Generation Uranium Announces Filing Of Comprehensive 43-101 Report On Yath Project
(TheNewswire)
Vancouver, British Columbia –TheNewswire - April 23, 2026 -Generation UraniumInc. (TSXV: GEN, OTCQB: GENRF, FRA: W85)(the “Company” or “Generation”)announces that the Company has filed on SEDAR+ an independenttechnical report (the "Report") prepared in accordance withNational Instrument 43-101 – Standards of Disclosure for MineralProjects ("NI 43-101") on the Yath Project, Angilak Basin,Nunavut, Canada.
The Yath Project is located in the prolific andunder-explored Yathkyed and Angikuni sub-basins of the Thelon Basin inNunavut, Canada. Situated along trend from the historical 43 millionlbs Lac 50 uranium deposit* being advanced by ATHA Energy Corp whohave raised $63m this year with a focus on operations at the AngikuniProject which surrounds the Yath Project.
At just over 17,363.60 ha in area, the Yath Project notonly 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, andBoulder Lake. (See Figure 1 below, KnownMineralization).
Key highlights of the report include:
13 historic drill holes with numerous anomalousradiation reading including RC11-BOG-001 returned the best spotreading of 6300 CPS (counts per second) at 17.53 metres with assaysmeasuring 0.37% Cu and 0.12% U8 between 16.8 and 18.3 metres
Clay alteration is identified in drill cuttings and inoutcrop at the VGR target area which is similar to alteration see inAthabasca unconformity deposits
Historical boulder and out crop sampling with grades of9% U
New first derivative magnetic mapping that indicatesstructure parallel demagnetized zones in relation to historicallydefined targets (see Figure 1 below, and Figure 2, First VerticalDerivate below)
“The Yath project benefits from more than fivedecades of exploration, creating a strong foundation that points toexceptional discovery potential,” said Michael Collins. “Bybringing this information together in a clear, investor?readyformat, Generation is showcasing the true scale of opportunity atYath. As we move into the spring exploration season, our team isapplying modern geophysics, reprocessing legacy datasets, and refiningtargets to aggressively advance the project toward uraniumdiscovery”.
Figure 1, Zones of KnownMineralization
Figure 2, First Vertical Derivate,MMT Survey 2024
The Company also announces that, in accordance with theCompany’s Stock Option Plan, it has granted to an Officer of theCompany incentive stock options to purchase 200,000 common shares ofthe Company at a price of $0.075 for a term of three years expiringApril 23, 2029.
*Angilak Property Historical Resource Reported byValOre Metals Corp. in a Technical Report entitled “Technical Reportand Resource Update for The Angilak Property, Kivalliq Region,Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P. Geol. ofAPEX Geosciences, Robert Sim, B.Sc., P. Geo. of SIM Geological Inc.and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., datedMarch 1, 2013. Inferred mineral resources of 2,831,000 tonnes at anaverage 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 mineralresource estimate was calculated in accordance with NI 43-101 and CIMstandards at the time of publication and predates the current CIMDefinition Standards for Mineral Resources and Mineral Reserves (May2014) and CIM Estimation of Mineral Resources & Mineral ReservesBest Practices Guidelines.
A Qualified Person has not done sufficient work toclassify the historical estimate as a current mineral resource, andthe Parties are not treating the historical estimate as a currentmineral resource. The historical information provides an indication ofthe exploration potential of the properties but may not berepresentative of expected results. Information on adjacent projectsmay not be indicative of mineralization on the Yath Uranium Project.Michael Collins, President, CEO and Director, aqualified person as defined by National Instrument 43-101 (Standardsof Disclosure for Mineral Projects), has reviewed the scientificinformation that forms the basis for this news release and hasapproved the disclosure herein.
For additional information on the Yath Uranium Projectand Generation Uranium, please visit our website:generationuranium.com.
For Further Information
Michael Collins, P.Geo
+604-764-7094
admin@generationuranium.com
About Generation Uranium
Generation Uranium is a Canadian exploration companyfocused on advancing high?quality uranium assets in premier jurisdictions. Its flagshipYath Project is strategically located in Nunavut’s Angilakdistrict—one of Canada’s most active and rapidly emerging uraniumcamps. With a growing portfolio of high?priority targets and exposure toproven mineralized trends, Generation is well positioned to contributeto the future global supply of clean nuclear energy.
Forward-LookingStatements
This news release contains certainforward-looking statements, which relate to future events or futureperformance and reflect management’s current expectations andassumptions. Such forward-looking statements reflect management’scurrent beliefs and are based on assumptions made by and informationcurrently available to the Company. Readers are cautioned that theseforward-looking statements are neither promises nor guarantees, andare subject to risks and uncertainties that may cause future resultsto differ materially from those expected including, but not limitedto, market conditions, availability of financing, actual results ofthe Company’s exploration and other activities, environmental risks,future metal prices, operating risks, accidents, labor issues, delaysin obtaining governmental approvals and permits, and other risks inthe mining industry. All the forward-looking statements made in thisnews release are qualified by these cautionary statements and those inour continuous disclosure filings available on SEDAR+ atwww.sedarplus.com. These forward-looking statements are made as of thedate hereof and the Company does not assume any obligation to updateor revise them to reflect new events or circumstances save as requiredby applicable law.
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release. The TSXVenture Exchange has neither approved nor disapproved of the contentsof this news release.
Uranium Outlook 2026
The uranium market in 2026 continues to strengthen,supported by a widening structural supply deficit and acceleratingglobal demand. Spot prices surpassed US$100/lb early in the year asmine production struggles to keep pace with reactor requirements.Demand growth is being driven by the rapid expansion of AI?powereddata centers, alongside significant increases in nuclear generationcapacity in China, India, and the United States. Long?term contractprices have now moved above spot, reflecting a healthy and sustainedtrend as utilities secure supply in an increasingly competitiveenvironment.
A comprehensive sector report1 released byShaw and Partners in February 2026 forecasts the potential for amulti?year uranium price spike toward US$200/lb. The reporthighlights tightening fuel contracting cycles, accelerating nucleardemand, and persistent supply shortfalls as the foundation for apowerful re?rating across the uranium sector.
The report also underscores a growing disconnectbetween uranium supply and long?term reactor demand. Global nuclearcapacity currently consumes approximately 180 million pounds (Mlb) ofU?O? annually, while existing mineproduction delivers only about 150 Mlb. According to the World NuclearAssociation’s reference scenario2, global nuclearcapacity could expand significantly by 2040, pushing annual uraniumconsumption toward 390 Mlb.
Shaw and Partners’ modelling furtherindicates:
New mine supply requirements this decade could exceed350 Mlb, once depletion of existing operations is included.
Structural supply deficits could surpass 200 Mlb peryear in the coming decades unless new large?scale uranium projectsare brought into production.
Overall, the uranium market is expected to remaintight, with low inventories and rising demand driving utilities towardincreasingly aggressive long?term contracting strategies. Thisenvironment continues to strengthen the outlook forexploration?stage companies positioned in proven and emerginguranium districts.
References
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