Palamina Receives US$100,000 Advance Royalty Payment from Winshear GOLD Corp.
PALAMINA RECEIVES US$100,000 ADVANCE ROYALTY PAYMENT
FROM WINSHEAR GOLD CORP.
FOR IMMEDIATE RELEASE
Toronto – September 11, 2024
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. The agreement sets out annual AR anniversary payments and a 2% NSR royalty per
project due to Palamina from Winshear . In September of 2025 a further US$100,000
payment is due from Winshear to Palamina to maintain Winshear’s Gaban and Ica claims.
Palamina also holds 4,833,333 common shares in Winshear representing a 15.4%
ownership interest in Winshear . Winshear is scheduled to begin an inaugural 1,600 metre
drilling program at its Gaban Gold P roject by the end of September 2024. Drilling is also
underway at Palamina’s Usicayos Gold Project.
In 2024, Palamina shareholders have participation in two drilling programs on gold projects
in the drill discovery phase in the under-explored Puno Orogenic Gold Belt with a 15.4%
ownership interest in Winshear and a 2% NSR royalty on all of Winshear’s projects.
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 Vice
President of Exploration to Palamina.
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 adding value through drill discovery at its Usicayos gold
project. Palamina also has an “acquire and hold” strategy with copper silver assets in southeastern
and northeastern Peru. Palamina holds a 15.4% equity interest in Winshear Gold Corp.
(WINS:TSX.V) and a 2% NSR royalty on all their projects . Winshear plans to conduct an
inaugural drill program at their Gaban Gold Project in 2024. Palamina has 71,284,836 shares
outstanding and trades on the TSX Venture Exchange under the symbol PA and on the OTCQB
Venture Market 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 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.sedarplus.ca.