Generation Uranium Provides Exploration Update, Incorporating MMT Survey Results and AI for Target Refinement

Vancouver, British Columbia — June 23, 2026 — Leads & Copy — Generation Uranium Inc. (TSXV: GEN, OTCQB: GENRF, FRA: W85) is advancing its exploration planning for the 2026 field season, focusing on refining historic targets through the integration of 2024 MMT survey results and the evaluation of artificial intelligence as a tool for target ranking and optimization. The company is awaiting approval of its drill permit to commence the upcoming field program.

In 2025, Generation received the results of the Expert Geophysics Mobile Magnetotellurics (MMT) survey on the Yath Project. The survey covered approximately 120 km², with 810 line kilometres flown. MMT surveys for unconformity-style uranium systems typically target graphitic conductor fault zones, hydrothermal alteration halos, and deep structural controls to identify pathways for uranium-bearing fluid migration.

The integration of conductive and resistive MMT corridors with historical mapping and sampling has significantly refined known targets, narrowing their footprint and improving the understanding of structural orientations beneath overburden. Targets previously identified at the hundreds of metres scale can now be constrained to zones tens of metres wide. The MMT data has refined the interpreted orientation of key uranium targets, including BOG, VGR, Embryo, FOX, and Lucky Break, indicating that conductive and resistive trends are oblique to earlier interpretations.

This integration of the MMT dataset with historical results, such as 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, is advancing the definition and prioritization of the most prospective drill targets for discovery.

To enhance target ranking and improve discovery success on the target-rich Yath project, Generation is engaging several AI-driven geological service providers 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.”

Michael Collins, P. Geo., President, CEO and Director of Generation Uranium, has reviewed and approved the scientific and technical information in this news release as a Qualified Person under National Instrument 43-101.

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. The company aims to make discoveries that contribute to the future global supply of clean nuclear energy.

The uranium market in 2026 continues to strengthen, driven by a widening structural supply deficit and accelerating global demand, with spot prices surpassing US$100/lb early in the year. Demand growth is attributed to the expansion of AI-powered data centers and increased nuclear generation capacity in China, India, and the United States. A February 2026 report by Shaw and Partners forecasts a potential multi-year uranium price spike towards US$200/lb, citing tightening fuel contracting cycles, accelerating nuclear demand, and persistent supply shortfalls.

Global nuclear capacity currently consumes approximately 180 million pounds (Mlb) of U₃O₈ annually, while existing mine production delivers about 150 Mlb. Projections suggest annual uranium consumption could reach 390 Mlb by 2040. The Shaw and Partners report indicates new mine supply requirements this decade could exceed 350 Mlb, and structural supply deficits could surpass 200 Mlb per year in the coming decades without new large-scale uranium projects entering production. The uranium market is expected to remain tight, with low inventories and rising demand driving utilities towards aggressive long-term contracting strategies, strengthening the outlook for exploration-stage companies.

Source: Generation Uranium Inc.