2
Once Gen Mining has earned the Second Interest, Sibanye-Stillwater shall have the option to fund any future
exploration and development costs on a pro rata basis with Gen Mining (80% funded by Gen Mining and
20% funded by Sibanye-Stillwater) in order to maintain its 20% interest in the Property, subject to normal
dilution provisions.
If Gen Mining does not earn into the Second Interest, Sibanye-Stillwater shall have a one-time option to re-
acquire from Gen Mining an additional 31% participating interest in the joint venture (for a total 80%
participating interest) for CDN$1.00 and become operator under the joint venture.
Upon a definitive feasibility study (the “DFS”) being prepared and the management committee of the joint
venture making a positive commercial production decision, so long as Sibanye-Stillwater has a minimum
20% interest in the Property, then Sibanye-Stillwater will have 90 days to exercise an option to increase its
participating interest in the joint venture from its current percentage up to 51% (the “Percentage
Differential”)by agreeing to fund an amount of the total capital costs as estimated in the DFS multiplied by
the Percentage Differential, in addition to its pro rata proportion of costs that it would fund at its current
participating interest level. Should this option be exercised, Sibanye-Stillwater would also take over
operatorship of the project at such time.
More about Generation Mining
Generation Mining is a base metal exploration and development company with various property interests
throughout Canada. Its primary business objective is to explore and further develop these properties, and
to continue to increase its portfolio of base and precious metal property assets through acquisition. The
Company’s common shares trade on the Canadian Securities Exchange (“CSE”) under the symbol GENM.
For more information, please refer to their website at https://www.genmining.com/.
Investor relations contacts:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the “safe harbour”
provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact included in this announcement may be forward-looking statements. Forward-
looking statements may be identified by the use of words such as “will”, “would”, “expect”, “may”,
“could” “believe”, “anticipate”, “target”, “estimate” and words of similar meaning. These forward-looking
statements, including among others, those relating to our future business prospects, financial positions,
ability to reduce debt leverage, business strategies, plans and objectives of management for future
operations and the anticipated benefits and synergies of transactions, are necessarily estimates reflecting
the best judgement of our senior management. Readers are cautioned not to place undue reliance on
such statements. Forward looking statements involve a number of known and unknown risks, uncertainties
and other factors, many of which are difficult to predict and generally beyond the control of Sibanye-
Stillwater that could cause Sibanye-Stillwater’s actual results and outcomes to be materially different from
historical results or from any future results expressed or implied by such forward-looking statements. As a
consequence, these forward-looking statements should be considered in light of various important factors,
including those set forth in the Group’s Annual Integrated Report and Annual Financial Report, published
on 29 March 2019, and the Group’s Annual Report on Form 20-F filed by Sibanye-Stillwater with the
Securities and Exchange Commission on 9 April 2019 (SEC File no. 001-35785). These forward-looking
statements speak only as of the date of this announcement. Sibanye-Stillwater expressly disclaims any
obligation or undertaking to update or revise these forward-looking statements, save as required by
applicable law.