Generation Mining Announces Filing of Environmental Impact Statement - Seite 2

The Province of Ontario through its Critical Minerals Strategy (March 10, 2021) and Natural Resource Canada’s Critical Minerals List (March 29, 2021) adopted by the federal government, includes three of the top metals (palladium, copper, and platinum) being produced in the Project.  

Mr. Levy further notes, “with the Federal and Provincial governments recognizing the strategic importance of the metals being produced in the Project, we have a unique opportunity to develop a project that will contribute to Canada’s effort to lower greenhouse gases.”

The EIS Addendum, along with supporting technical reports and fieldwork, was prepared by a specialized team of experts that will support Gen Mining throughout the EA process including Stantec, a global engineering consulting firm which will lead the EA process; Knight-Piésold, to lead the tailing facility designs; EcoMetrix, to undertake geochemistry, aquatics, water quality modelling; and Northern BioScience to progress the monitoring of species at risk and terrestrial studies on the property.

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 NI 43-101 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).

For further information please contact:

Jamie Levy
President and Chief Executive Officer
[phone]
[phone]
[e-mail]

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 anticipated results of the EA and applicable timing thereof, and the ability of the Company and Sibanye Stillwater to vary their respective participating interests in the Marathon Project. All forward-looking statements, including those herein are qualified by this cautionary statement.