Canalaska Uranium Ltd · TSXV:CVV
Canalaska Uranium — Investor Presentation (September 2026)
40 slides from Canalaska Uranium's investor presentation, Sep 4, 2026
Slide 1: Pike Zone and Beyond: CanAlaska's Late Summer 2026 Update
CORPORATE PRESENTATION Pike Zone and Beyond: CanAlaska’s Late Summer 2026 Update TSX.V: CVV OTCQX: CVVUF FRANKFURT: DH7 4 Sept 2026
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer TSX.V-CVV Cautionary Statement Regarding Forward-Looking Statements This presentation contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of Canadian securities laws. Where a forward-looking statement expr
Slide 3: Disclaimer: Market Data and Technical Information
Disclaimer TSX.V-CVV Market and Industry Data Forward Looking Statements This presentation includes market and industry data that has been obtained from third party sources, including industry publications. CanAlaska believes that the industry data is accurate and that the estimates and assumptions
Slide 4: West McArthur Expansion and New Targets
“Pike Zone” Ownership West McArthur Discovery Expands CanAlaska = 88.86% Expansion and New Targets at West McArthur Cameco = 11.14% 2025 Exploration Success: Pike Zone and C10S Corridor ● Expansion of High-Grade Uranium ● Ultra High-Grades continue ● Assays up to 85.4% U3O8 ● Unconformity and Upper
Slide 5: West McArthur Extension and Beyond
West McArthur Ownership Key X, Nebula, Cree East and West McArthur Extension CanAlaska = 88.86% Waterbury South Ownership and Beyond Cameco = 11.14% CanAlaska = 100% 2026 Plan and Summary: Pike Zone and C10S Corridor ● Extension focused ● Seek Ultra High-Grade pod/pods ● Unconformity and Upper Basem
Slide 6: CanAlaska Advantage
CanAlaska Advantage TSX.V-CVV Providing opportunity for a Tier 1 uranium discovery Right Strategy Right Team Right Assets ● Focus on Tier 1 Uranium ● Cameco and Orano Trained ● 350,000 ha (865,000 ac) ● Safe and Secure Jurisdiction ● Athabasca Basin Leaders ● Partners: Cameco; Denison ● Eastern Atha
Slide 7: Corporate Structure
Corporate Structure TSX.V-CVV Well structured and Well financed Share Structure September 4, 2026 Share Price C$0.38 Shares Outstanding 220.61 M Fully-Diluted Shares 241.83 M Market Capitalization C$83.83 M Cash C$24.0 M No Warrants Outstanding Management est. 4.19%, 10.64% fully diluted CanAlaska U
Slide 8: Analyst Coverage
Corporate Structure TSX.V-CVV Analyst Coverage Analyst Coverage as of September 4, 2026 8
Slide 9: Technical Strength
Technical Strength TSX.V-CVV Decades of Athabasca Discovery Experience Rebecca Kupchinski, P. Geo. EXPLORATION MANAGER Management Team Rebecca Kupchinski has over six years of experience supporting and managing exploration and delineation drilling programs in the Athabasca Basin. She was a part of t
Slide 10: Technical and Political Strength
Technical and Political Strength TSX.V-CVV 150 Years of Uranium Discovery and Market Experience Board of Directors Karen Lloyd, Director and Chair of the Board Peter G. Dasler, Director Ms. Lloyd (B. Comm., M.B.A.) comes from a strong Mr. Dasler, in 2004, positioned CanAlaska Uranium, (then strateg
Slide 11: Uranium Bull Market Underway
Uranium Bull Market Underway TSX.V-CVV Step-Change to Incentivize New Production/Discoveries Long Term Fundamentals have never been better! Step-Change Zone URANIUM SPOT $89.65 USD 11
Slide 12: Uranium Bull Market Underway: Term Contracting Prices
Uranium Bull Market Underway TSX.V-CVV Term Contracting Prices MOVING UPWARD Long Term Fundamentals have never been better! 12 Source: UxC, 31 Aug 2026
Slide 13: WNA 2025 Takeaways – Market Simply Needs to Respond
Uranium Bull Market Underway TSX.V-CVV WNA 2025 Takeaways – Market Simply Needs to Respond 165,000,000 lbs U 220,000,000 lbs U WNA 2025 data Is ‘Planned’ and Reference Scenario ‘Prospective’ (Middle of the Road is Conservative) really in play at today’s U price? Cigar McArthur (?) At Risk? Impact of
Slide 14: Indigenous Exploration Agreements Completed
