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Vancouver, British Columbia July 21, 2026 - TheNewswire Generation Uranium Inc. (TSXV:GEN,OTC:GENRF, OTCQB:GENRF, FRA:W85) (the "Company" or "Generation") is pleased to see Atha Energy's success in exploration on the Angilak project located just south of the Company's Yath Project as reported in their press release July 8, 2026. Atha is running 3 drill rigs on the Angiak Project with a reported budget of 20,000m of drilling in 2026.
Atha's LAC50 NW relates to Generation's Yath Project in two ways:
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The discovery demonstrates the continued mineralized nature of the LAC50 trend with a 4km west jump out to the NW for a new uranium discovery. The associated geophysical conductor can be seen to cross into the Yath Project a further 3km to the North West.
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The concurrent gravity high continues ~1km north to the Yath Project border where historical uranium mineralization has been observed and is currently being investigated by the Generation field geologists and prospectors.
(see map below or online at: https://generationuranium.com/wp-content/uploads/2026/07/yath.png)
While geophysical conductors and the margins of gravity highs do not explain all of the uranium exploration targets on the Yath project, they do focus targeting in about 50% of them in the central portion of the claims.
CEO Michael Collins comments, "Atha's success at LAC50NW was expected by our geology team at Generation as we have been integrating regional uranium trends and occurrences within our own exploration model. While our 2026 exploration plan was already targeting the LAC 50 trend as it crosses onto Generation ground and the northern extension of the Gravity high, (which we also see as a greenstone belt margin), Atha's successes validates theses targets and moves them up the priority list for our geologist who are currently in the field picking drill targets."
Michael also noted, "Every discovery drill hole that Atha reports refines our exploration model and will improve our success rate as we move to get drills turning on the Yath Uranium Project."
Generation's Field program is currently underway on the Yath Project where are geologists are integrating historic exploration results derived from assessment reports, integrating ExpertGeophysics MMT conductors and identifying related structures in the field to constrain historic targets as well as defining new targets.
Click Image To View Full Size*The registered gravity and conductor map is drawn from Atha Energy's July 9th press release. The company notes that exploration success at an adjacent project is not necessarily an indicator of the potential of the Yath Project.
Qualified Person
Michael Collins, P. Geo., President, CEO and Director of Generation Uranium, and a Qualified Person as defined by National Instrument 43‑101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the scientific and technical information contained in this news release.
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 located in Nunavut's Angilak district, one of Canada's most active and rapidly emerging uranium camps. Historic work has reported with historic results surface samples up to 9.8% U₃O₈ and 1.0 m at 0.224% U₃O₈ from 25.5 m in drillhole BOG-8-80.
With a growing portfolio of high‑priority targets in a well‑understood uranium district, Generation Uranium is well positioned to make discoveries that contribute meaningfully to the future global supply of clean nuclear energy.
For Further Information
Michael Collins, P.Geo., CEO
+1(778) 819-7881
admin@generationuranium.com
Roger Leschuk, CIM, FCSI - VP Corporate Development
rleschuk@generationuranium.com
+1(604) 720-4544
Cautionary Statement Regarding Historic Results
The historic exploration results disclosed in this news release, including surface samples and drill intersection results from the Yath Project, are derived from assessment reports detailing historic work conducted by various exploration companies active on the project, primarily between 1980 and 2013. Mr. Collins, as qualified person, has not verified the historic data disclosed in this news release and such results should not be relied on.
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 report2 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 scenario3, 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.
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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.
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
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