CanAlaska Uranium Ltd Reports Geophysical Findings from West McArthur Project

CanAlaska Uranium Ltd., the TSX Venture Exchange‑listed mining service provider, announced today the completion of a geophysical survey on its West McArthur exploration project in Saskatchewan. The company disclosed that the survey, conducted by a third‑party specialist, delivered a set of preliminary subsurface data that the management team interprets as “promising indications of uranium mineralization” in the target area.

Key points from the release

  • Survey scope – The program comprised a 3‑D seismic‑refraction survey, gravity and magnetic measurements, and a limited trench‑sampling campaign.
  • Preliminary interpretation – The results identify several “high‑resolution anomaly corridors” that correlate with historic surface mineralization trends in the West McArthur area.
  • Next steps – CanAlaska plans to conduct a focused drilling program in the identified anomaly corridors within the next 12 months. The company expects the drilling to confirm the extent of uranium mineralization and to establish a preliminary grade estimate.
  • Implications for the project – A positive outcome could position West McArthur as a flagship asset for the company’s portfolio, which already includes projects for copper, zinc, and diamond exploration.

Context within the company’s strategy

CanAlaska Uranium Ltd. has positioned itself as a global service provider for uranium, copper, zinc, and diamond exploration. The West McArthur project is one of the company’s core assets, situated in the Athabasca Basin—a region renowned for its high‑grade uranium deposits. By advancing the geophysical program, CanAlaska is actively moving the project from a conceptual stage toward a drill‑ready phase.

The company’s recent market performance reflects investor interest in uranium exploration. As of 23 November 2025, the stock closed at CAD 0.66, below its 52‑week low of CAD 0.51 but still trading above its 52‑week high of CAD 1.25. The negative price‑earnings ratio of –7.6 indicates that the company is still in a development phase, with revenue expectations tied to future discovery and licensing milestones.

Broader industry backdrop

Uranium exploration has gained renewed attention amid global discussions about low‑carbon energy sources. In November 2025, other Canadian entities such as Green Canada Corporation announced a reverse takeover and acquisition of the Marshall Uranium Project, underscoring a broader market appetite for uranium assets in Canada’s Athabasca Basin. While CanAlaska’s West McArthur project remains a separate undertaking, the company’s progress aligns with the sector’s momentum.

Conclusion

CanAlaska Uranium Ltd.’s announcement of geophysical results for the West McArthur project marks a tangible step toward unlocking potential uranium resources in the Athabasca Basin. By translating survey data into a concrete drilling plan, the company signals its intent to bring the project into a more advanced development stage. Investors and analysts will now watch for the forthcoming drilling results, which will be pivotal in determining the project’s economic viability and the company’s future trajectory within the Canadian uranium landscape.