Palamina Corp. (TSXV:PA - OTCQB:PLMNF) has appointed Alvaro Fernandez-Baca as V.P. Exploration and Hall Stewart and Jerry Blackwell as advisors to complement our discovery team in Peru. We would like to thank Jerry Blackwell for previously acting as lead geologist and for his continued support in his new role as advisor.

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) completed its latest field program at its 100% owned Usicayos Gold Project (the “Project”) in the Sol de Oro Zone (“SDO”) in December 2023. Usicayos is located in southeastern Peru and hosts a 4.5 km long mineralized orogenic gold trend to include the southwestern SDO Zone, the central Cayos Zone, and the northeastern Veta Zone. Drilling is scheduled to commence in Q2 of 2024.

Palamina Corp.’s (TSX-V: PA, OTCQB: PLMNF) has granted 1,585,000 incentive stock options to certain officers, directors, advisors and consultants of the Company under its Stock Option Plan. All options are exercisable at $0.15 per common share.  The options granted to officers and directors and advisors expire on December 15, 2028 and the options granted to the consultants expire on December 15, 2025.

Palamina Corp.’s (TSX-V: PA, OTCQB: PLMNF) equity/royalty partner Winshear Gold Corp. (TSX-V: WINS) provided a return of capital of CDN$0.25 per share on December 8, 2023 to Winshear shareholders, resulting in a non-dilutive payment of $3,625,000 to Palamina.  Palamina continues to own 14,500,000 common shares of Winshear representing 15.4% of their outstanding shares.

Palamina Corp.’s (TSXV:PA - OTCQB:PLMNF) equity/royalty partner Winshear Gold Inc. (TSXV:WINS) (“Winshear”) has declared a return of capital of CDN$0.25 per share to Winshear shareholders payable December 8, 2023. Palamina holds 13,422,000 common shares and 1,321,000 warrants in Winshear and a 2% NSR on all its projects in Peru.

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) equity/royalty partner Winshear Gold Inc. (TSXV:WINS) (“Winshear”) has received a settlement payment of US$30,000,000 from the Tanzanian Government as compensation for the expropriation of Winshear’s SMP gold deposit in Tanzania. Palamina holds 13,422,000 common shares and 1,321,000 warrants in Winshear Gold Corp. (representing an 18.5% partially diluted share position) and a 2% NSR on all its projects in Peru. On September 19, 2023 Winshear announced they had reached a conditional settlement agreement with Tanzania where the full and final settlement payment of US $30,000,000 to settle the arbitration was received on October 16, 2023. After paying funders and legal fees the net amount payable to Winshear is estimated to be in excess of CDN $25,250,000

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) currently holds 13,422,000 common shares and 1,321,000 warrants in Winshear Gold Corp. (TSXV:WINS) representing an 18.5% partially diluted share position. In February of 2023 Winshear completed arbitration proceedings against the Tanzanian Government to recover damages for the expropriation of its SMP Gold Deposit in Tanzania. The arbitration proceedings were held at the International Centre for Settlement of Investment Disputes (“ICSID”), World Bank Group in Washington D.C. On September 18, 2023 ICSID reported on its web page: The proceeding is suspended pursuant to the parties” agreement.

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) has received a US$50,000 Advance Royalty (“AR”) payment from Winshear Gold Corp. (“Winshear”) (TSX.V:WINS). The AR payment was due pursuant to a property purchase agreement signed and approved on September 19, 2019 which outlines annual AR anniversary payments and a 2% NSR royalty per project subject to terms of the purchase agreement.

Palamina Corp. (“Palamina” or the “Company”) has closed its non-brokered private placement offering (the “Offering”) announced on May 15, 2023.  The Company raised a total of $750,000 for the issuance of 6,000,000 units (the “Units”) at a price of $0.125 per Unit. Each Unit consists of one common share (“Common Share”) and one warrant (each a “Warrant”).  Each whole Warrant is exercisable to acquire one Common Share at a price of $0.25 for a period of two years after the date of issuance.

Palamina Corp. (“Palamina” or the “Company”) will conduct a non-brokered private placement offering (the “Offering”) of up to 6,000,000 units (“Units”) at a purchase price of $0.125 per Unit, for aggregate gross proceeds of up to $750,000. Each Unit consists of one common share (“Common Share”) and one warrant (a “Warrant”).  Each whole Warrant is exercisable to acquire one Common Share at a price of $0.25 for a period of 24 months from the closing date.

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) has received approval of the modification of its Environmental Impact Study or Declaración de Impacto Ambiental permit ("DIA") to include the newly acquired Sol de Oro (“SDO”) and Cayos Zones. The DIA allows for up to 40 drill pads. Five drill pads were constructed in the Veta Zone during the initial drill program and 35 permitted drill pads sites remain available under the DIA. The diamond drill rig remains at site where construction of pads and roads to newly selected drill target areas in the SDO and Cayos zones is set to commence at the end of the rainy season in late April.

Winshear Gold Corp. (TSXV:WINS) (‘Winshear’, the ‘Company’, or the ‘Claimant’) reports that the complete video recording of the evidentiary hearing in its arbitration against the United Republic of Tanzania (‘Tanzania’) is now available online.

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) holds 13,422,000 shares and 1,321,000 warrants representing a 19.99% partially diluted share position in Winshear Gold Corp. (TSXV:WINS). The following news release was disseminated by Winshear today:

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) holds 13,422,000 shares and 1,321,000 warrants representing a 19.99% partially diluted share position in Winshear Gold Corp. (TSXV:WINS). The following news release was disseminated by Winshear today:

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) completed its second field program in the Sol de Oro Zone (“SDO”) at the Usicayos Gold Project in December 2022. Palamina acquired the SDO Zone in June of last year. At Usicayos a 4.5 km mineralized gold trend has been defined made up of the southwestern SDO Zone, central Cayos Zone and northeastern Veta Zone. Six drill holes were completed in the Veta Zone in 2021 and 2022. The Cayos and SDO zones have never been drilled. Palamina has scheduled these zones for drill testing later this year

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) welcomes the appointments of Peter Bojtos P.Eng. as a new director and Michael Farrant as Chief Financial Officer (“CFO”) effective November 30, 2022. Peter Bojtos is replacing departing director Hugh Agro and Michael Farrant replacing departing CFO Brian Jennings. Palamina would like to thank Hugh and Brian for the tremendous input and support they have provided Palamina over many years.

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) Field work completed in the newly acquired Sol de Oro Zone at the Usicayos Gold Project has returned values up to 0.9m of 200 g/t gold with multiple visible gold occurrences prospected.

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) has received additional assay results from two additional 2022 geochemical and hand trenching programs and has consolidated and increased its land package at its Galena Silver Copper Project in SE Peru.Galena sits at the juncture of the Santa Lucia mining district to the northeast and within what is referred to locally as the Las Bambas copper trend to the northwest. 

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) has received a US$50,000 Advance Royalty (“AR”) payment from Winshear Gold Corp. (TSX.V:WINS). The AR payment was due pursuant to a property purchase agreement signed and approved on September 19, 2019 which outlines annual AR anniversary payments and a 2% NSR royalty per project subject to terms of the purchase agreement.

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) has received assay results for the two recently completed core holes at the Usicayos Gold Project in southeastern Peru. Holes VE-05-2022 and VE-06-2022 were completed from drill pad 5 situated approximately 120 metres northeast of hole VE-04-20021 to test the most easterly 200 metres of the Veta Zone.