Early Warning Report Issued Pursuant to National Instrument 62-103 in Respect of the Acquisition of Shares of Nexus Uranium Corp. (NEXU)

Core Viewpoint - CanAlaska Uranium Ltd. has acquired 3,042,123 common shares of Nexus Uranium Corp., increasing its ownership from 6.8% to approximately 15.3% of the outstanding shares, as part of a property option agreement [3]. Company Summary - CanAlaska Uranium Ltd. is a Canadian exploration company focused on high-grade uranium deposits in the Athabasca Basin, holding interests in approximately 500,000 hectares [6]. - The company is advancing the Pike Zone discovery, a new high-grade uranium find on its West McArthur Joint Venture project [6]. - CanAlaska employs a hybrid project generator model, acquiring and selling prospective projects while executing exploration programs on strategic land holdings [6]. - The company has attracted international mining partners, including Cameco Corporation and Denison Mines [6]. Acquisition Details - The acquisition of shares from Nexus Uranium Corp. was made under the Cree East property option agreement dated March 18, 2024 [3]. - Prior to the acquisition, CanAlaska owned 2,091,269 shares of NEXU, and after the acquisition, it now controls 5,133,392 shares [3]. - The shares acquired are held solely for investment purposes, with the potential for future acquisitions or disposals of NEXU shares [4].