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CanAlaska Uranium Ltd. – MD&A October 31, 2019 Page 1 of 22 www.canalaska.com CanAlaska Uranium Ltd. CVV - TSX CVVUF - OTCBB DH7N – Frankfurt Management Discussion and Analysis For the Second Quarter and Six Months Ended October 31, 2019 Dated December 16, 2019 For further information on the Company reference should be made to the Company’s public filings which are available on SEDAR. Information is also available at the Company’s website www.canalaska.com . In addition, reference should be made to the risk factors section of the most recently filed Annual Information Form (“AIF”) or the Company’s audited consolidated financial statements for the year ended April 30, 2019. The following information is prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the IASB and denominated in Canadian dollars, unless otherwise noted. This MD&A should be read in conjunction with the Company’s unaudited condensed interim consolidated financial statements for the six months ended October 31, 2019. Table of Contents: 1. OVERVIEW OF THE COMPANY AND STRATEGY 2 2. MILESTONES AND PROJECT UPDATES 3 3. FINANCIAL POSITION 13 4. EXPENDITURES REVIEW 17 5. CASHFLOW REVIEW 18 6. OTHER MATTERS 18 7. QUARTERLY FINANCIAL INFORMATION 22 This MD&A contains forward-looking information. Refer to Section 6 “Forward-Looking Statements” and “Risks Factors” for a discussion of the risks, uncertainties and assumptions relating to such information.

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  • Page 1/5SAFETY DATA SHEETAccording to Safe Work Australia

    Printing date 08.04.2016 Revision: 08.04.2016

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    1 . IDENTIFICATION: PRODUCT IDENTIFIER AND CHEMICAL IDENTITYProduct Name: LOVELAND PRODUCTS FOUNDATION LMOther Means of Identification: MixtureRecommended Use of the Chemical and Restriction on Use: Microbial soil amendmentDetails of Manufacturer or Importer:Landmark Operations LimitedSuite 3, Level 1, Building B11 Talavera RoadMacquarie Park NSW 2113

    Phone Number: 02 9889 5400Emergency telephone number: National Poison Information Centre: 13 11 26

    2 . HAZARDS IDENTIFICATIONHazardous Nature:Not classified as Hazardous according to the Globally Harmonised System of Classification and Labelling ofChemicals (GHS) and Safe Work Australia criteria.Not classified as Dangerous Goods according to the Australian Code for the Transport of Dangerous Goodsby Road and Rail. (7th edition)The product is not classified according to the Globally Harmonised System (GHS).

    Signal Word VoidHazard Statements Void

    3 . COMPOSITION AND INFORMATION ON INGREDIENTSChemical Characterization: MixturesDescription: Water-based culture mediumHazardous Components: VoidAdditional information: This product includes microorganisms in quantities as listed on product label.

    4 . FIRST AID MEASURESInhalation: If inhaled, remove to fresh air. Seek medical attention if breathing problems develop.Skin Contact:In case of skin contact, immediately remove contaminated clothing and wash affected areas with water andsoap. Seek medical attention if symptoms occur.

    Eye Contact:In case of eye contact, rinse cautiously with water for several minutes. Remove contact lenses, if present andeasy to do. Continue rinsing. Seek medical attention.

    Ingestion:If swallowed, do not induce vomiting. Wash mouth with water and give some water to drink. Do not giveanything by mouth to an unconscious person. Seek immediate medical attention.

    5 . FIRE FIGHTING MEASURESSuitable Extinguishing Media: Use fire extinguishing methods suitable to surrounding conditions.Specific Hazards Arising from the Chemical: There is no risk of an explosion. This product does not burn.

    (Contd. on page 2)

  • Page 2/5SAFETY DATA SHEETAccording to Safe Work Australia

    Printing date 08.04.2016 Revision: 08.04.2016

    Product Name: LOVELAND PRODUCTS FOUNDATION LM

    (Contd. of page 1)

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    Special Protective Equipment and Precautions for Fire Fighters:When fighting a major fire wear self-contained breathing apparatus and protective equipment.

    6 . ACCIDENTAL RELEASE MEASURESPersonal Precautions, Protective Equipment and Emergency Procedures:Wear approved respiratory protection, chemical resistant gloves, safety glassses, protective clothing andsafety boots. Evacuate all non-essential personnel from affected area. Do not breathe vapours. Ensureadequate ventilation.

    Environmental Precautions:In the event of a major spill, prevent spillage from entering drains or water courses.

    Methods and Materials for Containment and Cleaning Up:Stop leak if safe to do so and absorb spill with sand, earth, vermiculite or some other absorbent material.Collect the spilled material and place into a suitable container for disposal.

    7 . HANDLING AND STORAGEPrecautions for Safe Handling:Use of safe work practices are recommended to avoid eye or skin contact and inhalation of vapours.Food, beverages and tobacco products should not be stored or consumed where this material is in use.Always wash hands before smoking, eating, drinking or using the toilet. Wash contaminated clothing andother protective equipment before storage or re-use. Provide eyewash fountains and safety showers in closeproximity to points of potential exposure.

