Northwestern Saskatchewan Project

CHRONOLOGY OF EVENTS

February 18,2016 CanAlaska (“CVV”) announced staking (17,400 ha) magnetic features identified by analysis of government airborne data;

March 3, 2016 Fjordland (“FEX”) initial staking of 43,708 ha surrounding CVV claim groups;

May 15, 2016 CVV executes $20.4 million option with DeBeers Canada;

May 19, 2016 FEX second round of staking adding further 41,101 ha for total mineral tenure of 84,809 ha;

May 24, 2016 FEX options two claim groups from CVV totally 2,544 ha;

June 20, 2016 FEX appoints Mark Kolebaba to Advisory Board;

June 27, 2016 CVV announces DeBeers completes ground sampling indicates high resolution airborne geophysical surveys;

August 18, 2016 DeBeers commences drill program – 85 targets identified;

September 9, 2016 DeBeers suspends drill program after drilling 7 targets without identifying kimberlite;

December 12, 2016 DeBeers drops option;

January 16, 2017 CVV receives preliminary analysis of DeBeer’s drill results concludes additional geophysical modelling and analysis is required;

March 2017 CVV receives geophysical and drill data from DeBeers and begins a detailed geophysical review of targets which exhibit pipe like features. Discussion with third parties to ascertain interest in exploring priority targets is ongoing;

April 26, 2017 FEX terminates option on two CVV claim groups (2,544 ha). Continues to hold mineral title on 84,809 ha’s surrounding CVV claims.

August, 2017 Excerpt from CanAlaska's most recent Letter to the the Shareholders


Excerpt from CanAlaska's most recent "Letter to the shareholders" published in August , 2017

The following is an excerpt from CanAlaska's recent letter to the shareholders.

"In early 2016, we also embarked on a $20.4 million venture with De Beers with the aim to investigate large kimberlite-like magnetic features in the Western Athabasca Basin. In late December 2016, we regained 100% control of this project, after De Beers first drill holes identified magnetic material in the overburden as being the cause of many of the high response magnetic anomalies. Eighty-five clusters of surface magnetic targets were detailed on their extensive low-level airborne mapping surveys. Their drilling did not investigate the deeper modeled targets, as this would have required a winter drill program in areas of lakes and swamps, inaccessible during the summer period. These deeper targets model as small to moderate size kimberlites and remain for CanAlaska to test.

The most fascinating result from De Beers' drilling was the thick sequences (10-20 metres) of magnetic material intercepted in the overburden at five of the seven drill sites. This magnetic material is not magnetic sand, as might be expected, but instead the magnetism appears to be caused by micron size magnetic particles impregnating the top of glacial deposits. Additionally, there are no other recent detrital minerals along with the magnetic "mud". The scientific enigma is the high iron content of the mud (up to 89%) and the formation of magnetite under atmospheric conditions within the past 10,000 years, rather than the more common iron oxides of hematite and limonite. The question remains, where did all of the iron come from? Was the magnetite formed from bacterial action in an anaerobic environment? Why do these magnetic targets only show up in this area? I encourage those with more knowledge on this subject to review the images and data on our website and contact Karl or myself with their explanations. There is more to be unraveled here".


Note: Richard Atkinson, P.Eng is the QP who has reviewed the data presented.

Maps & Figures