CanAlaska Intersects New High-Grade Uranium Mineralization 250 Metres Northeast of Pike Zone on the West McArthur JV

The most recent news (March 2, 2026) reports that CanAlaska has intersected a new zone of high-grade uranium mineralization at the West McArthur Joint Venture. Drillhole WMA101-02 returned 5.2 metres at 3.10% eU3O8, located 250 metres northeast of the main Pike Zone pod. This discovery significantly expands the mineralized footprint along the C10S corridor. The company currently has three drills active as part of an ongoing 2026 winter program aiming for 20 to 25 unconformity target intersections.

This news is Material - Positive because it confirms the "string of pearls" theory for the C10S corridor. By hitting high-grade mineralization 250 metres away from the known Pike Zone pod, the company has demonstrated that mineralization is not isolated but part of a larger, fertile hydrothermal system. - Scale: The expansion to the northeast, combined with a 50-metre expansion to the southwest reported in the same release, suggests the mineralized system is much larger than the previously defined 500-metre strike. - Confidence: The results validate the company’s geological model and the use of the $15 million 2026 budget, which is co-funded by industry giant Cameco. - Continuity: This follows a consistent trend of high-grade hits (e.g., 34.59% U3O8 in July 2025) and successful geophysical targeting.

CanAlaska Uranium Ltd. is a project generator and explorer focused on the Athabasca Basin. Its flagship is the West McArthur Project, a Joint Venture with Cameco Corporation (CanAlaska ~88.89% owner and operator). The project is located 20km west of the world-class McArthur River mine. The primary discovery is the Pike Zone, characterized by ultra-high-grade unconformity-hosted uranium.