CanAlaska Expands West McArthur Pike Zone Footprint To 500 Metres Strike Length

The November 6, 2025 news release provides the final drill results from the 2025 summer exploration program at the West McArthur Joint Venture project. The key highlights are: - The mineralized footprint of the Pike Zone has been expanded to a strike length of 500 metres, doubling the previously known length of 250 metres. The zone remains open. - A new high-grade uranium intersection in step-out drillhole WMA094-08 returned 4.3 metres of 5.89% eU3O8, including a higher-grade sub-interval. - Other step-out holes (WMA099, WMA099-03) also intersected mineralization, confirming the extension of the system. - The West McArthur Joint Venture has approved an increased budget of $15 million for the 2026 exploration program, representing a 20% increase over the 2025 budget. The program is scheduled to begin in early January 2026.

This news is materially positive. It successfully achieves the stated goals of the 2025 summer drill program, which were to step-out and expand the Pike Zone discovery. Doubling the strike length of the mineralized corridor to 500 metres is a significant geological accomplishment that directly adds to the project's potential scale. While the grades reported, such as 4.3m @ 5.89% eU3O8, are not as phenomenal as the winter program's intercepts (e.g., 5.5m @ 37.09% eU3O8), they are still exceptionally high-grade and, more importantly, prove the continuity of the high-grade system along strike.

This success stands in contrast to recent developments at the company's other projects. On September 24, 2025, CanAlaska announced that its partner, Nexus Uranium, had terminated the option on the Cree East project after a winter drill program yielded only low-grade results. While the company spun this positively, a partner walking away is a setback for that specific asset.

However, the market's focus is clearly on the West McArthur project. The positive results in this release, combined with the company successfully closing a C$15 million financing on October 30, 2025, demonstrate that the company is executing well on its flagship asset. The approval of an increased $15 million budget for 2026 indicates strong confidence from the company and its JV partner, Cameco, in the potential for further expansion of the Pike Zone. This news validates the exploration thesis and confirms that West McArthur is a premier, high-grade uranium discovery that is growing in scale.

CanAlaska Uranium Ltd. is a uranium exploration company focused on the Athabasca Basin in Saskatchewan, Canada. It operates a hybrid model, advancing its own projects while also using a project generator strategy to bring in partners to fund exploration on other properties.

The company's flagship asset is the West McArthur Joint Venture project, where it is the operator with an 85.97% interest (and increasing) alongside partner Cameco Corporation. The key discovery on this project is the Pike Zone, a high-grade, unconformity-associated uranium discovery. The company has been aggressively drilling this zone throughout 2025, consistently hitting wide intervals of very high-grade uranium and expanding its footprint. The project is strategically located 20 km west of Cameco's tier-1 McArthur River mine. All properties appear to be royalty-free at this stage, though some optioned-out projects have NSRs granted to CanAlaska.