Vancouver, British Columbia, Canada, June 13, 2024 – Generation Uranium Inc. (the “Company” or “Generation”), (TSXV: GEN) (OTCQB: GENRF) is pleased to announce that it has signed a consulting agreement (the “Agreement”) with APEX Geoscience Ltd. (“APEX”) to provide geological consulting services with respect to the Yath Uranium Project (“Yath”) located in Nunavut, Canada.

Based on the terms of the Agreement, APEX will complete all outstanding exploration authorization applications for an upcoming diamond drill program at Yath. This includes preparing application forms and supplemental documents for submission to the Nunavut Planning Commission, Nunavut Impact Review Board, and Kivalliq Inuit Association. APEX will also provide follow-up services for the exploration authorization application submission, which will include responding to public review comments, communicating with government agencies, and making necessary edits to the applications.

In addition, APEX will review previous exploration data at Yath and propose necessary ground preparations in advance of drill target selections for the anticipated diamond drill campaign.

Historic surface sampling by Pan Ocean Oil Ltd. in 1981 yielded uranium values of 9.81%, 3.95%, and 2.14% U3O8 within surface float boulders. More recent field work by Kivalliq Energy between 2010-2012 returned 14 rock samples with U3O8 values ranging from 1% to 5%, concentrated around fault lines and basin unconformities. Notable concentrations of high-grade samples aligning with regional fault lines, as corroborated by a 2012 seismic line indicating a VGR trend, affirm the findings from the 1970’s and 1980’s, underscoring the substantial uranium mineralization potential within the zone.

We are thrilled to embark on this geology-based collaboration with APEX as we drive towards our diamond drilling program at Yath,” stated Generation President and Chief Executive Officer, Anthony Zelen. “This partnership marks a significant milestone for our company, underscoring our commitment to innovative exploration and sustainable development. Together, we are poised to unlock the full potential of the Yath Uranium Project, setting the stage for a new era of prospective growth and discovery."

About Generation Uranium

The Company is a natural resource company engaged in the exploration and development of mineral properties. The Company holds a 100% interest in the Yath Uranium Project, located in the Territory of Nunavut.

About APEX Geoscience Ltd.

APEX is a privately-owned, independent, full-service geological consulting company that provides high quality, cost effective and timely geological consulting services – worldwide. The APEX team provides services ranging from casual project staffing through to full project management including resource estimation and geological modeling.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), principal and consultant of APEX Geoscience Ltd. of Edmonton, AB, a consultant to the Company and a “qualified person” as defined in National Instrument 43-101 — Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed, which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.

Contact Information

Anthony Zelen

President and Chief Executive Officer

[email protected]

1-778-388-5258

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

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 the contents of this news release.