Canalaska Urnium Stock Price, News & Analysis

CanAlaska Uranium (OTCQX:CVVUF) announced the termination of its option agreement with Nexus Uranium Corp., effective September 19, 2025. The agreement, originally signed in March 2024, would have allowed Nexus to earn up to 75% interest in the Cree East Project. As a result, CanAlaska retains 100% ownership of the project.

The Cree East Project, located 35 kilometers west of the Key Lake Mine and Mill complex in the southeastern Athabasca Basin, has seen over $20 million in historical exploration, including multiple geophysical surveys and 91 diamond drillholes since 2006. Under Nexus's brief tenure, $3.4 million was invested in exploration, leading to the identification of multiple new priority targets and positive drill results showing evidence of uranium-bearing hydrothermal fluids.

The company plans to continue advancing the project, which is strategically positioned to potentially supply uranium to the Key Lake Mill after McArthur River reserve depletion in approximately 15 years.

CanAlaska Uranium (OTCQX:CVVUF) has reported assay results from its 2025 winter drill program at the Cree East Project in the southeastern Athabasca Basin. The program, the first in over a decade, completed seven diamond drill holes totaling 3,339 metres. The most significant results came from drillhole CRE094, which intersected basement-hosted uranium mineralization with grades of 0.05% U3O8 over 0.3m and 0.07% U3O8 over 0.3m.

The drilling program successfully identified graphitic host rocks with post-Athabasca structural reactivation, hydrothermal alteration, and elevated radioactivity. Notable pathfinder elements were detected, including elevated nickel (up to 1470 ppm), molybdenum (up to 562 ppm), and copper (up to 7540 ppm). The project, located 35 kilometres west-northwest of the Key Lake Mine, is currently being funded by Nexus Uranium Corp under an option earn-in agreement.

CanAlaska Uranium (OTCQX: CVVUF) has commenced its first-ever drill program at the Constellation uranium project in Saskatchewan's Athabasca Basin. The program, fully funded by Bayridge Resources under an option earn-in agreement, will consist of 3-4 drill holes totaling 1,100-1,400 metres.

The project, located 60 kilometers south of the Key Lake Mine, was identified through VTEM surveys and ground prospecting, which revealed significant uranium anomalies in two target areas. Target Area B showed the highest uranium concentration of 488 ppm, while Target Area A recorded up to 52.5 ppm. The property shows favorable geology for basement-hosted uranium deposits, with strong electromagnetic conductors that have never been drill tested.

Under the agreement, Bayridge Resources could invest up to $5 million in exploration expenditures on the project.

CanAlaska Uranium (OTCQX: CVVUF) reported exceptional geochemical assay results from its winter 2025 drill program at the Pike Zone, West McArthur project. The program revealed outstanding uranium grades up to 85.4% U3O8, with key intersections including 8.6 metres at 34.59% U3O8 (including 5.5 metres at 53.90% U3O8) in drillhole WMA079-01 and 14.8 metres at 14.71% U3O8 (including 5.4 metres at 39.67% U3O8) in WMA076-01.

The exploration program significantly expanded the Pike Zone's high-grade footprint, with uranium mineralization now extending approximately 250 metres in strike length and remaining open in all directions. The program included 29 unconformity tests, with 22 containing uranium mineralization, confirming a strong hydrothermal mineralizing system with potential for additional high-grade pods along strike.

CanAlaska Uranium has initiated its summer drill program at the West McArthur Joint Venture project in Saskatchewan's Athabasca Basin, as part of a $12.5 million 2025 exploration program. The company, which holds an 85.97% ownership stake and is partnered with Cameco Corporation, will operate three drills to complete 15-20 unconformity target intersections. The program focuses on expanding the Pike Zone uranium discovery, which has shown significant results including intersections of 8.3 metres at 24.82% eU3O8 and 17.6 metres at 9.10% eU3O8 from winter drilling. The Pike Zone currently has a 250-metre strike length of uranium mineralization that remains open in all directions, with untested areas extending 1,000 metres west and 600 metres east. CanAlaska is sole-funding the program and will increase its ownership through this investment.

CanAlaska Uranium has successfully completed its winter drill program at the Cree East Project in Saskatchewan's Athabasca Basin, marking the first drilling activity in over a decade. The program, consisting of seven diamond drill holes totaling 3,339 metres, focused on Target Area B.

Key findings include the intersection of extensive hydrothermal alteration, graphitic fault zones, and elevated radiometry readings up to 300 cps. Notably, drillhole CRE094 revealed significant hydrothermal alteration with strong bleaching and multiple fault intervals. The program successfully identified uranium deposit indicators across approximately 450 metres of strike length.

The project, located 35 kilometres west-northwest of the Key Lake Mine and Mill complex, is currently 100% owned by CanAlaska and being sole-funded by Nexus Uranium Corp. Five of the seven drill holes reached their target unconformity horizon, while two were lost due to technical issues. Assay results from the winter 2025 exploration program are pending.

CanAlaska Uranium (TSXV: CVV) has completed its winter drill program at the Pike Zone of the West McArthur project, achieving significant expansion of high-grade uranium mineralization. The highlight was drillhole WMA079-01, which intersected 8.3 metres at 24.82% eU3O8, including 5.5 metres at 37.09% eU3O8 at the unconformity.

The program consisted of 29 unconformity tests, with 22 containing uranium mineralization. The Pike Zone's high-grade footprint has been expanded to a 250-metre strike length and remains open. The Company connected two previously interpreted high-grade pods with additional high-grade uranium mineralization.

A summer drill program is scheduled to commence in June 2025 with three drills targeting approximately 15 additional unconformity intersections. The program will focus on step-outs along the C10S corridor to evaluate additional mineralization zones, with untested areas extending 1,000 metres west and 600 metres east of the Pike Zone.

CanAlaska Uranium (CVVUF) has received final assay results from its summer 2024 drill program at the Pike Zone, West McArthur project, confirming significant high-grade uranium discoveries. Key findings include:

- WMA082-12: 17.0 metres at 10.81% U3O8, including 10.5 metres at 17.30% U3O8
- WMA094-02: 6.5 metres at 10.05% U3O8, including 2.0 metres at 31.33% U3O8
- WMA094-01: 9.0 metres at 5.54% U3O8, including 3.6 metres at 12.60% U3O8

The summer 2024 program comprised 12 unconformity tests at Pike Zone, with 11 containing uranium mineralization. The mineralization extends along a 200-metre strike length that remains open in all directions, with a high-grade core spanning over 100 metres. The West McArthur project is a Joint Venture with Cameco , where CanAlaska holds an 85.97% ownership and is the operator. Three drills are currently active in the 2025 winter program.

CanAlaska Uranium (TSXV: CVV) (OTCQX: CVVUF) has announced its participation in the upcoming Prospectors & Developers Association of Canada's (PDAC) Convention. The company will be exhibiting at Booth #2140 at the Metro Toronto Convention Centre from March 2-5, 2025.