    Conditions for Safe Storage:Store in a cool, dry and well ventilated area. Keep in original container tightly closed when not in use. Protectfrom excessive heat.

    8 . EXPOSURE CONTROLS AND PERSONAL PROTECTIONExposure Standards:The product does not contain any relevant quantities of materials with critical values that have to be monitoredat the workplace.

    Engineering Controls: Ensure adequate ventilation of the working area.Respiratory Protection:Respiratory protection is not required under normal use conditions.Use approved vapour respirator under conditions where exposure to the substance is apparent (e.g.generation of high concentrations of mist or vapour, inadequate ventilation, development of respiratory tractirritation) and engineering controls are not feasible. See Australian Standards AS/NZS 1715 and 1716 formore information.

    Skin Protection:PVC, PVA, nitrile, neoprene, rubber or vinyl gloves. See Australian/New Zealand Standard AS/NZS 2161 formore information.When selecting gloves for use against certain chemicals, the degradation resistance, permeation rate andpermeation breakthrough time should be considered.Occupational protective clothing (depending on conditions in which it has to be used, in particular as regardsthe period for which it is worn, which shall be determined on the basis of the seriousness of the risk, thefrequency of exposure to the risk, the characteristics of the workstation of each worker and the performance ofthe protective clothing). See Australian/New Zealand Standard AS/NZS 4501 for more information.

    (Contd. on page 3)

  • Page 3/5SAFETY DATA SHEETAccording to Safe Work Australia

    Printing date 08.04.2016 Revision: 08.04.2016

    Product Name: LOVELAND PRODUCTS FOUNDATION LM

    (Contd. of page 2)

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    Eye and Face Protection:Eye and face protectors for protection against splashing materials or liquids. See Australian/New ZealandStandard AS/NZS 1337 for more information.

    9 . PHYSICAL AND CHEMICAL PROPERTIESAppearance:

    Form: LiquidColour: Light yellow to brownOdour: Slight earthy odour

    Odour Threshold: No information availablepH-Value: 8 Melting point/Melting range:

  • Page 4/5SAFETY DATA SHEETAccording to Safe Work Australia

    Printing date 08.04.2016 Revision: 08.04.2016

    Product Name: LOVELAND PRODUCTS FOUNDATION LM

    (Contd. of page 3)

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    Carcinogenicity: This product does NOT contain any IARC listed chemicals.Reproductive Toxicity: Based on classification principles, the classification criteria are not met.Specific Target Organ Toxicity (STOT) - Single Exposure:Based on classification principles, the classification criteria are not met.

    Specific Target Organ Toxicity (STOT) - Repeated Exposure:Based on classification principles, the classification criteria are not met.

    Aspiration Hazard: Based on classification principles, the classification criteria are not met.Chronic Health Effects: No information availableExisting Conditions Aggravated by Exposure: No information available

    12 . ECOLOGICAL INFORMATIONEcotoxicity: Expected to not be an environmental hazard.Aquatic toxicity: No information availablePersistence and Degradability: This product is biodegradable.Bioaccumulative Potential: It will not accumulate in the soil or water or cause long term problems.Mobility in Soil: No information availableOther adverse effects: No information available

    13 . DISPOSAL CONSIDERATIONSDisposal Methods and Containers: Dispose according to applicable local and state government regulations.Special Precautions for Landfill or Incineration:Please consult your state Land Waste Management Authority for more information.

    14 . TRANSPORT INFORMATIONUN Number Not regulatedProper Shipping Name Not regulatedDangerous Goods Class Not regulatedPacking Group: Not regulated

    15 . REGULATORY INFORMATIONAustralian Inventory of Chemical Substances:7732-18-5 Water

    Standard for the Uniform Scheduling of Drugs and Poisons (SUSMP) - Poison Schedule:Not Scheduled.

    16 . OTHER INFORMATIONDate of Preparation or Last Revision: 08.04.2016Prepared by: MSDS.COM.AU Pty Ltd www.msds.com.auAbbreviations and acronyms:GHS: Globally Harmonised System of Classification and Labelling of ChemicalsCAS: Chemical Abstracts Service (division of the American Chemical Society)IARC: International Agency for Research on CancerSTEL: Short Term Exposure Limit

    (Contd. on page 5)

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    Printing date 08.04.2016 Revision: 08.04.2016

    Product Name: LOVELAND PRODUCTS FOUNDATION LM

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    TWA: Time Weighted AverageNES: National Exposure Standard (Safe Work Australia - Workplace Exposure Standards For Airborne Contaminants)

    DisclaimerThis SDS is prepared in accord with the Safe Work Australia document “Code of Practice for the Preparationof Safety Data Sheets for Hazardous Chemicals - December 2011”The information contained in this safety data sheet is provided in good faith and is believed to be accurate atthe date of issuance. Landmark Operations Limited makes no representation of the accuracy orcomprehensiveness of the information and to the full extent allowed by law excludes all liability for any loss ordamage related to the supply or use of the information in this material safety data sheet. MSDS.COM.AU PtyLtd is not in a position to warrant the accuracy of the data herein. The user is cautioned to make their owndeterminations as to the suitability of the information provided to the particular circumstances in which theproduct is used.