Palamina Adopts Semi-Annual Financial Reporting

PALAMINA ADOPTS SEMI-ANNUAL FINANCIAL REPORTING

Toronto – May 12, 2026 - Palamina Corp. (TSX.V: PA OTCQB: PLMNF) is pleased to announce that

pursuant to the Canadian Securities Administrators Coordinated Blanket Order 51-933 - Exemptions to

Permit Semi-Annual Reporting for Certain Venture Issuers, as adopted by the B.C. Securities Commission,

(the "Blanket Order") it will move to semi-annual financial reporting ("SAR").

Palamina will voluntarily move from a quarterly to a semi-annual financial reporting framework. The

Company's fiscal year recently ended on December 31. Under the SAR pilot program, the Company will

be exempt from filing interim financial reports and related Management's Discussion & Analysis (MD&A)

for its first and third quarters.

Interim Periods Affected: The Company will not file an interim report in 2026 (and in future years) for the

first quarter (Q1) ending March 31 and the third quarter (Q3) ending September 31; and Ongoing Reporting

Requirements: The Company will continue to file audited financial statements (due within 120 days of

year-end) and six-month interim financial reports (due within 60 days of December 31).

This news release is being issued pursuant to the Blanket Order and the Company will continue to report

all material changes and significant developments as required under National Instrument 51-102 -

Continuous Disclosure Obligations and under all applicable securities laws and regulations. Adopting semi-

annual reporting will reduce the administrative and financial burden associated with quarterly reporting.

About Palamina

Palamina is a mineral exploration company with 6 gold projects in the Puno Orogenic Gold Belt in

southeastern Peru and a separate Canadian 100% owned subsidiary, Colt Silver Corp. with seven copper-

silver assets across southeastern, northeastern, and central Peru. Colt Silver Corp. is being spun out into its

own stand alone public company to unlock additional shareholder value. Palamina trades on the TSX

Venture Exchange (PA) and the OTCQB (PLMNF).

On Behalf of the Board of Directors

Andrew Thomson, President

Phone: (416) 204-7536 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.

This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities

law. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”,

“believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events

or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the

conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking

statements include, but are not limited to, the use of proceeds of the Offering and the Company's future business plans. Forward-

looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to

a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected

in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to

update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as

expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the

Company’s continuous disclosure filings, which are available at www.sedar.com