Mr. Jamie Levy reports

PERMIT TO REMOVE (TREES) ISSUED FOR GENERATION MINING'S MARATHON PALLADIUM-COPPER PROJECT

The Ministry of Natural Resources and Forestry of the province of Ontario has issued the permit to remove (trees) for Generation Mining Ltd.'s Marathon palladium-copper project. This represents yet another approval received in the permitting process for the Marathon palladium-copper project.

The Company continues to make significant progress on obtaining permits for the Marathon Project. In August 2023 we received our Endangered Species Act Permit and in September the Company received the Environmental Compliance Approval issued by the Ministry of Environment, Conservation and Parks for air and noise emissions for the Marathon Project. The Closure Plan was recently accepted and filed in early November. Additional permits and approvals are expected to be received during the balance of 2023.

About the Company

Gen Mining's focus is the development of the Marathon Project, a large undeveloped palladium-copper deposit in Northwestern Ontario, Canada. The Company released the results of the Feasibility Study Update on March 31, 2023.

The Feasibility Study Update estimated a Net Present Value (using a 6% discount rate) of C$1.16 billion, an Internal Rate of Return of 25.8%, and a 2.3-year payback. The mine is expected to produce an average of 166,000 ounces of payable palladium and 41 million pounds of payable copper per year over a 13-year mine life ("LOM"). Over the LOM, the Marathon Project is anticipated to produce 2,122,000 ounces of palladium, 517 million lbs of copper, 485,000 ounces of platinum, 158,000 ounces of gold and 3,156,000 ounces of silver in payable metals. For more information, please review the Feasibility Study Update dated March 31, 2023, filed under the Company's profile at SEDAR.com or on the Company's website at https://genmining.com/projects/feasibility-study/.

The Marathon Property covers a land package of approximately 22,000 hectares, or 220 square kilometres. Gen Mining owns a 100% interest in the Marathon Project.

Qualified Person

The news release has been reviewed and approved by Drew Anwyll, P.Eng., M.Eng., Chief Operating Officer a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.