CanAlaska Uranium : Q2 - Oct 31, 2021 Interim Financial Report

CanAlaska Uranium Ltd.

Condensed Interim Consolidated Financial Statements

Second Quarter - October 31, 2021

(Unaudited)

(Expressed in Canadian dollars, except where indicated)

NOTICE OF NO AUDITOR REVIEW OF

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

Under National Instrument 51-102, if an auditor has not performed a review of the condensed interim consolidated financial statements required to be filed, they must be accompanied by a notice indicating that the condensed interim consolidated financial statements have not been reviewed by an auditor.

The accompanying condensed interim consolidated financial statements have been prepared by and are the responsibility of the Company's management.

The Company's independent auditor has not performed a review of these condensed interim consolidated financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of condensed interim consolidated financial statements by an entity's auditor.

CanAlaska Uranium Ltd.

Condensed Interim Consolidated Statements of Financial Position

(Unaudited)

(Expressed in Canadian dollars except where indicated)

October 31	April 30
2021	2021
$000's	$000's

Assets

Current assets

Cash and cash equivalents (note 4)	11,702	7,016
Prepaid and deposits	221	130
Equity securities (note 5)	943	669
Total current assets	12,866	7,815
Non-current assets
Reclamation bonds	62	49
Property and equipment (note 6)	527	76
Mineral property interests (note 7)	470	406
Total assets	13,925	8,346

Liabilities

Current liabilities

Trade and other payables	307	172
Deferred flow-through premium (note 9)	-	150
Current portion of lease liabilities (note 8)	60	-
	367	322
Non-current portion of lease liabilities (note 8)	274	-
Equity	641	322
88,107	86,265
Common shares (note 9)
Share subscription received (note 9)	6,202	-
Equity reserve (note 9)	17,148	16,805
Investment revaluation reserve	(1,233)	(1,506)
Accumulated deficit	(96,940)	(93,540)
	13,284	8,024
	13,925	8,346

Subsequent Events (note 12)

Approved by the Board of Directors

"Peter Dasler"	"Jean Luc Roy"
_________________________	______________________
Director	Director

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements.

CanAlaska Uranium Ltd.

Condensed Interim Consolidated Statements of Comprehensive Loss

(Unaudited)

(Expressed in Canadian dollars except where indicated)

Three Three months	Six months
months	ended	ended	Six months
ended	October 31	October 31	ended
October 31	2020	2021	October 31
2021			2020
($000's)	($000's)	($000's)	($000's)

EXPLORATION COSTS

Mineral property expenditures net of reimbursements Mineral property write-offs (note 7)

Net option payments (note 7)

OTHER EXPENSES (INCOME)

Consulting, labour and professional fees

Depreciation and amortization (note 6)

Foreign exchange loss (gain)

Gain on sale of property and equipment

Insurance, licenses and filing fees

Interest

Interest income

Other corporate costs

Investor relations and presentations

Rent (note 12)

Share-based payments (note 9)

Travel and accommodation

Flow-through premium (note 8)

Net loss for the period

Other comprehensive loss

Items that have been reclassified to profit or loss: Realized (loss) gain on equity securities

Items that will not be subsequently reclassified to profit or Unrealized gain on equity securities

Total comprehensive loss for the period Basic and diluted loss per share ($ per share)

Basic and diluted weighted average common shares outstanding (000's)

1,677	91	2,089	104
-	-	-	1
(19)	(114)	(19)	(159)
1,658	(23)	2,070	(54)
248	216	441	369
26	3	42	6
1	(1)	(1)	1
(7)	-	(7)	-
43	19	76	48
8	-	10	-
(5)	(5)	(9)	(12)
17	5	32	9
40	19	95	52
9	5	20	11
-	-	774	-
4	1	7	7
(75)	-	(150)	-
309	262	1,330	491
(1,967)	(239)	(3,400)	(437)

-	(208)	(158)	(194)
423	209	431	359
(1,544)	(238)	(3,127)	(274)
(0.02)	(0.00)	(0.04)	(0.01)
83,690	57,576	83,292	57,576

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements.

CanAlaska Uranium Ltd.

Condensed Interim Consolidated Statements of Changes in Equity

For the six months ended October 31, 2021 and 2020

(Unaudited)

(Expressed in Canadian dollars except where indicated)

				Equity	Investment	Accumula
	Common Shares	Share	Reserve	Revaluatio	ted	Total
	Shares	Amount	Subscriptions	$000's	n Reserve	Deficit	Equity
	000's	$000's	Received		$000's	$000's	$000's
Balance - April 30, 2020	57,576	79,600	-	14,326	(1,851)	(89,774)	2,301
Issued on private placement for cash	-	-	567	-	-	-	567
Share issuance costs	-	(13)	-	-	-	-	(13)
Other comprehensive loss	-	-	-	-	164	-	164
Loss for the period	-	-	-	-	-	(437)	(437)
Balance-October31, 2020	57,576	79,587	567	14,326	(1,687)	(90,211)	2,582
Balance - April 30, 2021	81,208	86,265	-	16,805	(1,506)	(93,540)	8,024
Issued on private placement for cash	-	-	6,202	-	-	-	6,202
Share issuance costs	-	(11)	-	-	-	-	(11)
Issued on the exercise of stock options	870	567	-	(217)	-	-	350
Issued on the exercise of warrants	2,799	1,286	-	(214)	-	-	1,072
Share-based payments	-	-	-	774	-	-	774
Other comprehensive loss	-	-	-	-	273	-	273
Loss for the period	-	-	-	-	-	(3,400)	(3,400)
Balance-October31, 2021	84,877	88,107	6,202	17,148	(1,233)	(96,940)	13,284

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements.