Palamina Corp. (TSXV: PA, OTCQB: PLMNF) has acquired 100% of the shares of Sociedad Minera Vicus Exploraciones S.A.C. (“Vicus”) from Aurania Resources Ltd. (TSX.V:ARU) (‘Aurania’). Vicus is now a wholly owned Peruvian subsidiary of Palamina Corp.

Palamina Corp (TSXV:PA OTCQB: PLMNF) has received a US$100,000 Advance Royalty (“AR”) payment from Winshear Gold Corp. (“Winshear”) (TSX.V: WINS). The AR payment was due pursuant to a property purchase agreement signed on September 19, 2019. 

Palamina Corp. (TSXV:PA OTCQB:PLMNF) has commenced drilling in the Sol de Oro (“SDO”) zone at its 100% owned Usicayos Gold Project in south eastern Peru.  Drill equipment was successfully mobilized and a fully functioning field camp is in place to support the program.

Palamina Corp.’s (TSXV:PA - OTCQB:PLMNF) 100% owned Usicayos Gold Project is located in the Puno Orogenic Gold Belt where nuggety coarse gold makes it challenging to establish continuity of gold grades. In 2024 Palamina has completed metallic screening, a PhotonAssay® check sampling program and a bulk sample mineralogical study to establish an optimized sampling protocol to minimize variances in gold grades due the nugget effect.

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) has completed a drone-based magnetic survey over the entire 4.5 km long mineralized gold trend at its 100% owned Usicayos Gold Project in the department of Puno in south eastern Peru. The survey was carried out by Lima-based geophysical contractor Deep Sounding E.I.R.L and included generating a detailed Digital Terrain Model (“DTM”) and acquiring an orthophoto to generate a new high-resolution topographic map. The company also completed a new structural interpretation of the Sol de Oro (“SDO”) zone which confirms the main controls on surface mineralization

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) has signed a Share Purchase Agreement (the “Agreement”) to acquire 100% of the shares of Sociedad Minera Vicus Exploraciones S.A.C. (“Vicus”) from Aurania Resources Ltd. (TSX.V:ARU)

Palamina Corp. (TSXV:PA - OTCQB:PLMNF) announces initial assay results from its first 2024 field campaign in the Sol de Oro Zone (“SDO”) at its 100% owned Usicayos Gold Project. 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. In 2024, inaugural drill programs are planned in the SDO Zone then the Cayos Zone later in the year.

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: