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.”
For additional information on Yath and other company assets, please visit our investor presentation and website.
FOR FURTHER INFORMATION CONTACT
Anthony Zelen
President and Chief Executive Officer
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 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.
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.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Generation Uranium Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Generation Uranium Inc.’s industry; (b) market opportunity; (c) Generation Uranium Inc.’s business plans and strategies; (d) services that Generation Uranium Inc. intends to offer; (e) Generation Uranium Inc.’s milestone projections and targets; (f) Generation Uranium Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Generation Uranium Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Generation Uranium Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Generation Uranium Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Generation Uranium Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Generation Uranium Inc.’s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) Generation Uranium Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Generation Uranium Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Generation Uranium Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Generation Uranium Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Generation Uranium Inc.’s business operations (e) Generation Uranium Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Generation Uranium Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Generation Uranium Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Generation Uranium Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
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