Generation Uranium Corp. announced that an inaugural exploration program will begin on its 85km2, 8,500-ha property located in the Thelon Basin in Nunavut, Canada. Due to strong historical sampling and anticipated long-term elevated world spot uranium pricing due to favorable supply and demand dynamics, the Company anticipates that it will expend a significant amount of its capital resources into the basin in 2024.

Generation's Yath Project ("Yath") is located in the Thelon Basin mining jurisdiction that exhibits strategic land positioning and situated along trend from the 43 million lbs Lac 50 uranium deposit being advanced by Latitude Uranium, currently being acquired by ATHA Energy Corp. for an all-share acquisition valued at CAD 64.7 million. Management believes Yath covers a possible western extension of the LAC 50 trend and associated commercialization potential.

Historical grades at Yath conducted by Pan Ocean Oil Ltd. in the 1980's highlight the known uranium and secondary mineralization of the property. In 1981, sample Bog-8-80 DDH revealed a promising intersection, assaying 1m at 0.224% U3O8 from 25.5m, with chip samples registering 6.7% U3O8 and 0.7 ounces per ton of Ag. Additional sampling from granoblastic Gneiss in 1982 (sample MM-276) in the heart of the Yath Claim returned including 14,000 CPS, 9.81% U3O8, and 3.7 ounces per ton of Ag.

Additionally, field samples conducted by Kivalliq Energy Corp. between 2012-2014 discovered U3O8 values ranging from 1% to 10%, with a confluence of faults and basin unconformity cover. High-grade samples localized along regional faults were observed coinciding with a VGR trend identified in a seismic line from 2012.

These findings validate results from the 1970s, indicating significant potential for uranium mineralization in the zone. With high-grade historic results and extensive historical work, the Company is anticipated to resume additional field exploration in the coming weeks at Yath to better decipher the near-term drill target potential of known uranium mineralization. Generation believes in the untapped potential at Yath, as adequate diamond drilling was never conducted as a consequence of the downturn in uranium prices subsequent to the Fukushima nuclear incident.