Generation Mining Announces Federal and Provincial Approval of the Marathon Project Environmental Assessment - Seite 2

“We would like to thank Biigtigong Nishnaabeg and the Town of Marathon for their support, along with the representatives of other regional municipalities and Indigenous communities, the public, the responsible federal and provincial government agencies, and our team of employees and advisors for their significant contributions to the Joint Review Panel Environmental Assessment process. We are extremely proud to be the first mine in Ontario to be approved through this process. Receipt of the Decision Statement and Approval Order enables us to apply for the permits necessary for the construction and operation of the Marathon Project.”

The Decision Statement and Approval Order were made following a thorough, multi-year, joint federal and provincial environmental assessment process, with input received from Indigenous groups, the public, federal government departments including the Ministry of Environment Canada and Climate Change, Fisheries and Oceans Canada, Natural Resources Canada and Transport Canada, and provincial government departments including Ministry of Northern Development, Mines, Natural Resources and Forestry, the Ministry of Environment, Conservation and Parks, the Ministry of Transportation, the Ministry of Labour, and the Technical Standards and Safety Authority.

Gen Mining continues to work on de-risking and optimizing the Marathon Project, making significant progress on detailed engineering and financing. The Decision Statement and Approval Order included conditions on such matters as ongoing consultation, follow-up programs, reporting, information sharing, fish and fish habitat, migratory birds, wildlife, greenhouse gas emissions, health and socio-economic conditions of Indigenous peoples, the current use of lands and resources for traditional purposes, and reclamation, amongst other things. The Company is reviewing the conditions in the Decision Statement and Approval Order to determine any impacts on the project schedule. The Company will continue to work expeditiously to satisfy any pre-construction condition(s) and ensure compliance with all of the conditions needed to advance construction and operations in a timely manner, as it progresses towards a final investment decision.