Generation Uranium integrates MMT survey into historic targets

Vancouver, British Columbia – TheNewswire - June 23, 2026 – Generation Uranium Inc. (TSXV: GEN, OTCQB: GENRF, FRA: W85) (“Generation” or the “Company”) is pleased to provide an update on exploration planning for the 2026 field season. As the Company awaits approval of its drill permit and prepares for the upcoming field program, Generation is focused on refining and recalibrating historic targets through integration of the 2024 MMT survey results and the evaluation of artificial intelligence as an additional target ranking and optimization tool. 2024–2025 MMT Survey Integration In 2025, Generation received the results of the Expert Geophysics Mobile Magnetotellurics (MMT) survey completed on the Yath Project. The survey covered the majority of the property, with only a small block left incomplete due to deteriorating weather conditions.

In total, 810 line kilometres were flown over an area of approximately 120 km². (see Figure 1 below or original release if clipped out here) MMT surveys targeting unconformity style uranium systems focus on three key elements: • Graphitic Conductor Fault Zones - High grade unconformity uranium deposits globally are associated with basement fault zones enriched in graphite, which is highly conductive. • Hydrothermal Alteration Halos - Uranium bearing acidic fluids alter surrounding sandstone or host rocks, producing conductivity highs (clay alteration) or resistivity highs (silicification). • Deep Structural Controls - Understanding the architecture of deep structures helps identify pathways for uranium bearing fluid migration. Integration of conductive and resistive MMT corridors with historic mapping and sampling has significantly narrowed the footprint of known targets and, importantly, improved the understanding of structural orientations beneath overburden. Targets historically defined at the scale of hundreds of metres can now be constrained to zones only tens of metres wide.

The MMT data has 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.    Advancing Toward Drill‑Ready Targets The Company continues to integrate the MMT dataset with historic results from the Yath Project, including: Surface samples up to 9.8% U₃O₈ at the Embryo target   1.0 m at 0.224% U₃O₈ from 25.5 m in drillhole BOG‑8‑80   This work is advancing the definition and prioritization of the most prospective drill targets for discovery. AI Target generation and Ranking Generation recognizes that Yath is a target‑rich project with a substantial volume of both historic and modern data. To enhance target ranking and improve discovery success, the Company has engaged several AI‑driven geological service providers and is evaluating which group is best suited to support advanced target analysis on the project.

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.” * Atha Energy press release, May 5, 2026.

Mineralization hosted on an adjacent property is not necessarily indicative of mineralization hosted on Generation’s property. Click Image To View Full Size   Figure 1  Conductors and Resistors derived from Mobile Magnetotellurics survey conducted in 2024 by Expert Geophysics   Qualified Person Michael Collins, P. Geo., President, CEO and Director of Generation Uranium, and a Qualified Person as defined by National Instrument 43‑101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the scientific and technical information contained in this news release. About Generation Uranium Generation Uranium is a Canadian exploration company focused on advancing high‑quality uranium assets in premier jurisdictions.

Its flagship Yath Project is located in Nunavut’s Angilak district, one of Canada’s most active and rapidly emerging uranium camps. With a growing portfolio of high‑priority targets in a well‑understood uranium district, Generation is well positioned to make discoveries that contribute meaningfully to the future global supply of clean nuclear energy. For Further Information Michael Collins, P.Geo., CEO +1(778) 819-7881 admin@generationuranium.com   Roger Leschuk, VP Corporate Development rleschuk@generationuranium.com +1(604) 720-4544   Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.   Uranium Outlook 2026 The uranium market in 2026 continues to strengthen, supported by a widening structural supply deficit and accelerating global demand. Spot prices surpassed US$100/lb early in the year as mine production struggles to keep pace with reactor requirements. Demand growth is being driven by the rapid expansion of AI‑powered data centers, alongside significant increases in nuclear generation capacity in China, India, and the United States.

Long‑term contract prices have now moved above spot, reflecting a healthy and sustained trend as utilities secure supply in an increasingly competitive environment. A comprehensive sector report 2 released by Shaw and Partners in February 2026 forecasts the potential for a multi‑year uranium price spike toward US$200/lb. The report highlights tightening fuel contracting cycles, accelerating nuclear demand, and persistent supply shortfalls as the foundation for a powerful re‑rating across the uranium sector.

The report also underscores a growing disconnect between uranium supply and long‑term reactor demand. Global nuclear capacity currently consumes approximately 180 million pounds (Mlb) of U ₃ O ₈ annually, while existing mine production delivers only about 150 Mlb. According to the World Nuclear Association’s reference scenario 3 , global nuclear capacity could expand significantly by 2040, pushing annual uranium consumption toward 390 Mlb.

Shaw and Partners’ modelling further indicates: New mine supply requirements this decade could exceed 350 Mlb, once depletion of existing operations is included.   Structural supply deficits could surpass 200 Mlb per year in the coming decades unless new large‑scale uranium projects are brought into production.   Overall, the uranium market is expected to remain tight, with low inventories and rising demand driving utilities toward increasingly aggressive long‑term contracting strategies. This environment continues to strengthen the outlook for exploration‑stage companies positioned in proven and emerging uranium districts. References   1 https://athaenergy.com/atha-energy-completes-mobilization-commences-diamond-drilling-operations-as-part-of-the-2026-angilak-exploration-program-fully-funded-and-largest-to-date-at-the-project/ 2 https://widget.medianet.com.au/uranium-super-cycle-emerging-as-shaw-and-partners-lifts-price-forecast-to-us200lb/1044683?WebsiteId=104 3 https://world-nuclear.org/our-association/publications/global-trends-reports/world-nuclear-fuel-report-2025#:~:text=The%20World%20Nuclear%20Association's%20biennial%20report%20on,including%20targets%20to%20achieve%20net%2Dzero%20carbon%20emissions Copyright (c) 2026 TheNewswire - All rights reserved.

TheNewsWire June 23, 2026 - 12:05 AM PDT News by QuoteMedia www.quotemedia.com