CanAlaska's High-Grade Discoveries at West McArthur and Manibridge Support Continued Drilling for Uranium and Nickel in 2020

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West McArthur uranium discovery growing in size and grade

Manibridge drill program intersects lenses with up to 12% nickel

Projects to be show-cased at upcoming November-January investment conferences

Vancouver, British Columbia--(Newsfile Corp. - November 13, 2019) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to advise shareholders that management is highly encouraged with the Company's high-grade drill discoveries at the West McArthur Joint Venture uranium project and at our 100% owned Manibridge Nickel project. Latest West McArthur high-grade drill results include 6.8% U3O8 over 0.70 metres within a broad 650 metre by 400 metre geochemical halo - extending from bedrock to near-surface - provide strong support for continued drilling of the Grid 5 target zone in 2020.

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At the Manibridge nickel project, drilling intersected high-grade mineralization - up to 12% Ni - at the north zone. Compilation of historical drill-hole data from the newly acquired Manibridge mine property has identified multiple new exploration targets. Follow-up drilling is warranted for discovery of high-grade sulphide nickel deposits.

The latest data from the West McArthur and Manibridge exploration discoveries is available on the Company's website: www.canalaska.com. These projects will be presented to investors and corporate groups at three upcoming resource investment conferences.

This month, CanAlaska will be presenting in London, United Kingdom at the 1-2-1 investment conference, as well as the Mines and Money conference. The 1-2-1 event matches projects to investment capital and is attended by mining and investment professionals with 2 days of meetings, market intelligence and investment ideas. The Mines and Money conference is Europe's largest mining investment event, attended by mining professionals, fund managers and investors. Both events will show-case the high-grade results received from the 2019 drill programs at West McArthur uranium JV and at the Company's 100% owned Manibridge nickel project.

In December, we are participating in the Saskatchewan Geological Survey Open House and, in January, management will be at the Vancouver Resource Investment Conference.

CanAlaska President Peter Dasler comments, "In 2019 we were very successful with funding and carrying-out drill programs on two key projects. Our new team operated efficiently at both projects to enable us to preserve significant working capital for future exploration. We are looking forward to show-casing our successes and being able to continue significant exploration programs in 2020 to support our shareholders and their investments. I encourage shareholders to meet with us at the upcoming conferences or contact the Company for any further information that they may require."

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: 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, M.Sc., P.Geo.
President & CEO

Contacts:

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

Cory Belyk, COO
Tel: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49691

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