Indigenous Exploration Agreements Completed All Three Agreements Done: ● Ya’thi Nene ● English River First Nation ● Kineepik Metis Local Inc ● Derisks exploration risk ● Good Social Governance First Athabasca Junior Explorer to Complete Agreements 14 TSX.V: CVV OTCQX: CVVUF Frankfurt: DH7
Slide 15: Active Explorer & Project Generator
Active Explorer & Project Generator TSX.V-CVV Eastern Athabasca Basin Focus – Aggressive 2026 Plans 2026 Work: West McArthur, Moon Lake South, Key X, Nebula, Waterbury South and Cree East in Eastern Athabasca Basin Region Focused Exploration Region West McArthur ($13.33M CVV share) Drilling on Pike
Slide 16: CanAlaska: 2026 Drill Activities
CanAlaska: 2026 Drill Activities TSX.V-CVV Drilling Catalyst Summary Splitting Ultra High-Grade Core DRILLING PROGRAMS Jan - Apr: West McArthur, SK Uranium Feb - Apr: Key X, SK Uranium Feb - Apr: Nebula, SK Uranium Jun - Oct: West McArthur, SK Uranium Jun - Oct: Key X/Voyager/Enterprise, SK Uranium
Slide 17: West McArthur: Pike Zone Discovery
West McArthur: Pike Zone Discovery TSX.V-CVV A high-grade corridor near the world’s richest uranium mine Ownership CanAlaska = 88.86% 68M lbs @ 7.99% U3O8 Cameco = 11.14% Cameco and Orano Cameco and Orano Fox Lake Deposit1 McArthur River Uranium Mine “42 Zone” McArthur River is the world’s richest P
Slide 18: Pike Zone Ultra High-Grade Uranium
Pike Zone Ultra High-Grade Uranium TSX.V-CVV Winter 2025: Infill and Extension – Assays Up To 85.4% U3O8 Winter Focus: Infill and Extension of Pike Zone Assay Results Show Ultra High Grade: Up To 85.4% U3O8 250 metres Uranium Mineralization at Unconformity Target Continuity of High- Grade Footprint
Slide 19: Pike Zone Ultra High-Grade Uranium
Pike Zone Ultra High-Grade Uranium TSX.V-CVV Summer 2025 – Step Out Drilling - System Improving to West Summer Focus: Step Out Drilling Focused on New ‘Pearls’ Mineralized Corridor Extended Over 250 Metres to West Mineralizing System Open and Improving to West Mineralization, Alteration, Structure –
Slide 20: Pike Zone Ultra High-Grade Uranium
Pike Zone Ultra High-Grade Uranium TSX.V-CVV Summer 2025 – Step Out Drilling - System Improving to West Summer Focus: Step Out Drilling Focused on New ‘Pearls’ Mineralized Corridor Extended Over 250 Metres to West Mineralizing System Open and Improving WMA076-04 to West (13 m east of Ultra High Grad
Slide 21: Pike Zone Ultra High-Grade Uranium
Pike Zone Ultra High-Grade Uranium TSX.V-CVV Winter 2026 – Step Out Drilling - System Improving to West 2026 Focus: Step Out Drilling Focused on New ‘Pearls’ Budget Increased 20% Year-Over-Year $15 Million Budget For West McArthur Project Mineralizing System Open and Improving to West 21
Slide 22: Pike Zone Ultra High-Grade Uranium
Pike Zone Ultra High-Grade Uranium TSX.V-CVV Winter 2026 Update: mineralization extension 2026 Focus: Step Out Drilling Focused on New ‘Pearls’ Intense alteration 1,000 metres of uranium mineralization Parallel faulted target in hangingwall to SE drill confirmed 22
Slide 23: Pike Zone Extension
Pike Zone Extension TSX.V-CVV Winter 2026 Update: Northeast 250 metres Sandstone and Basement: - Sooty pyrite - Clay - Bleaching - High-Grade Uranium 23
Slide 24: Pike Zone Extension
Pike Zone Extension TSX.V-CVV Winter 2026 Update: Southwest Strong Alteration Increasing Intense alteration in lower sandstone: - Sooty pyrite - Clay - Bleaching - Uranium 24
Slide 25: Pike Zone Ultra High-Grade Uranium
Pike Zone Ultra High-Grade Uranium TSX.V-CVV Summer 2026 Plan: mineralization extension, parallel fault 2026 Focus: Step Out Drilling Focused on New ‘Pearls’ 1,000 metres of uranium mineralization Parallel faulted target Parallel Structure in hangingwall to SE Identified for Drilling drill confirmed
Slide 26: West McArthur: Epp Lake Corridor
West McArthur: Epp Lake Corridor TSX.V-CVV Geophysics identifies NEW Exploration Targets 26
Slide 27: West McArthur: Epp Lake Corridor
West McArthur: Epp Lake Corridor TSX.V-CVV Geophysics identifies NEW Exploration Targets Alteration and Uranium enrichment in lower sandstone: - Clay/Illite - Uranium 27
