Generation Mining Announces Results of Annual Meeting
GENERATION MINING ANNOUNCES RESULTS OF ANNUAL MEETING
Toronto, Ontario – June 16, 202 2 – Generation Mining Limited (TSX:GENM) (OTCQB: GENMF)
(“Gen Mining” or the “Company”) announces the results of its annual meeting (the “Meeting”) of
shareholders held yesterday June 15, 2022.
The eight (8) candidates nominated for election to the Company’s board of directors, and listed in the
Company’s Management Information Circular dated May 9, 2022, were elected by a majority of the votes
cast by Shareholders present in person or represented by proxy at the Meeting. Each director elected will
continue to hold office until the next annual meeting of Shareholders or until the director resigns or a
successor is elected or appointed. The voting results were as follows:
Nominee Votes For Votes Withheld
Jamie Levy 53,985,180 27,800
(99.95%) (0.05%)
Kerry Knoll 53,785,180 227,800
(99.58%) (0.42%)
Stephen Reford 52,055,680 1,957,300
(96.38%) (3.62%)
Rodney Thomas 53,984,180 28,800
(99.95%) (0.05%)
Paul Murphy 51,842,680 2,170,300
(95.98%) (4.02%)
Phillip Walford 53,984,180 28,800
(99.95%) (0.05%)
Cashel Meagher 53,985,180 27,800
(99.95%) (0.05%)
Jennifer Wagner 53,772,030 240,950
(99.55%) (0.45%)
Shareholders of the Company also voted in favour of a resolution to re -appoint RSM Canada LLP as the
auditor of the Company until the next annual meeting of Shareholders and the board of directors were
authorized to fix the remuneration of the auditor.
Further details on the above matters, including the report of voting results thereon, are available under the
Company’s profile on www.sedar.com.
About the Company
Gen Mining’s focus is the development of the Marathon Project, a large platinum group metal mineral
deposit in Northwestern Ontario. The Company released the results of the Feasibility Study on March 3,
2021 and published the NI43-101 Technical Report dated March 25, 2021. The Marathon property covers
a land package of approximately 22,000 hectares, or 220 square kilometres. Gen Mining owns a 100%
interest in the Marathon Project.
The March 2021 Feasibility Study for the Marathon Project estimated that at US$ 1725/oz palladium, and
US$3.20/lb copper, Marathon’s Net Present Value (at 6% discount rate) is approximately C$1.07 billion
with a payback of 2.3 years and an Internal Rate of Return of 30%. Up front capital costs were estimated at
C$665 million, net of e quipment financing and pre -completion operating costs and revenues. The mine
would produce an estimated 245,000 palladium equivalent ounces per year over a 13 -year mine life at an
All-In Sustaining Cost of US$809 per palladium -equivalent ounce. For more in formation, please review
the detailed Feasibility Study dated March 25, 2021, filed under the Company’s profile at SEDAR.com.
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.
For further information please contact:
Jamie Levy
President and Chief Executive
Officer
(416) 640-2934 (O)
(416) 567-2440 (M)
Ann Wilkinson
Vice President, Investor Relations
(416) 640-3954 (O)
(416) 357-5511 (M)
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 vari ations 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 relating to the amount of capital and financing
required to execute the Company’s exploration, development and business plans related to the Marathon
Project; the mineral prices, production volumes and life of mine for the Marathon Project; and the financial
returns from the Marathon Project. All forward-looking statements, including those herein are qualified
by this cautionary statement.
Although the Company believes that the expectations expressed in such 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. There are certain factors that could cause actual results
to differ materially from those in the forward-looking information. These include commodity price volatility,
continued availability of capital and financing, uncertainties involved in interpreting geological data,
increases in costs, environmental compliance and changes in environmental legislation and regulation, the
Company’s relationships wi th First Nations communities, exploration successes, 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, 2021, and in the continuous disclosure documents filed by the
Company on SEDAR at www.sedar.com. 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.
Forward-looking statements are based on a number of assumptions which may prove to be incorrect,
including, but not limited to, assumptions relating to: the availability of financing for the Company’s
operations; the ability to secure the appropriate project financing, including project financing from EDC,
on terms and conditions mut ually acceptable to the parties; operating and capital costs; results of
operations; the mine development and production schedule and related costs; the supply and demand for,
and the level and volatility of commodity prices; timing of the receipt of regul atory and governmental
approvals for development Projects and other operations; the accuracy of Mineral Reserve and Mineral
Resource Estimates, production estimates and capital and operating cost estimates; and general business
and economic conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual
results or developments may differ materially from those projected in the forward-looking information. For
more information on the Company, investors are enc ouraged to review the Company’s public filings on
SEDAR at www.sedar.com. 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.