Announcement • Jul 14
Canalaska Uranium Announces Results From Nebula Winter Drill Program CanAlaska Uranium Ltd. announced results from the winter drill program on its Nebula project in the southeastern Athabasca Basin. The drill program focused on multiple high-priority target areas identified from recent airborne geophysical surveys and the results of historical drilling. During the program, the Company successfully confirmed the presence of strongly graphitic pelite with re-activated cross-cutting and conductor parallel semi-brittle basement fault zones that had associated hydrothermal alteration. The results from the drill program highlight the potential for continued exploration for basement-hosted uranium mineralization on the Project. The Nebula project is 100% CanAlaska-owned and is located approximately 30 km southwest of the past-producing Key Lake Mine and currently operating Key Lake Mill. The 2026 winter drill program on the Nebula project consisted of eight diamond drill holes for a total of 1,618 metres in two target areas. The program was focused on first-pass exploration testing of a series of high-priority target areas identified based on the recent airborne geophysical surveys and the review of historical drilling. Results from the winter program on the Nebula project were highlighted by a wide-graphitic package with multiple re-activated fault zones that had associated structurally-controlled hydrothermal alteration. During the drill program, first-pass exploration testing of two high-priority target areas on the Nebula project was successfully completed. Seven drillholes were completed as a first-pass test of a long linear conductive trend that runs the entire length of the Nebula project. This conductive trend is interpreted to represent over 32 kilometres of conductive target stratigraphy on the Project that parallels the highly prospective Wollaston-Mudjatik transition zone. During the winter drilling program, the Company successfully evaluated approximately 3.5 km of a previously untested 13-kilometre-long segment of this conductive corridor using a widely spaced drill pattern. Drilling results returned a wide package of strongly graphitic pelite with large conductor parallel and cross-cutting re-activated fault zones with hydrothermal chlorite alteration. In drillholes NEB005 and NEB006, strongly hematized and clay-altered fault structures, ranging from metre-scale to up to 35 metres in drill core length, were intersected and confirm the potential for a hydrothermal system that could produce basement-hosted uranium mineralization along this long linear conductive corridor. One drillhole, NEB007, was completed to test a conductive target up-ice along the interpreted glacial ice direction of the historically reported Karpinka Lake radioactive boulder field. NEB007 successfully intersected graphitic stratigraphy with narrow fault zones. Results from NEB007 did not explain the source of the Karpinka Lake radioactive boulder field. Overall, the drill program on the Nebula project was successful in completing first-pass evaluation of a small segment of the larger conductive corridor. Drill results revealed a broad continuous graphitic package with associated structural re-activation and hydrothermal alteration. Continued testing of the larger conductive corridor remains a priority for the Company. Specifically, future testing will be focused on areas of interpreted structural complexity, where bends and breaks in the conductive rocks associated with cross-cutting fault zones may create the potential for transport and trap of hydrothermal uranium-bearing mineralizing fluids. Geochemical assay results from the winter drill program on the Nebula project are pending. All assay drill core samples from the program, completed as NQ-sized core, were shipped to the Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan in secure containment for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-OES using higher grade standards. Assay samples are chosen based on downhole probing radiometric equivalent uranium grades and scintillometer (SPP2 or CT007-M) peaks. Assay sample intervals comprise 0.3 - 0.8 metre continuous half-core split samples over the mineralized intervals. With all assay samples, one half of the split sample is retained and the other sent to the SRC for analysis. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by CanAlaska and the SRC in accordance with CanAlaska's quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by CanAlaska prior to disclosure. The historical results contained within this news release have been captured from the Saskatchewan Mineral Assessment Database (SMAD) as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results collected and reported by past operators unrelated to CanAlaska have not been verified nor confirmed by a Qualified Person; however, the historical results form a scientific basis for ongoing work on the subject projects. Any historical rock /boulder samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined. Recent Insider Transactions • Jul 12
Independent Director recently sold CA$60k worth of stock On the 7th of July, Jean Roy sold around 150k shares on-market at roughly CA$0.40 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$79k. Insiders have been net sellers, collectively disposing of CA$258k more than they bought in the last 12 months. Announcement • Jun 24
