Additional Uranium Opportunities

Geikie

CanAlaska’s Geikie property, totaling 33,897 ha, is located 7 km Southeast of the present-day Athabasca Basin edge, in Saskatchewan, Canada. The property straddles the extension of a fertile corridor of biotite gneisses hosting the Agip S high-grade uranium showing (up to 58% U3O8), and the recent Baselode Energy radioactive intersections near Beckett Lake. These uranium showings appear similar to 92 Energy’s GM uranium zone and Baselode Energy’s ACKIO uranium zone, recently discovered approximately 10 km away. On the Geikie property, the Mud Lake uranium-molybdenum showing, containing up to 0.225% U3O8, 5.2% Mo, and 1.4% Cu, and the Marina lead-zinc showings, containing up to 2.03% Pb, 7.2% Zn and 0.93 oz/t Ag, have been documented. The company is actively seeking joint-venture partners for its Geikie project.

North Millennium

CanAlaska’s North Millennium property, totaling 5,873 ha, is located in the Eastern Athabasca Basin, Saskatchewan, Canada. The property is located seven km from Cameco’s Millennium uranium deposit. Northeast trending conductors on the project are disrupted and offset by a North-South trending lineament that can be traced down through the Millennium deposit. This North-South feature is interpreted to be the continuation of the Mother Fault, which has been interpreted to be the main conduit for ore-bearing fluids to enter the basement rocks and form the Millennium deposit. The company is actively seeking joint-venture partners for its North Millennium project.

McTavish

CanAlaska’s McTavish property, totaling 2,685 ha, is located in the Eastern Athabasca Basin, Saskatchewan, Canada. The project is located 5 km northwest of Cameco’s Millennium uranium deposit. The project area has been periodically explored for unconformity-type uranium deposits since the late 1970’s with work on and adjacent to the project consisting of airborne and ground geophysical surveys, boulder prospecting, and diamond drilling. The most recent work, conducted by Kodiak Exploration Ltd. and CanAlaska Uranium Ltd., between 2006 and 2010, included airborne and ground geophysical surveys which identified two conductive corridors, the D-1 and D-2, that transect the project, followed by five drillholes on the project grounds. The most encouraging drill results in the area are 400 m to the south of the property along the D-2 conductive corridor in WM-09-04, which intersected a mineralized fracture immediately above the unconformity (0.05 m at 0.13% U3O8) and a wide graphitic-pyritic pelite interval in the basement

Marshall

CanAlaska’s Marshall property, totaling 11,225 ha, is located in the Eastern Athabasca Basin, Saskatchewan, Canada. The project is 11 km west of Cameco’s Millennium uranium deposit. The project area has been subject to minimal historical exploration for unconformity-type uranium deposits, mainly centered airborne and ground geophysical surveys, and boulder prospecting. No diamond drilling has been completed on the Marshall project to date. The property is centered on a magnetic basin-like feature outlined by the airborne and ground geophysics, interpreted to represent a metasedimentary basing with a graphitic conductor at it’s base that is cross cut by an interpreted NE-SW magnetic and conductive structure. The company is actively seeking joint-venture partners for its Marshall project.

Chymko

CanAlaska’s Chymko property, totaling 32,603 ha, straddles the south-central edge of the present-day Athabasca Basin in Saskatchewan, Canada. The property is adjacent to the Virgin River Shear Zone, which hosts the Centennial and Dufferin Lake unconformity uranium deposits. The project area has been historically explored by regional airborne geophysical and ground lake sediment surveys. The Chymko property has experienced minimal drill testing with only two drillholes reaching the target depth, one of which intersected graphitic metasediments. The magnetic and electromagnetic surveys on the property define a prominent NW-SE structural pattern where electromagnetic conductors are concentrated in the magnetic lows. This geophysical relationship is typical of many unconformity uranium deposits in the Eastern Athabasca Basin. The property also contains the Chymko uranium showing, SMDI #2061, which consists of vein-controlled uranium mineralization in hydrothermally altered felsic gneisses in the basement rocks outside of the present-day Athabasca Basin. The company is actively seeking joint-venture partners for its Chymko project.

Carswell

CanAlaska’s Carswell property, totaling 13,352 ha, is located in the western Athabasca Basin, Saskatchewan, Canada. Within the western Athabasca Basin, some of the most significant undeveloped uranium resources exist in the Shea Creek, Triple R, and Arrow deposits. The property covers a conductive structural corridor that joins the Beatty River fault zone to Carswell area, wrapping around a large magnetic-high body, which on the opposite side of the magnetic feature, is mirrored by the Saskatoon Lake conductor. The presence of conductive corridors along the edge of magnetic-high features creates a strong competency contrast that is important in the formation of large structural traps. The Saskatoon Lake conductor, which is host to the high-grade Shea Creek uranium deposits, shows an apparent correlation to these structural corridors between the Beatty River fault zone and Carswell area, presenting a compelling exploration target. The company is actively seeking joint-venture partners for its Carswell project.

