Announcement • Aug 13

Generation Mining Limited Provides Update On Marathon Copper-Palladium Project Construction Readiness And Early Procurements

Generation Mining Limited had appointed Ausenco as the engineering, procurement and construction management partner for the Marathon Project. Subsequent to the appointment, Generation Mining Limited, Ausenco and other consultants advanced multiple procurement packages and bid evaluation processes in support of project execution. Bid pricing received to date for major equipment and construction packages represents approximately 30% of the Project’s estimated capital cost. Major equipment and construction packages progressed to date include: Grinding mills package, High voltage substation package, Thickener package, Primary crusher package, Hydrocyclones, and Pre-engineered process plant building. Bid technical-commercial evaluations have commenced for these packages as part of the procurement and contractor selection process. Commercial reviews and packaging optimization discussions also commenced to support final contracting strategies and contractor selection. Generation Mining Limited has an agreement to lease, with an option to purchase, a 263-bed construction camp for use as workforce accommodation during the initial site preparation and construction phase. Generation Mining Limited has de-winterized the camp, with approximately 10% of units currently available. Procurement activities for additional workforce accommodations of approximately 286 beds and an overflow construction camp of approximately 500 beds (a peak total of approximately 786 beds) are progressing, including the receipt and evaluation of bids for the permanent camp construction package and associated catering. Generation Mining Limited also continued activities associated with early construction readiness and infrastructure planning, including the selection of an original equipment manufacturer to provide the mining fleet for the Project and ongoing discussions regarding a related maintenance and repair contract for the construction and mining operational phases. Generation Mining Limited also selected a fuel supplier for the Project with the contract to include the establishment of future on-site fuel facilities. Generation Mining Limited also continued procurement of the temporary construction powerline with Hydro One, with a take-off agreed to peak at 4MW to support both construction and early commissioning needs, while also advancing its agreement for the permanent powerline to support the full Project requirements. Planning activities related to safety systems, medical facilities, telecommunications, real estate, laydown areas, and mining operations, such as drilling and blasting, also advanced in line with Project needs. The EPCM Team has advanced process plant optimization through targeted metallurgical testing, layout improvements, site infrastructure design, construction planning, development of project controls, risk management activities, and ongoing review of execution strategies. The EPCM Team also advanced construction execution, including the development of Safety Management Plans, the optimization of earthworks sequencing, and the detailed design of upgrades to the main site access road. Risk review sessions were undertaken to support project readiness and integration of project risks and opportunities into the overall project execution strategy.

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