Geochemical Assays Return Uranium Grades Up To 85.4%U3O8 at CanAlaska’s Pike Zone
Press Release
Saskatoon, Canada, July 17, 2025 – 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 winter 2025 drill program completed on the Pike Zone at the West McArthur project (the “Project”). During the winter program, the Company significantly expanded the high-grade footprint of the Pike Zone and geochemical assay results confirm the best drillholes to date on the project, including composited intervals in WMA079-01 which intersected 8.6 metres at 34.59% U3O 8, including 5.5 metres at 53.90% U3O 8 at the unconformity and WMA076-01 which intersected 14.8 metres at 14.71% U3O 8, including 5.4 metres at 39.67% U3O 8 at the unconformity. Importantly, the Company advanced step out drilling along the C10S corridor to the west of the Pike Zone, where geochemical assays confirm high- grade uranium in WMA095 which intersected 3.5 metres at 1.37% U3O 8, including 1.0 metres at 3.16% U3O 8 at the unconformity, extending the known strike length of unconformity-associated uranium mineralization to approximately 250 metres.
Figure 1 – Project Location Map
CanAlaska CEO, Cory Belyk, comments, “Pike Zone continues to deliver exceptional uranium grades in assay. The geochemical results from the winter exploration program confirm the very high-grade nature of the mineralization at Pike Zone with uranium grades up to 85.4% U 3O 8 returned. In addition, CanAlaska’s team continues to prove its ability to deliver early results to its shareholders through use of equivalent uranium grade estimates from calibrated probes confirmed by later assay. With continuous mineralization now successfully extended to 250 metres at the unconformity and open in all directions, I look forward to ongoing and future extension-focused drilling programs. Uranium market fundamentals are rock-solid and with reserve depletion at current tier-1 producing assets ongoing, the time is now for new high-grade uranium discoveries like Pike Zone to come to the forefront.”
Figure 2 – Pike Zone Winter Drill Program Highlights
The 2025 winter drill program on the West McArthur project consisted of 29 unconformity tests at the Pike Zone, 22 of which contained uranium mineralization. The results of the winter drill program, combined with the results from recently completed drill programs, indicate that the Pike Zone has a strike length of uranium mineralization along the unconformity target area of approximately 250 metres and remains open in all directions (Figure 2). Within that footprint, multiple drill fences outline a 130-metre-long high-grade pod of uranium mineralization. Importantly, during the winter drill program, the Company advanced step out drilling along the C10S Corridor to the west of the Pike Zone, intersecting additional high-grade uranium and extending the known footprint of unconformity-associated uranium mineralization 50 metres west
of the previously understood mineralization footprint. Results from the recently completed drill programs indicate that the strong hydrothermal mineralizing system remains open in both directions along the C10S corridor and highlights the potential for additional mineralized high- grade pods along strike. The assay results received from the winter program confirm the high- grade radiometric equivalent grades previously reported on the Project.
Figure 3 – Section Through Pike Zone Gap Target Area
Drillhole Details:
Thirteen drillholes were completed in the gap target area during the winter exploration program to confirm connectivity between two previously interpreted high-grade pods, twelve of which contained uranium mineralization (Figure 3; Table 1). Unconformity-associated mineralization is characterized by a combination of massive to semi-massive replacement style, blebby, and disseminated uranium mineralization associated with clay, sooty pyrite, and hematite. Basement- hosted mineralization is characterized by a combination of massive to semi-massive, blebby, disseminated, and structurally controlled uranium mineralization associated with hematite, chlorite, and clay alteration. Within some drillholes, intervals of localized core loss were recorded within the mineralization due to intense alteration and quartz dissolution.
Nine drillholes were completed in the eastern extension target area during the winter exploration program to attempt to expand uranium mineralization to the east of the high-grade pod, six of which contained uranium mineralization (Table 1). Unconformity-associated mineralization is characterized by a combination of massive to semi-massive replacement-style, blebby, fracture- controlled, and disseminated uranium mineralization associated with clay, hematite, and sooty pyrite. Basement-hosted mineralization is characterized by blebby, disseminated, and structurally controlled uranium mineralization associated with hematite, chlorite, and clay alteration. Within select drillholes, intervals of localized core loss were recorded within the mineralization due to intense alteration and quartz dissolution.
Four drillholes were completed in the western extension target area during the winter exploration program in an attempt to expand uranium mineralization to the west of the high-grade pod, two of which contained uranium mineralization (Table 1). Unconformity-associated mineralization is characterized by semi-massive to disseminated worm-rock style uranium mineralization associated with clay, hematite, and sooty pyrite. Basement-hosted mineralization is characterized by blebby, disseminated, and structurally controlled uranium mineralization associated with hematite, chlorite, and clay alteration. Within select drillholes, intervals of localized core loss were recorded within the mineralization due to intense alteration and quartz dissolution.
Three drillholes were completed in the western step out target area during the winter exploration program in an attempt to define additional unconformity-associated uranium mineralization along strike to the west along the C10S corridor. Two drillholes contained significant uranium mineralization confirming the theory that uranium mineralization continues to the west of Pike Zone (Table 1). Unconformity-associated mineralization is characterized by blebby, fracture- controlled, and disseminated uranium mineralization associated with clay and sooty pyrite. Basement-hosted mineralization is characterized by blebby, disseminated, foliation-parallel and structurally controlled uranium mineralization associated with hematite, chlorite, and clay alteration.
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