Generation Uranium Inc. (TSXV: GEN, OTCQB: GENRF, FRA: W85) announced on April 23, 2026, that it has filed an independent technical report on SEDAR+ for its Yath Project in the Angilak Basin, Nunavut, Canada. The report, prepared in accordance with National Instrument 43-101, consolidates over 50 years of exploration data and outlines key targets for the upcoming spring exploration season.
The Yath Project spans 17,363.60 hectares in the Yathkyed and Angikuni sub-basins of the Thelon Basin, a region described as prolific and under-explored. It is situated along trend from the historical 43 million lbs Lac 50 uranium deposit being advanced by ATHA Energy Corp, which has raised $63 million this year for operations at the adjacent Angikuni Project. 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. Drill hole RC11-BOG-001 returned a spot reading of 6,300 counts per second at 17.53 metres, with assays of 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 is similar to alteration seen in Athabasca unconformity deposits. Historical boulder and outcrop sampling yielded 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. 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.'
The company also announced the grant of 200,000 incentive stock options to an officer at a price of $0.075 for a term of three years, expiring April 23, 2029.
The uranium market in 2026 continues to strengthen, with spot prices surpassing US$100/lb early in the year. A comprehensive sector report released by Shaw and Partners in February 2026 forecasts a potential multi-year uranium price spike toward US$200/lb, driven by tightening fuel contracting cycles, accelerating nuclear demand from AI-powered data centers, and persistent supply shortfalls. Global nuclear capacity currently consumes approximately 180 million pounds of U3O8 annually, while mine production delivers only about 150 million pounds. According to the World Nuclear Association's reference scenario, global nuclear capacity could expand significantly by 2040, pushing annual uranium consumption toward 390 million pounds.
Generation Uranium is positioned to benefit from this environment as it advances the Yath Project. The full technical report is available on SEDAR+ at www.sedarplus.com. Additional information on the company and its projects can be found on its website at generationuranium.com.
Michael Collins, P.Geo, a qualified person under NI 43-101, has reviewed and approved the scientific and technical information in this release.
