CanAlaska Uranium Ltd. reported that drillhole WMA082-4 has intersected 13.75% eU3O8 over 16.8 metres, including 40.30% eU3O8 over 4.7 metres and 13.54% eU3O8 over 2.4 metres at the Pike Zone as part of the ongoing winter exploration program on the West McArthur Joint Venture project in the eastern Athabasca Basin. The main objectives of the 2024 drill program are continued expansion of the Pike Zone discovery and along strike unconformity testing to the northeast and southwest. The West McArthur project, a Joint Venture with Cameco Corporation, is operated by CanAlaska that holds an 83.35% ownership in the Project.

CanAlaska is sole-funding the 2024 West McArthur program, further increasing its majority ownership in the Project. Drillhole WMA082-4 intersected one main interval of 13.75% eU3O8 over 16.8 metres, including 40.30% eU3O8 over 4.7 metres and 13.54% eU3O8 over 2.4 metres, followed by several lower grade intervals down hole. The mineralization is characterized by massive to semi-massive, blebby, disseminated, clay-hosted, and fracture-controlled uranium mineralization associated with yellow and orange uranium secondaries at the contact between the Athabasca sandstone and the underlying basement rocks.

The mineralized intervals are hosted within a broad zone of intense clay and chlorite alteration, resulting in complete replacement of the original rock fabric and textures. Localized intervals of lost core occur due to high rock friability. The lower sandstone column of WMA082-4 is strongly bleached, limonite and clay altered, and contains several multi-metre scale fault zones that consist of quartz dissolution, core loss related to broken and blocky core, clay replacement, and clay-filled breccias extending over 80 metres above the uranium mineralization.

WMA082-4 is located approximately 30 metres along strike to the northeast of high- grade uranium mineralization intersected in WMA082-2, which intersected 1.03% U3O8 over 6.3 metres, including a sub-interval of 2.82% U3O8 over 1.9 metres. The unconformity target at Pike Zone remains open in all directions around WMA082-4. The Company expects to complete the winter portion of the ongoing 2024 exploration program in April. Assay results for WMA082-4 are pending.

Geochemical Sampling Procedures and Use of Radiometric Equivalent Grades: All drill core samples from the 2024 program will be 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 U3O8 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 interval.

Select density samples, comprising 0.1 metre continuous whole core samples that are subsequently assayed, may be taken within the mineralized interval. 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 ("eU3O8") are then calculated from the downhole radiometric results. The probe is calibrated using an algorithm calculated from the calibration of the probe at the Saskatchewan Research Council facility in Saskatoon. At extremely high radiometric equivalent uranium grades, downhole gamma probes may become saturated, and a cap may be applied to the grade.

A 0.1% eU3O8 cut-off with a maximum internal dilution of 1 metre is used for compositing and reporting the data. A 1.0% or 2% eU3O8 cut-off with a maximum internal dilution of 1 metre is used for compositing and reporting higher-grade sub-intervals. 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, 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.