Generation Mining Secures $750,000 Strategic Investment from Biigtigong Nishnaabeg
Generation Mining Secures $750,000 Strategic Investment from Biigtigong Nishnaabeg
TORONTO--(BUSINESS WIRE)--February 10, 2026--Generation Mining Ltd. (TSX: GENM) (OTCQB:
GENMF) ("Generation Mining" or the "Company") is pleased to announce that Biigtigong Nishnaabeg First
Nation (“BN”) acquired 1,041,666 units (the “Units”) of the Company at a price of $0.72 per Unit for gross
proceeds of approximately $750,000 (the “Private Placement”), on identical terms to the Company’s most recent
bought deal financing that closed on January 15, 2026.
Chief Duncan Michano of the Biigtigong Nishnaabeg stated “Our relationship with Generation Mining has been
ongoing for many years. This investment demonstrates our continued commitment to seeing this mine become a
reality and solidifies our active participation in economic opportunities within the region.”
Jamie Levy, President & CEO of Generation Mining, stated “We are pleased to welcome Biigtigong Nishnaabeg
as strategic investors in Generation Mining. This partnership demonstrates the strength of our relationships and
our shared commitment to building a vital critical minerals mine in Northwestern Ontario. Chief Michano and
the entire Council recognize the positive impact our project will have on their community and on surrounding
communities, including Marathon, Ontario.”
On November 14, 2022, BN approved a Community Benefits Agreement (“CBA”) in respect of the Marathon
Copper Palladium Project (the “Project”) owned by the Company’s wholly-owned subsidiary, Generation PGM
Inc. (“Generation PGM”). The CBA between Generation PGM and BN, which was ratified through a BN
membership vote on November 12, 2022, describes the benefits the BN community will receive from the Project
and details how the Project’s impacts on the community will be mitigated. It includes commitments from the
Company regarding environmental management, employment, training and education, business opportunities,
social and cultural support, and financial participation.
Each Unit was comprised of one common share of the Company (“Common Share”) and one-half of one
Common Share purchase warrant, with each whole warrant entitling BN to acquire one Common Shares at a
price of $1.00 for a period of 24 months from the date hereof.
The net proceeds from the Offering are expected to be used by the Company to advance the development of the
Company's Marathon Project.
About Generation Mining
Generation Mining’s (TSX: GENM) 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 (364km2). Generation 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”) with an effective date of November 1, 2024, 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 approximately: 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. These production estimates and economic projections are forward-looking
statements subject to risks and uncertainties. For more information, please review the Feasibility Study filed
under the Company’s profile at www.sedarplus.ca and available on the Company’s website at
https://genmining.com/projects/feasibility-study/.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Daniel Janusauskas,
P.Eng., Technical Services Manager of Generation PGM, and a Qualified Person as defined under 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 relating to the proposed use of proceeds of the Private Placement, receipt of all regulatory
approvals related to the Private Placement, and the anticipated advancement of the Company's 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. There are certain factors that could cause
actual results to differ materially from those in the forward-looking information. These include the timing of the
Offering and regulatory approval of the Offering; 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, inflation, global supply chain disruptions, global conflicts, 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 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.
Contacts
Jamie Levy
President and Chief Executive Officer
(416) 640-2934 (O)
(416) 567-2440 (M)