File: '\\swfile\EmailIn\20240308 140817 Attachment 2024.03.08 - Generation Uranium Announces Arrangement of Private Placement For Aggregate Proceeds Of CAD$400,000.docx'

1403-8948-6346, v. 3

Generation Uranium

Arranges Non-Brokered Private Placement for Aggregate Proceeds of CAD$400,000

Vancouver, British Columbia, Canada, March 8, 2024 - Generation Uranium Inc. (the "Company" or "Generation"), (TSXV: GEN) is pleased to announce that it has received an aggregate of CAD$400,000 in subscriptions for its previously-announced non-brokered private placement (the "Offering") of common shares at CAD$0.10 per share. Completion of the Offering is subject to TSX Venture Exchange approval and execution of formal documentation by the Company. A finders' fee of 8% Generation common shares and 8% Generation common share purchase warrants will be paid upon closing. Each finder warrant will entitle the holder to purchase one common share at an exercise price of CAD$0.10 for 24 months following closing.

The Company intends to use the net proceeds to help define new drill targets on the Yath Project, a high-grade uranium property situated in the Thelon Basin in Nunavut, Canada, and for general working capital.

All securities issued to investors under the Offering will be subject to resale restrictions expiring as follows: (i) six (6) months from closing (as to 50% of the securities) and (ii) eight (8) months from closing (as to 50% of the securities).

FOR FURTHER INFORMATION CONTACT

Anthony Zelen

President and Chief Executive Officer

Anthonyzelen88@gmail.com

778-388-5258

About Generation Uranium

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% interest in and to the Arlington Property, located within the Arrow Boundary District of south-central British Columbia, and holds a 100% interest in the Yath Uranium Project, located in the Territory of Nunavut.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements include statements respecting the Offering and the conditions to closing thereof. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.