Generation Uranium Inc. (TSXV: GEN, OTCQB: GENRF, FRA: W85) announced on April 23, 2026, that it has filed an independent technical report on SEDAR+ prepared in accordance with National Instrument 43-101 for its Yath Project in the Angilak Basin, Nunavut, Canada. The Yath Project spans over 17,363.60 hectares in the Yathkyed and Angikuni sub-basins of the Thelon Basin, an area that remains under-explored despite over five decades of exploration history.
The project 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 ValOre Metals Corp. in a 2013 technical report. This deposit is currently being advanced by ATHA Energy Corp, which has raised $63 million this year to focus on operations at the adjacent Angikuni Project. The Yath Project hosts several 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 6,300 counts per second at 17.53 metres, with assays measuring 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.
Michael Collins, President, CEO and Director 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 filing of the NI 43-101 report is significant as it consolidates historical data into a standardized format, enabling investors to better assess the project's potential. This comes at a time when the uranium market is experiencing a structural supply deficit. According to a sector report by Shaw and Partners released in February 2026, the uranium market could see a multi-year price spike toward US$200 per pound, driven by tightening fuel contracting cycles, accelerating nuclear demand from AI-powered data centers and global nuclear expansion, and persistent supply shortfalls. Global nuclear capacity currently consumes approximately 180 million pounds of U3O8 annually, while mine production delivers only about 150 million pounds, creating a gap that could widen as demand is projected to reach 390 million pounds by 2040.
Generation Uranium also announced that it has granted incentive stock options to an officer of the company to purchase 200,000 common shares at a price of $0.075 for a term of three years expiring April 23, 2029. The company is positioning itself to contribute to the future global supply of clean nuclear energy by advancing high-quality uranium assets in premier jurisdictions.
