Generation Mining Announces Additional High-Grade Results From Marathon Drilling - Seite 2

* True width approximates Down-hole length (m)
** The Palladium Equivalent (“PdEq”) calculation expressed in g/t is the sum of the theoretical in situ value of the constituent metals (Au + Pt + Pd + Cu) divided by the value of one gram of palladium. The calculation makes no provision for expected metal recoveries or smelter payables. USD per ounce commodity prices of $1,300, $900, $1275 were used, respectively, for Au, Pt and Pd and a $3/lb value was assigned for Cu.

Figure 1: Marathon Project ‐ Drill Location Map

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Figure 2: Marathon Project – Vertical Section 5404675 N

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Quality Assurance/Quality Control

Quality assurance and quality control (“QA/QC”) protocols for the 2020 drilling assay program were unchanged from previous years and involve a rotating inclusion of one duplicate, blank, low-grade standard and high-grade standard every 15 samples. All controls are checked to be within a working limit of 2 standard deviations. Sample intervals are selected in 1 m or 2 m lengths dependent on the nature of the mineralized zone. The core samples are split on site using a diamond saw where half of the core is sent for analysis and the other half is securely stored on site for future reference. All samples are shipped to ALS in Thunder Bay for processing.

About the Marathon Palladium Project

Generation Mining has begun a Feasibility Study on the Marathon Deposit, which is the largest undeveloped platinum group metal Mineral Resource in North America. The Marathon Property covers a land package of approximately 22,000 hectares or 220 square kilometres. Gen Mining acquired a 51% interest in the Marathon Property from Sibanye Stillwater on July 10^th, 2019. On November 30^th, 2020 Gen Mining announced it had acquired an additional 29% interest in the Project by completing a PEA and by spending $10 million of all joint venture expenditures within the 4-year Sole Funding Period. As a result, Gen Mining and Sibanye Stillwater will be required to fund future expenditures on a pro rata basis (80% funded by Gen Mining and 20% by Sibanye) in order to maintain their respective interests in the Project, subject to standard dilution provisions. Upon completion of the feasibility study and a positive production decision, Sibanye Stillwater has certain back-in rights that can bring its interest in the property back to 51% (see the company's press release of July 11, 2019, for more details).