Mr. Anthony Zelen reports

GENERATION URANIUM EXTENDS HOLD PERIOD ON FINANCING TO FOSTER LONG-TERM VALUE CREATION FOR SHAREHOLDERS

Due to strong demand for the recent private placement, made public on SEDAR+ on Feb. 6, 2024, Generation Uranium Inc. will extend the resale period of newly issued shares. The shares will be restricted from transfers to 50 per cent on each of the following days: six months and eight months after closing. The extension of the holding period represents the purchaser's commitment to prioritizing long-term value creation for shareholders.

Commenting on the action, chief executive officer Anthony Zelen stated: "We have now extended the hold periods to double industry standard due to demand. This is a win for the company as it shows we are getting long-term shareholders involved at such a pivotal time. The company expects to close the private placement soon and provide updates regarding our high-grade uranium assets in Nunavut, one of the most sought-after uranium regions in the world today."

To further focus on its new high-grade uranium asset, the company will be dropping the option it has on the Arlington property, allowing it to streamline its focus, expenditure and time.

In unrelated news, the company further announces that Gary Schellenberg has resigned from the board of directors to focus on other endeavours. The company would like to thank him for his hard work and dedication to Generation Uranium and wish him all the best in the future.

About Generation Uranium Inc.

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 project, located in the territory of Nunavut.

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