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Generation Mining Announces Management Changes

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Generation Mining (TSX:GENM, OTCQB: GENMF) announced that Chief Operating Officer Drew Anwyll will depart the company effective February 28, 2025. His responsibilities will be transferred to existing members of Gen Mining's technical team. Anwyll, who joined in March 2020, was instrumental in advancing the Marathon Project through feasibility studies and environmental impact assessment.

The project will continue to be advanced by key team members including Paul Murphy, VP Projects, who brings 35 years of construction and engineering experience from roles at G Mining Services, Centerra Gold, and IAMGOLD, and Ruben Wallin, VP Sustainability, who has previous experience with Placer Dome, De Beers Canada, Barrick, Osisko, and Detour Gold.

Generation Mining (TSX:GENM, OTCQB: GENMF) ha annunciato che il Chief Operating Officer Drew Anwyll lascerà l'azienda con effetto dal 28 febbraio 2025. Le sue responsabilità saranno trasferite ai membri esistenti del team tecnico di Gen Mining. Anwyll, che si è unito nel marzo 2020, è stato fondamentale per il progresso del Marathon Project attraverso studi di fattibilità e valutazioni di impatto ambientale.

Il progetto continuerà a essere sviluppato da membri chiave del team, tra cui Paul Murphy, VP Progetti, che porta con sé 35 anni di esperienza nella costruzione e ingegneria da ruoli in G Mining Services, Centerra Gold e IAMGOLD, e Ruben Wallin, VP Sostenibilità, che ha precedenti esperienze con Placer Dome, De Beers Canada, Barrick, Osisko e Detour Gold.

Generation Mining (TSX:GENM, OTCQB: GENMF) anunció que el Director de Operaciones Drew Anwyll dejará la empresa a partir del 28 de febrero de 2025. Sus responsabilidades serán transferidas a miembros existentes del equipo técnico de Gen Mining. Anwyll, quien se unió en marzo de 2020, fue fundamental para el avance del Marathon Project a través de estudios de viabilidad y evaluaciones de impacto ambiental.

El proyecto continuará siendo desarrollado por miembros clave del equipo, incluyendo a Paul Murphy, VP de Proyectos, quien aporta 35 años de experiencia en construcción e ingeniería de roles en G Mining Services, Centerra Gold e IAMGOLD, y Ruben Wallin, VP de Sostenibilidad, quien tiene experiencia previa con Placer Dome, De Beers Canada, Barrick, Osisko y Detour Gold.

Generation Mining (TSX:GENM, OTCQB: GENMF)는 COO인 Drew Anwyll이 2025년 2월 28일부로 회사를 떠날 것이라고 발표했습니다. 그의 책임은 Gen Mining의 기존 기술 팀원들에게 이관될 것입니다. 2020년 3월에 합류한 Anwyll은 Marathon Project의 타당성 조사 및 환경 영향 평가를 통해 프로젝트를 발전시키는 데 중요한 역할을 했습니다.

프로젝트는 Paul Murphy (프로젝트 VP)와 Ruben Wallin (지속 가능성 VP) 등 주요 팀원들에 의해 계속 진행될 것입니다. Murphy는 G Mining Services, Centerra Gold 및 IAMGOLD에서의 역할을 통해 35년의 건설 및 엔지니어링 경험을 가지고 있으며, Wallin은 Placer Dome, De Beers Canada, Barrick, Osisko 및 Detour Gold에서의 이전 경험을 보유하고 있습니다.

Generation Mining (TSX:GENM, OTCQB: GENMF) a annoncé que le Directeur des opérations Drew Anwyll quittera l'entreprise à compter du 28 février 2025. Ses responsabilités seront transférées aux membres existants de l'équipe technique de Gen Mining. Anwyll, qui a rejoint en mars 2020, a joué un rôle clé dans l'avancement du Marathon Project grâce à des études de faisabilité et des évaluations d'impact environnemental.

Le projet continuera d'être développé par des membres clés de l'équipe, y compris Paul Murphy, VP Projets, qui apporte 35 ans d'expérience dans la construction et l'ingénierie grâce à des rôles chez G Mining Services, Centerra Gold et IAMGOLD, et Ruben Wallin, VP Durabilité, qui a une expérience antérieure avec Placer Dome, De Beers Canada, Barrick, Osisko et Detour Gold.

Generation Mining (TSX:GENM, OTCQB: GENMF) gab bekannt, dass der Chief Operating Officer Drew Anwyll das Unternehmen zum 28. Februar 2025 verlassen wird. Seine Verantwortlichkeiten werden an bestehende Mitglieder des technischen Teams von Gen Mining übertragen. Anwyll, der im März 2020 zu uns kam, war maßgeblich daran beteiligt, das Marathon Project durch Machbarkeitsstudien und Umweltverträglichkeitsprüfungen voranzubringen.

Das Projekt wird weiterhin von Schlüsselteammitgliedern wie Paul Murphy, VP Projekte, vorangetrieben, der 35 Jahre Erfahrung in Bau und Ingenieurwesen aus seiner Tätigkeit bei G Mining Services, Centerra Gold und IAMGOLD mitbringt, sowie Ruben Wallin, VP Nachhaltigkeit, der über frühere Erfahrungen bei Placer Dome, De Beers Canada, Barrick, Osisko und Detour Gold verfügt.

