Generation Uranium Announces $800,000 Non-Brokered Private Placement

(TheNewswire)

Vancouver, British Columbia May 15, 2026 TheNewswire - Generation Uranium Inc. (TSXV: GEN,OTC:GENRF, OTCQB: GENRF, FRA: W85) (the "Company" or "Generation") announces a non-brokered private placement of up to $800,000 through the issuance of up to 11,428,571 units (the "Units") at a price of $0.07 per Unit.

Each Unit will be comprised of one common share and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant is exercisable to purchase one common share at a price of $0.12 per share for a period of two years from the date of the close of the financing.

The Company intends to pay finders fees in accordance with the policies of the TSX Venture Exchange. The private placement is subject to approval by the TSX Venture Exchange and all securities are subject to a four-month hold period.  

Proceeds raised from the issuance of the Units will be used by Generation for exploration on its Canadian uranium and critical mineral properties, general working capital, marketing and Project development.  

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.  Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.  "United States" and "U.S. person" have the respective meanings assigned in Regulation S under the U.S Securities Act.

Further to the Company's news release of May 12, 2026, the TSX Venture Exchange has requested further details in relation to engagement of Plutus Invest & Consulting GmbH ("Plutus"). The marketing agreement (the "Marketing Agreement") is for a term of 12 months commencing May 12, 2026 and ending May 11, 2027. Plutus is a Bremen, Germany-based firm specializing in European investor relations, marketing services, and consulting, notably engaged by Canadian mining companies for European market outreach. Marco Massina is Managing Director of Plutus. Plutus has a business address at Buchtstrasse 13, Bremen 28195, Germany, and can be contacted via email (contact@plutuinves.de) or by phone: (+49 42117540174). Registered at Amtsgericht Bremen | Registration No. HRB 39550 HB | Managing Director Marco Messina
Steuernummer | TAX-ID: 60 126 20118 Finanzamt Bremen, Germany, Umsatzsteuer-ID | VAT: DE366956957.

The Media Services provided by Plutus will be in consulting with the Company's management in building corporate awareness through Plutus's network in Europe. Mr. Messina is independent of Generation and the only relationship is the marketing agreement currently under review. To our knowledge, Mr. Messina does not hold any securities of Generation directly or indirectly, nor does he intend to purchase any securities of the Company. His interests in the Company are to provide investment services. In accordance with the terms of the Marketing Agreement, the Company will pay €100,000 to Plutus this month. Any payment exceeding €100,000, up to a maximum of €250,000, will be paid if the Company requests to extend the initial campaign. The funds to pay for these marketing services will come from general working capital.

About Generation Uranium

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.

For Further Information

Michael Collins, P.Geo

+1(778) 819-7881

admin@generationuranium.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.

Uranium Outlook 2026

The uranium market in 2026 continues to strengthen, supported by a widening structural supply deficit and accelerating global demand. Spot prices surpassed US$100/lb early in the year as mine production struggles to keep pace with reactor requirements. Demand growth is being driven by the rapid expansion of AI‑powered data centers, alongside significant increases in nuclear generation capacity in China, India, and the United States. Long‑term contract prices have now moved above spot, reflecting a healthy and sustained trend as utilities secure supply in an increasingly competitive environment.

A comprehensive sector report1 released by Shaw and Partners in February 2026 forecasts the potential for a multi‑year uranium price spike toward US$200/lb. The report highlights tightening fuel contracting cycles, accelerating nuclear demand, and persistent supply shortfalls as the foundation for a powerful re‑rating across the uranium sector.

The report also underscores a growing disconnect between uranium supply and long‑term reactor demand. Global nuclear capacity currently consumes approximately 180 million pounds (Mlb) of U₃O₈ annually, while existing mine production delivers only about 150 Mlb. According to the World Nuclear Association's reference scenario2, global nuclear capacity could expand significantly by 2040, pushing annual uranium consumption toward 390 Mlb.

Shaw and Partners' modelling further indicates:

• New mine supply requirements this decade could exceed 350 Mlb, once depletion of existing operations is included. 

• Structural supply deficits could surpass 200 Mlb per year in the coming decades unless new large‑scale uranium projects are brought into production. 

Overall, the uranium market is expected to remain tight, with low inventories and rising demand driving utilities toward increasingly aggressive long‑term contracting strategies. This environment continues to strengthen the outlook for exploration‑stage companies positioned in proven and emerging uranium districts.

References

1 https://widget.medianet.com.au/uranium-super-cycle-emerging-as-shaw-and-partners-lifts-price-forecast-to-us200lb/1044683?WebsiteId=104

2 https://world-nuclear.org/our-association/publications/global-trends-reports/world-nuclear-fuel-report-2025#:~:text=The%20World%20Nuclear%20Association's%20biennial%20report%20on,including%20targets%20to%20achieve%20net%2Dzero%20carbon%20emissions

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