CanAlaska’s Waterbury East property, totaling 1,337 ha is located in the northeastern Athabasca Basin, Saskatchewan, Canada. The project has approximately 200 m of Athabasca sandstone cover overlying the basement rocks of the Wollaston Domain. The claim has been subject to historical regional and project scale ground and airborne geophysical surveys that highlight at 7 km long northeasterly-trending VTEM conductivity corridor with a coincident AIIP anomaly. Drill testing to date on the corridor has highlighted faulted and altered basement rocks with uranium enrichment. Off property to the south, an AIIP anomaly of similar style and intensity is present on the Dawn Lake project that contains mineralized historical drillhole Q11A-006 (1.86% U₃O₈ / 7.2 m).

The Project is currently under option to Bayridge Resources. Recently, under the option agreement, the Company has completed a project wide VTEM survey. The goal of the survey was to identify and prioritize basement conductors, characterize lithological and alteration variations, and map the structural setting of the project to support future drill targets. In October 2024, the Company completed a small drill program to test the VTEM targets.

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