02:00:36 EDT Fri 24 Apr 2026
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Generation Uranium Inc
Symbol GEN
Shares Issued 56,547,892
Close 2026-04-23 C$ 0.07
Market Cap C$ 3,958,352
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Generation Uranium files Yath technical report

2026-04-23 19:03 ET - News Release

Mr. Michael Collins reports

GENERATION URANIUM ANNOUNCES FILING OF COMPREHENSIVE 43-101 REPORT ON YATH PROJECT

Generation Uranium Inc. has filed on SEDAR+ an independent technical report prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, on the Yath project, Angilak basin, Nunavut, Canada.

The Yath project is located in the prolific and underexplored Yathkyed and Angikuni subbasins of the Thelon basin in Nunavut, Canada. Situated along trend from the historical 43-million-pound (lb) Lac 50 uranium deposit* being advanced by Atha Energy Corp., which has raised $63-million this year with a focus on operations at the Angikuni project, which surrounds the Yath project.

At just over 17,363.60 hectares (ha) in area, the Yath project not only hosts the on-trend potential of the Lac 50 historical deposit, but also advanced targets such as the VGR trend, BOG zone, Fog and IM-6, Embryo, Lucky Break, MP-25, and Boulder Lake.

Key highlights of the report include:

  • 13 historical drill holes with numerous anomalous radiation reading, including RC11-BOG-001, which returned the best spot reading of 6,300 counts per second (cps) at 17.53 metres, with assays measuring 0.37 per cent copper (Cu) and 0.12 per cent U8 between 16.8 and 18.3 metres;
  • Clay alteration is identified in drill cuttings and in outcrop at the VGR target area, which is similar to alteration see in Athabasca unconformity deposits;
  • Historical boulder and outcrop sampling with grades of 9 per cent U;
  • New first derivative magnetic mapping that indicates structure parallel demagnetized zones in relation to historically defined targets.

"The Yath project benefits from more than five decades of exploration, creating a strong foundation that points to exceptional discovery potential," said Michael Collins. "By bringing this information together in a clear, investor-ready format, Generation is showcasing the true scale of opportunity at Yath. As we move into the spring exploration season, our team is applying modern geophysics, reprocessing legacy data sets and refining targets to aggressively advance the project toward uranium discovery."

The company also announces that, in accordance with the company's stock option plan, it has granted to an officer of the company incentive stock options to purchase 200,000 common shares of the company at a price of 7.5 cents for a term of three years expiring April 23, 2029.

* Angilak property historical resource reported by ValOre Metals Corp. in a technical report, entitled "Technical Report and Resource Update for The Angilak Property, Kivalliq Region, Nunavut, Canada," prepared by Michael Dufresne, MSc, PGeol, of APEX Geosciences, Robert Sim, BSc, PGeo, of SIM Geological Inc., and Bruce Davis, PhD, FAusIMM, of BD Resource Consulting Inc., dated March 1, 2013: inferred mineral resources of 2,831,000 tonnes at an average grade of 0.69 per cent U3O8 and 0.17 per cent molybdenum containing 43.3 million pounds of U3O8 and 10.4 million pounds of molybdenum. The historical mineral resource estimate was calculated in accordance with National Instrument 43-101 and CIM standards at the time of publication, and predates the current CIM definition standards for mineral resources and mineral reserves (May, 2014), and CIM estimation of mineral resources and mineral reserves best practices guidelines.

A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource, and the Parties are not treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results. Information on adjacent projects may not be indicative of mineralization on the Yath Uranium Project.

Mr. 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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