CanAlaska Uranium: Launch of a 3,000 meter drilling program on the Manibridge high-grade nickel project

Multiple targets within and near the historic nickel mineralized zone

CanAlaska has ongoing uranium and nickel exploration activities on several projects

Vancouver, Canada, March 8, 2022 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to announce that a planned 3,000 m drill program has commenced on the Manibridge high-grade nickel project in the Thompson Nickel Belt, Manitoba (Figure 1). Drilling will focus near the former Manibridge nickel mine which produced 1.3 million tonnes at an average grade of 2.55% nickel and 0.27% copper from 1971 to 1977.

Nine drill holes, totaling 3,000 m, are planned within one kilometer of the former high-grade nickel mine in production. The program is designed to test several different target concepts that will provide new geological information to help advance the Manibridge project to the next stages of exploration (Figure 2). This drilling program is funded solely by Metal Energy Corp. under a step acquisition option agreement. CanAlaska is the current operator of the project.

CanAlaska CEO Cory Belyk comments, “With the price of nickel taking off and nickel inventories at an all-time low, now is the time to advance high-grade sulphide nickel projects such as Manibridge to the next level of exploration and investment. We are delighted to be part of the inaugural drilling program under this new option agreement with Metal Energy.With CanAlaska’s extensive holdings in CanAlaska’s Thompson Nickel Belt, our shareholders are well positioned to take advantage of growing market fundamentals. nickel.

About the Manibridge Project

Manibridge spans 4,368 hectares and sits within the world-class Thompson Nickel Belt. The project is 20 kilometers southwest of Wabowden, Manitoba, which has significant infrastructure and capacity that has supported previous exploration programs, including year-round road access via Highway 6.

Other news

The Company is actively drilling on its 100% owned Waterbury South uranium project in the northeast Athabasca Basin near the Cigar Lake uranium mine.

In addition, the company’s staged moving loop time-domain electromagnetic survey continues on its West McArthur joint venture project.

A ground gravity survey on the company’s new Key Extension project has begun and is expected to be completed by the end of the month.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) owns interests in approximately 300,000 hectares (750,000 acres) in Canada’s Athabasca Basin, the “Saudi Arabia of uranium”. CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison on two of the company’s properties in the eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds promising properties for nickel, copper, gold and diamonds.

The Qualified Technical Person for this press release is Nathan Bridge, MSc., P.Geo., Vice President, Exploration of CanAlaska.

For more information, visit www.canalaska.com.

On behalf of the Board of Directors

“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.

contacts:

Peter Dasler, President
Phone. : +1.604.688.3211 extension 138
Email: [email protected]

Cory Belyk, CEO and Executive Vice President
Phone. : +1.604.688.3211 extension 138
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, its perception of historical trends, current conditions, expected future developments and other factors it deems appropriate in the circumstances. In addition, such statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that predictions, forecasts, projections and other forward-looking statements will prove to be inaccurate, some of which are beyond the control of the Company. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of unanticipated future events.

Comments are closed.