Generation Uranium Inc. (TSX.V: GEN, OTCQB: GENRF, FRA: W85) announced that Expert Geophysics Ltd. will conduct a MobileMT (MMT) survey over the central and western portions of the Yath Project in July 2026. This final survey aims to fill data gaps in existing MMT coverage, particularly in the Central Gap Zone and the VGR-NORM trend on the west side of the claim block.
The Central Gap Zone is considered critical for understanding geological trends projecting northwest from the LAC 50 Uranium Deposit, located on Atha Energy's adjacent property. This zone also encompasses several northeast-trending structures associated with known uranium mineralization at BOG, MP-25, Amy's OC and Lucky Break. On the west side, the VGR-NORM trend presents an extensive, deep-seated, clay-altered and uranium-mineralized structure that remains poorly understood. The company emphasizes that mineralization on adjacent properties is not necessarily indicative of mineralization on its own property.
MMT surveys are particularly effective for unconformity-style uranium systems, targeting three key elements: graphitic conductor fault zones, hydrothermal alteration halos, and deep structural controls. Graphite-enriched basement fault zones are highly conductive, while uranium-bearing acidic fluids alter host rocks, producing conductivity highs (clay alteration) or resistivity highs (silicification). Understanding deep structural architecture helps identify pathways for uranium-bearing fluid migration. Integration of conductive and resistive MMT corridors with historic mapping and sampling has significantly narrowed target footprints, constraining zones from hundreds of metres to tens of metres wide.
CEO Michael Collins stated: "Generation Uranium is pleased to see the final MMT package being flown through the middle and west side of the Yath Project. We view this as a critical piece of the puzzle that will illuminate how the North-East and North-West structures interact as they converge in the center of the Yath claims, and a better understanding of structures on the VGR clay altered zones."
The company also announced the grant of incentive stock options to officers and consultants to purchase up to 500,000 common shares at $0.08 for two years expiring June 30, 2028. Additionally, a finder fee correction was issued: an extra $1,500 and 21,429 finder warrants at $0.12 per share for two years were paid, as per the June 15, 2026 news release.
The uranium market in 2026 remains strong, with spot prices surpassing US$100/lb due to a structural supply deficit and rising demand from AI-powered data centers and nuclear expansion in China, India, and the United States. A sector report by Shaw and Partners forecasts a multi-year price spike toward US$200/lb, citing tightening fuel cycles and accelerating demand. Global nuclear capacity consumes about 180 million pounds of U3O8 annually, while mine production delivers only 150 Mlb. According to the World Nuclear Association, annual uranium consumption could reach 390 Mlb by 2040 under its reference scenario. New mine supply requirements this decade could exceed 350 Mlb, with structural deficits potentially surpassing 200 Mlb per year unless new large-scale projects come online.
The technical information in this release was reviewed and approved by Michael Collins, P.Geo., President, CEO, and a Qualified Person under NI 43-101. The Yath Project is located in Nunavut's Angilak district, a rapidly emerging uranium camp where historic surface samples returned up to 9.8% U3O8 and drillhole BOG-8-80 intersected 1.0 m at 0.224% U3O8.
