Mr. Michael Collins reports

GENERATION URANIUM INCREASES AND CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Further to the news release of May 15, 2026, Generation Uranium Inc. has increased and closed the first tranche of its non-brokered private placement, and has raised $797,369 through the issuance of 11,390,983 units at a price of seven cents per unit. Each unit is composed of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable to purchase one common share at a price of 12 cents per share for a period of two years expiring May 29, 2028.

The company paid finders' fees of $9,811.20 and issued 140,160 finders' warrants at a price of 12 cents per finder warrant share for a period of two years expiring May 29, 2028.

All securities issued are subject to a four-month hold period expiring Sept. 30, 2026.

Proceeds raised from the issuance of the units will be used by Generation for exploration on its Canadian uranium and critical mineral properties, general working capital, marketing, and project development.

An insider of the company participated in the offering for $20,020 or 286,000 units. The issuance of units to insiders is considered a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to Section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to Section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25 per cent of the company's market capitalization.

Due to strong response from investors, the company expects to close the final tranche of the offering no later than June 12, 2026, for a total raise of up to $1-million.

About Generation Uranium Inc.

Generation Uranium is a Canadian exploration company focused on advancing high-quality uranium assets in premier jurisdictions. Its flagship Yath project is strategically located in Nunavut's Angilak district -- one of Canada's most active and rapidly emerging uranium camps. With a growing portfolio of high-priority targets and exposure to proven mineralized trends, Generation is well positioned to contribute to the future global supply of clean nuclear energy.