Generation Uranium Inc. (TSXV: GEN, OTCQB: GENRF, FRA: W85) provided an update on exploration planning for the 2026 field season at its Yath Project in Nunavut's Angilak district. As the Company awaits approval of its drill permit, efforts are focused on refining historic targets by integrating the 2024 Mobile Magnetotellurics (MMT) survey results and evaluating artificial intelligence as a target ranking and optimization tool.
The 2024-2025 MMT survey, conducted by Expert Geophysics, covered approximately 810 line kilometres over 120 km2 of the property. The survey targeted graphitic conductor fault zones, hydrothermal alteration halos, and deep structural controls—key elements for unconformity-style uranium deposits. Integration of conductive and resistive MMT corridors with historic mapping and sampling has significantly narrowed the footprint of known targets and improved understanding of structural orientations beneath overburden. Targets previously defined at hundreds of metres scale can now be constrained to zones only tens of metres wide. The MMT data refined the interpreted orientation of key uranium targets including BOG, VGR, Embryo, FOX, and Lucky Break, revealing that conductive and resistive trends are oblique to earlier interpretations.
The Company continues to integrate the MMT dataset with historic results, including surface samples grading up to 9.8% U3O8 at the Embryo target and 1.0 m at 0.224% U3O8 from 25.5 m in drillhole BOG-8-80. This work advances the definition and prioritization of the most prospective drill targets for discovery.
Recognizing the target-rich nature of the Yath Project, Generation has engaged several AI-driven geological service providers and is evaluating which group is best suited to support advanced target analysis. CEO Michael Collins stated: “The MMT data represents a major leap forward for buried uranium targeting. This exploration concept has already been validated by Atha Energy’s five new discoveries in 2025 on their Angilak Project to the south. Generation has a real opportunity to shorten the discovery cycle at Yath while maximizing exploration dollars and drilling effectiveness.” (Reference: Atha Energy press release, May 5, 2026; mineralization on adjacent property is not necessarily indicative of mineralization on Generation’s property.)
The uranium market in 2026 continues to strengthen, with spot prices surpassing US$100/lb and demand driven by AI-powered data centers and nuclear capacity expansion in China, India, and the United States. A sector report by Shaw and Partners forecasts a multi-year uranium price spike toward US$200/lb, highlighting tightening fuel contracting cycles and persistent supply shortfalls (Reference: Shaw and Partners report, February 2026). This environment strengthens the outlook for exploration-stage companies in proven uranium districts.
Michael Collins, P.Geo., President, CEO and Director of Generation Uranium, and a Qualified Person under NI 43-101, has reviewed and approved the scientific and technical information in this release.
