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Generation Mining reports W-Horizon successful drill results

May 10, 2021

Generation Mining Limited has announced results from the winter drill program of targets immediately adjacent to the Marathon palladium-copper deposit in Northwestern Ontario. The company recently completed a positive feasibility study (see March 3rd, 2021 news release) which contemplates the development of an open-pit mining operation with robust project economics over a 13-year mine-life. Current exploration activities are focused on evaluating the potential for high grade, ramp accessible resources which could, in the future, potentially extend the life of the proposed operation.

Results from the first few holes are very encouraging. The 3,000 m winter program was cut short to 2,000 m due to early spring conditions, however, four holes were drilled and three were fully completed. Results from the three holes completed over the western extension of the W-Horizon are provided in Table 1. Figure 1 is a location map of the Central Feeder Zone area at the western margin of the Marathon Palladium Deposit showing the location of the three 2021 winter drill holes and the location of section 5404700N. Figure 2 is a cross section at 5404700N and Figure 3 is a schematic 3D vertical section (or long section view) looking east and parallel to the plane of the cross section. In all instances drill intercept lengths approximate true widths.

Highlights include three high grade intercepts consisting of 3.19 g/t Pd over 4 m in Hole 553 from 470 m to 474 m, 4.3 g/t Pd over 4 m in Hole 554 from 410 m to 414 m and, also in Hole 554, 3.06 g/t Pd over 4 m from 450 m to 454 m. These intercepts sit within a broad zone of mineralization at least 100 m wide and approximately 50 to 100 metres thick and some 300 m down dip from the western margins of the Marathon Deposit.

Gen Mining intends to start its summer drilling program on or about May 15th, 2021. The initial phase of the summer program will test two off-hole electromagnetic conductors as shown in Figure 4 which may be in response to massive sulphide accumulations on the floor of the Central Feeder Zone. These conductors are located approximately 50 to 120 metres east and up-dip from the mineralized intercepts in the recently drilled holes shown in Figures 2 and 3. These conductors may be of the same origin as the 16-metre interval of net textured to massive sulphides intersected in hole M-20-543 (see news release of October 29th, 2020).  

The Company plans to increase the size of it summer drill program to approximately 8,000 metres and is currently developing targets and collar locations. Further announcements to follow.

Gen Mining’s CEO Jamie Levy stated, “We continue to have a great deal of success by drilling step out holes along the feeder zone corridor. We are very excited to hit high grade down dip from the Marathon Deposit and we are beginning to see the potential to define resources in this area.”

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