CanAlaska Uranium Ltd. announced it has signed a Property Swap Agreement F3 Uranium Corp. (F3 Uranium) dated January 16, 2024 for the acquisition of the Nebula Project (the Nebula Project) in the Athabasca Basin, Saskatchewan. The Nebula Project, formerly known as F3 Uranium's Hobo Lake Property, is located in the southeastern Athabasca Basin and covers 14,854 hectares.

The Project is located approximately 35 kilometres southwest of the Key Lake Mine and Mill complex and covers over 40 kilometres of the interpreted Key Lake structural corridor and associated conductors. The Nebula Project is located approximately 25 kilometres south of the present-day Athabasca Basin margin and covers the extension of the Key Lake structural corridor and stratigraphy where it trends along the western contact of the highly prospective Wollaston-Mudjatik transition zone. The Project also runs immediately adjacent to Highway 914, providing excellent access to all the claims.