Generation Uranium starts summer 2026 field program at Yath, Nunavut

Vancouver, British Columbia – July 2, 2026 – Generation Uranium Inc. (TSX.V: GEN, OTCQB: GENRF, FRA: W85) (“Generation” or the “Company”) is pleased to announce the start of it ' s inaugural field program for the Yath Project, Kivalliq Region, Nunavut. The Company has assembled a team with strong skills in geophysics, structural geology and prospecting. The focus of this initial program will be to define discrete drill targets at historic showing, ground truth and define drill targets from new anomalies defined from the Expert Geophysics MMT survey , and finally deliver a ranked drill target program for execution on receipt of our drill permit.

With the initial database compilation of historical and 2024 MMT data, the company is now focused on drill targeting through:   The ground integration of the MMT conductors into the 17 original targets.   The ground checking new targets defined by the MMT survey, and   Reviewing conductors that are on trend with Atha Energy's LAC 50 historic deposit.   CEO Michael Collins comments, " I joined Generation 8 months ago in November 2025 because I believe Yath has exceptional discovery potential. 2026 is where it is all starting to come together with the final MMT survey being complete, and target selection in anticipation of drilling. I env y ie our Geology team’s opportunity to be a part of this project at such a pivotal moment but I also think they have a tough job sifting through so many great targets " With over 17 km 3 2 of ground in the Angikuni Basin, the Yath Project is surrounded, north and south by Atha Energy's Angilak Project* where they have 3 drills running, following up on their 2025 program where they made 5 new discoveries. * Mineralization hosted on an adjacent property is not necessarily indicative of mineralization hosted on Generation’s property. Key targets for Generation's 2026 targeting program include: VGR Trend The VGR Trend extends for approximately five kilometres along a major fault structure that is characterized by elevated radioactivity and extensive clay–silica alteration.   Grab sample grades reaching up to 3.75% U₃O₈ .

Four RC drill holes tested the main VGR showing, returning encouraging results. One hole recorded strongly elevated downhole radioactivity ranging from 5,000 to 15,000 cps (Mt. Sopris probe) over the upper 65 metres. A rock grab sample from the VGR Zone returned 1.65% U₃O₈ .

BOG–Embryo Creek Trend Hosts a three‑kilometre radioactive corridor of rocks and boulders that is largely concealed by overburden. Uranium and sulphide mineralization appears to be concentrated in zones of enhanced fracturing and dyke-related alteration.     Historical prospecting in the BOG–Embryo Creek area (1981) led to the discovery of several high-grade showings within granitic gneiss. Showing MM81‑276 returned 9.81% U₃O₈ , 0.73% Cu, 0.79% MoS₂, and 3.7 oz/ton Ag .

DAB‑81‑200 returned 2.14% U₃O₈ , 0.22% MoS₂, and 0.42 oz/ton Ag, while JD‑81‑41, a hematized mylonite gneiss boulder, assayed 3.97% U₃O₈ and 1.0 m at 0.224% U₃O₈ from 25.5 m in drillhole BOG-8-80.   Lucky Break Area The Lucky Break area features several highly radioactive rocks containing multiple metals and pitchblende in quartz-carbonate breccia veins found just below the surface. The polymetallic sulphides are minerals composed of multiple metals, often including copper, lead, zinc, and nickel.     SC-13 zone T he SC‑13 Zone consists of two historical trenches with significant uranium values. Trench A returned an average of 0.82% lb/ton U₃O₈ , with peak sample SC13‑A4 grading 0.188 U₃O₈ and local radioactivity reaching 80,000 cps.

Trench B averaged 1.79 lb/ton U₃O₈ over 8.4 metres , with a peak value of 0.52% U₃O₈ (sample SC13‑B3) and radioactivity up to 75,000 cps.     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.

Historic work has reported with historic results surface samples up to 9.8% U₃O₈ and 1.0 m at 0.224% U₃O₈ from 25.5 m in drillhole BOG-8-80. With a growing portfolio of high‑priority targets in a well‑understood uranium district, Generation Uranium 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, CIM, FCSI -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 U₃O₈ 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.

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