Mr. Jamie Levy reports

GENERATION MINING SECURES CAD $200 MILLION SUBORDINATED DEBT COMMITMENT FROM CANADA INFRASTRUCTURE BANK

The Canada Infrastructure Bank (CIB) has received internal credit approval for a subordinated debt facility of $200-million to support the construction and development of Generation Mining Ltd.'s Marathon copper-palladium project.

The CIB facility comprises the following two components:

• $110-million subordinated debt facility to finance development and construction costs at the Marathon project (the subdebt facility);
• $90-million subordinated standby facility available to finance any project cost overruns during construction (the COF facility).

The company has now secured approximately $969-million of the financing required to bring the Marathon project into production. This amount includes the previously announced internal credit approval for a senior debt facility of $310-million (U.S.), or approximately $424-million (Canadian), from Export Development Canada, ING Capital LLC and Societe Generale (the senior facility); an existing undrawn metals streaming agreement with Wheaton Precious Metals of $200-million; and equipment leasing facilities totalling approximately $145-million.

The commitment represents another significant milestone in the company's project financing process. As a federal Crown corporation, the CIB invests in infrastructure projects across Canada with the goal of attracting private-sector and institutional investment while delivering public interest outcomes. This commitment also marks the CIB's first investment in Ontario's critical minerals sector, underscoring the strategic importance of the Marathon project to Canada's critical minerals supply chain.

"Securing a commitment from the Canada Infrastructure Bank is another major step forward in assembling the full financing package for the Marathon project," said Jamie Levy, president and chief executive officer. "The CIB's mandate to catalyze private-sector investment in critical infrastructure makes it a natural partner for Generation Mining. The commitment further validates the strength of the Marathon project's economics, its strategic importance, and its significance as a future North American producer of copper and palladium -- two metals essential to the energy transition. With approximately $969-million of project financing now committed, we are firmly on track toward a construction decision."

The CIB facility remains subject to completion of final documentation, including a comprehensive, well-advanced intercreditor agreement. Final documentation will include customary project finance terms and conditions, including satisfaction of a fully financed project construction package.

The company will now move forward with final documentation for the CIB facility and the previously announced senior facility and in parallel finalize negotiations with surety providers and equity investors. Assuming project financing is successful, construction is expected to commence in the second half of 2026.

Advisers

Endeavour Financial is acting as the financing adviser and A&O Shearman and Cassels is acting as legal adviser to the company for the project financing of the Marathon project.

Qualified person

The scientific and technical content of this news release has been reviewed and approved by Daniel Janusauskas, PEng, technical services manager of Generation PGM and a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Generation Mining Ltd.

Generation Mining's focus is the development of the Marathon project, a large, undeveloped copper-palladium deposit in Northwestern Ontario. The feasibility study with an effective date of Nov. 1, 2024, estimated a net present value (using a 6-per-cent discount rate) of $1.07-billion, an internal rate of return of 28 per cent, and a 1.9-year payback based on the three-year 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 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. These production estimates and economic projections are forward-looking statements subject to risks and uncertainties. For more information, please review the technical report filed under the company's profile on SEDAR+ and available on the company's website.

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