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Generation Mining Acquires Option On Construction Camp In Marathon

Generation Mining Limited announces that its wholly-owned subsidiary, Generation PGM Inc. (“Gen PGM”), which is developing the Marathon Palladium Copper Project near Marathon, Ontario, has entered into an agreement with Valard Equipment LP for the lease of a construction camp located in Marathon, Ontario until June 30, 2023 and an option, exercisable at Gen PGM’s discretion, to purchase the Camp on or before the end of the Lease Term. In connection with this agreement, Gen PGM has also leased the existing serviced camp site from the Town of Marathon.

The Camp will be used to accommodate up to 263 workers for the initial site preparation phase through the construction phase. Additional accommodation capacity will be secured for the Marathon Project as construction ramps up to the maximum peak of approximately 1000 workers. Previously, the Camp was used to accommodate the workforce for a Transmission Line Project and has all the required infrastructure services, including a commercial kitchen, a recreation facility, a maintenance facility, and management offices. The Biigtigong Nishnaabeg First Nation community will operate and service the Camp as part of Gen PGM’s commitments under the Memorandum of Agreement with Biigtigong Nishnaabeg, previously announced on January 27, 2022.

Jamie Levy, President and Chief Executive Officer of Gen Mining stated, “This is the first of a number of steps we are taking this summer to advance the Marathon Project readiness, thus saving us time, in anticipation of initial site preparation and construction, which we expect to commence following receipt of required permits and financing.”

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