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 of Nunavut, Canada, prepared in accordance with National Instrument 43-101. The report, filed on SEDAR+, consolidates over five decades of exploration data and outlines significant discovery potential along trend from the historical Lac 50 uranium deposit, which contains 43 million pounds of U3O8 and is being advanced by ATHA Energy Corp.
The Yath Project spans 17,363.60 hectares within the Yathkyed and Angikuni sub-basins of the Thelon Basin. Key highlights from the report include 13 historic drill holes with anomalous radiation readings, such as RC11-BOG-001, which returned a spot reading of 6,300 counts per second at 17.53 metres with assays of 0.37% copper and 0.12% U3O8. Additionally, clay alteration identified at the VGR target area is similar to alteration seen in Athabasca unconformity deposits, and 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.
“The Yath project benefits from more than five decades of exploration, creating a strong foundation that points to exceptional discovery potential,” said Michael Collins, President and CEO of Generation Uranium. “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.”
In addition to the report, the company granted incentive stock options to an officer for 200,000 common shares at $0.075 per share, expiring April 23, 2029. The Yath Project is situated in a prolific and under-explored region, with advanced targets including the VGR trend, BOG Zone, Fog & IM-6, Embryo, Lucky Break, MP-25, and Boulder Lake.
The filing comes amid a strengthening uranium market in 2026, with spot prices surpassing US$100 per pound and long-term contract prices moving above spot. A comprehensive sector report by Shaw and Partners, referenced in the press release, forecasts a potential multi-year uranium price spike toward US$200 per pound, 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 approximately 180 million pounds of U3O8 annually, while mine production delivers only about 150 million pounds, highlighting the need for new discoveries.
The historical mineral resource estimate for the Angilak Property, reported by ValOre Metals Corp., includes inferred 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. However, a qualified person has not done sufficient work to classify this as a current mineral resource. Generation Uranium is not treating it as such.
Michael Collins, the qualified person under NI 43-101, has reviewed and approved the scientific information in this news release. The company is focused on advancing its high-quality uranium assets in premier jurisdictions, with the Yath Project poised to benefit from the current uranium market dynamics.
