Generation Mining Makes Key Appointments and Updates Environmental Assessment and Permitting Processes
Generation Mining Makes Key
Appointments and Updates Environmental
Assessment and Permitting Processes
Toronto, Ontario – October 4, 2021 – Generation Mining Limited (TSX: GENM ; OTCQB:
GENMF) (“Gen Mining” or the “Company”) is pleased to announce the hiring of Jeremy Dart as
Environmental Manager and Cathryn Moffett as Manager of Community Consultation , and the
engagement of Wood Canada Limited (“Wood”) to assist in the permitting process.
Jeremy Dart was employed by Barrick Gold for the past 21 years mainly at the Hemlo gold mine.
Based in Marathon, Ontario, his most recent title was Environment and Closure Superintendent.
He has extensive experience in mining, environmental and closure management, watershed
management, project management, permitting and approvals , and community relations. Mr. Dart
recently developed and implemented an environmental management system to ISO 14001 :2015
standard. Other accomplishments includ e the closure and rehabilitation of the David Bell Mine .
He has also contributed to the public consultation on mine expansion plans and closure plan
requirements and negotiated and implemented First Nation Agreements.
Prior to joining Gen Mining, Cathryn Moffett was the Director of Sustainability for Detour Gold
Corporation. Ms . Moffett holds a Bachelor of Science degree in environmental sciences with a
focus on sustainable development. She began her career working on environmental assessments in
the oil sands at Golder’s Calgary office and has authored several corporate Sustainable
Development reports, sat at many negotiation tables and led environmental permitting for both
green field and brown field mining projects. Her work at the Company will focus on maintaining
community relationships, sharing plain language information and leading community focussed
projects. She is exceptionally capable in developing strong relationships through respect and
communication and looks forward to building the Company’s first Sustainable Development
Report in 2022.
Gen Mining has engaged Wood Environment and Infrastructure Solutions to support the
preparation of its Closure Plan under Ontario Regulation 240/00, the application for an
Environmental Compliance Approval for Industry Sewage Works pursuant to the Environmental
Protection Act and federal permits as required under Section 35/Section 2 of the Fisheries Act for
the Marathon Project in northwestern Ontario. These are the key permits that will be needed to
allow for the start of mine construction. This work is progressing in parallel to the environmental
assessment (“EA”) process. Some recent examples of Wood's experience and success in this field
include the permitting of several of the largest and most significant mining projects in Ontario,
including the Côté Gold Project, Magino Gold Project, Goliath Project, Rainy River Gold M ine
and the Detour Lake Mine.
Jamie Levy, President and CEO commented: “We are extremely happy to have the strength and
depth of experience of Cathryn and Jeremy on the team. With the addition of Wood to the existing
EA team of Stantec, Ecometrix, Knight-Piesold and Northern Bioscience, we are extremely well
placed to complete the EA, progress the permitting and to prepare for the start of construction in
2022.”
The EA process is continuing with information requests (“IR”) coming from the Joint Review
Panel (“JRP”). There have been seven IR packages issued by the JRP since the Company
submitted the amended EIS document (April 2021). The JRP has also recently issued a public
notice regarding the draft Public Hearing Procedures which outline the procedures which include
the “strong likelihood for virtual sessions using video communication tools”.
About the Company
Gen Mining’s focus is the development of the Marathon Project, a large undeveloped platinum
group metal mineral deposit in northwestern Ontario. The Company released the results of the
Feasibility Study on March 3, 2021 and published the NI 43-101 Technical Report dated March
25, 2021. The Marathon property covers a land package of approximately 220 square k ilometres.
Gen Mining currently owns an 82.6% interest in the Marathon Project, with the remaining interest
owned by Sibanye-Stillwater.
The Feasibility Study 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. 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 information, please review the detailed Feasibility Study dated March 25, 2021,
filed under the Company’s profile at SEDAR.com.
Qualified Person
Drew Anwyll , P. Eng., M.Eng ., Chief Operating Officer of the Company, has reviewed and
approved the scientific and technical information contained in this news release. Mr. Anwyll is a
Qualified Person for the purposes of N ational Instrument 43 -101 Standards of Disclosure for
Mineral Projects.
For further information please contact:
Jamie Levy
President and Chief Executive Officer
(416) 640-2934
(416) 567-2440
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 EA and permitting processes, advancing the Marathon Project to bring the project into production, and any future
exploration. 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 with 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, 2 020, 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; 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 regulatory and governmental
approvals for development projects and other operations; the accuracy of Mineral Reserve and Mi neral 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 encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The
Company disclaims any intention or obliga tion 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.