22:36:01 EDT Thu 16 Apr 2026
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Generation Uranium Inc
Symbol GEN
Shares Issued 56,547,892
Close 2026-04-16 C$ 0.065
Market Cap C$ 3,675,613
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Generation Uranium awaits final permit for Yath

2026-04-16 18:32 ET - News Release

Mr. Michael Collins reports

GENERATION URANIUM DEFINES MULTIPLE HIGH-IMPACT DRILL TARGETS AT YATH PROJECT, LEVERAGING PROVEN DISCOVERY MODEL IN ONE OF CANADA'S HOTTEST URANIUM DISTRICTS

Generation Uranium Inc. has significantly advanced target definition and exploration planning at its 100-per-cent-owned Yath uranium project in Nunavut, positioning the company for a highly anticipated and catalyst-rich 2026 drill program.

Following an extensive winter technical review, Generation has significantly upgraded its exploration model through the integration of modern geophysics, historic data sets and structural analysis -- placing the company in a strong position to pursue district-scale uranium discovery in 2026, pending final permit approval.

Key highlights:

  • Multiple high-impact drill targets defined across structurally controlled uranium corridors;
  • Direct application of a proven discovery model from adjacent Angilak project success;
  • Unsurveyed high-potential zone identified -- MobileMT survey expansion planned;
  • Advanced inversion modelling under way integrating multiple historic geophysical data sets;
  • Targeting structural convergence zones -- a key control in major uranium discoveries;
  • Positioned for Generation for its first ever drill campaign at Yath.

Leveraging proven discovery models in a high-activity uranium district

A cornerstone of Generation's strategy is the integration of the Expert Geophysics MobileMT survey, flown in 2024, with emerging discovery models applied by neighbouring operator Atha Energy at the adjacent Angilak project. Atha's recent high-grade uranium discoveries and aggressive $63-million exploration program underscore the exceptional prospectivity of the district.

Generation's technical team has systematically applied these validated exploration methodologies to the Yath project, significantly enhancing confidence in the company's target pipeline.

Expanding coverage to unlock untested high-potential zones

During its review, the company identified a key gap in the 2024 MMT survey caused by adverse weather conditions. Generation is currently in advanced discussions with Expert Geophysics to complete this survey coverage in 2026, unlocking a previously untested and highly prospective portion of the property.

In parallel, the company is advancing sophisticated inversion modelling using historic data sets, including:

  • AeroTEM (2008) TDEM;
  • Fugro DIGHEM (2011) FDEM;
  • Ground very low frequency surveys.

This integrated approach is expected to significantly refine and enhance drill targeting across the project.

Multiple high-impact drill targets identified

Generation has identified several compelling drill target areas across the Yath project, including:

  • VGR trend -- priority target with planned seismic survey;
  • BOG zone -- located along a northeastern mineralized trend;
  • Fog IM-6 targets -- defined along east-west structural corridors;
  • Embryo, Lucky Break, MP-25 and Boulder Lake -- located at the convergence of key structural trends, representing high-priority zones for uranium deposition.

The intersection of these structural trends is a critical control observed in major uranium systems and represents a strong focus for discovery-driven drilling.

2026: a transformational year ahead

With a fully integrated targeting model, expanding geophysical coverage and a growing inventory of high-quality targets, Generation is rapidly advancing toward its first ever drill program at Yath.

The coming field season is expected to include:

  • Targeted seismic surveys;
  • Structural reinterpretation;
  • Completion of MMT coverage;
  • Drill testing of priority zones.

Chief executive officer Michael Collins noted: "We are entering 2026 with a significantly strengthened technical understanding of the Yath project and a pipeline of highly compelling drill targets. By integrating modern geophysics with proven discovery models from one of the most active uranium districts in Canada, we believe we are well positioned to make meaningful discoveries.

"Exploration success comes from refining the details, and the work completed to date gives us a high degree of confidence as we move toward our first drill program."

Strong district context supports upside potential

Historic exploration has already identified uranium mineralization within the broader district, including the LAC 50 and RIB deposits located south of Yath. Recent work by neighbouring operators has further validated the significance of northeast-trending structures in controlling uranium mineralization.

The company cautions that mineralization on adjacent properties is not necessarily indicative of mineralization on the Yath project.

Michael Collins, president, chief executive officer and director, a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed the scientific information that forms the basis for this news release and has approved the disclosure herein.

About Generation Uranium Inc.

Generation Uranium is a Canadian exploration company focused on advancing high-quality uranium assets in premier jurisdictions. Its flagship Yath project is strategically located in Nunavut's Angilak district -- one of Canada's most active and rapidly emerging uranium camps.

With a growing portfolio of high-priority targets and exposure to proven mineralized trends, Generation is well positioned to contribute to the future global supply of clean nuclear energy.

We seek Safe Harbor.

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