Canalaska Uranium Ltd · TSXV:CVV
Canalaska Uranium — Investor Presentation (August 2025)
41 slides from Canalaska Uranium's investor presentation, Aug 27, 2025
Slide 1: Pike Zone 2025: Drilling an Ultra High-Grade Uranium Discovery
CORPORATE PRESENTATION Pike Zone 2025: Drilling an Ultra High-Grade Uranium Discovery TSX.V: CVV OTCQX: CVVUF FRANKFURT: DH7 27 Aug 2025
Slide 2: Disclaimer: Forward Looking Statements
Disclaimer TSX.V-CVV Forward Looking Statements Forward Looking Statements DISCLAIMER: This presentation contains forward-looking information or forward-looking statements under Canadian and U.S. securities laws. These forward-looking statements include, among others, statements with respect to CanA
Slide 3: West McArthur Expansion and New Targets
“Pike Zone” Ownership West McArthur Discovery Expands CanAlaska = 85.97% Expansion and New Targets at West McArthur Cameco = 14.03% Q1-Q3 2024 2025 Winter Drilling Success: Pike Zone ● Expansion of High-Grade Uranium ● Ultra High-Grades continue ● Assays up to 85.4% U3O8 ● Unconformity and Upper Bas
Slide 4: 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 ● + 500,000 ha (+ 1,235,000 ac) ● Safe and Secure Jurisdiction ● Athabasca Basin Leaders ● Partners: Cameco; Denison ● Easter
Slide 5: Corporate Structure
Corporate Structure TSX.V-CVV Well structured, Well financed, Shareprice is moving Share Structure July 27, 2025 Share Price C$0.90 Shares Outstanding 188.85 M Fully-Diluted Shares 228.4 M Market Capitalization C$169.97 M Cash C$18.0 M Warrants at $0.43, $0.52, $0.56 and $0.75 Management est. 3.75%,
Slide 6: Corporate Structure: Analyst Coverage
Corporate Structure TSX.V-CVV New Analyst Coverage, Institutional Percentage is Climbing Data as of September 2024 Management 25% Institution 71% Retail Analyst Coverage as of August 27, 2025 6
Slide 7: Technical Strength
Technical Strength TSX.V-CVV Decades of Athabasca Discovery Experience Management Team Cory Belyk, P. Geo., FGC Harry Chan CHIEF EXECUTIVE OFFICER, PRESIDENT, DIRECTOR CHIEF FINANCIAL OFFICER, CORPORATE SECRETARY Mr. Belyk is a geologist with over 30 years of experience Harry Chan has over 20 years
Slide 8: 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 9: Recent News: Executive Orders Coming?
Recent News TSX.V-CVV Executive Orders Coming? (May 9, 2025) “…orders would set a goal of quadrupling the size of the U.S. fleet of nuclear power plants, from nearly 100 GW of electric capacity today to 400 GW by 2050.” 9
Slide 10: Big Tech Will Drive Decades-Long Nuclear Build-Out
Recent News TSX.V-CVV Big Tech Will Drive Decades-Long Nuclear Build-Out “…effectively tripling the current global output…by 2050.” “…global leaders in the tech industry are pooling their resources…” “…Meta, Amazon, and Google is roughly $4 trillion to $5 trillion in market value combined. It’s no s
Slide 11: Large and small-scale nuclear power
Large and small-scale nuclear power TSX.V-CVV Small Modular power plants are being built today! https://www.opg.com/projects-services/projects/nuclear/smr/darlington-smr/ ~300,000 homes Could be powered by a 300 MWe SMR Coming by 2030 to Darlington Ontario’s Darlington Nuclear Facility - 2025 … Even
Slide 12: Uranium Bull Market Underway
Uranium Bull Market Underway TSX.V-CVV Step-Change to Incentivize New Production/Discoveries Fundamentals have never been better for sustained and increasing Uranium Price Step-Change Zone URANIUM SPOT $74.80 USD 12
Slide 13: Uranium Bull Market Underway: Term Contracting Prices
Uranium Bull Market Underway TSX.V-CVV Term Contracting Prices are Stable; Will Incentivize? Fundamentals have never been better for sustained and increasing Uranium Price URANIUM SPOT $74.80 USD 13 Source: UxC, 25 Aug 2025
Slide 14: 24 Month Share Price Performance
Winter Assays 24 Month Share Price Best Holes Summer Drilling Starts Drilled To Date Performance Announced Positive U Market Conditions Remain Tariff Economics Market turned in early 2024 ● Warming up again? Positive Spot U rise, geo-politics, Fundamentals Growing fundamentals Pike Zone Ultra High-G
Slide 15: Peer Group Year Share Performance
Peer Group 2 Year Share Performance TSX.V-CVV CanAlaska ahead of peers – Pike Zone has changed CVV! CanAlaska Baselode Skyharbour Atha Energy Forum Energy F3 Uranium 15 CanAlaska is separating from former Peers with further discovery expansion
Slide 16: Mid / Producer Year Share Performance
Mid / Producer 2 Year Share Performance TSX.V-CVV Is CVV the next discoverer to move? CanAlaska Cameco Denison ISO Energy NexGen Paladin 16 CanAlaska is holding its own!