CanAlaska Uranium Ltd. Announces Results from Key Extension Winter Drill Program CanAlaska Uranium Ltd. announced results from the winter drill program on its Key Extension project in the southeastern Athabasca Basin. The drill program focused on multiple high-priority target areas identified from recent airborne geophysical surveys and the results of historical drilling. During the program, the Company successfully confirmed the presence of strongly graphitic stratigraphy with re-activated semi-brittle basement fault zones containing associated hydrothermal alteration. The results from the drill program highlight the potential for discovery of basement-hosted uranium mineralization on the Project. The Key Extension project is 100% CanAlaska-owned and is located approximately 15 km southwest of the past-producing Key Lake Mine and current operating Key Lake Mill. The 2026 winter drill program on the Key Extension project consisted of five diamond drill holes for a total of 1,251 metres in two target areas. The program was focused on early-stage evaluation of a series of high-priority target areas identified based on the recent airborne geophysical surveys and the review of historical drilling. Results from the winter program on the Project are highlighted by the consistent intersection of graphitic stratigraphy containing re-activated graphitic fault zones with associated hydrothermal clay and chlorite alteration. During the drill program, two high-priority target areas were successfully tested: Follow Up on Historical Drilling: Three drillholes were completed to test conductive stratigraphy along strike of anomalous historical drillholes that contained a graphitic fault zone associated with clay, chlorite, and hematite alteration, and 487.3 ppm uranium over 0.15 m in drillhole KEY-001. KEY013, KEY014, and KEY015 successfully extended the strike length of the graphitic corridor in the target area. KEY014, which was the deepest test of the graphitic corridor, displayed the strongest chlorite and clay alteration associated with re-activated fault structures at depth. These results suggest that additional drilling in this target area should focus on testing deeper below surface on the conductive corridor for increasing hydrothermal alteration and the potential for basement-hosted uranium mineralization. Up-Ice of the Orchid Lake Radioactive Boulder Field: Two drillholes were completed to test a series of conductive targets up-ice along the interpreted glacial ice direction of the historically reported Orchid Lake radioactive boulder field. KEY017 and KEY018 successfully intersected graphitic stratigraphy containing semi-brittle fault zones associated with localized chlorite and clay alteration. Results from the drillholes in this target area did not explain the source of the Orchid Lake radioactive boulder field. Additional drilling should be completed both closer to, and further along strike of, the conductive stratigraphy to continue to evaluate for the source of the Orchid Lake radioactive boulder field. Due to seasonal access challenges, the Company was unable to test several additional high-priority target areas on the Project including the Western Conductive Trend, the Eastern Conductive Trend, and drill targets more proximal to the Orchid Lake radioactive boulder field. The high-priority target areas on the Key Extension project remain focused on a series of long-linear magnetic low corridors associated with conductivity high corridors that are interpreted to extend from the Key Lake Mine and Mill complex area through the Company's Key Extension and Nebula projects. The magnetic lows with associated conductivity highs are interpreted to represent the graphitic metasedimentary rocks of the lower Wollaston Domain in the highly prospective Wollaston-Mudjatik transition zone. Drill targets on the Key Extension project within the graphitic metasedimentary package are focused on areas of interpreted structural complexity, where interpreted bends and breaks in the conductive rocks may create the potential for transport and trap of hydrothermal uranium-bearing mineralizing fluids. The Company is currently in the process of planning a helicopter-supported fall drill program on the Key Extension project. Priority targets for the planned program will be those that were inaccessible due to seasonal access challenges, including the Western Conductive Trend, the Eastern Conductive Trend, and drill targets more proximal to the Orchid Lake radioactive boulder field. Geochemical assay results from the winter drill program on the Key Extension project are pending. All assay drill core samples from the program, completed as NQ-sized core, were shipped to the Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan in secure containment for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-OES using higher grade standards. Assay samples are chosen based on downhole probing radiometric equivalent uranium grades and scintillometer (SPP2 or CT007-M) peaks. Assay sample intervals comprise 0.3 – 0.8 metre continuous half-core split samples over the mineralized intervals. With all assay samples, one half of the split sample is retained and the other sent to the SRC for analysis. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by CanAlaska and the SRC in accordance with CanAlaska's quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by CanAlaska prior to disclosure. The historical results contained within this news release have been captured from the Saskatchewan Mineral Assessment Database (SMAD) as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results collected and reported by past operators unrelated to CanAlaska have not been verified nor confirmed by a Qualified Person; however, the historical results form a scientific basis for ongoing work on the subject projects. Any historical rock /boulder samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined. 
