Vancouver, British Columbia, Canada – August 27th, 2024, Generation Uranium Inc. (the  “Company” or “Generation”) (TSXV: GEN) (OTCQB: GENRF) (FSE: W85) is pleased to  announce that the recent acquisitions of the Yellow Frog and Pink Toad Uranium Projects (the  “Acquisitions”) on the Angilak Trend in the Yathkyed Basin, Nunavut Territory, Canada resulted  in the acquisition of a VIM Uranium Target and the extension of VGR trend. The new targets  encompasses 39.25 line-kilometers of historical VLF ground geophysics and features a 2.5 km  long conductive fault zone with surface anomalies of uranium, potentially linked to a magnetic  high.  

In addition, the new Acquisitions have increased Generation’s ownership in the VGR trend to  the west. This VGR trend hosts several significant historical showings including the highly  prospective VGR fault system, including 3 to 7 meter wide steeply-dipping carbonate/hematite  veins and fractures containing uranium and sulphide mineralization in trachyandesite. Historical  prospecting to the southwest along strike of the main VGR showing identified areas of alteration  and uranium mineralization with values of 10% U308, extending the known mineralized trend.  

"Our attainment of the VIM Uranium Target, along with the extension of the VGR trend,  represents a potentially significant step forward for our exploration program," said CEO Anthony  Zelen. "We look forward to further exploration activities on our newly acquired Yellow Frog and  Pink Toad Projects once the necessary permitting is in place.”  

The VGR trend offers a promising potential environment for high-grade unconformity-type  uranium mineralization on the property. The area’s potential is based on a combination of  geological and geophysical factors. These include its structural position in the Proterozoic basin,  uranium mineralization associated with a clay-altered conductive fault zone and multiple strong  gravity anomalies. These characteristics typically indicate the potential of unconformity-style  uranium mineralization.  

Following the Yellow Frog and Pink Toad Uranium Project acquisitions, Yath spans 123.45 km²  and enlarges due north and within close proximity to the uranium project under advancement by  Atha Energy Corp.  

For additional information on Yath and other company assets, please visit our investor  presentation and website.  

Derrick Strickland, P. Geo. (L5669), a qualified person as defined by National Instrument 43-101  (Standards of Disclosure for Mineral Projects), has reviewed the scientific information that forms 

the basis for this news release and has approved the disclosure herein. Mineralization on  adjacent projects may not be indicative of mineralization on the Yath Project.  

FOR FURTHER INFORMATION CONTACT  

Anthony Zelen  

President and Chief Executive Officer  

[email protected] 

778-388-5258  

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 123.45 km² Yath Uranium  Project, located in the Yathkyed Basin in Nunavut. The Basin is renowned for hosting  commercial grade deposits comparable in scale to the Athabasca Basin in the Canadian Shield  of northern Saskatchewan and Alberta, Canada, and McArthur district in Australia.  

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.