Palamina Completes Transfer of the Gaban GOLD and Ica Copper Silver Projects from Winshear GOLD
PALAMINA COMPLETES TRANSFER OF THE GABAN GOLD
AND ICA COPPER SILVER PROJECTS FROM WINSHEAR GOLD
FOR IMMEDIATE RELEASE
Toronto – June 5, 2025
Palamina Corp. (TSXV:PA, OTCQB:PLMNF): On April 11, 2025, Palamina received notice from
Winshear offering to return 100% ownership of the Gaban Gold and Ica Copper -Gold projects to
Palamina (see April 14, 2025 news release ). In accordance with the terms of the original purchase
and sale agreement, Palamina confirmed its intention to take back ownership, and the transfer process
is now complete.
Projects Overview
Gaban Gold Project: Located in the Puno Orogenic Gold Belt in southeastern Peru, the Gaban Gold
Project has been the subject of significant exploration including an airborne geophysical survey
completed in 2024 . Previous sampling campaigns had outlined a gold -bearing mineralized shear
zone extending over a 900m by 2,200m area. Surface samples collected in quartz-rich deformed
shear zones returned assays of up to 32 g/t gold. The fir st-ever 1,005 meter drill program was
completed in late 2024 and returned some notable intersections, including 4 meters of 5.04 g/t gold
and 21 meters of 1.29 g/t gold hosted in shales. These were from the two southernmost drill holes in
the Coritiri zone. The drill program was stopped earlier than anticipated due to the early onset of the
rainy season, which prevented drilling of some of the main targets to the southwest. The DIA
environmental permit with approved drill pads remains in place.
Ica Copper-Gold Project: Located 45 km southeast of the city of Ica at an elevation of 2,000 m and
300 km southeast of Lima along the Pan-American highway. The Ica iron oxide-copper-gold project
is an early -stage exploration target that covers an area of 2,933 hectares. I nitial reconnaissance
mapping and sampling programs have delineated several laterally continuous copper-gold veins and
magnetite rich replacement bodies hosted in a shallowly oxidized Jurassic aged volcanic sequence.
An airborne magnetic survey was completed in early 2024 to assess the possibility of a large
magnetite or sulfide rich mineralized body at depth.
Andrew Thomson, President of Palamina, commented: "We appreciate all the work and effort that
Winshear has undertaken in advancing these projects. Regaining ownership of the Gaban and Ica
projects, allows Palamina to strengthen its position as one of the most active junior exploration
companies in Peru, strengthening our portfolio o f precious and base metals projects in one of the
world´s premier exploration jurisdictions.”
The Company is conducting a comprehensive review of the claim blocks for both properties and may
choose to drop a portion of the claims that do not align with its exploration objectives. Mr. Thomson
has resigned from the board of Winshear Gold . Palamina no longer holds any equity nor has any
ongoing relationship with Winshear Gold.
Technical Information
The technical information herein has been reviewed and approved by Alvaro Fernandez -Baca P.
Geo.; a Qualified Person as defined by National Instrument 43 -101. Mr. Fernandez-Baca is
Palamina’s Vice President of Exploration.
About Palamina Corp.
Palamina is an exploration company with a land bank of gold projects in the Puno Orogenic Gold
Belt in southeastern Peru. Palamina is primarily focused on adding value through drill discovery at
its Usicayos gold project. Palamina land bank of copper-silver assets with an “acquire and hold”
strategy in southeastern and northeastern Peru. Palamina has 71, 634,836 shares outstanding and
trades on the TSX Venture Exchange under the symbol PA and on the OTCQB under the symbol
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 Company's future business and
exploration 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 fr om 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.sedarplus.ca.