Mr. Jamie Levy reports

GENERATION MINING ANNOUNCES UPSIZE OF BOUGHT DEAL FINANCING TO $30 MILLION

Generation Mining Ltd., due to investor demand, has entered into an amended agreement with Stifel Canada to act as sole bookrunner, on behalf of a syndicate of underwriters, to increase the size of its previously announced a bought deal private placement offering, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 41.67 million units of the company at a price of 72 cents per unit for aggregate gross proceeds of $30,002,400, with the common shares to be offered and sold pursuant to the listed issuer financing exemption (as defined herein).

Each unit shall comprise one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of $1 for a period of 24 months following the closing date (as defined herein).

The company has granted the underwriters an option, exercisable in whole or in part at any time and from time to time for up to 30 days following the closing date (as defined below), to purchase up to an additional number of units equal to 15 per cent of the number of units sold pursuant to the offering at a price per additional unit equal to the offering price to cover overallotments, if any, and for market stabilization purposes.

The net proceeds from the offering are expected to be used by the company to advance exploration and development at the company's Marathon project, for working capital, and for general corporate purposes.

The company intends to complete the offering pursuant to a prospectus supplement to the company's short form base shelf prospectus dated May 31, 2024, to be filed with the securities regulatory authorities in each of the provinces and territories of Canada (except Quebec), in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and applicable state securities laws and other jurisdictions, and in jurisdictions outside of Canada and the United States as are agreed to by the company and the underwriters on a private placement or equivalent basis.

Access to the base shelf prospectus, the prospectus supplement and any amendment to such documents is provided in accordance with securities legislation relating to the procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The base shelf prospectus is, and the prospectus supplement will be (within two business days from the date hereof), accessible on SEDAR+. Delivery of the base shelf prospectus and the prospectus supplement and any amendments thereto will be satisfied in accordance with the access equals delivery provisions of applicable Canadian securities legislation. An electronic or paper copy of the prospectus supplement and the base shelf prospectus, and any amendment to such documents, may be obtained, without charge, from Stifel Canada by e-mail at ecmcanada@stifel.com by providing Stifel Canada with an e-mail address or address, as applicable.

The offering is expected to close on or about Jan. 15, 2026, and is subject to certain conditions, including, but not limited to, receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange.

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 Marathon property covers a land package of approximately 26,000 hectares or 260 square kilometres. Generation Mining is dedicated to fostering a greener future by promoting sustainability, empowering communities and delivering value to its stakeholders.

The feasibility study estimated a net present value (using a discount rate of 6 per cent) of $1.07-billion, an internal rate of return of 28 per cent and a 1.9-year payback based on the three-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 pounds 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 on SEDAR+ and on the company's website.

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 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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