CanAlaska 2025 Summer Drill Program Assays Results Confirm Extension of Pike Zone Mineralization
Press Release
Pike Zone Mineralized Corridor Remains Open with Strengthening Target Vectors to West
$15 Million 2026 Exploration Program Ongoing at West McArthur JV Project
Saskatoon, SK, Canada, January 22, 2026 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQX:
CVVUF; Frankfurt: DH7) (“CanAlaska ” or the “Company”) is pleased to report that it has received the geochemical assay results from the 2025 summer drill program completed on the Pike Zone at the West McArthur Project (the “Project”) (Figure 1). During the summer program, the Company focused on continued step outs from the Pike Zone high -grade mineralization and successfully expanded the mineralized footprint of the Pike Zone at the unconformity to 500 metres length. Geochemical assay results confirm the previously reported eU3O8 results and highlight the strong hydrothermal alteration, intense structural disruption, and uranium mineralization increasing to the southwest along the C10S trend for approximately 250 metres away from the high-grade pod at the Pike Zone. Importantly, the western-most drill fences from the summer program were highlighted by unconformity uranium mineralization in drillholes WMA099 which intersected 2.5 metres at 0.78% U3O8 and WMA099 -03 which intersected 3.3 metres at 0.53% U3O8, associated with strong alteration and structural disruption. The Company believes these drillholes highlight the potential for additional mineralized pods along the C10S corridor.
Figure 1 – West McArthur Project Location
News Release Page 1 January 22nd, 2026
CanAlaska CEO, Cory Belyk, comments, “The CanAlaska team is very pleased with these confirmatory geochemical assays being received within a few months of summer program completion. The results clearly highlight the western end of the currently defined 500 metre Pike Zone footprint as increasing in uranium grade. When coupled with the reported structural disruption, alteration and trace metal enrichments, the western end of Pike Zone presents an exciting opportunity for further definition of high-grade uranium mineralization in the coming months.”
The 2025 summer drill program on the West McArthur project consisted of twenty-two unconformity tests, eleven of which contained uranium mineralization (Table 1). The results of the summer drill program, combined with the results from recently completed drill programs, indicate that the mineralized footprint of the Pike Zone at the unconformity has now been traced over 500 metres with a 140-metre-long high-grade pod outlined by multiple drill fences (Figure 2). Most importantly, the last drill fences of the summer drill season completed on the western-most step out intersected strong unconformity-associated uranium mineralization. Drillholes on these fences were highlighted by WMA099 which intersected 2.5 metres at 0.78% U3O8 and WMA099-03 which intersected 3.3 metres at 0.53% U3O8. Results from the summer drill program indicate the hydrothermal alteration, structural intensity, and uranium mineralization remain open and appear to be increasing to the west along the C10S trend, highlighting the potential for additional zones of high-grade unconformity uranium mineralization.
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