Completes Project S Sale to Winshear GOLD & Receives US$25,000 Advance Roya Lt Y Payment
PALAMINA
COMPLETES PROJECT
S
SALE TO WINSHEAR GOLD &
RECEIVES US$25,000 ADVANCE ROYA
LT
Y PAYMENT
FOR IMMEDIATE RELEASE
Toronto
–
September
28
, 2020
.
Palamina Corp.
(PA:TSX
-
V) has
been issued an additional 400,000 common shares of Winshear Gold
Corp.
(WINS:TSX
-
V)
for a total 10,000,000
common shares completing the sale of the Gaban Gold and
Tinka I.O.C.G. projects.
Winshear Gold also provided
Palamina a
US$25,000
annual advance roya
lty
payment
as required under the property purchase agreement. Annual advance royalty payments will cease
once Winshear Gold
has
complet
ed
5,000 metres of drilling on the
Gaban or Tinka
projects
.
Winshear Gold also announced a further $507,500 was added
to their treasury through the exercise of
warrants which expired on September 19, 2020. As of September 24, 2020, Winshear Gold had
53,124,318
common shares outstanding. Pursuant to the issuance of shares to Palamina and the warrant
exercise, Palamina
hold
s
18.6%
of
the issued capital of Winshear, a 2% N.S.R. per project
and
is entitled
to further
advance royalty payments.
Winshear Gold continues to
advance the
Gaban
Gold Project
with a view to defining the best target areas
for drill testing.
The
Gaban Gold Project is in the drill discovery phase.
About Palamina Corp.
Palamina
is a junior exploration company with
first mover advantage on 4 district scale gold projects in
south eastern Peru in the Puno Orogenic Gold Belt (POGB).
Palamina is pri
marily
focused on advancing
the
Coasa Gold Project. Palamina alos holds an 18.6% equity interest in
Winshear Gold Corp. (formerly
Helio Resource Corp.)
who are advancing the
ir
Gaban Gold Project. Both Coasa and Gaban are in the
drill discovery phase.
Palam
ina has 45,284,836 shares outstanding and trades on the TSX Venture
Exchange under the symbol PA.
FOR FURTHER INFORMATION PLEASE CONTACT:
Andrew Thomson, President
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.