Generation Mining Announces High Grade Results From W Horizon Drilling

92 metres grading 1.41 g/t Palladium Equivalent including 6 metres grading 2.92 g/t Pd, 1.29 g/t Pt, 0.36 g/t Au & 0.48% Cu

TORONTO, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Generation Mining Limited (TSX:GENM) (OTCQB: GENMF) (“Gen Mining” or the “Company”) is pleased to announce additional results from its 12 hole - 5,068 meter exploration drill program focused on the down-dip western extension of the W Horizon portion of the Marathon Palladium Deposit which is currently the subject of a Feasibility Study.

The drill program was designed to test the potential for near surface, ramp accessible mineralization. Results from the first four holes of the program were released on October 29^th, 2020. Hole M-20-547 intersected multiple mineralized intervals down dip from the Marathon Palladium Deposit and within the heart of the deposit’s feeder zone bounded by the 4900 N and 4500 N faults. Assay results are shown in Table 1 and a plan view of drill collar locations and 2020 drill program results are included in Figure 1. Section 5404725 N has been updated to include results for hole M-20-547 and is shown in Figure 2.

Table 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0319506e-dc7d-4a55 ...

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/06232101-6acb-48f9 ...

Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4ecbf315-1fcd-4ffa ...

In Hole M-20-547 the 4 m interval of 1.44 g/t palladium equivalent (“PdEq”) from 58 m to 62 m down hole corresponds to a unit of oxide melatroctolite (a magnetite bearing olivine rich rock).   The 26 m interval intersected in hole M 20-547 corresponds to W Horizon mineralization including a 6 m interval grading 2.35 g/t PdEq. The 92 m thick mineralized unit from 338 m to 430 m grades 1.41 g/t PdEq and includes W Horizon mineralization at the top of the unit from 338 m to 344 m which assayed 4.97 g/t PdEq. Both W Horizon intervals contain visible bornite (a copper sulfide) which is usually a visual indicator of elevated palladium grades.

Results for Hole M-20-542 are similar to Hole M-20-547 and included a near surface 2 m interval of melatroctolite grading 2.28 g/t PdEq and a broad zone of W Horizon mineralization from 282 m to 314 m including a 14 m interval from 282 m to 296 m which returned 2.12 g/t PdEq.

The W Horizon is recognized in the scientific literature as a zone of extreme Pd enrichment substantiating the significance of results from holes M-20-547 and M-20-542. These results confirm the downdip potential for Pd grades of the same magnitude as those intersected up dip (see Figure 2) in holes M-08-423 (2.2 g/t Pd over 12 m), M-07-391 (3.3 g/t Pd over 10 m) and M-08-424 (3.3 g/t Pd over 2 m) previously drilled in 2006 – 2008.