Generation Mining Limited (TSX: GENM) (“Gen Mining” or the “Company”) announces the appointment of Paul McRae and Jeremy Wyeth as Technical Advisors to support the development, construction, and future operation of the Company’s Marathon Copper-Palladium Project in Northwestern Ontario (the “Marathon Project”).
These appointments strengthen Generation Mining’s technical capacity as the Company advances the Marathon Project. Collectively, Mr. McRae and Mr. Wyeth bring extensive experience in large-scale mining project development, operational readiness, and performance optimization—critical capabilities for building a safe, efficient, long-life mining operation.
Paul McRae, B.A.Sc. Mining Engineer
Mr. McRae brings more than 40 years of technical, engineering, and construction management experience. He will provide governance discipline and strategic oversight across key development and technical workstreams for the Marathon Project.
He has delivered major mining projects on time and on budget across Canada, the United States, Australia, Spain, Chile, and Portugal, including leadership roles on De Beers’ Victor Mine and Lundin Mining’s Eagle Mine. Mr. McRae has served on multiple mining company boards and is currently a director of Westhaven Gold, EnviroGold Global, and NexGold.
Jeremy Wyeth B.A.Sc. Mining Engineer
Mr. Wyeth adds four decades of international experience in operations, project development, and executive leadership. As Operations Director at AMEC/Wood, he oversaw domestic and global projects during a period of significant growth.
He previously led the full development cycle of De Beers’ Victor Diamond Mine in Northern Ontario—from prefeasibility through construction, commissioning, and ramp-up—delivering the $1 billion project ahead of schedule and under budget. His recent work includes guiding two strategic acquisitions that expanded and diversified a major gold developer’s asset base.
“We are very pleased to welcome Paul and Jeremy as Technical Advisors to help advance the Marathon Project,” said Jamie Levy, President and CEO of Gen Mining. “Their collective experience in mine development, construction, and operations will be invaluable as we move the Marathon Copper-Palladium Project forward.”
The Marathon Project is one of the largest undeveloped copper-palladium deposits in North America and the Company anticipates it will be a significant future source of copper, palladium, and other critical metals essential to electrification and decarbonization.
About Generation Mining Limited
Generation Mining’s(TSX: GENM) focus is the development of the Marathon Project, a large undeveloped copper-palladium deposit in Northwestern Ontario. The Marathon Property covers a land package of approximately 36,398 hectares (364km2). Generation Mining is dedicated to fostering a greener future by promoting sustainability, empowering communities, and delivering value to our stakeholders.
The Feasibility Study (the “Technical Report”) with an effective date of November 1, 2024, estimated a Net Present Value (using a 6% discount rate) of C$1.07 billion, an Internal Rate of Return of 28%, and a 1.9-year payback based on the 3-yr trailing average metal prices at the effective date of the Technical Report. Over the anticipated 13-year mine life, the Marathon Project is expected to produce approximately: 2,161,000 ounces of palladium, 532 million lbs. of copper, 488,000 ounces of platinum, 160,000 ounces of gold and 3,051,000 ounces of silver in payable metals. These production estimates and economic projections are forward-looking statements subject to risks and uncertainties. For more information, please review the Feasibility Study filed under the Company’s profile at www.sedarplus.ca and available on the Company’s website at https://genmining.com/projects/feasibility-study/.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Daniel Janusauskas, P.Eng., Technical Services Manager of Generation PGM Inc., a wholly owned subsidiary of the Company, and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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 the Company’s 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 development, construction, and future operation of the Marathon Copper-Palladium Project; the Company’s anticipation that the Marathon Copper-Palladium Project will be a significant future source of copper, palladium, and other critical metals essential to electrification and decarbonization; the anticipated advancement of the Company’s Marathon Project; and the expected production estimates and economic projections from the Marathon Project.
Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include timing for a construction decision; the progress of development at the Marathon Project, including progress of project expenditures and contracting processes, the Company’s plans and expectations with respect to liquidity management, continued availability of capital and financing, the future prices of palladium, copper and other commodities, permitting timelines, exchange rates and currency fluctuations, increases in costs, requirements for additional capital, and the Company’s decisions with respect to capital allocation, inflation, global supply chain disruptions, global conflicts, the project schedule for the Marathon Project, key inputs, staffing and contractors, continued availability of capital and financing, uncertainties involved in interpreting geological data and the accuracy of mineral reserve and resource estimates, environmental compliance and changes in environmental legislation and regulation, the Company’s relationships with Indigenous communities, results from planned exploration and drilling activities, local access conditions for drilling, and general economic, market or business conditions, as well as those risk factors set out in the Company’s annual information form for the year ended December 31, 2024, and in the continuous disclosure documents filed by the Company on SEDAR+ at www.sedarplus.ca.
Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR+ at www.sedarplus.ca.
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Contact details:
For further information:
Jamie Levy
President and Chief Executive Officer
(416) 640-2934 (O)
(416) 567-2440 (M)
[email protected]
[email protected]
