CanAlaska Intersects 9.3 metres of 11.62% eU3O8 On Strike at Pike Zone

Core Insights - CanAlaska Uranium Ltd. reported a significant uranium intersection of 6.87% eU3O8 over 16.9 metres, including a higher grade of 11.62% eU3O8 over 9.3 metres at the Pike Zone within the West McArthur Joint Venture project in the eastern Athabasca Basin [16][17][25] Group 1: Drillhole Results - Drillhole WMA082-8 is the first completed on a new section (L85E) at the Pike Zone, extending high-grade uranium mineralization from previous drillholes [5][16] - The main mineralized zone starts approximately 24 metres into the basement, characterized by massive to semi-massive zones of uranium mineralization [16][18] - The summer drilling program aims to delineate and expand the ultra high-grade uranium discovery at the Pike Zone, with plans for approximately 9,000 metres of drilling [19][26] Group 2: Company Overview - CanAlaska Uranium Ltd. holds interests in approximately 500,000 hectares in Canada's Athabasca Basin and is positioned for discovery success in the world's richest uranium district [8] - The company is currently collaborating with Cameco on the West McArthur JV project and Denison on the Moon Lake South JV project [8] - CanAlaska is sole-funding the 2024 West McArthur program, increasing its majority ownership in the project [16][19] Group 3: Future Plans - The company plans to continue evaluating the extents of high-grade unconformity-associated uranium mineralization along the new L85E fence and other areas within the focus area [5][19] - Future drilling news releases are expected to include results from multiple drillholes, with the summer portion of the 2024 exploration program anticipated to be completed in September [32]