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 in the Angilak Basin, Nunavut, Canada, prepared in accordance with National Instrument 43-101. The report consolidates over five decades of exploration data, highlighting the project's potential for uranium discovery in a region experiencing renewed interest.
The Yath Project spans 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 (inferred) according to a 2013 report by ValOre Metals Corp. That deposit is being advanced by ATHA Energy Corp, which has raised $63 million this year. Generation’s project hosts multiple 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, such as RC11-BOG-001, which returned a spot reading of 6300 counts per second at 17.53 metres, with assays of 0.37% copper and 0.12% U3O8 between 16.8 and 18.3 metres. 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.
“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. “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 filing of the report comes at a time when the uranium market is strengthening. According to the release, spot prices surpassed US$100 per pound in early 2026, driven by a structural supply deficit and accelerating demand from AI-powered data centers and nuclear expansion in China, India, and the United States. A report by Shaw and Partners in February 2026 forecasts a potential multi-year uranium price spike toward US$200 per pound, citing tightening fuel contracting cycles and persistent supply shortfalls. The World Nuclear Association’s reference scenario projects global nuclear capacity could expand significantly by 2040, pushing annual uranium consumption toward 390 million pounds from the current 180 million pounds.
The Company also granted incentive stock options to an officer to purchase 200,000 common shares at $0.075 for three years expiring April 23, 2029. The technical report is available on SEDAR+ at www.sedarplus.com. For more information, visit the company’s website at generationuranium.com.
