Mr. Anthony Zelen reports

GENERATION URANIUM ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FOR AGGREGATE PROCEEDS OF UP TO CAD$1,000,000

Generation Uranium Inc. intends to complete a non-brokered private placement of up to four million units of the company at a price of 25 cents per unit for aggregate gross proceeds of up to $1-million.

Each unit will consist of one common share of the company and one common share purchase warrant, with each warrant exercisable into one common share at an exercise price of 45 cents per share at any time up to 24 months following the closing date of the private placement. The company also maintains a warrant acceleration option allowing Generation to accelerate the expiry date of the warrants if the daily trading price of the common shares on the TSX Venture Exchange is greater than 70 cents per common share for the preceding 10 consecutive trading days. The activation of the acceleration clause will be announced by press release and the 30-day period will commence seven days after the last premium trading day. All other terms of the warrants remain unchanged. All securities issued under the offering and including warrants will be subject to a four-month holding period.

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 general working capital.

The private placement remains subject to receipt of all required approvals, including the approval of the TSX Venture Exchange, as well as execution of formal documentation.

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.

We seek Safe Harbor.