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CanAlaska Uranium announces $510K private placement

News Release

CanAlaska Announces up to $510,000 Private Placement Financing

Vancouver, Canada, January 30, 2018 — CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N)) (the “Company”) is pleased to announce that, subject to regulatory approval, it intends to raise up to $510,000 by way of a non-brokered private placement of up to 1,500,000 units (“Units”) at a price of $0.34/Unit. Each Unit will consist of one common share and ½ share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share at $0.51/share for a two year period; provided that after the four month hold period expires, if for 10 consecutive days the closing price of the Company’s shares on the TSX-V exceeds $0.90, then the Company may anytime thereafter accelerate the expiry date of the Warrants to the date that is 30 days following the date on which the Company issues notice to all the Warrant holders of the new expiry date. The Company will also issue a press release on the same date as it issues notice confirming the new expiry date of the Warrants.

The Company may pay a finder’s fee consisting of cash and warrants to eligible finders as permitted under applicable securities laws and TSX-V policies. All securities issued in connection with this offering will be subject to a Canadian hold period expiring four months and one day from the date of issuance of such securities. Net proceeds will be used for acquisitions, and uranium and other mineral exploration in Saskatchewan, Manitoba and Alberta, as well as for general corporate purposes.

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 region — the “Saudi Arabia of Uranium.” 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.

On behalf of the Board of Directors
“Peter Dasler”
Peter Dasler, P. Geo., President & CEO

Peter Dasler, President and CEO.
Tel: +1.604.688.3211 x318
Email: info@canalaska.com

John Gomez
Corporate Development
Tel: +1.604.484.7118
Email: jgomez@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.

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