CanAlaska Announces Results of Annual General Meeting of Shareholders and Adoption of New Stock Option Plan

Vancouver, British Columbia--(Newsfile Corp. - September 23, 2016) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N), ("CanAlaska" or the "Company") is pleased to report on the voting results of the Annual General Meeting of its shareholders held on September 22, 2016.

Incumbent directors, Peter Dasler, Jean Luc Roy, Ambassador Thomas Graham, Jr., Victor Fern, Karl Schimann and Kathleen Townsend were re-elected as directors for the ensuing year. In addition, Deloitte LLP, was re-appointed as the Company's auditors for the ensuing year.

The shareholders also approved the adoption of a new 10% rolling stock option plan ("Plan"), which is subject to acceptance by the TSXV. Pursuant to the terms of the new Plan, the aggregate number of option shares that may be issued under the Plan, at any time, is equal to 10% of the issued shares of the Company. Existing options granted under the Company's former fixed plan will be rolled into and governed by the terms of the new Plan. At this time, there are 1,642,363 shares reserved for issuance under the new Plan.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 500,000 hectares (1.2 million acres), one of the largest land positions in Canada's Athabasca Basin region - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies Cameco, Denison, KORES, KEPCO, and the De Beers Group of Companies. CanAlaska is a project generator and is positioned for discovery success in the world's richest uranium district. For further information visit www.canalaska.com.

On behalf of the Board of Directors

"Peter Dasler"

Peter Dasler, M.Sc., P.Geo.
President & CEO
CanAlaska Uranium Ltd.

Contacts:

Peter Dasler
President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

John Gomez
Corporate Development
Tel: +1.604.484.7118
Email: jgomez@canalaska.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.