Announces Resignation of Director
PALAMINA
PROVIDE
S
UPDATE AND
ANNOUNCES RESIGNATION OF DIRECTOR
FOR IMMEDIATE RELEASE:
Toronto
–
April 17
, 2020
Palamina Corp.
(PA:TSXV)
reports that all operating activities have been halted in keeping with the
government of Peru’s travel and work restrictions related to the COVID
-
19 pandemic. The government
shutdown commenced
on
April 1, 2020
.
All staff and contractors are safe and secur
e. Palamina maintains
a
minimal staff shared by
the company
and
its operating partner,
Winshear
Gold Corp.
,
to
maintain
all
projects
in good standing
.
Management will conduct a review
towards
the end of June
to decide when to
resume exploration
activities.
Palamina also
announces the resignation of
Darin
W
agner
from the Board of Directors of the Company
for
personal reasons
. The Company wishes to sincerely thank Mr.
Wagner
for his contribution and services as
a dir
ector and wishes him all the best in his future.
Andrew Thomson
,
President of Palamina
remarked, "
Darin
has been critical to
Palamina’s
success
in
the
last several years and he will be missed. We wish him all the
best in his future endeavo
u
rs."
Palamina
secured a Declaración de Impacto Ambiental (“DIA”) from the Peruvian Ministry of Energy and
Mines for its flagship Coasa Gold Project in December of 2019. The Company is awaiting the Authorization
to Initiate Explor
ation Activities (“AIEA”) which is required to commence initial drill testing of the Coasa
gold system.
Palamina is utilizing the shutdown to further refine drill targets
and conduct a review of all its
existing projects
.
Palamina is one of a select few
Peruvian
pure
gold exploration companies
to have received
its
DIA
.
ABOUT PALAMINA
Palamina holds applications and mineral rights to four gold projects in south
eastern Peru in the Puno
Orogenic Gold Belt (POGB), a silver
-
copper project in the Santa Lucia district and two copper
-
gold projects
in Southern Peru. In September of 2019, Palamina concluded the sale of the Gaban gold and Tinka I.O.C.G
Projects for 10,000
,000 shares of Winshear Gold Corp. (formerly Helio Resource Corp.) and a 2% NSR
per project. Palamina has 36,303,636 shares outstanding and trades on the TSX Venture Exchange under
the symbol PA.
FOR FURTHER INFORMATION PLEASE CONTACT:
Andrew Thomson, Pre
sident
Phone: (416) 987
-
0722 or visit
www.palamina.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.