Saskatoon, Saskatchewan — January 6, 2026 — Leads & Copy — CanAlaska Uranium Ltd. is set to commence its approved $15 million exploration program at the West McArthur Joint Venture project in the southeastern Athabasca Basin. The 2026 program will concentrate on extending the Pike Zone high-grade mineralization to identify further high-grade uranium zones and the continuation of the large hydrothermal alteration system.
CanAlaska, holding an estimated 88.86% ownership in the Project due to sole-funding exploration in 2025, will co-fund the 2026 exploration program with Cameco Corporation under the Joint Venture. CanAlaska operates the West McArthur project.
During the 2025 exploration program, CanAlaska completed winter and summer drilling, significantly expanding the Pike Zone’s high-grade footprint. Winter drilling highlights included composite intervals in drillhole WMA079-01, intersecting 8.6 meters at 34.59% U3O8, including 5.5 meters at 53.90% U3O8 at the unconformity, and drillhole WMA076-01, intersecting 14.8 meters at 14.71% U3O8, including 5.4 meters at 39.67% U3O8 at the unconformity. Summer drilling focused on step outs from the Pike Zone, revealing that strong hydrothermal alteration, structural disruption, and uranium mineralization appear to increase to the southwest along the C10S trend, approximately 250 meters from the high-grade zone. The mineralized footprint of the Pike Zone at the unconformity has now been traced over 500 meters, with a 140-meter-long high-grade pod outlined by multiple drill fences.
The 2026 winter exploration program, beginning in early January, will employ three drills, primarily focusing on step outs to the southwest and northeast along the C10S trend. The unconformity target area southwest of the high-grade core was sparsely tested over 250 meters during the 2025 summer program and remains untested for approximately 800 meters further southwest, where alteration and fault structures were previously intersected. Approximately 9 kilometers of untested target corridor exists from this area to the southwest property boundary. Northeast of the Pike Zone, the unconformity target area remains sparsely tested, with one drillhole completed approximately 500 meters along strike, where alteration and fault structures were previously intersected. The C10S corridor to the northeast remains poorly tested over approximately six kilometers to the northeastern property boundary, with anomalous alteration, structure, and geochemistry identified on multiple drill fences between the Pike Zone and 42 Zone.
Outside of the Pike Zone and 42 Zone, the 16-kilometer-long C10/C10S conductive corridor remains relatively untested. The company believes there is significant potential for additional unconformity-related high-grade zones of uranium mineralization.
The 2026 program also includes a ground-based electromagnetic survey to investigate the extension of the Epp Lake conductor, using a Stepwise Moving Loop Time Domain Electromagnetics survey conducted by Abitibi Geophysics, similar to the survey that led to the discovery of the Pike Zone.
Geochemical assay results from the summer portion of the 2025 exploration program are pending.
CanAlaska CEO Cory Belyk noted that the 2025 program successfully delineated and expanded the Pike Zone and evaluated the nearby C10S corridor for additional uranium mineralization. The Pike Zone unconformity uranium mineralization now has a strike length of 500 meters and remains open in both directions.
Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., is the Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved this release.
Cory Belyk, CEO and President
General Enquiry
Tel: +1.306.668.6900
Tel: +1.306.668.6915
Email: cbelyk@canalaska.com
Email: info@canalaska.com
Source: CanAlaska Uranium Ltd.
