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 company's Yath project in Nunavut's Kivalliq region during July 2026. This survey is designed to fill gaps in existing MMT coverage, particularly in the Central Gap Zone and the western VGR-NORM trend, which are considered critical for understanding the geological framework that hosts uranium mineralization.
The Central Gap Zone is strategically important as it lies along a northwest-trending geological trend extending from the LAC 50 Uranium Deposit on Atha Energy's adjacent property (Atha Energy 2026 Angilak Program). This zone also encompasses several northeast-trending structures related to known uranium showings at BOG, MP-25, Amy's OC, and Lucky Break. On the western side, the VGR-NORM trend presents an extensive, deep-seated, clay-altered and uranium-mineralized structure that remains poorly understood. The MMT surveys aim to improve the resolution of these targets, moving from hundred-meter-scale zones to tens-of-meter-wide corridors.
MMT surveys are particularly effective for unconformity-style uranium systems because they detect three key elements: graphitic conductor fault zones, which are associated with high-grade uranium deposits globally; hydrothermal alteration halos, where uranium-bearing fluids alter host rocks to produce conductivity or resistivity anomalies; and deep structural controls that guide fluid migration. By integrating MMT data with historic mapping and sampling, Generation Uranium expects to significantly narrow the footprint of known targets and refine drill hole placements for the upcoming exploration program.
CEO Michael Collins commented, '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 provide a better understanding of structures on the VGR clay altered zones.'
The broader uranium market context supports the company's exploration efforts. A February 2026 report by Shaw and Partners (Shaw and Partners Uranium Forecast) forecasts a potential multi-year price spike toward US$200/lb, citing tightening fuel contracting cycles, accelerating demand from AI data centers and nuclear expansion in China, India, and the US, and persistent supply shortfalls. The World Nuclear Association's reference scenario indicates global nuclear capacity could push annual uranium consumption to 390 million pounds by 2040, while current mine production delivers only about 150 million pounds annually. This structural deficit underscores the need for new discoveries, positioning exploration-stage companies like Generation Uranium favorably.
In conjunction with the survey announcement, the company disclosed the grant of incentive stock options to officers and consultants for 500,000 common shares at $0.08 per share, expiring June 30, 2028. Additionally, a correction was made to a previous news release regarding finder warrants, with an extra $1,500 paid and 21,429 finder warrants issued at $0.12 per share, expiring June 15, 2028, subject to a four-month hold period.
Michael Collins, P.Geo., President, CEO, and Director of Generation Uranium, serves as the Qualified Person under NI 43-101 and has reviewed the technical information in this release. The Yath Project, located in Nunavut's Angilak district, has historic surface samples up to 9.8% U3O8 and drill intercepts such as 1.0 m at 0.224% U3O8 from 25.5 m in hole BOG-8-80.
