TSX-V: GEN

OTCQB: GENRF

YATH URANIUM PROJECT

Pioneering Uranium
Exploration in the
Thelon Basin

The Yath Uranium Project covers over 17,363 hectares of highly prospective ground in one of the world’s most promising uranium districts.

YATH PROJECT

Project Overview

Our 100% wholly owned Yath Project is located in the prolific and under-explored Thelon Basin in Nunavut, Canada. Situated along trend from Atha Energy’s 43.3 million lbs LAC 50 uranium deposit. 

Angilak Property Historical Resource Reported by ValOre Metals Corp. in a Technical Report entitled “Technical Report and Resource Update for The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P. Geol. of APEX Geosciences, Robert Sim, B.Sc., P. Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013. Inferred mineral resources of 2,831,000 tonnes at an average grade of 0.69% U₃O₈ and 0.17% molybdenum containing 43.3 million pounds of U3O8 and 10.4 million pounds of molybdenum. The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines. Results on adjacent projects may not be indicative of the potential of the Yath Project.

Highlights

Strategic Land Position
Surrounded by Atha Energy's Angilak Project
Historical Work
Extensive historical exploration delivering high grade results and targets
Near-term
Reinterpreting historic targets with MMT inversion data that delivered 5 discoveries for Atha on the Angliak project to the south in 2025

summary

The Yath Project is uniquely positioned at the confluence of two sub-basins, the Yathkyed Basin & Angikuni Basin.

Historic high-grade mineralization has been identified at surface in outcrop and in boulder samples, producing grades of up to 9.8% U₃O₈

01

Atha Energy's Angilak Project has a historical resource contains 43.3M lbs U₃O₈ @ 0.69% (2.8 MT U³O⁸)*1
(see disclaimer above)

02

The Thelon Basin is an unconformity basin globally recognized with proven economics - Athabasca, Saskatchewan; McArthur, Australia; Thelon, Nunavut

03

The 85km² project is contiguous with a known uranium project that is currently being advanced

04

Several strong gravity anomalies have been proven by drilling to overlay clay alteration along the unconformity and warrant follow-up

05

13 historic drill holes with numerous anomalous radiation reading including RC11-BOG-001 returned the best spot reading of 6300 CPS (counts per second) at 17.53 metres with assays measuring 0.37% Cu and 0.12% U3O8 between 16.8 and 18.3 metres

06

Clay alteration is identified in drill cuttings and in outcrop at the VGR target area which is similar to alteration see in Athabasca unconformity deposits

07

New first derivative magnetic mapping that indicates structure parallel demagnetized zones in relation to historically defined targets

Region - Angliak Trend & Historical Exploration

Historical exploration in the region spread across the commodity mix

EM Survey and Rock Samples

YATH PROJECT

Geology

No definitive source of the high-grade boulders have been located

  • The Yath project covers a possible western extension of the LAC 50 trend

  • Multiple NE trending regional faults bisect the licence area

  • Basin-bounding unconformities cross the western side of the license and are exposed in the centre

  • The Central belt of Felsic Gneiss are in faulted contacts with Henik Group volcanics

Prospectivity

The Yath Project has the similar discovery potential to the Angikuni Sub-basin

The Yath project is crossed by Atha energy LAC 50 trend, which intersects the Embryo Project

Historical Seismic Data & Drilling

In the summer of 2012, a seismic reflection survey was completed aiming to image below two coincident geophysical anomalies

A large-scale gravity low which is conducive to discovery since many of the high-grade deposits in the Athabasca basin are associated with low gravity & EM conductors

The sources of these types of anomalies can be related to intensive clay alteration associated with mineralization

In 2012/2013 a small exploratory RC drilling campaign was undertaken to test the geophysical anomalies

  • Drilling was undertaken prior to the results of the Seismic survey
  • RC drilling encountered mineralized alteration, potentially proximal to unconformity-hosted Uranium mineralization

The Opportunity

Generation Uranium has inherited a project with several million dollars of historical exploration work conducted and several highly prospective drill targets

“The VGR represents one of the best settings for high-grade unconformity-style uranium mineralization on the property. Several geological and geophysical features combine to greatly increase the prospectivity of the area for deposits of this type, including its structural setting near the active margin of a Proterozoic basin, widespread surface mineralization associated with a conductive fault zone, and several strong gravity anomalies proven by drilling to overlie clay alteration along the fault. These are all common features of unconformity-style deposits in both Saskatchewan and Nunavut.”

An excerpt taken from the 2012 Assessment report

YATH PROJECT

Work Program

Leverage Historical Data

Prior work has provided Generation with high-potential targets

Seismic surveys have shown the key target horizon is typically deeper than previous drilling but still <300m deep

Refine Targets with Modern Geophysics

Early-season drone multi-platform geophysical surveys to add a further data layer to refine
current targets

Undertake Generation's Maiden Drill Program

Results from data collation andhigh-resolution geophysics will be drill-tested