Mr. Anthony Zelen reports

GENERATION GOLD ANNOUNCES CLOSING OF YATH PROPERTY ACQUISITION

Further to Generation Gold Corp.'s Nov. 8, 2023, news release, the company has completed its acquisition of a 100-per-cent interest in and to five mineral claims (Yath uranium property) totalling approximately 8,438 hectares located in Nunavut. The closing was carried out pursuant to an amendment to the original agreement providing for the acquisition (as amended), the sole purpose of which was to add three individuals as parties to the agreement. For more information respecting the acquisition and the Yath uranium property, please see the prior release.

Pursuant to the amended agreement, Generation Gold has acquired the Yath uranium property from the vendors, in exchange for: (i) its commitment to issue to the vendors an aggregate of 2.5 million common shares of the company and pay the vendors an aggregate of $45,000 in cash; and (ii) the company's grant to the vendors of a 1-per-cent net smelter return royalty from the commercial production of minerals on the property:

• 500,000 shares -- issued on closing;
• $20,000 in cash -- paid on closing;
• One million shares -- to be issued before the one-year anniversary of closing;
• One million shares -- to be issued before the two-year anniversary of closing;
• $25,000 in cash -- to be paid before the two-year anniversary of closing.

The closing shares are subject to a resale restriction of 12 months. The first-anniversary shares and the second-anniversary shares will be subject to a resale restriction of four months and one day.

About Generation Gold Corp.

The company is a natural resource company engaged in the exploration and development of mineral properties. The company holds an option to acquire a 60-per-cent interest in and to the Arlington property, located within the Arrow Boundary district of south-central British Columbia, and holds a 100-per-cent interest in the Yath uranium property, located in Nunavut.

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