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, located in the Angilak Basin of Nunavut, Canada. The report, prepared in accordance with National Instrument 43-101, consolidates over five decades of exploration data and identifies multiple high-priority targets for uranium discovery.
The Yath Project spans 17,363.60 hectares in the Yathkyed and Angikuni sub-basins of the Thelon Basin, a region that is both prolific and under-explored. 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. ATHA has raised $63 million this year to advance operations at the adjacent Angikuni Project, underscoring the regional potential.
Key highlights from the Report include 13 historic drill holes with anomalous radiation readings. Notably, hole RC11-BOG-001 returned a spot reading of 6,300 counts per second at 17.53 meters, with assays showing 0.37% copper and 0.12% U3O8 between 16.8 and 18.3 meters. Clay alteration identified at the VGR target area is similar to alteration seen in Athabasca unconformity deposits, a promising sign for uranium mineralization. Additionally, 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, providing fresh insights for exploration.
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 announcement comes amid a strengthening uranium market in 2026, characterized by a widening structural supply deficit and accelerating global demand. Spot prices have surpassed US$100 per pound, driven by the expansion of AI-powered data centers and increased nuclear generation capacity in China, India, and the United States. A comprehensive sector report by Shaw and Partners, referenced in the release, forecasts a potential multi-year uranium price spike toward US$200 per pound, citing tightening fuel contracting cycles and persistent supply shortfalls. Global nuclear capacity currently consumes about 180 million pounds of U3O8 annually, while mine production delivers only 150 million pounds, a gap that is expected to widen. The World Nuclear Association projects annual uranium consumption could reach 390 million pounds by 2040.
For Generation Uranium, the filing of the Report positions the company to capitalize on this favorable market environment. The Yath Project includes advanced targets such as the VGR trend, BOG Zone, Fog & IM-6, Embryo, Lucky Break, MP-25, and Boulder Lake, all of which hold potential for further exploration. The company also granted incentive stock options to an officer for 200,000 common shares at $0.075 per share, expiring in 2029.
The historical resource estimate for the Lac 50 deposit, prepared by ValOre Metals Corp. in 2013, is not considered current, as a qualified person has not done sufficient work to classify it as such. However, it provides an indication of the exploration potential in the region. Generation Uranium plans to apply modern geophysics and reprocess legacy data to refine targets for the upcoming spring exploration season.
For more information, visit generationuranium.com. The full report is available on SEDAR+ at www.sedarplus.com.
