Vancouver, British Columbia, Canada – September 26th, 2024, Generation Uranium Inc. (the “Company” or “Generation”) (TSXV: GEN) (OTCQB: GENRF) (FSE: W85) is pleased to  announce it has applied for a multi-year permit application for drilling and camp use to the Land  Use Permit office through Crown-Indigenous Relations and Northern Affairs Canada for  approval on its flagship Yath Uranium Project (“Yath”) in Nunavut, Canada. The Company  intends to commence a comprehensive range of activities at Yath upon receipt of drilling permit.  

The 123.45 km² Yath Project is Generation’s flagship uranium project located in the Yathkyed  Basin. The Basin is renowned for hosting uranium mineralization comparable in scale to the  Athabasca Basin in the Canadian Shield of northern Saskatchewan and Alberta, Canada, and  McArthur district in Australia. Previous surface sampling includes recorded uranium content  reaching up to 9.81%, 3.95%, and 2.14% U3O8 in surface boulders and field surveys conducted  between 2012-2014 by Kivalliq Energy unveiled U3O8 values ranging from 1% to 10%,  concentrated around fault lines and basin unconformities.  

Upon the expected receipt of drilling permit, the Company is expected to establish a base camp  accommodating 10-15 individuals and prepare Yath for comprehensive drill program activities  based on historical data and current prospecting.  

"We are pleased to have formally submitted the necessary permit application to begin more  expansive exploration activities at Yath," said CEO Anthony Zelen. "We remain enthusiastic  about the commercial potential of the property, which lies in one of the most prolific uranium  basins in the world.”  

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.  

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.