Mr. Peter Dasler reports

CANALASKA: DRILLING TO COMMENCE AT PATTERSON WEST, CURRENT FINANCING POSTPONED

CanAlaska Uranium Ltd. has been informed by Makena Resources Inc. that drilling crews are on site, and drilling is about to commence at the Patterson West project. Drilling will test an intense 1.5-kilometre-by-0.5-kilometre gravity anomaly situated along a major geological domain boundary.

Peter Dasler, CanAlaska's president, stated: "Patterson West has a large, well-defined target in basement rocks, a similar geological environment that hosts the nearby Triple R and Arrow uranium discoveries. The southwest Athabasca basin has the potential to host several major uranium deposits along a series of emerging exploration belts."

Patterson West is located adjacent to the PLS claims of Fission Uranium Corp. and 10 kilometres northwest of its Triple R deposit. The Arrow discovery of NexGen Energy Ltd. is approximately 15 kilometres east of the main gravity anomaly on the property. Like Triple R and Arrow, the exploration target at Patterson West is just off the edge of the Athabasca basin.

Previous fieldwork by Makena identified multiple geophysical anomalies. A large gravity anomaly measuring 1.5 kilometres long by 0.5 kilometre wide was discovered; this correlates with magnetic lineaments as well as with multiple VTEM (versatile time-domain electromagnetic) conductive anomalies (see April 13, 2015, news release).

CanAlaska owns a 100-per-cent interest in three properties in the southwest region of the Athabasca basin. Makena is currently earning a 50-per-cent interest in the Patterson West property by carrying out staged work programs totalling $1.4-million, making cash payments of $100,000, as well as making issuances of 3.05 million shares and one million warrants of Makena.

CanAlaska also announces that the current financing initiative announced Oct. 28, 2015, has been postponed, pending further corporate developments and market support.

Dr. Karl Schimann, PhD, PGeo, is the qualified technical person responsible for this news release.

We seek Safe Harbor.