Generation Mining and Biigtigong Nishnaabeg First Nation Announce Agreement in Principle
TORONTO, April 01, 2021 (GLOBE NEWSWIRE) -- Generation Mining Limited (TSX: GENM) (OTCQB: GENMF) (“Gen Mining” or the “Company”) and Biigtigong Nishnaabeg (“BN”) are proud to announce the signing
of an Agreement in Principle (“the Agreement”) for the Marathon Palladium Copper Project ("Marathon Project") located in Northwestern Ontario.
BN has been an integral part of the environmental assessment process and Marathon Project planning. Formalizing the long-term relationship with an Agreement in Principle signals the community leadership’s support, in principle, for the Marathon Project and the Company’s commitment to provide community benefits including training, jobs, business opportunities and financial participation. The Agreement outlines the framework for a Community Benefit Agreement (CBA).
“Our people have been on this land since time immemorial and the project is located on our exclusive unceded ancestral lands. We are proud to work together with Gen Mining to work towards a Community Benefit Agreement that our community members are comfortable with, and to ensure that the cultural values and the environment, including the fish, plants and wildlife that are integral to our way of life, are protected,” said Chief Duncan Michano of BN.
Jamie Levy, President and CEO of Gen Mining, commented, “Gen Mining respects the Indigenous culture and the environment where we work and plan to operate. We are proud to be partners with BN and look forward to ongoing collaboration in the years to come.”
About the Company
Gen Mining’s focus is the development of the Marathon Project, the largest undeveloped platinum group metal Mineral Resource in North America. The Company released the results of the Feasibility Study on March 3, 2021 and published the NI43-101 Technical Report dated March 23, 2021. The Marathon property covers a land package of approximately 22,000 hectares, or 220 square kilometres. Gen Mining owns an 80.7% interest in the Marathon Project, with the remaining interest owned by Sibanye Stillwater. Sibanye Stillwater has certain back-in rights that allow it to increase its interest in the Marathon Project back up to 51% in certain circumstances and subject to certain conditions after such time as Gen Mining has earned its 80% interest (see the Company’s news release of July 11, 2019 for more details).