Generation Mining receives $750,000 investment from Biigtigong Nishnaabeg

Generation Mining Ltd. (TSX: GENM) announced that Biigtigong Nishnaabeg First Nation acquired 1,041,666 units of the company at $0.72 per unit for gross proceeds of approximately $750,000, according to a press release statement.

The private placement occurred on identical terms to Generation Mining's bought deal financing that closed on January 15, 2026. Each unit comprised one common share and one-half of one common share purchase warrant, with each whole warrant allowing the purchase of one common share at $1.00 for 24 months.

"Our relationship with Generation Mining has been ongoing for many years. This investment demonstrates our continued commitment to seeing this mine become a reality and solidifies our active participation in economic opportunities within the region," stated Chief Duncan Michano of the Biigtigong Nishnaabeg.

The company plans to use the net proceeds to advance development of its Marathon Project, a copper-palladium deposit in Northwestern Ontario covering approximately 36,398 hectares.

Biigtigong Nishnaabeg approved a Community Benefits Agreement for the Marathon Project on November 14, 2022, following a membership vote on November 12, 2022. The agreement outlines benefits the community will receive from the project and details impact mitigation measures, including commitments regarding environmental management, employment, training, business opportunities, and financial participation.

According to a feasibility study with an effective date of November 1, 2024, the Marathon Project has an estimated net present value of C$1.07 billion using a 6% discount rate, an internal rate of return of 28%, and a 1.9-year payback period. Over the anticipated 13-year mine life, the project is expected to produce approximately 2,161,000 ounces of palladium, 532 million pounds of copper, 488,000 ounces of platinum, 160,000 ounces of gold and 3,051,000 ounces of silver in payable metals.

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