Generation Mining Limited announced positive results on the updated Feasibility Study ("2023 FS" or the "Feasibility Study") for the Marathon Palladium-Copper Project (the "Project") located near the Town of Marathon in Northwestern Ontario. The 2023 FS presents an optimized design for the Project with improved clarity on anticipated capital and operating costs in the current inflationary environment. The 2023 FS outlines the operation of an open pit mine and process plant over a mine life of 12.5 years and replaces the Company's March 2021 Feasibility Study (the "2021 FS").

All dollar amounts are in Canadian dollars unless otherwise stated. All references to Mlbs are to millions of ounces and Moz are to millions of ounces and koz are to thousands of ounces. Highlights: Robust economics: An after-tax Net Present Value ("NPV") at a 6% discount rate of CAD 1.16 billion and Internal Rate of Return ("IRR") of 25.8% based on a long-term price of USD 1,800/oz for palladium and USD 3.70/lb for copper.

Quick payback period on Initial Capital2,3: 2.3 years. Initial Capital: CAD 1,112 million (CAD 898 million net of equipment financing and pre-commercial production revenue), an increase of 25% from the 2021 FS. Low Operating Costs and attractive AISC:Life of mine ("LOM") average operating costs of USD 7709/PdEq oz and all-in sustaining costs ("AISC") of USD 813/PdEq oz.

Operating costs have increased 14% compared with the 2021 FS. Increased Mineral Reserve Estimate: an increase of 8.5% in Mineral Reserves tonnages and a decreased open pit strip ratio. Optimized operation: increased process plant throughput and improved metallurgical recoveries over LOM.

Average annual payable metals: 166 koz palladium, 41 Mlbs copper, 38 koz platinum, 12 koz gold and 248 koz silver. LOM payable metals: 2.1 Moz palladium, 517 Mlbs copper, 485 koz platinum, 158 koz gold and 3.2 Moz silver.