing core intervals.
Table 5 - WMA094-01 Intersections with Geochemical Assay and Radiometric Equivalent
Intervals
WMA094-01 Intervals
1
From
(m)
To
(m)
Length
(m)
7
Average Grade
Maximum
Grade
(% U
3
O
8
)
(% U
3
O
8
)
(% eU
3
O
8
)
8
Interval 1 Breakdown
(2)
791.5
792.7
1.2
1.62
3.27
792.7
794.3
1.6
5.82
794.3
800.5
6.2
6.23
35.60
Composite Interval 1
(2,3)
791.5
800.5
9.0
5.54
35.60
Including
(3,4)
792.3
795.9
3.6
12.60
35.60
Including
(5)
796.7
797.2
0.5
6.00
6.00
Interval 2
(6)
803.2
803.7
0.5
0.13
0.13
1
.
WMA094-01 was drilled at an azimuth of 313˚ with an inclination of -80.0˚, collared at 477,236 mE / 6,396,517 mN, 600 m A.S.L. (UTM
NAD83 Z13N) as a daughter hole from WMA094.
2
.
Intersection interval is composited above a cut-off grade of 0.1% U
3
O
8
/ eU
3
O
8
with a maximum of 1.0 m of internal dilution.
3
.
Composited intervals contain geochemical assay where core was recovered, and downhole radiometric equivalent uranium grades are inserted
in place of missing core intervals.
4
.
Intersection interval is composited above a cut-off grade of 2.0% U
3
O
8
/ eU
3
O
8
with a maximum of 1.0 m of internal dilution.
5
.
Intersection interval is composited above a cut-off grade of 2.0% U
3
O
8
with a maximum of 1.0 m of internal dilution.
6
.
Intersection interval is composited above a cut-off grade of 0.1% U
3
O
8
with a maximum of 1.0 m of internal dilution.
7
.
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.
8
.
Radiometric equivalent ("eU
3
O
8
") derived from a calibrated downhole gamma probe. No core was recovered within these intervals and
downhole radiometric equivalent uranium grades are inserted in place of missing core intervals.
Table 6 - WMA094-02 Intersections with Geochemical Assay and Radiometric Equivalent
Intervals
WMA094-02 Intervals
1
From
(m)
To
(m)
Length
(m)
6
Average Grade
Maximum
Grade
(% U
3
O
8
)
(% U
3
O
8
)
(% eU
3
O
8
)
7
Interval 1 Breakdown
(2)
786.5
787.0
0.5
0.81
0.81
787.0
788.0
1.0
0.20
Composite Interval 1
(2,3)
786.5
788.0
1.5
0.40
0.81
Interval 2
(4)
789.5
790.0
0.5
0.21
0.21
Interval 3 Breakdown
(2)
791.5
793.5
2.0
0.22
0.39
793.5
794.0
0.5
0.72
794.0
798.0
4.0
16.14
54.60
Composite Interval 3
(2,3)
791.5
798.0
6.5
10.05
54.60
Including
(5)
794.5
796.5
2.0
31.33
54.60
1
.
WMA094-02 was drilled at an azimuth of 313˚ with an inclination of -80.0˚, collared at 477,236 mE / 6,396,517 mN, 600 m A.S.L. (UTM
NAD83 Z13N) as a daughter hole from WMA094.
2
.
Intersection interval is composited above a cut-off grade of 0.1% U
3
O
8
/ eU
3
O
8
with a maximum of 1.0 m of internal dilution.
3
.
Composited intervals contain geochemical assay where core was recovered, and downhole radiometric equivalent uranium grades are inserted
in place of missing core intervals.
4
.
Intersection interval is composited above a cut-off grade of 0.1% U
3
O
8
with a maximum of 1.0 m of internal dilution.
5
.
Intersection interval is composited above a cut-off grade of 2.0% U
3
O
8
with a maximum of 1.0 m of internal dilution.
6
.
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.
7
.
Radiometric equivalent ("eU
3
O
8
") derived from a calibrated downhole gamma probe. No core was recovered within these intervals and
downhole radiometric equivalent uranium grades are inserted in place of missing core intervals.
Table 7 - WMA094-03 Intersections with Geochemical Assay and Radiometric Equivalent
Intervals
WMA094-03 Intervals
1
From
(m)
To
(m)
Length
(m)
6
Average Grade
Maximum
Grade
(% U
3
O
8
)
(% U
3
O
8
)
(% eU
3
O
8
)
7
Interval 1 Breakdown
(2)
788.0
789.0
1.0
0.14
0.18
789.0
790.0
1.0
0.27
Composite Interval 1
(2,3)
788.0
790.0
2.0
0.20
0.27
Interval 2
(4)
792.0
796.5
4.5
0.60
2.51
Including
(5)
796.0
796.5
0.5
2.51
2.51
Interval 3
(4)
801.0
803.5
2.5
0.14
0.28
Interval 4
(4)
805.0
806.5
1.5
1.16
2.21
Including
(5)
805.5
806.0
0.5
2.21
2.21
Interval 5
(4)
815.3
816.3
1.0
0.47
0.61
1
.
WMA094-03 was drilled at an azimuth of 313˚ with an inclination of -80.0˚, collared at 477,236 mE / 6,396,517 mN, 600 m A.S.L. (UTM
NAD83 Z13N) as a daughter hole from WMA094.
2
.
Intersection interval is composited above a cut-off grade of 0.1% U
3
O
8
/ eU
3
O
8
with a maximum of 1.0 m of internal dilution.
3
.
Composited intervals contain geochemical assay where core was recovered, and downhole radiometric equivalent uranium grades are inserted
in place of missing core intervals.
4
.
Intersection interval is composited above a cut-off grade of 0.1% U
3
O
8
with a maximum of 1.0 m of internal dilution.
5
.
Intersection interval is composited above a cut-off grade of 2.0% U
3
O
8
with a maximum of 1.0 m of internal dilution.
6
.
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.
7
.
Radiometric equivalent ("eU
3
O
8
") derived from a calibrated downhole gamma probe. No core was recovered within these intervals and
downhole radiometric equivalent uranium grades are inserted in place of missing core intervals.
Geochemical Sampling Procedures and Use of Radiometric Equivalent Grades
All drill core samples from the program 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.
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 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.
2025 West McArthur Winter Exploration Program Update
The ongoing 2025 West McArthur winter program is focused on continued expansion and delineation of
the high-grade Pike Zone uranium discovery. The Company recently announced results from the first five
drillholes completed as part of the winter 2025 program which indicate high-grade uranium
mineralization in all three target areas (see News Release dated February 5
th
, 2025). The February
results were highlighted by a step out to the east of the high-grade mineralization intersected during the
2024 exploration program which intersected
14.5 metres at 12.20% eU
3
O
8
, including 5.0 metres at
34.38% eU
3
O
8
at the unconformity.
The ongoing winter drill program is planned to achieve an estimated 25 unconformity target
intersections. The Company is optimizing unconformity target intersections by continued use of
downhole mud-motor deviation technology for pilot holes and directional offcuts to increase drilling
efficiency, achieve target intercept accuracy, and to significantly lower drilling costs. The Company
expects to complete the winter portion of the 2025 approved exploration program in April.
The Pike Zone discovery is located in the eastern Athabasca Basin, 20 km to the west of Cameco's
McArthur River mine site. Currently, three drills are active on the Pike Zone for the 2025 winter program.
Other News
CanAlaska Uranium will showcase at the Swiss Mining Institute (SMI) Conference on March 18th and
19th, 2025, at the Dolder Grand Hotel in Zurich.