CanAlaska completes first holes at Manibridge Nickel

Four holes hit semi massive and associated disseminated nickel mineralization

Vancouver, Canada, February 20, 2019 — CanAlaska Uranium Ltd. (TSX-V:CVV; OTCQB: CVVUF; Frankfurt: DH7N)) (“CanAlaska” or the “Company”)   is pleased to report on successful completion of drilling at Manibridge, Manitoba. Four holes showed semi-massive and massive sulphide mineralization with associated wider zones of disseminated sulphides near existing mineralization.

The four hole, 1,000 metre drill program successfully intercepted a broad fold structure, 2.5 kilometres north of the past-producing high-grade Manibridge nickel mine. Nickel mineralization was intersected in all holes. In each case a zone of massive sulphides, 0.5 to 4 metres long in drill holes, is hosted by a broad zone of disseminated sulphide mineralization (8 to 14 metres in length).

Portable XRF analyses of the core shows that nickel is present both in the massive and in the disseminated sulphide mineralization. Two of the best historical intersections from this area were 12.1 metres of 1.46% Ni in hole W50-130 and 2.6 metres of 3.05% Ni in hole W50-124.

The drilling highlighted mineralization in the fold, and further mineralized intersections subparallel to known mineralization. Multiple sulphide mineralized intersections were reported for all drill holes, with the key horizons intercepted as follows:

MNB19-01: Starting at 102.5 metres depth, 4 metres of massive sulphide mineralization with 8 metres of disseminated sulphide mineralization above and below the massive sulphide intersection.

MNB19-02: Starting at 81.5 metres depth, 1.5 metres of massive sulphide mineralization in a 12 metres zone of disseminated sulphide mineralization, with a second 4.5 metres zone of disseminated sulphide mineralization above this intersection.

MNB19-03: Starting at 115.4 metres depth, 2 metres of massive sulphide mineralization in a 14 metres zone of disseminated sulphide mineralization.

MNB19-04: Starting at 42 metres depth, 0.5 metres of massive sulphide mineralization in a 10 metre zone of disseminated sulphide mineralization, with a further 3.5 metres massive sulphide mineralization at 92.5 to 96 metres. This hole targeted a strong EM conductor. The sulphides intersected do not appear to explain the EM conductor. Disseminated sulphides near the end of the drill hole can be interpreted as the start of a second massive sulphide-bearing zone that together with the first zone of massive sulphides would explain the EM conductor.

The mineralization is composed of pyrite and pyrrhotite with accessory pentlandite and chalcopyrite. It is hosted in ultramafic rocks as well as associated pegmatite and amphibolite.

Figure 1: COO Cory Belyk (left) inspecting Manibridge drill core with geologist Edward Parker

CanAlaska President Peter Dasler comments, “We have recently increased our landholding in the Manibridge area, and are very happy to be able to have new samples that will allow us to evaluate the extent of high grade nickel and other mineralization within the disseminated sulphide targets. In this area of the Thompson Nickel Belt, the mineralization has very high nickel tenor and high nickel grades have been associated with low sulphide content. We are very pleased with the results of this drill program and have now secured assessment credit on the property for some years to come. We will now focus our exploration efforts to significantly extend the West McArthur uranium project discoveries in Saskatchewan.”

About CanAlaska Uranium 

CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N)  holds interests in approximately 152,000 hectares (375,000 acres), in Canada’s Athabasca Basin — the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds.

For further information visit www.canalaska.com.

The qualified technical person for this news release is Dr Karl Schimann, P. Geo, CanAlaska director and VP Exploration.

On behalf of the Board of Directors

“Peter Dasler”

Peter Dasler, P. Geo.,  President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.