Mining Inventory Information – CanAlaska (TSXV: CVV) Acquires New Mission Alongside Prolific Mineralized Hall In Jap Athabasca Basin

Vancouver, British Columbia – January 18, 2023 (Newsfile Corp.) ( Newswire) CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) (“CanAlaska or the “Corporate”) is happy to announce the Corporate’s newly obtained Frontier venture, totalling 15,929 hectares, within the northeastern Athabasca Basin. The Frontier venture is positioned roughly 30 kilometres northeast of the McClean Lake mill advanced and Roughrider uranium deposit, and 35 kilometres north of Cameco’s Eagle Level uranium mine (Determine 1).

Determine 1 – Frontier Mission Location

The Frontier venture is positioned 5 kilometres northeast of the present-day Athabasca Basin edge. Compilation paintings at the venture has highlighted a distinguished 25-kilometre-long northeast trending magnetic low hall. This regional-scale hall, which continues off estate to the southwest, hosts more than one uranium deposits and showings, together with Roughrider, Midwest, J Zone, Morning time Lake, Moonlight, Osprey, and the McClean Lake mine (mined-out Jeb deposit) and mill advanced. This regional-scale hall is termed right here because the Roughrider Mineralized Hall (“RMC”). Inside the Frontier venture the RMC is certain by way of magnetic excessive our bodies to the east and west which are interpreted to constitute Archean domes, offering an appropriate and beneficial geological state of affairs for the formation of huge fault constructions.

Determine 2 – Exploration Goal Hall Frontier Mission

A significant northeast trending construction has been mapped alongside the western margin of the magnetic low hall this is cross-cut by way of more than one north-south trending magnetic construction lineaments (Determine 2). Southwest of the valuables, this similar lineament is related to a big jog within the Athabasca Basin edge this is interpreted to constitute structural offset. The interaction between constructions alongside lengthy linear magnetic low corridors is conventional of many unconformity uranium deposits within the Athabasca Basin and permits for the introduction of structural traps for doable uranium deposition. Because of this, the Corporate believes this segment of the RMC represents a key underexplored goal space for basement-type uranium mineralization.

The Frontier venture has passed through very restricted historic exploration. Gulf Minerals Corporate finished an airborne radiometric survey, adopted by way of prospecting and mapping within the 1960’s. Airborne radiometric, magnetic, and electromagnetic surveys had been flown within the 1970’s by way of Gulf Minerals Corporate and Canadian Awesome Exploration Ltd. Those surveys had been adopted by way of ground-based prospecting, mapping, lake sediment and boulder sampling, and VLF-EM surveying. Within the early 1990’s, as a part of a regional lake-sediment sampling program, the Geological Survey of Canada accrued a pattern on Level Lake which returned 34.7 ppm uranium related to increased cobalt, copper, molybdenum, and nickel. In 2007, Hathor Exploration Ltd., discoverer of the close by basement-hosted Roughrider uranium deposit, carried out an in depth aeromagnetic survey that coated all of the Frontier estate and a small VTEM (Flexible Time Area Electromagnetics) survey and lake sediment sampling program that coated best the very southern portion. The Frontier estate has no identified drillholes finished inside its barriers.

The Corporate believes the following steps for the Frontier venture come with property-wide trendy high-resolution airborne radiometric, VTEM, and gravity surveys adopted by way of ground-based prospecting. This mix of geophysical tactics is definitely suited towards identity of basement-hosted uranium goals for follow-up drilling methods. The Corporate is finishing additional compilation paintings at the newly obtained Frontier venture and is actively in search of Joint Project companions to transport the venture ahead.

CanAlaska CEO, Cory Belyk, feedback, “This can be a very thrilling new venture generated by way of our proficient geologists alongside some of the essential mineralized corridors within the jap Athabasca Basin close to crucial milling infrastructure. The Roughrider uranium deposit discovery was once some of the essential within the final uranium cycle any place on the planet reigniting hobby within the northeastern space of the Basin. The Frontier venture is a geological extension of the Roughrider Mineralized Hall and hasn’t ever had trendy survey strategies carried out towards basement-hosted uranium deposit discovery. Congratulations to the CanAlaska workforce for spotting this chance on the access to the following uranium bull marketplace which we imagine is upon us. The timing may just now not be higher for our shareholders because the workforce applies its venture technology technique to create an unbelievable discovery alternative within the Saudi Arabia of Uranium.”

Different Information

The Corporate is drilling on its West McArthur venture within the jap Athabasca Basin. The 2023 West McArthur drill program is fascinated by advancing the Corporate’s new high-grade Pike Zone uranium discovery. The principle objectives for the wintry weather drill program are the Pike Zone unconformity goal and persisted definition of the scale and controls of the Pike Zone basement mineralization.

As well as, the Corporate is getting ready for its first drilling program at the Key Extension venture, positioned within the southeastern Athabasca Basin area close to the Key Lake mine and mill advanced. The 2023 Key Extension drill program, deliberate to start out in February, will focal point on exploration of newly outlined goals generated via a sequence of geophysical methods finished in 2022.

The Corporate can be attending the Vancouver Useful resource Funding Convention (“VRIC”) on January 29th and 30th in Vancouver, BC and could have representatives at sales space #435.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) holds pursuits in roughly 300,000 hectares (750,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted main global mining firms. CanAlaska is lately operating with Cameco and Denison at two of the Corporate’s houses within the Jap Athabasca Basin. CanAlaska is a venture generator located for discovery luck on the planet’s richest uranium district. The Corporate additionally holds houses potential for nickel, copper, gold and diamonds. For additional data discuss with

The certified technical individual for this information unencumber is Nathan Bridge, MSc., P.Geo., CanAlaska’s Vice President, Exploration.

On behalf of the Board of Administrators
“Cory Belyk”
Cory Belyk, P.Geo., FGC
CEO, Govt Vice-President and Director
CanAlaska Uranium Ltd.


Cory Belyk, Govt VP and CEO
Tel: +1.604.688.3211 x 306
E mail:

Common Enquiry
Tel: +1.604.688.3211
E mail:

Neither TSX Project Alternate nor its Legislation Products and services Supplier (as that time period is outlined within the insurance policies of the TSX Project Alternate) accepts duty for the adequacy or accuracy of this unencumber.

Ahead-looking data

All statements incorporated on this press unencumber that cope with actions, occasions or trends that the Corporate expects, believes or anticipates will or might happen sooner or later are forward-looking statements. Those forward-looking statements contain a large number of assumptions made by way of the Corporate in accordance with its revel in, belief of historic developments, present stipulations, anticipated long term trends and different elements it believes are suitable within the instances. As well as, those statements contain considerable identified and unknown dangers and uncertainties that give a contribution to the chance that the predictions, forecasts, projections and different forward-looking statements will turn out faulty, positive of that are past the Corporate’s regulate. Readers will have to now not position undue reliance on forward-looking statements. Apart from as required by way of legislation, the Corporate does now not intend to revise or replace those forward-looking statements after the date hereof or revise them to replicate the incidence of long term unanticipated occasions.

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