Slide 28: CanAlaska Advantage
CanAlaska Advantage TSX.V-CVV Small Environmental Footprint, Highly Cost Effective Pike Zone Drills and Drill Pads June 2026 Only junior using Directional Drilling Technology Significantly reduced environmental impact CanAlaska Geoscientists plan and execute Optimized 7,900 m (saved $3.15M) in 2024
Slide 29: Key Extension Project 2026
Key Extension Project 2026 (100% CVV) Basement-Hosted Unconformity Uranium: ● 15 kilometres SW of Key Lake Mill ● Second drill program by CanAlaska ● Three priority target areas totalling 14 kilometres or target strike length ● First program (2023) intersected right rocks with structure, alteration,
Slide 30: Key Extension Project 2026 Assays Pending
Key Extension Project 2026 Assays Pending (100% CVV) Basement-Hosted Unconformity Uranium: ● Graphite, Faults, Alteration Winter and Summer Drilling 30 TSX.V: CVV OTCQX: CVVUF Frankfurt: DH7
Slide 31: Key Extension Project 2026
Key Extension Project 2026 (100% CVV) Basement-Hosted Unconformity Uranium: ● 15 kilometres SW of Key Lake Mill ● Third drill program by CanAlaska ● Three priority target areas totalling 14 kilometres or target strike length ● First program (2023) intersected right rocks with structure, alteration,
Slide 32: Nebula Project 2026 Assays Pending
Nebula Project 2026 Assays Pending (100% CVV) Up Ice Target Area Basement-Hosted Unconformity Uranium: ● 30 kilometres SSW of Key Lake Mill ● First drill program by CanAlaska ● Two priority target areas totalling 20 kilometres target strike length ● Geologic features very similar to Cameco’s Eagle P
Slide 33: Nebula Project 2026 Assays Pending
Nebula Project 2026 Assays Pending (100% CVV) Graphite, Faulting, Alteration 33 TSX.V: CVV OTCQX: CVVUF Frankfurt: DH7
Slide 34: Waterbury South Project 2026
Waterbury South Project 2026 (100% CVV) Unconformity Uranium: ● 10 kilometres E-SE of Cigar Lake Mine ● Drilled by CanAlaska in 2022 ● Strong Uranium enrichment; intense alteration in sandstone and basement ● Strong Nickel, Cobalt, Arsenic mineralization (Cigar Lake style) ● 400 metres depth to unco
Slide 35: Cree East Project Progress
Cree East Project Progress TSX.V-CVV Nexus Terminated Option Agreement Modern Airborne Geophysics in 2026 to Identify New Targets 35
Slide 36: New Exploration Drilling at Cree East
New Exploration Drilling at Cree East TSX.V-CVV Pike Zone Alteration Comparison: Grey Sandstone Impressive Alteration Intersected! Alteration reminiscent of that associated with ultra high-grades 36
Slide 37: New Exploration Opportunities
New Exploration Opportunities TSX.V-CVV Up to $44M in Exploration PLUS Cash and Shares 2020 to 2026: (NEW staking) $44M in +20 projects acquired Recent Deals Cree East (Returned) • $19M Option Deal Geikie, Marshall, N Millennium • A$15M Option Deal Constellation (Returned) • $5M Option Deal Waterbur
Slide 38: CanAlaska Pipeline
CanAlaska Pipeline TSX.V-CVV Early Stage Discovery – Forward Value Proposition $60.7B Market Cap West McArthur Cree East $9.9B Moon Lake South Market Cap Waterbury South Key Lake Area Other JV/Options Project Generation Arrow Deposit $0.08B Market Cap McArthur River Mine Courtesy of Cameco Concept P
Slide 39: CanAlaska Ticks All the Boxes
CanAlaska Ticks All the Boxes Photo of 69.1% U3O8 from Pike Zone ❏ Project Generator Model ❏ Major Industry Partners ❏ Experienced Management ❏ World Class Targets ❏ Co-Funding ❏ Low Price ❏ High Growth Potential ❏ Sector Recovery/Strong Fundamentals ❏ Multiple Trigger Events ❏ Advancing An Ultra Hi
Slide 40: Join Us For The Discovery Journey!
Join Us For The Discovery Journey! HEAD OFFICE CanAlaska Uranium Ltd. Unit 204, 75-24th Street East Saskatoon, SK S7K 0K3 GET IN TOUCH Tel: 604.688.3211 CORPORATE COMMUNICATIONS Carrie Howes Email: chowes@canalaska.com Tel: 306.668.6925 TSX.V: CVV OTCQX: CVVUF FRANKFURT: DH7
CanAlaska Uranium — Investor Presentation (September 2026) on 6ix