PA.V · 2022-09-14 12:00:00

Palamina Reports Exploration Results & Land Consolidation at Its Galena Silver Copper Project

Exploration Programs

Palamina Reports Exploration Results & Land

Consolidation at Its Galena Silver Copper

Project

Toronto, Ontario

(Newsfile Corp.

September 14, 2022)

Palamina Corp.

(TSXV: PA) (OTCQB:

PLMNF) has received additional assay results from two additional 2022 geochemical and hand

trenching programs and has consolidated and increased its land package at its Galena Silver Copper

Project in SE Peru. Galena sits at the juncture

of the Santa Lucia mining district to the northeast and

within what is referred to locally as the Las Bambas copper trend to the northwest. In April of 2022,

Palamina staked an additional 4,800 hectares based on recommendations from a desktop study of

the

Santa Lucia district produced by Earthlabs Inc. (formerly GoldSpot Discoveries Corp.) and in July

2022 concluded the acquisition of 100% of two internal titled claims, Gaspar and Chaparro, covering

known mineralization that was historically explored by li

mited tunneling. Palamina now holds 100%

interest to 12,830 hectares at the Galena Silver Copper Project. No drilling has ever been carried out

within the area of the Galena concessions.

Palamina believes the historic Santa Rosa mine area in the Rosa Zone

and the Gris Zone have the

potential to host a Ag

Cu Carbonate Replacement Deposit ('CRD') similar to others within the Santa

Lucia mining district. A total of 361 samples were collected in the second and third quarter of 2022 in

the Rosa and Gris Zones to

better define and understand a possible northeast structural trend

through mapping and geochemical sampling. Maps follow that include rock, chip and soil sampling

locations. Five select samples from each zone from the most recent sampling campaigns follow

ZONE

SAMPLE

LENGTH

Ag*

TYPE

metres

g/t

ROSA

Outcrop

Chip

Channel

707

4.5

0.2

ROSA

Outcrop

Chip

Channel

284

0.8

ROSA

Outcrop

Chip

Channel

158

0.7

0.4

ROSA

Outcrop

Chip

Channel

101

0.5

0.6

ROSA

Outcrop

Chip

Channel

1.2

0.4

GRIS

Outcrop

Chip

Channel

24.0

GRIS

Outcrop

Chip

Channel

11.4

GRIS

Outcrop

Chip

Channel

0.2

3.6

GRIS

Outcrop

Chip

Channel

0.3

3.3

GRIS

Outcrop

Chip

Channel

0.1

4.4

*Select samples from most

recent exploration programs in 2022 with highest silver values for

each zone

"Over the summer Palamina carried out additional staking and acquired two internal titled claims in

order to consolidate the Galena land position in the Santa Lucia district. Resu

lts from these and

additional mapping sampling programs will be followed up with further IP surveys in order to identify

drill targets within the Rosa and Gris Zones NE trend. As the need for battery metals increases, high

grade silver copper projects with

low capital expenditures to reach production will gain in value.

Palamina is advancing the Galena silver copper prospect to meet that demand." commented Andrew

Thomson, President of Palamina.

In the Rosa Zone, mapping, rock sampling and soil geochemical s

ampling was carried out at the

Santa Rosa mine, in the Rosita area 0.4 km's to the north and the Mina Rosita Huayrapata area 3 km

further to the northwest. In the Gris Zone, Palamina carried out sampling of an argentiferous breccia

in the newly acquired hi

storic Chapparo mine area and north west of the historic Gaspar mine.

Location maps with select historic and newly sampled silver and copper assay results follow:

*Five select samples from prior and 2022 sampling programs with highest silver values for

each zone

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/4727/137073_49404b1c240a5912_002full.jpg

*Five sel

ect samples from prior and 2022 sampling programs with highest copper values for

each zone

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/4727/137073_49404b1c240a5912_003full.jpg

At Galena, Palamina geologists are pursuing epithermal, structurally

controlled min

eralization

expecting that it may lead to the discovery of a polymetallic carbonate

replacement deposit ("CRD")

similar to the CRD deposits mined in the Santa Lucia District north of Lake Lagunillas. Galena is

located south of Lake Lagunillas.

Palamina is

conducting further mapping and sampling in the Rosa, Rosita and Huayrapata areas that

make up the Rosa Zone. Further Induced Polarization surveys are planned. Palamina has elected to

suspend its FTA permit application at Galena until such time the mines d

epartment improves its

processing times.

Technical Information

Palamina Corp. quality assurance/quality control (QA/QC) protocol is implemented on all its

exploration projects. Prior to delivery of samples to the analytical laboratory Palamina QAQC staff

insert blank samples, field duplicates and certified standards into the sample stream with the

objective to provide a check on precision, accuracy and contamination in the laboratory. To assure

best practice compliance, assay results are only reported once

the results of internal QAQC

procedures have been reviewed and approved. Samples are collected and transported by Palamina

personnel to the Certimin S.A laboratory in Juliaca, Peru where they are processed and then sent for

assay to the Certimin SA lab in

Lima, Peru.

The technical information herein has been reviewed and approved by J. Blackwell (P. Geo.), a

Qualified Person as defined by National Instrument 43

101. Mr. Blackwell is a technical advisor to

Palamina.

About Palamina Corp.

Palamina has partici

pation in 9 gold projects in south

eastern Peru in the Puno Orogenic Gold Belt

(POGB). The Company also has rights to the Galena silver

copper project in the Santa Lucia district

and two additional copper

gold projects in Southern Peru. Palamina holds an 1

9.9% equity interest in

Winshear Gold Corp. who are advancing the Gaban Gold Project to the drill discovery phase.

Palamina has 65,284,836 shares outstanding and trades on the TSX Venture Exchange under the

symbol PA and on the OTCQB Venture Market under t

he symbol PLMNF.

On Behalf of the Board of Directors:

Andrew Thomson, President

Phone: (416) 204

7536 or visit

www.palamina.com

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 t

he 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. Forw

ard

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

otherwi

se, 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

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.

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