Generation Uranium Inc. (TSXV: GEN, OTCQB: GENRF, FRA: W85) announced the filing of an independent technical report on its Yath Project, located in the Angilak Basin, Nunavut, Canada, prepared in accordance with National Instrument 43-101. The report, filed on SEDAR+, provides a detailed assessment of the project's exploration potential and outlines key targets for future work.
The Yath Project spans over 17,363.60 hectares in the Yathkyed and Angikuni sub-basins of the Thelon Basin, a region known for uranium mineralization. It is situated along trend from the historical Lac 50 uranium deposit, which contains an inferred resource of 43.3 million pounds of U3O8, as reported by ATHA Energy Corp. The project hosts multiple advanced targets, including 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. Notably, drill hole RC11-BOG-001 returned a spot reading of 6,300 counts per second at 17.53 metres, with assays measuring 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 resembles alteration seen in Athabasca unconformity deposits, suggesting potential for similar high-grade uranium mineralization. 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.
Michael Collins, President and CEO of Generation Uranium, stated, "The Yath project benefits from more than five decades of exploration, creating a strong foundation that points to exceptional discovery potential. By bringing this information together in a clear, investor-ready format, Generation is showcasing the true scale of opportunity at Yath."
The company also announced the grant of incentive stock options to an officer to purchase 200,000 common shares at $0.075 per share for a term of three years, expiring April 23, 2029.
The filing comes amid a strengthening uranium market in 2026, with spot prices surpassing US$100/lb and long-term contract prices moving above spot. A report by Shaw and Partners forecasts a potential multi-year uranium price spike toward US$200/lb, driven by a widening structural supply deficit and accelerating demand from AI-powered data centers and nuclear generation expansion in China, India, and the United States. Global nuclear capacity currently consumes about 180 million pounds of U3O8 annually, while mine production delivers only about 150 million pounds, creating a supply gap that exploration-stage companies like Generation Uranium aim to address.
For more information, visit the company's website at generationuranium.com.
This news release contains forward-looking statements subject to risks and uncertainties, including market conditions, availability of financing, and exploration results. Readers are cautioned not to place undue reliance on forward-looking statements. The TSX Venture Exchange has neither approved nor disapproved the contents of this release.
