Yath Project

Overview

Location

Our 100% wholly owned Yath Project is located in the prolific and under-explored Thelon Basin in Nunavut, Canada. Situated along trend from the 43 million lbs Lac 50 uranium deposit being advanced by Latitude Uranium, a company currently being acquired by ATHA Energy Corp for an all-share acquisition valued at $64.7M CAD.

  • Stable Mining Jurisdiction

  • Strategic Land Position

  • High Grade Historic Results

  • Near-term Drill Target Potential

  • Extensive Historical Work

  • Surrounded by Latitude and Atha Energy

  • Unconformity & Beaverlodge Deposit Targets

Summary

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

  1. Historical high-grade mineralization was recorded at the surface, and the geological components to produce 9.81%, 3.95% and 2.14% U3O8 in surface boulders

  1. Angilak Project historical resource contains 43.3M lbs U3O8 @ 0.69% (2.8 MT U3O8)*1

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

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

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

  1. Historical high-grade mineralization was recorded at the surface, and the geological components to produce 9.81%, 3.95% and 2.14% U3O8 in surface boulders

  1. Angilak Project historical resource contains 43.3M lbs U3O8 @ 0.69% (2.8 MT U3O8)*1

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

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

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

Region - Angliak Trend & Historical Exploration

Historical exploration in the region spread across the commodity mix

Geology

  • 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

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

Prospectivity

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

2012-2014 Kivalliq Energy Results on Yath

Numerous U3O8 values between 1-10%

Confluence of faults

Basin unconformity cover

2012 - 2014 samples of high grade are localized along regional faults

2012 Seismic Line with VGR trend

Results from the 1970’s are verified by the 2012 - 2014 sampling

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 known prospectivity from extensive historical exploration programs of the VGR trend on the Yath Project was never followed up with sufficient diamond drilling due to the uranium price collapse following Fukushima. With an abundance of data to build on, uranium prices now at all time highs and the recognition that nuclear will be the energy of tomorrow, the opportunity is now.

An excerpt taken from the 2012 Assessment report:

“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.”

Work Program

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