Generation Mining Delivers Updated Feasibility Study for Canada's Next Critical Mineral Mine - the Marath

After-Tax NPV6% $1.16 Billion, IRR of 26%, Payback 2.3 years

Generation Mining Limited GENMGENMF ("Gen Mining" or the "Company") is pleased to announce positive results on the updated Feasibility Study ("2023 FS" or the "Feasibility Study") for the Marathon Palladium-Copper Project (the "Project") located near the Town of Marathon in Northwestern Ontario. The 2023 FS presents an optimized design for the Project with improved clarity on anticipated capital and operating costs in the current inflationary environment. The 2023 FS outlines the operation of an open pit mine and process plant over a mine life of 12.5 years and replaces the Company's March 2021 Feasibility Study (the "2021 FS").

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Project Cash Flow (After-Tax) (Graphic: Business Wire)

All dollar amounts are in Canadian dollars unless otherwise stated. All references to Mlbs are to millions of pounds and Moz are to millions of ounces and koz are to thousands of ounces.