Generation Mining Expands its Land Package at the Marathon District
Generation Mining Expands its Land Package at the Marathon District
TORONTO--(BUSINESS WIRE)--December 9, 2025--Generation Mining Limited
(TSX:GENM, OTCQB: GENMF) (“Gen Mining” or the “Company”) is pleased to announce the
acquisition of 451 contiguous mining claims to its current land package in Marathon, Ontario
(the “Marathon District”). The Marathon District, which includes the Marathon Copper-
Palladium Project, now represents a land package of 1,617 claims and 47 mining leases. This
represents an increase from an area of 26,814 hectares (268 km2) to 36,398 hectares (364 km2),
or an increase of approximately 36%.
The acquisition further enhances the Company’s regional exploration footprint and the
opportunity to advance the geological understanding of the Marathon District.
The new claims were acquired through two separate agreements with a local prospector group
(the “Vendor”). The details of the agreements, geological potential, and location are described in
further detail below.
Jamie Levy, President and CEO states “Growing our land package by approximately 36%
strengthens our strategic land position and opens new targets for potential discoveries near the
Marathon Deposit - crucial at a time when the world is increasingly focused on securing critical
metals.”
Martinet Agreement
Gen Mining has acquired 236 claims, comprising approximately 5,011.5 hectares, located along
the northern margin of current exploration activities (the “Martinet Claims”). Under the terms of
the agreement, the Company will make an initial payment of $100,000, followed by three
subsequent payments of $100,000 over the next three years. The Vendor retains a 2% net smelter
return royalty ("NSR"), of which Gen Mining has the right to purchase 1% of the NSR for
$500,000 at any time.
Recent exploration activities on the northern margin of the Marathon District, or Coldwell
Complex, have identified Coldwell-related intrusions beyond the established Archean country
rock contact. The newly acquired Martinet Claims includes historic drilling of two shallow drill
holes completed in 1990 conducted by Noranda, which are proximal to major fault systems that
radiate outwards from the Coldwell Complex into the surrounding country rock.
Foxtrap and South River Agreement
The Company also acquired a combined 215 claims consisting of approximately 2,974.4 hectares
(Foxtrap - 140 claims) (the “Foxtrap Claims”) and 1,597.7 hectares (South River – 75 claims).
Under the terms of the agreement, the Company will make an initial payment of $50,000,
followed by three subsequent payments of $50,000 over the next three years. The Vendor retains
a 2% NSR, of which Gen Mining has the right to repurchase 1% of the NSR for $500,000 at any
time.
The Foxtrap Claims, situated on the western margin of the Marathon District, or Coldwell
Complex, have no record of prior exploration, however this area is considered prospective. The
Eastern Gabbro Suite, host to the mineralized Marathon Series rocks, is known to utilize the
Archean contact for its intrusion, and although not currently mapped at surface, similar gabbroic
units are present along the western rim, as indicated by extensions of Layered Series hanging-
wall gabbroic rock. Gen Mining is committed to advancing exploration at established prospects
within the Coldwell Complex, as well as innovating exploration strategies with new
opportunities.
See attached Figure 1: Generation Mining's Property Map
Qualified Person
The scientific and technical content of this news release was reviewed and approved by Chanelle
Boucher, P. Geo, Senior Geologist of Generation PGM Inc., a wholly owned subsidiary of the
Company, and a Qualified Person as defined by Canadian Securities Administrators’ National
Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About the Company
Generation Mining's focus is the development of the Marathon Project, a large undeveloped
copper-palladium deposit in Northwestern Ontario. The Marathon Property covers a land
package of approximately 36,398 hectares (364 km2). Gen Mining is dedicated to fostering a
greener future by promoting sustainability, empowering communities, and delivering value to
our stakeholders.
The Feasibility Study (the "Technical Report") estimated a Net Present Value (using a 6%
discount rate) of C$1.07 billion, an Internal Rate of Return of 28%, and a 1.9-year payback based
on the 3-yr trailing average metal prices at the effective date of the Technical Report. Over the
anticipated 13-year mine life, the Marathon Project is expected to produce 2,161,000 ounces of
palladium, 532 million lbs. of copper, 488,000 ounces of platinum, 160,000 ounces of gold and
3,051,000 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/.
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 relating to the proposed use of proceeds from the Offering,
receipt of all final regulatory approvals in connection with the Offering; the anticipated
advancement of the Marathon Project; and future development plans.
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. There are certain factors that could cause actual results to differ materially from
those in the forward-looking information. These include continued exploration and potential
discoveries in the Martinet Claims, Foxtrap Claims and South River Claims; 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, 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, 2024, and in the continuous disclosure documents filed by the
Company on SEDAR+ at https://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 https://www.sedarplus.ca.
Contacts
For further information, please contact:
Jamie Levy President and Chief Executive Officer
(416) 640-2934 (O)
(416) 567-2440 (M)