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TORONTO — Generation Mining Limited (TSX:GENM) (OTCQB: GENMF) (“Generation Mining” or the “Company”) is pleased to announce that Clinton Swemmer, P.Eng, has joined the Company as Vice-President, Projects.
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Mr. Swemmer is a highly accomplished engineering and project delivery executive with more than 25 years of experience across the mining and metals sector, making high-level contributions to more than 40 projects across Africa, Asia and the Americas. He has also held senior leadership positions with top-tier mining companies and global engineering consultancies, including Wood (Canada), Ausenco and DRA where he operated under both EPCM and EPC frameworks. While at DRA in Africa, Clinton worked on several large PGM projects including processing plants at Ngezi Mine and Mimosa mine in Zimbabwe and on Two Rivers and Everest South in South Africa. Whilst at LionOre (purchased by Norilsk Nickel) he was involved with both Phoenix Mine, a Copper Nickel cobalt PGM mine and Nkomati Mine, a Copper Nickel Cobalt PGM chrome mine.
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His expertise spans the entire project lifecycle—from early-stage scoping, permitting, and feasibility studies to detailed engineering, construction, and operational handover, where his strengths were creative improvements and timely execution. Mr. Swemmer has successfully led multi-disciplinary teams on projects exceeding $3 billion in capital value, across a diverse range of commodities both in Canada and globally.
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Jamie Levy, President & CEO of Generation Mining, stated, “We are extremely pleased to welcome Clinton to the Generation Mining team. His initial focus will be on developing a project execution plan, advanced planning for detailed engineering, and supporting the project financing team. Clinton will also start planning for the build out of a full construction owners team using his vast network of industry connections.” Clinton holds a First-Class Honours degree in Civil Engineering from the University of Hertfordshire, is a licensed Professional Engineer (P. Eng.) in Ontario, and an active Project Management Professional (PMP) with the Project Management Institute.
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About the Company
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Generation Mining’s focus is the development of the Marathon Project, a large undeveloped copper-palladium deposit in Northwestern Ontario. The Marathon Property covers a land package of approximately 26,000 hectares, or 260 square kilometers. Generation Mining is dedicated to fostering a greener future by promoting sustainability, empowering communities, and delivering value to our stakeholders.
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The Feasibility Study (the “Technical Report”) estimated a Net Present Value (using a 6% discount rate) of C$1.07 billion, an Internal Rate of Return of 28%, and a 1.9-year payback based on the 3-yr trailing average metal prices at the effective date of the Technical Report. Over the anticipated 13-year mine life, the Marathon Project is expected to produce 2,161,000 ounces of palladium, 532 million lbs of copper, 488,000 ounces of platinum, 160,000 ounces of gold and 3,051,000 ounces of silver in payable metals. For more information, please review the Feasibility Study filed under the Company’s profile at www.sedarplus.ca or on the Company’s website at https://genmining.com/projects/feasibility-study/.
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Qualified Person
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The scientific and technical content of this news release has been reviewed and approved by Daniel Janusauskas, P.Eng., Technical Services Manager of Generation PGM Inc., a wholly owned subsidiary of the Company, and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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Forward-Looking Information
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This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements)”. Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved, including statements relating to the
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including statements relating to projected capital and operating costs (including the AISC); the timing and volume of payable metal production and revenues; and the economic analysis and results (including NPVs and payback periods).
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Although the Company believes that the expectations expressed in such forward-looking 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 timing for a construction decision; the progress of development at the Marathon Project, including progress of project expenditures and contracting processes, the Company’s plans and expectations with respect to liquidity management, continued availability of capital and financing, the future prices of palladium, copper and other commodities, permitting timelines, exchange rates and currency fluctuations, increases in costs, requirements for additional capital, and the Company’s decisions with respect to capital allocation, inflation, global supply chain disruptions, global conflicts, including the wars in Ukraine and Israel, the project schedule for the Marathon Project, key inputs, staffing and contractors, continued availability of capital and financing, uncertainties involved in interpreting geological data and the accuracy of mineral reserve and resource estimates, environmental compliance and changes in environmental legislation and regulation, the Company’s relationships with Indigenous communities, results from planned exploration and drilling activities, local access conditions for drilling, and general economic, market or business conditions, as well as those risk factors set out in the Company’s annual information form for the year ended December 31, 2024, and in the continuous disclosure documents filed by the Company on SEDAR+ at