Mr. Peter Dasler reports

CANALASKA ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING

Canalaska Uranium Ltd. has now closed the financings it previously announced on May 28, 2018. The company has issued 531,588 units for gross proceeds of $180,740 and 853,276 flow-through units for gross flow-through proceeds of $332,778. In conjunction with these financings, the company paid finders' fees to eligible finders in the aggregate amount of $20,292.28 cash and 52,955 finder warrants. Each finder warrant is exercisable for one common share at a price of 51 cents per 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 90 cents, then the company may, any time thereafter, accelerate the expiry date of the warrants to the date that is 10 days following the date on which the company issues notice to all the warrantholders 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 proposes to use net proceeds received from these financings to advance the company's copper and nickel projects in Manitoba, to carry out additional work on projects within the Athabasca basin, and for general working capital purposes.

All securities issued pursuant to these financings are subject to a hold period expiring four months plus a day after the date of their issuance.

About Canalaska Uranium Ltd.

Canalaska Uranium holds interests in approximately 102,870 hectares (254,000 acres) in Canada's Athabasca basin region. Canalaska is currently working with Cameco and Denison at two of the company's properties in the eastern Athabasca basin. The company also holds properties prospective for nickel, copper, gold and diamonds.

We seek Safe Harbor.