Generation Uranium Inc. (TSXV: GEN, OTCQB: GENRF, FRA: W85) announced the filing of an independent technical report prepared in accordance with National Instrument 43-101 on its Yath Project, located in the Angilak Basin, Nunavut, Canada. The report consolidates over five decades of exploration data and highlights the project's potential for uranium discovery.
The Yath Project covers 17,363.60 hectares in the Yathkyed and Angikuni sub-basins of the Thelon Basin, situated along trend from the historical Lac 50 uranium deposit, which contains 43 million pounds of U3O8. This deposit is being advanced by ATHA Energy Corp, which has raised $63 million this year for operations at the adjacent Angikuni Project. The Yath Project hosts 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 6300 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 in drill cuttings and outcrop at the VGR target area is similar to alteration seen in Athabasca unconformity deposits. 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.
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 granted incentive stock options to an officer to purchase 200,000 common shares at $0.075 per share, expiring April 23, 2029.
The uranium market in 2026 continues to strengthen, with spot prices surpassing US$100 per pound. Demand growth is driven by AI-powered data centers and increased nuclear capacity in China, India, and the United States. A report by Shaw and Partners forecasts potential for a multi-year uranium price spike toward US$200 per pound, citing tightening contracting cycles and supply shortfalls. The World Nuclear Association's reference scenario projects global nuclear capacity could push annual uranium consumption toward 390 million pounds by 2040.
The filing of the 43-101 report marks a significant step for Generation Uranium as it seeks to advance the Yath Project in a favorable market environment. The company is well-positioned to contribute to future global uranium supply.
