TORONTO, June 19, 2020 (GLOBE NEWSWIRE) -- Generation Mining Limited (CSE:GENM) (“Gen Mining”, “Generation”, or the “Company”) would like to invite interested shareholders and the general public to join Kerry Knoll, Executive Chairman, Jamie Levy, President and CEO, Rod Thomas, Vice President Exploration, John McBride, Senior Exploration Geologist and Phil Walford, Lead Geological Director for a webinar detailing the Company’s approach to exploration on the property going forward. Gen Mining’s exploration efforts are currently focused on the discovery of massive sulphide PGE-Cu mineralization within feeder zone conduits responsible for disseminated PGE-Cu at the Marathon and Sally deposits in addition to completing concurrent feasibility studies to determine the economic viability of the near surface Marathon Palladium-Copper deposit.
The Company is well financed for the next phases of work, including the upcoming feasibility study and the restart of the permitting process at the Marathon Palladium Project, with approximately $13.9 million in cash.
The Generation Mining webinar will take place on Monday, June 22 at 12pm ET/9:00am PT. Management will be available to answer written questions following the presentation. Online registration and participation details may be found at the following link: https://my.6ix.com/1weXS2tC
About the Marathon Palladium Project
The Marathon Deposit 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 10, 2019 and can increase its interest to 80 per cent 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 per cent after such time as Gen Mining has earned its 80-per-cent interest (see the Company's press release of July 11, 2019, for more details).
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President and Chief Executive
This 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.