Generation Uranium Advances Exploration at the Yath Uranium Project in Nunavut

Vancouver, British Columbia — July 2, 2026 — Generation Uranium Inc. announces progress on its Yath Project in Nunavut, emphasizing the company's efforts to advance high-quality uranium assets. The company has initiated its inaugural field program focused on identifying drill targets following comprehensive geophysical surveys and historical data analysis.

Generation Uranium Inc., listed on the TSX Venture Exchange under the ticker GEN (TSX.V), OTCQB under GENRF, and on the Frankfurt exchange as W85, has begun a new phase of exploration at its flagship Yath Project located in the Kivalliq Region of Nunavut. The project, covering over 17 square kilometers within the Angikuni Basin, aims to leverage recent geophysical surveys and historical prospecting data to locate viable uranium drill targets and advance toward potential resource definition.

The Yath Project is situated in Canada’s Arctic, surrounded by Atha Energy’s Angilak Project to the north and south, where three drills are active following discoveries in 2025. The company's initial program will involve ground truthing of 17 targets, integrating old and new data, including an Expert Geophysics MMT survey conducted recently. The goal is to refine these targets, prioritize them, and develop a definitive drill plan upon receiving the necessary permits.

Generation's CEO Michael Collins commented on the project’s potential, stating, "I joined Generation eight months ago because I believe Yath possesses exceptional discovery potential. With the completion of our latest geophysical survey, we are now in a position to identify key drill targets, bringing us closer to potential resource delineation." Collins highlighted the significance of the ongoing exploration, especially noting the project’s proximity to the Atha Energy’s Angilak Deposit, which reported five discoveries in 2025.

Key exploration targets within the Yath Project include the VGR Trend, BOG–Embryo Creek Trend, Lucky Break Area, and the SC-13 Zone. The VGR Trend extends about five kilometers along a major fault with elevated radioactivity and clay-silica alteration, with grab samples returning grades up to 3.75% U₃O₈. Four RC drill holes tested this zone, with one recording elevated downhole radioactivity between 5,000 and 15,000 cps over 65 meters, and a rock sample returning 1.65% U₃O₈.

The BOG–Embryo Creek Trend hosts a three-kilometer radioactive corridor, with historical prospecting in 1981 uncovering high-grade uranium mineralization. This includes samples with up to 9.81% U₃O₈ and notable copper, molybdenum, and silver values. The Lucky Break Area features surface rocks containing pitchblende within quartz-carbonate breccia veins, indicative of possible polymetallic mineralization. Meanwhile, the SC-13 Zone comprises two trenches with significant uranium values, with trenches A and B averaging 0.82% and 1.79 lb/ton U₃O₈ respectively, and sampling peaks reaching 0.52% U₃O₈.

A qualified person, Michael Collins, a Professional Geoscientist, has reviewed the scientific and technical information in the release, ensuring compliance with standards outlined in NI 43-101.

Generation Uranium’s outlook for 2026 remains positive, driven by a strengthening uranium market supported by a supply deficit and increasing demand from nuclear reactors and AI-powered data centers globally. Spot prices surpassed US$100 per pound early in the year, with forecasts indicating potential increases toward US$200 per pound amid tightening supply and rising demand from China, India, and the United States. Utility companies are securing long-term contracts ahead of future growth in nuclear capacity, which could see annual uranium demand rise to nearly 390 million pounds by 2040, according to estimates from the World Nuclear Association.

The company remains focused on exploration in a market poised for significant price appreciation and is actively positioning itself within Canada’s premier uranium district.

Source: Generation Uranium Inc.