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Vancouver, British Columbia TheNewswire - April 23, 2026 - Generation Uranium Inc. (TSXV: GEN,OTC:GENRF, OTCQB: GENRF, FRA: W85) (the "Company" or "Generation") announces that the Company has filed on SEDAR+ an independent technical report (the "Report") prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") on the Yath Project, Angilak Basin, Nunavut, Canada.
The Yath Project is located in the prolific and under-explored Yathkyed and Angikuni sub-basins of the Thelon Basin in Nunavut, Canada. Situated along trend from the historical 43 million lbs Lac 50 uranium deposit* being advanced by ATHA Energy Corp who have raised $63m this year with a focus on operations at the Angikuni Project which surrounds the Yath Project.
At just over 17,363.60 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 & IM-6, Embryo, Lucky Break, MP-25, and Boulder Lake. (See Figure 1 below, Known Mineralization).
Key highlights of the report include:
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13 historic drill holes with numerous anomalous radiation reading including RC11-BOG-001 returned the best spot reading of 6300 CPS (counts per second) at 17.53 metres with assays measuring 0.37% Cu and 0.12% U8 between 16.8 and 18.3 metresÂ
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Clay alteration is identified in drill cuttings and in outcrop at the VGR target area which is similar to alteration see in Athabasca unconformity depositsÂ
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Historical boulder and out crop sampling with grades of 9% UÂ
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New first derivative magnetic mapping that indicates structure parallel demagnetized zones in relation to historically defined targets (see Figure 1 below, and Figure 2, First Vertical Derivate below)Â
"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 datasets, and refining targets to aggressively advance the project toward uranium discovery".
  
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Figure 1, Zones of Known Mineralization
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Figure 2, First Vertical Derivate, MMT Survey 2024
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 $0.075 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, M.Sc., P. Geol. of APEX Geosciences, Robert Sim, B.Sc., P. Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., 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% U3O8 and 0.17% 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 NI 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 & 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. Michael Collins, President, CEO 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.
For additional information on the Yath Uranium Project and Generation Uranium, please visit our website: generationuranium.com.
ÂFor Further Information
Michael Collins, P.Geo
+604-764-7094
admin@generationuranium.com
ÂAbout 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.
ÂForward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
ÂNeither 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:
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New mine supply requirements this decade could exceed 350 Mlb, once depletion of existing operations is included.Â
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Structural supply deficits could surpass 200 Mlb per year in the coming decades unless new large‑scale uranium projects are brought into production.Â
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.
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