Generation Uranium Inc. (TSX.V: GEN, OTCQB: GENRF, FRA: W85) announced that Expert Geophysics Ltd. will fly a MobileMT (MMT) survey over the central and western portions of its Yath Project in Nunavut's Kivalliq Region during July 2026. This survey aims to cover a gap in the company's existing MMT coverage and extend exploration on the west side of the claim block, where the VGR-NORM trend presents a deep-seated, clay-altered uranium mineralized structure that remains poorly understood.
The Central Gap Zone is considered critical for understanding the geological trend projecting northwest from the LAC 50 Uranium Deposit, located south of the Yath project on Atha Energy's ground. This zone also encompasses several northeast-trending structures related to known uranium mineralization at BOG, MP-25, Amy's OC, and Lucky Break. According to the company, integrating the new MMT data with historic mapping and sampling will significantly narrow the footprint of known targets and improve understanding of structural orientations beneath overburden. Targets historically defined at the scale of hundreds of metres can be constrained to zones only tens of metres wide.
MMT surveys targeting unconformity-style uranium systems focus on three key elements: graphitic conductor fault zones, hydrothermal alteration halos, and deep structural controls. High-grade unconformity uranium deposits globally are associated with basement fault zones enriched in graphite, which is highly conductive. Uranium-bearing acidic fluids alter surrounding sandstone or host rocks, producing conductivity highs (clay alteration) or resistivity highs (silicification). Understanding the architecture of deep structures helps identify pathways for uranium-bearing fluid migration.
CEO Michael Collins stated: "Generation Uranium is pleased to see the final MMT package being flown through the middle and west side of the Yath Project. We view this as a critical piece of the puzzle that will illuminate how the North-East and North-West structures interact as they converge in the center of the Yath claims, and a better understanding of structures on the VGR clay altered zones. All in all, we are pleased with the way the exploration model and drill targeting is evolving this summer."
The announcement comes amid a strong uranium market in 2026, with spot prices surpassing US$100/lb and long-term contract prices moving above spot. 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, and persistent supply shortfalls. Global nuclear capacity currently consumes approximately 180 million pounds of U3O8 annually, while existing mine production delivers only about 150 Mlb. According to the World Nuclear Association's reference scenario, global nuclear capacity could expand significantly by 2040, pushing annual uranium consumption toward 390 Mlb.
The company also announced the grant of incentive stock options to officers and consultants to purchase up to 500,000 common shares at $0.08 for two years, and a correction to a prior finder's fee payment. Generation Uranium is focused on advancing its flagship Yath Project in Nunavut's Angilak district, where historic work has reported surface samples up to 9.8% U3O8 and 1.0 m at 0.224% U3O8 from 25.5 m in drillhole BOG-8-80.
Michael Collins, P. Geo., President, CEO, and Director of Generation Uranium, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this release. More information on the uranium market outlook can be found in the Shaw and Partners report and the World Nuclear Association report.
