Generation Mining Welcomes TWO New Directors, Announces Results of Annual Shareholder Meeting
GENERATION MINING WELCOMES TWO NEW
DIRECTORS, ANNOUNCES RESULTS OF ANNUAL
SHAREHOLDER MEETING
Toronto, Ontario – July 16, 2019 – Generation Mining Limited (CSE:GENM) (the “Company” or
“Gen Mining”) is pleased to announce that at its annual shareholder meeting on July 11, 2019 (the
“Meeting”) shareholders voted over 99% in favour of all resolutions presented to the meeting, which
included the election of the directors, the appointment of the Company’s auditors, and the approval
of the Company’s stock option plan . At the Meeting shareholders elected each of the incumbent
directors of the Company, in addition to new management nominee Paul Murphy, FCPA.
Mr. Murphy has been the chairman of Alamos Gold Inc. since 2014, and is also a director of
Continental Gold Inc., where he also serves as chair of the audit committee. From 2010 to 2018, Mr.
Murphy was the Chief Financial Officer of Guyana Goldfields, as that company transitioned from
explorer to gold producer, raising $350 million in the process. Previous to that Mr. Murphy spent
nearly 30 years with PricewaterhouseCoopers LLP, where he was a partner and National Mining
Leader. He obtained a Bachelor of Commerce from Queen’s University and was elected Fellow of
the Chartered Professional Accountants of Ontario in 2016.
The Company is also pleased to announce that subsequent to the Meeting, the board has appointed
Phillip Walford, P. Geo, as an additional director.
Mr. Walford is the Presi dent and Chief Executive Officer of Marathon Gold Corporation, which is
developing a gold project in Newfoundland. Previously, he was a founder and president of Marathon
PGM Corporation, at the time when that company owned Generation Mining’s recently acqu ired
Marathon palladium project in Ontario. He guided Marathon PGM through advanced exploration
until it was taken over by Stillwater Mining Company in 2010 for $US118 million. Mr. Walford
previously held senior management positions at Geomaque Explorations, Pamour Porcupine Mines
Ltd., Lac Minerals Ltd. and Hudson Bay Exploration and Development and has extensive
international experience in gold and base metal deposits. Mr. Walford graduated as a geologist from
Lakehead University.
With Mr. Walford’s appointment, the Company has increased the size of its board to seven directors
(four of such directors being independent within the meaning of National Instrument 52 -110) as
follows:
Jamie Levy (President, Chief Executive Officer, Director)
Kerry Knoll (Chairman of the Board)
Rod Thomas (VP – Exploration, Director)
Stephen Reford (Independent Director)
Brian Jennings (Independent Director)
Paul Murphy (Independent Director)
Phillip Walford (Independent Director).
“We are delighted to have been able to bolster our board with these two significant additions in
Messrs Murphy and Walford. Mr. Murphy brings a wealth of experience with public company
governance and financial reporting, while Mr. Walfo rd has an intimate knowledge of our newly
acquired Marathon palladium project,” commented Jamie Levy, the Company’s President and Chief
Executive Officer. “We feel very fortunate that they’ve agreed to join our team at this exciting stage.”
The Company’s board of directors also approved the grant of incentive stock options to certain
directors, officers , key employees and consultants to purchase up to an aggregate of 3,700,000
common shares in the capital stock of the Company. Grants are subject to a five -year term at an
exercise price of $0.30 per share.
About Generation Mining Limited
Generation Mining Limited is a base metal exploration and development company with various
property interests throughout Canada. Its primary business objective is to explore and further develop
these properties, and to continue to increase its portfolio of base and precious metal property assets
through acquisition. The Company’s common shares trade on the Canadian Securities Exchange
(“CSE”) under the symbol GENM.
For further information please contact:
Jamie Levy
President and Chief Executive
Officer
(416) 640-2934
(416) 567-2440
Forward-Looking Information
This news release includes certain information that may be deemed “forward -looking information” under applicable
securities laws. All statements in this release, other than statements of historical facts, that address future work on the
Company’s properties, mineral resource and reserve pot ential, exploration activities and events or developments that
the Company expects is forward -looking information. Although the Company believes 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 the results of the
Company’s due diligence investigations, market prices, exploration successes, continued availability of capital and
financing, and general economic, market or business 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 publ ic filings 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.