CanAlaska Uranium Ltd. reported diamond drill results from its partner operated programs completed during the winter of 2024 on the Geikie and Moon Lake South Projects (Figure 1). Drill results from the Geikie Project confirm extensive hydrothermal alteration and structure associated with a large gravity anomaly in the Preston Creek area. Results from the Moon Lake South Project confirm additional uranium mineralization drilled adjacent to recent discovery hole MS-23-10A and along strike to the northeast along the CR-3 Corridor. 2024 Geikie Exploration Program: The Company announced results from the 2024 winter drill program on the Geikie Project. The 2024 winter exploration program consisted of eight completed diamond drill holes for a total of 2,295 metres, designed to follow-up on the success of the 2023 drill program and to test high-priority gravity anomalies identified during the 2023 Airborne Gravity Gradiometer (AGG) survey. Gravity anomalies were interpreted to be related to zones of enhanced basement alteration. The drill program was focused on three target areas on the Geikie project, with the majority of work completed in the Preston Creek target area.Drilling in the Preston Creek area was highlighted by a wide quartz-rich fault zone showing cataclastic reactivation, intense hydrothermal fluid activity, redox-style alteration, pervasive clay alteration, and localized elevated radiometry. Drill hole observations suggest that the previously identified gravity low in the Preston Creek target area is related to a broad hydrothermal fluid system. This gravity low feature remains untested to the northeast where it extends for approximately 1,500 metres. The Preston Creek target area drill holes include GKI-010, GKI-014, and GKI-016. GKI-010 targeted the southern edge of the large gravity anomaly and intersected a quartz-hematite breccia between 288 and 344 metres associated with red hematite alteration and localized elevated radiometry up 360 cps (CT007-M). Moving north along the large gravity anomaly, GKI-014 intersected several brittle fault zones associated with structurally-controlled hydrothermal hematite, limonite, silicification, and chlorite alteration. In addition, GKI-014 intersected a 44-metre-wide interval of pervasive clay alteration at the base of a quartz-rich fault zone. GKI-016 was completed a further 90 metres along strike to the north andintersected a large re-activated graphitic shear zone between 116 and 131 metres immediately followed by pervasive bleaching, clay, and chlorite alteration to 161 metres before the drill hole was lost due to technical drilling issues at 168 metres. 2024 Moon Lake South Exploration Program: The Company announced results from the 2024 winter exploration program completed by the Moon Lake South Joint Venture ("MLSJV") on the Moon Lake South Project.
The 2024 winter exploration program consisted of eight completed diamond drill holes for a total of
5,634 metres, designed to evaluate the potential to expand the footprint of high-grade uranium
mineralization discovered in 2023 drill hole MS-23-10A (2.46% U3O8 over 8.0 metres). In addition, the
program tested conductivity anomalies identified from recent ground-based Stepwise Moving Loop
Electromagnetic (SWML EM) surveys completed in the area, targeting additional uranium mineralization
along strike of known mineralized occurrences. Uranium mineralization was encountered in three of the eight drill holes completed during the winter 2024 program. MS-24-23 tested the unconformity 32 metres due west of the mineralization discovered in 2023 drill hole MS-23-10A, and intersected uranium mineralization at the sub-Athabasca unconformity grading 0.12% eU3O8 over 0.6 metres. Drill hole MS-24-25, drilled to target the unconformity 115 metres due west of MS-23-10A, intersected uranium mineralization grading 0.12% eU3O8 over 0.4 metres, hosted at the contact between a fault zone and a graphitic pelite. A third mineralized intersection was returned from hole MS-24-27, which was drilled to target the unconformity approximately 915 metres northeast of MS-23-10A, and 250 metres along strike to the southwest of mineralization intersected in 2021 drill hole MS-21-06. MS-24-27 intersected mineralization grading 0.08% eU3O8 over 0.2 metres, associated with the contact between a graphitic pelite and an underlying granitic unit, lying approximately 45 metres below the unconformity. Radiometric equivalent grades for mineralized intercepts from the 2024 winter drilling program are displayed Table 1. Geochemical assay results for the 2024 Moon Lake South winter program are pending.