Slide 17: Active Explorer & Project Generator
Active Explorer & Project Generator TSX.V-CVV Eastern Athabasca Basin Focus: Mines, Mills, Infrastructure Research / Acquire / Deal / Discover High-Grade Uranium Targets Technical Evaluation and Staking Deals Minimize: Shareholder dilution Maximize: Capital gain 500,000+ hectares (1,236,000+ acres)
Slide 18: Aggressive 2025 Plans
Aggressive 2025 Plans TSX.V-CVV Eastern Athabasca Basin Focus 2025 Work: West McArthur, Moon Lake South, Cree East and other project advancement in Eastern Athabasca Basin Region Focused Exploration Region West McArthur ($12.5M) Drilling on Pike Zone and nearby targets Pike Zone Moon Lake South ($0.
Slide 19: CanAlaska: 2025 Drill Activities
CanAlaska: 2025 Drill Activities TSX.V-CVV News Schedule and Results: Active Programs on Discoveries Splitting Ultra High-Grade Core DRILLING PROGRAMS Jan - Apr: West McArthur, SK Uranium Jan - Apr: Cree East, SK Uranium Jun - Sep: West McArthur, SK Uranium Jul - Sep: Cree East, SK (Pending) Uranium
Slide 20: All Target Scenarios Covered
All Target Scenarios Covered TSX.V-CVV McArthur, Cigar, Phoenix , Arrow, Eagle Point Analogues CanAlaska has unconformity and basement-hosted uranium intersections in multiple situations SHALLOW KEY EXTENSION AREA Basement Targets at DEEP Surface to 900 WEST MCARTHUR metres Very Large Unconformity T
Slide 21: 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 = 85.97% 68M lbs @ 7.99% U3O8 Cameco = 14.03% Cameco and Orano Cameco and Orano Fox Lake Deposit McArthur River Uranium Mine “42 Zone” McArthur River is the world’s richest P2
Slide 22: Pike Zone Discovery
Pike Zone Discovery TSX.V-CVV 2004-2016 Early Aggressively Advancing in 2025 Days 2016-2021 ‘42 Zone’ 2022 New Data 2022 Pike Zone 2023 Growth 2024 High Grade 2025 Delineation 22
Slide 23: Pike Zone Discovery
Pike Zone Discovery TSX.V-CVV 2004-2016 Early Aggressively Advancing in 2025 Days 2016-2021 ‘42 Zone’ 2022 New Data 2022 Pike Zone 2023 Growth 2024 High Grade 2025 Delineation 2025-2026 New Pearls? 23
Slide 24: Pike Zone Discovery: Apr 2025 Infill and Extension
Pike Zone Discovery TSX.V-CVV 2004-2016 Early 22 Apr 2025 – Infill and Extension Days 2016-2021 ‘42 Zone’ 2022 New Data 2022 Pike Zone 2023 Growth 2024 High Grade Pre-Assay eU3O8 2025 Delineation 2025-2026 New Pearls? 24
Slide 25: Pike Zone Ultra High-Grade Uranium
Pike Zone Ultra High-Grade Uranium TSX.V-CVV Best hole drilled to date announced - 22 April 2025 25
Slide 26: Pike Zone Ultra High-Grade Uranium
Pike Zone Ultra High-Grade Uranium TSX.V-CVV Assays show INCREASED grades; UP TO 85.4% U3O8 250 metres Uranium Mineralization is OPEN in all directions Summer 2025 to focus on West and East Extensions or New ‘Pearls’ Drilling resumed in early June 2025 Assay Increase 17 July 2025 Assays announced Ju
Slide 27: Pike Zone Ultra High-Grade Uranium
Pike Zone Ultra High-Grade Uranium TSX.V-CVV Assays show INCREASED grades; UP TO 85.4% U3O8 250 metres Uranium Mineralization is OPEN in all directions Summer 2025 to focus on West and East Extensions or New ‘Pearls’ Drilling resumed in June 2025 Assays announced July 17, 2025 27
Slide 28: Pike Zone is Expanding
Pike Zone is Expanding TSX.V-CVV Ultra High-Grade Uranium: Unconformity and Basement 28
Slide 29: Pike Zone Expansion 2025: Pearls on a string
“Pearls on a string” Pike Zone Expansion 2025 McArthur River Long Section at Unconformity (Schematic) McArthur River Zones: ● McArthur River Zone 2 is a small target that contains 350M Lbs Uranium ● Series of “Pearls” on a string ● Drilling must account for small scale and gaps in the zones ● While
Slide 30: Zone 2 McArthur River – An Analogue?
