CanAlaska Announces Senior Management and Board Changes

Peter Dasler Retires as President, Remains as Non-Executive Director

Dr. Karl Schimann Retires as Director, Remains as Geological Consultant

Cory Belyk, CEO and Executive Vice-President, Joins Board of Directors

Rayleigh Capital Ltd to Provide Communication and Marketing Services

Vancouver, Canada, January 4, 2023 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQX: CVVUF; Frankfurt: DH7N) (“CanAlaska or the “Company”) is pleased to announce changes to the Company’s senior management team, board of directors and investor relations services.

Mr. Peter Dasler, in 2004, positioned CanAlaska, (then CanAlaska Ventures Ltd.), to become a significant presence in the field of Canadian uranium exploration by staking mineral claims in the most favorable districts of Canada’s Athabasca Basin, home to the world’s largest-richest uranium mines. He has since assembled an expert geological team that has enabled CanAlaska to carry out extensive exploration programs and advance multiple uranium projects towards discovery, including the recent Pike Zone and 42 Zone discoveries on the West McArthur project near the giant McArthur River mine. Mr. Dasler was instrumental in maximizing periods of growth for the Company and weathering significant market downturns by strategically bringing in outside investment to CanAlaska’s uranium portfolio from major industry players like Kepco, Kores, Mitsubishi, De Beers, Cameco and Denison Mines. These partnerships have ultimately led to multiple discoveries, the most significant of which is the Pike Zone on the West McArthur project. With his vision of a carbon free future, Mr. Dasler also led the Company toward assembly of a district-scale sulphide nickel portfolio second only to Vale in size in the Thompson Nickel Belt of Manitoba, the fifth largest nickel belt in the world. Through this leadership, CanAlaska and its shareholders are well positioned to take advantage of future demand for clean energy and storage and delivery of that clean energy to end-users. Mr. Dasler has resigned his role as President and will remain as a non-executive director of CanAlaska.

Peter Dasler, Director, comments, “I am very pleased to be able to hand over my duties to Cory.  His team is experienced and energetic and capable of completing tasks that we commenced in the last uranium cycle. The Athabasca has new discoveries, and that is good for our shareholders.

Dr. Karl Schimann’s extensive experience is in mineral exploration. His career in exploration geology spans over 50 years and across three continents. He has participated in significant discoveries for uranium and base metals and has also led exploration and mining initiatives for gold and diamonds. Between 1977 and 1997, Dr. Schimann was employed by French uranium giant AREVA (previously COGEMA) as a Senior Geologist and Project Manager, where he was a key member of the team that undertook the discovery and development of the massive Cigar Lake uranium mine. In total, he spent twenty years with AREVA, ten of which were based in Canada’s Athabasca Basin, home to the world’s largest and richest uranium mines. Dr. Schimann joined CanAlaska in 2004, returning to Canada to immerse himself in a fresh challenge towards the discovery of yet another world-class uranium mine. Dr. Schimann played an integral role in development of CanAlaska’s large uranium and nickel project portfolios through application of industry leading ore deposit knowledge based on many years’ experience, specifically in the uranium sector. Dr. Schimann led the application of new technology to help push the envelope of information gain from each exploration program ultimately allowing the Company to attract major outside investment and make uranium discoveries such as the Pike Zone and 42 Zone on the West McArthur project. Dr. Schimann has resigned his role as Director and will remain as a Geological Consultant to CanAlaska.

Dr. Karl Schimann, comments, “Cory and Nathan and their new geologists are the right team to bring a new and exciting life into CanAlaska and to advance the potential of the Pike and the 42 zones into deposits. It will be a pleasure for me to continue to support them in their drive towards new uranium and nickel discoveries”.

 

Board of Directors

Cory Belyk, CEO and Executive Vice-President of the Company, has been appointed to the Board of Directors effective December 31, 2022.

 

Rayleigh Capital Ltd

The Company is also pleased to announce that on January 1, 2023, it has retained the services of Rayleigh Capital Ltd. (“Rayleigh Capital”), which will provide corporate communications and marketing services to the Company, subject to TSX Venture Exchange approval. Rayleigh Capital focuses on global investor relations for junior and small cap companies specializing at exposing companies to a wide audience of investment professionals.

Under a services agreement between the Company and Rayleigh Capital (the “Agreement”), Rayleigh Capital has been retained for an initial term of six months, subject to either party terminating the Agreement by providing 30 days written notice to the other party. Under the Agreement, the Company will pay $5,000 per month (plus GST) to Rayleigh Capital to provide liaison, coordination, corporate growth strategy, communications and other services to the Company. The Company and Rayleigh Capital act at arm’s length, and Rayleigh Capital has no present interest, directly or indirectly, in the Company or its securities. The fee to be paid by the Company to Rayleigh Capital under the Agreement is for services only.

CanAlaska CEO, Cory Belyk, comments, “Since 2019 I have had the pleasure to work for, along side, and as a leader with Peter and Karl at CanAlaska. The gracious sharing of their immense knowledge base in the junior capital markets and geological sciences has been a real benefit to my growth and the growth of the newly formed CanAlaska exploration team led by Mr. Nathan Bridge. The current and future successes of CanAlaska will in many ways come from the solid foundation built by these two very talented individuals. It has been an incredible honour to work with Peter and Karl, and I look forward to building on their CanAlaska legacy in the years to come at a time when a carbon-free energy future is being realized on a global scale.”

 About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQX: CVVUF; Frankfurt: DH7N) holds interests in approximately 300,000 hectares (750,000 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.

The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska’s Vice President, Exploration.

For further information visit www.canalaska.com.

On behalf of the Board of Directors

“Cory Belyk”

Cory Belyk, P.Geo., FGC
CEO, Executive Vice-President and Director
CanAlaska Uranium Ltd.

Contacts:

Cory Belyk, CEO and Executive Vice President
Tel: +1.604.688.3211 x 138
Email: [email protected]

General Enquiry
Tel: +1.604.688.3211
Email: [email protected]

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.