Positive
  • Smooth transition plan with experienced technical team members taking over responsibilities
  • Strong leadership continuity with Paul Murphy's 35 years of construction and engineering expertise
  • Maintained sustainability oversight with Ruben Wallin's extensive industry experience
Negative
  • Loss of key executive who led Marathon Project through critical development phases

TORONTO--(BUSINESS WIRE)-- Generation Mining Limited (TSX:GENM, OTCQB: GENMF) ("Gen Mining" or the "Company") announces a change in the Company’s management team with the departure of Mr. Drew Anwyll, Chief Operating Officer of the Company, effective February 28, 2025. His duties will be assumed by existing members of Gen Mining’s technical team.

Jamie Levy, President and CEO commented “Drew has been with Generation Mining since March 2020 and played a key role in advancing the Company’s Marathon Project through feasibility studies and the environmental impact assessment process. Over the past 5 years he has been supported by a strong team of professionals who will continue to advance the Marathon Project through permitting and development activities, including Paul Murphy, VP Projects, and Ruben Wallin, VP Sustainability. On behalf of the entire Company, I want to thank Drew for his contributions and wish him well in his future endeavours.”

Mr. Murphy has deep experience building mines. He is a civil engineer with 35 years of experience in construction and engineering. Previously he held senior positions with G Mining Services, was Vice-President Projects at Centerra Gold, and served as General Manager of Engineering and Construction at IAMGOLD. Mr. Wallin is an engineer who has held senior positions at Placer Dome, De Beers Canada, Barrick, and Osisko, and was formerly Vice-President Environment and Sustainability for Detour Gold.

About Generation Mining Limited

Gen Mining’s focus is the development of the Marathon Project, a large undeveloped copper-palladium deposit in Northwestern Ontario, Canada. On May 31, 2024, the Company filed an Amended Feasibility Study Update for the Marathon Project with an effective date of December 31, 2022 (the “Feasibility Study”).

The Feasibility Study estimates a Net Present Value (using a 6% discount rate) of C$1.16 billion, an Internal Rate of Return of 25.8%, and a 2.3-year payback. The mine is expected to produce an average of 166,000 ounces of payable palladium and 41 million pounds of payable copper per year over a 13-year mine life (“LOM”). Over the LOM, the Marathon Project is anticipated to produce 2,122,000 ounces of palladium, 517 million lbs of copper, 485,000 ounces of platinum, 158,000 ounces of gold and 3,156,000 ounces of silver in payable metals. For more information, please review the Feasibility Study filed under the Company’s profile at www.sedarplus.ca or on the Company’s website at https://genmining.com/projects/feasibility-study/.

The Marathon Property covers a land package of approximately 26,000 hectares, or 260 square kilometres. Gen Mining owns a 100% interest in the Marathon Project.

Qualified Person

The scientific and technical content of this news release was reviewed, verified, and approved by Drew Anwyll, P.Eng., M.Eng, Chief Operating Officer of the Company, and a Qualified Person as defined by Canadian Securities Administrators’ National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved, including statements related to the life of mine; mineral production estimates, payback period, and financial returns from the Marathon Project.

Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. In particular, there can be no assurance that the life of mine; mineral production estimates, payback period, and financial returns from the Marathon Project will achieve the anticipated results described herein. There are other factors that could also cause actual results to differ materially from those in the forward-looking information. These include the timing for a construction decision; the progress of development at the Marathon Project, including progress of project expenditures and contracting processes, the Company’s plans and expectations with respect to liquidity management, continued availability of capital and financing, the future prices of palladium, copper and other commodities, permitting timelines, exchange rates and currency fluctuations, increases in costs, requirements for additional capital, and the Company’s decisions with respect to capital allocation, and the impact of COVID-19, inflation, global supply chain disruptions, global conflicts, including the wars in Ukraine and Israel, the project schedule for the Marathon Project, key inputs, staffing and contractors, continued availability of capital and financing, uncertainties involved in interpreting geological data and the accuracy of mineral reserve and resource estimates, environmental compliance and changes in environmental legislation and regulation, the Company’s relationships with Indigenous communities, results from planned exploration and drilling activities, local access conditions for drilling, and general economic, market or business conditions, as well as those risk factors set out in the Company’s annual information form for the year ended December 31, 2023, and in the continuous disclosure documents filed by the Company on SEDAR+ at www.sedarplus.ca.

Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR+ at www.sedarplus.ca.

For further information please contact:

Jamie Levy

President and Chief Executive Officer

(416) 640-2934 (O)

(416) 567-2440 (M)

jlevy@genmining.com

Source: Generation Mining Limited

FAQ

When is Drew Anwyll leaving his position as COO of Generation Mining (GENMF)?

Drew Anwyll will depart from his position as Chief Operating Officer of Generation Mining effective February 28, 2025.

Who will take over Drew Anwyll's responsibilities at Generation Mining (GENMF)?

His duties will be assumed by existing members of Gen Mining's technical team, including Paul Murphy, VP Projects, and Ruben Wallin, VP Sustainability.

What major projects did Drew Anwyll oversee at Generation Mining (GENMF)?

Drew Anwyll played a key role in advancing the Marathon Project through feasibility studies and the environmental impact assessment process since March 2020.

What experience does Paul Murphy bring to Generation Mining (GENMF)?

Paul Murphy brings 35 years of construction and engineering experience, having held senior positions at G Mining Services, served as Vice-President Projects at Centerra Gold, and as General Manager of Engineering and Construction at IAMGOLD.

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