Zone 2 McArthur River – An Analogue? TSX.V-CVV 80m long x 25m wide x 70m high (350m lbs uranium) High-Grade = 80 metre length Zone 2 at McArthur River is an extremely small target that contains a lot of uranium 30
Slide 31: Zone 2 McArthur River – An Analogue?
Zone 2 McArthur River – An Analogue? TSX.V-CVV Athabasca Basin – Home of the ‘GIANTS’ (350m lbs Uranium) High-Grade = 80 metre length Zone 2 at McArthur River is an extremely 350m lbs U small target that contains a lot of uranium 31
Slide 32: CanAlaska Advantage: Small Environmental Footprint
CanAlaska Advantage TSX.V-CVV Small Environmental Footprint, Highly Cost Effective Pike Zone Drills and Drill Pads June 2025 Only junior using Directional Drilling Technology Optimized 7,900 m (saved $3.15M) in 2024 Significantly reduced environmental impact Can be used for regional target testing 3
Slide 33: West McArthur Optimization Example
West McArthur Optimization Example TSX.V-CVV Directional Drilling turns 800 metres into 300 metres Pike Zone Collar Looking Down Hole Pike Zone Collar Section Collar 1 metre Offcuts around 500m and 650m depths Collar Eagle Point Ore Vein Unconformity Directional Mud Motor 33
Slide 34: Pike Zone Depth is a NON-ISSUE
Pike Zone Freeze Plant Depth is a NON-ISSUE Cigar Lake Mine Freezing: Temperature Holes with Sensors Surface Freeze Pipes ● Surface and Underground Freezing Brine Circulation Frozen Ground and Ore ● Freezing to Depths of 480 Metres Underground Freeze ● Sandstone column is Frozen Pipes ● Underground
Slide 35: Pike Zone Depth is a NON-ISSUE: McArthur River Mine
Pike Zone Freeze Technology Means Depth is NOT a Depth is a NON-ISSUE Limitation to Tier 1 Asset Development in the Athabasca Basin McArthur River Mine Freezing: Underground Freeze Pipes ● Underground Freezing is Key ● Freeze ‘curtain/wall’ isolates ore from water ● Sandstone/Basement is Frozen ● Fr
Slide 36: Pike Zone Depth is a NON-ISSUE: BHP Jansen Potash Shafts
Pike Zone Freeze Technology Means Depth is NOT a Depth is a NON-ISSUE Limitation to Tier 1 Asset Development in the Athabasca Basin BHPs Jansen Potash Shafts: ● Completed in November 2022 ● Saskatchewan, Canada ● Freezing to Depths of 800 Metres ● Two shafts completed over 1000 m ea. ● Freezing prev
Slide 37: Strategic Opportunity
Strategic Opportunity TSX.V-CVV Key Lake Mill Needs Tier 1 Feed KNOWN TODAY Cameco/Orano Key Lake Mill Cameco has a Reserve Depletion Problem Remaining Reserves Total 457M lbs U3O8 https://www.cameco.com/invest/overview/reserves-resources/proven-probable New Supply Needed A +Billion Dollar Asset Key
Slide 38: New Exploration Opportunities
New Exploration Opportunities TSX.V-CVV Up to $44M in Exploration PLUS Cash and Shares 2020 to 2025: (NEW staking) +20 projects acquired Cree East • $19M Option Deal Geikie, Marshall, N Millennium • A$15M Option Deal $44M in Constellation Recent Deals • $5M Option Deal Waterbury East • $5M Option De
Slide 39: CanAlaska Pipeline
CanAlaska Pipeline TSX.V-CVV Early Stage Discovery – Forward Value Proposition CanAlaska’s Pike Zone Discovery - Start of a Rapid Valuation Trajectory $47.3B Market Cap West McArthur Cree East $5.6B Moon Lake South Market Cap Waterbury South Key Lake Area Other JV/Options Project Generation 240M pou
Slide 40: 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 ❏ Multiple Trigger Events ❏ Advancing A New Ultra High-Grade Discover
Slide 41: Join Us For The Discovery Journey!
Join Us For The Discovery Journey! Pike Zone: HEAD OFFICE CanAlaska Uranium Ltd. Unit 204, 75-24th Street East Saskatoon, SK S7K 0K3 Drilling an Ultra GET IN TOUCH Tel: 604.688.3211 High-Grade Uranium CORPORATE COMMUNICATIONS Carrie Howes Email: chowes@canalaska.com Discovery Tel: 306.668.6925 TSX.V
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