CanAlaska Announces Results from Winter Geophysical Program on West McArthur Project

CanAlaska Uranium Ltd. has announced the results of its winter geophysical program on the West McArthur Joint Venture Project in Saskatchewan's eastern Athabasca Basin, revealing multiple strong conductors that represent new drill-ready exploration targets. The company completed 78 kilometres of Stepwise Moving Loop Time Domain Electromagnetics (SWML-TDEM) surveying across four survey lines in the Epp Lake Corridor, identifying over 20 kilometres of new conductor strike length within a broad magnetic low corridor.

The geophysical survey successfully mapped a historical ZTEM conductivity anomaly using high-resolution ground-based methods, revealing multiple northwest-dipping and southwest-trending conductors stacked within the corridor. Maxwell plate modelling confirmed a strong association between the magnetic low corridor and the identified conductors, with the strongest conductivity signatures occurring in the northern survey lines. Historical drilling in the area has previously identified uranium and clay pathfinder anomalies, including prominent lower sandstone illite anomalies and pervasive uranium pathfinder halos.

The discovery is particularly significant given the project's location in the eastern Athabasca Basin, where northeast-southwest trending structural corridors host several prominent high-grade unconformity-associated uranium deposits including McArthur River, Phoenix, and the Eagle Point system. The combination of newly mapped conductors with existing pathfinder anomalism from historical drilling creates what management believes represents a substantial opportunity for discovering high-grade unconformity uranium mineralization.

The West McArthur project is operated by CanAlaska under a joint venture with Cameco Corporation, with CanAlaska holding an 88.89% ownership stake. The 2026 exploration program is being co-funded by both partners under the joint venture agreement. Management is currently analyzing the new geophysical data alongside historical knowledge to refine target selection for an upcoming summer drill program, positioning the company for potential discovery in one of Canada's premier uranium districts.