DDH M 07-405 Az 95.0 deg./Dip -76.0 deg. True Thickness 82 m Assays by Accurassay
DDH M 19-533 Az 91.9 deg/Dip -64.2 deg. True Thickness 62 m Assays by ALS GlobalPalladium Equivalent Calculation: PdEq = [(Au ppm*USD 41.79594) + (Pt ppm*USD 28.93565) + (Pd ppm*USD 40.1884) + ((Cu%/100*2204.62) *3)]/40.1884PdEq Formula Data:1 tonne = 2204.62 lbs, 1 troy ounce = 31.1035 grams, 1 oz Au = USD 1300, 1 oz Pt = USD 900, 1 oz Pd = USD 1250, 1 lb Cu = USD 3.00, 1 gm Au = USD 41.79594, 1 gm Pt = 28.93565,
1 gm Pd = USD 40.1884The Company is well financed for the next phases of work, including the feasibility study and the restart of the permitting process, both of which are underway at the Marathon Palladium Copper Project, with approximately $13.5 million in cash.About the Marathon Palladium ProjectGeneration Mining has begun a Feasibility Study on the Marathon Deposit, which is the largest undeveloped platinum group metal Mineral Resource in North America. The Marathon Property covers a land package of approximately 22,000 hectares or 220 square kilometres. Gen Mining acquired a 51% interest in the Marathon Property from Sibanye Stillwater on July 10th, 2019 and can increase its interest to 80% by spending $10 million over a period of four years. As of Q1, 2020, approximately $4 million of the $10 million has already been spent. Sibanye Stillwater has certain back-in rights that can bring its interest in the Property back to 51% after such time Gen Mining has earned its 80% interest (see the Company’s press release of July 11th, 2019, for more details).Qualified PersonRod Thomas, P.Geo., Company Vice-President, Exploration and a Director has reviewed and approved the scientific and technical information contained in this news release. Mr. Thomas is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects.For further information please contact:Jamie Levy
President and Chief Executive
Officer
(416) 640-2934
(416) 567-2440
jlevy@genmining.comForward-Looking InformationThis news release includes certain information that may be deemed “forward-looking information” under applicable securities laws. All statements in this release, other than statements of historical facts, that address acquisition of the Property and future work thereon, Mineral Resource and Reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed in such 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 the results of the Company’s due diligence investigations, market prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions.Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings at www.sedar.com. 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.
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