CanAlaska reports 9.47% nickel mineralization at Manibridge

All four holes return high-grade nickel mineralization

Vancouver, Canada, March 7 , 2019 — CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to report intersection of high-grade sulphide nickel mineralization at Manibridge, Manitoba. All four holes from the recently completed drilling program at the North Manibridge Zone returned high-grade nickel up to 9.47% contained within semi-massive and disseminated sulphide mineralization.

The recently completed four hole, 1,000 metre drill program intersected a broad fold structure, 2.5 kilometres north of the past-producing high-grade Manibridge nickel mine (Figure 1). Multiple high-grade nickel assays were reported for all drill holes, with the key intercepts as follows and as listed in Table 1 below.:

19MB-01: Between 131.0 and 141.0 metres, there are two zones of nickel mineralization grading 3.03% Ni over 1.25 metres and 0.95% Ni over 5.45 metres within disseminated sulphides in amphibolite.

19MB-02: A zone of high-grade nickel mineralization was encountered between 128.05 and 134.60 metres grading 2.39% nickel. Included in this zone are 0.95 metres at 9.47% Ni (including 2.4 lbs/tonne Co) and 0.60 metres at 5.71% Ni and 0.66% Cu. The mineralization is hosted within disseminated to semi-massive sulphides in amphibolite and serpentinized ultramafics.

19MB-03: Two zones of high-grade nickel mineralization occur in 19MB-03. The first zone is located between 133.83 and 135.94 metres grading 4.30% Ni over 2.11 metres, including 5.84% Ni over 1.48 metres. The second zone is located between 138.72 and 143.50 metres grading 1.13% Ni, including 4.43% Ni over 0.50 metres and 1.14% Ni over 1.50 metres. In both cases, the mineralization is hosted within disseminated and semi-massive sulphides in pegmatite, amphibolite and serpentinized ultramafics.

19MB-04: A zone of high-grade nickel mineralization was encountered between 87.20 and 87.75 metres grading 6.40% Ni and 0.55% Cu. This hole was drilled to test a strong EM conductor but the sulphides intersected do not appear to explain the target. The mineralization is hosted within disseminated to semi-massive sulphide in amphibolite.

The mineralization is composed of pyrite and pyrrhotite with accessory pentlandite and chalcopyrite, and has a nickel tenor range between 16% and 24% which reflects the low sulphide content of these rocks.

Table 1: List of Mineralized Intersections

CanAlaska President Peter Dasler comments, “Drill data are being correlated with historic drilling but it appears that the current drill intercepts are close to true widths of mineralization. It is pleasing to see significant cobalt values with the higher-grade nickel results. We received several expressions of interest in this project at the just completed Prospectors and Developers Association of Canada conference, and are particularly interested in working with outside parties to help develop our nickel projects in Manitoba. Photographs of drill core and the drill sections are shown on the company website”

About CanAlaska Uranium 

CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) ) holds interests in approximately 152,000 hectares (375,000 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 at 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 properties prospective for nickel, copper, gold and diamonds.

For further information visit www.canalaska.com.

The qualified technical person for this news release is Dr Karl Schimann, P. Geo, CanAlaska director and VP Exploration.

On behalf of the Board of Directors

“Peter Dasler”

Peter Dasler, P. Geo.,  President & CEO

Contacts:
Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
Email: [email protected]
Cory Belyk, COO
Tel: +1.604.688.3211 x 306
Email: [email protected]

Neither 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, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. 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 revise them to reflect the occurrence of future unanticipated events.