Generation Uranium Inc. (TSXV: GEN, OTCQB: GENRF, FRA: W85) announced the filing of an independent technical report on its Yath Project in the Angilak Basin, Nunavut, Canada, prepared in accordance with National Instrument 43-101. The report consolidates over five decades of exploration data, highlighting the project's proximity to the historical Lac 50 uranium deposit and multiple advanced targets.
The Yath Project spans 17,363.60 hectares in the Yathkyed and Angikuni sub-basins of the Thelon Basin, a region that is under-explored but highly prospective for uranium. The project is situated along trend from the historical 43 million lbs Lac 50 uranium deposit (inferred resource of 2,831,000 tonnes at 0.69% U3O8 and 0.17% molybdenum, as reported by ValOre Metals Corp. in 2013), which is being advanced by ATHA Energy Corp. Key targets include the VGR trend, BOG Zone, Fog & IM-6, Embryo, Lucky Break, MP-25, and Boulder Lake.
Key highlights from the report include 13 historic drill holes with anomalous radiation readings. For instance, hole RC11-BOG-001 returned a spot reading of 6,300 counts per second at 17.53 metres, with assays of 0.37% copper and 0.12% U3O8 between 16.8 and 18.3 metres. Clay alteration identified in drill cuttings and outcrop at the VGR target area is similar to alteration seen in Athabasca unconformity deposits. Historical boulder and outcrop sampling returned grades of up to 9% U3O8. New first derivative magnetic mapping indicates structure parallel demagnetized zones related 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, President and CEO. “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 datasets, and refining targets to aggressively advance the project toward uranium discovery.”
The filing comes amid a strengthening uranium market. According to a comprehensive sector report by Shaw and Partners, released in February 2026, the uranium market is forecast to experience a multi-year price spike toward US$200/lb, driven by tightening fuel contracting cycles, accelerating nuclear demand from AI-powered data centers, and persistent supply shortfalls. Global nuclear capacity consumes approximately 180 million pounds of U3O8 annually, while mine production delivers only about 150 Mlb, creating a structural deficit. The World Nuclear Association's reference scenario projects global nuclear capacity could expand significantly by 2040, pushing annual consumption toward 390 Mlb.
The Company also granted incentive stock options to an Officer to purchase 200,000 common shares at $0.075 for a term of three years expiring April 23, 2029. Michael Collins, P.Geo., a qualified person under NI 43-101, has reviewed and approved the scientific information in this release.