Moon Lake South

CanAlaska holds a 25% ownership in the Moon Lake South JV operated by our partner Denison Mines Corporation. The property is host to a five km long Northeast trending conductive corridor known as the CR-3 conductor. The CR-3 conductor is located two kilometres west of the K-trend, host to the Gryphon Deposit on Denison’s adjacent Wheeler River property. In 2016, Denison drilled one diamond drillhole (MS-16-01) near the southern boundary of the Moon Lake project, intersecting fractured and friable sandstone with uranium mineralization immediately at the unconformity (0.1% U3O8 over 0.5 m from 450.3 m). In 2021, Denison completed four drillholes on the project, intersecting additional uranium mineralization along the CR-3 corridor in MS-21-02 (0.14% eU3O8 over 0.2 m from 488.5 m) in the sandstone and MS-21-06 (0.12% eU3O8 over 0.2 m from 550.6 m) in the basement.

Watson

CanAlaska’s Watson property, totaling 10,085 ha, is located 55 km from the northeastern margin of the present-day Athabasca Basin, Saskatchewan, Canada. The Watson project is part of CanAlaska’s NE Wollaston land package, where the main target is basement-hosted uranium deposits similar to Eagle Point or Arrow. The project is located on a portion of a long linear conductor coincident with the interpreted location of the Collins Bay Fault where a conductive splay structure diverges from the main trend in a more easterly direction. Coincident with this splay are previously defined gravity lows, electromagnetic (EM) “bright spots”, anomalous uranium-in-soil and biogeochemical samples, and an altered metasedimentary rock sample that returned 1.41% U3O8. These results appear to indicate the presence of uranium mineralizing systems that have not been drill-tested. The company is actively seeking joint-venture partners for its Watson project.

Warren

CanAlaska’s Warren property, totaling 4,901 ha, is located 75 km from the northeastern margin of the present-day Athabasca Basin, Saskatchewan, Canada.  The Warren project is part of CanAlaska’s NE Wollaston land package, where the main target is basement-hosted uranium deposits similar to Eagle Point or Arrow. The project is located Northeast of the Watson Project straddling the interpreted Collins Bay Fault where the associated linear conductors are cross-cut by at least two east-northeast trending faults newly identified from historical magnetic surveys. These cross-cutting features also trend into the Burrill Project area to the west and the potential of this structural setting had not been recognized. As a result, no significant exploration has ever been completed in the Warren area. The company is actively seeking joint-venture partners for its Warren project.

Kingston

CanAlaska’s Kingston property, totaling 12,769 ha, is located 90 km from the northeastern margin of the present-day Athabasca Basin, Saskatchewan, Canada. The Kingston project is part of CanAlaska’s NE Wollaston land package, where the main target is basement-hosted uranium deposits similar to Eagle Point or Arrow. The property is host to the extension of the Collins Bay Fault zone, which is host to the Rabbit Lake, Collins Bay A, B and D, and Eagle Point orebodies to the southwest of the property. Previous exploration within the project area has identified a boulder train in the southeast corner of the project that is immediately down-ice of the Collins Bay Fault containing boulders with up to 0.57% (5,768 ppm) uranium. Additionally, anomalous nickel in lake sediments has been identified along the Maguire Fault in the northeast corner of the property. The company has identified several new uranium targets outlined by coincident electromagnetic and gravity anomalies. The company is actively seeking joint-venture partners for its Kingston project.

Burrill

CanAlaska’s Burrill property, totaling 5,601 ha, is located 60 km from the northeastern margin of the present-day Athabasca Basin, Saskatchewan, Canada. The Burrill project is part of CanAlaska’s NE Wollaston land package, where the main target is basement-hosted uranium deposits similar to Eagle Point or Arrow. The property is located Southeast of the Kingston Project covering the interpreted extension of the Maguire Fault and the cross-structures associated with the Warren Project. Strong EM conductors occur across the property in connection with the Maguire Fault trend and the east-northeast trending cross-cutting structures. The Burrill Project represents an area of interaction between conductor and fault trends and is coincident with anomalous lake sediment samples and uranium showings. This area has never been drill-tested. The company is actively seeking joint-venture partners for its Burrill project.

Waterbury East

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).