Generation Mining Completes Second Tranche of Private Placement for Additional $100,000

Toronto, Ontario--(Newsfile Corp. - April 27, 2018) - Generation Mining Limited (the "Company") is pleased to announce, further to its press release dated April 24, 2018, that it has completed a second tranche of its previously announced non-brokered private placement (the "Offering"), raising additional gross proceeds of $100,000 through the issuance of 500,000 units ("Units") at a price of $0.10 per Unit, and the issuance of 500,000 flow-through common shares ("FT Shares") at a price of $0.10 per FT Share. Each Unit consists of one common share ("Common Share") and one-half of one Common Share purchase warrant ("Warrant"). Each whole Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.20 per Common Share until April 25, 2020.

In connection with the completion of the second tranche of Offering, certain eligible persons (the "Finders"), were paid a cash commission equal to 6% of the proceeds raised from subscribers introduced to the Company by such Finders, and issued finder warrants (the "Finder Warrants") equal to 6% of the securities purchased by such subscribers. Each Finder Warrant entitles the holder thereof to purchase one Common Share at a price of $0.10 per Common Share until April 25, 2020.

In total, the Company has raised aggregate gross proceeds of $2,600,000 pursuant to the Offering. The Company now currently has 44,969,934 Common Shares outstanding, and working capital of approximately $2,500,000.

All securities issued in connection with the second tranche of the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The net proceeds of the Offering will be used for general working capital and to fund the continued evaluation of the Company's exploration projects.

About Generation Mining Limited

Generation Mining Limited is a base and precious metals exploration and development company with various property interests throughout Canada. Its primary business objective is to explore and further develop the Davidson Molybdenum project in British Columbia and its other mineral properties, and to continue to increase its portfolio of base and precious metal property assets through acquisitions.

For further information please contact:

Jamie Levy
President and Chief Executive Officer
(416) 567-2440
jlevy@genmining.com

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.