Resumes Exploration at the Coasa GOLD Project
\
PALAMINA
RESUMES EXPLORATION AT
THE
COASA GOLD PROJECT
FOR IMMEDIATE RELEASE
Toronto
–
August 1
3
,
2020
.
Palamina Corp.
(PA:TSX
-
V)
has resumed exploration at its 100% owned Coasa
Gold Project in
south eastern Peru.
Drill
pad construction is underway
,
in addition to completion of the field camp
in the Veta Zone.
Mapping and
s
ampling is also being carried out.
Palamina is awaiting
approval
of the Company’s Initiation of Activities
a
pplication in order to commence a drill program
in the
Veta Zone
at Coasa.
“Palamina
has resumed field exploration and is completing construction of the field camp at Coasa
with a view to initiating a drill program
.
”
said President
Andrew Thomson
“
Palamina’s equity
partner
Winshear
G
old
has commenced
mapping and sampling
on its Gaban
Gold Project
to
expand the mineralized footprint
in
the Piquitiri Zone
. Palamina
hold
s
a 19.9% equity interest in
Winshear Gold
post the
recently
completed
$1.3
2
M
financing
.
”
Palamina is implementing Covid
-
19 management p
rotocols at its exploration sites and is working
with local communities
to
limit exposure for our employees and families
.
Peru
has eased travel
restrictions allowing
some
interregional travel
including
resumption of
domestic flights from Lima
to Juliaca
. Palamina’s regional field office is in Juliaca while its Coasa Gold project is located near
the town of Usicayos.
Palamina remains in close contact with government authorities and
continues to mitigate and minimize an
y potential impacts of COVID
-
19.
This press release was compiled and reviewed by Mr. William McGuinty, P. Geo., Palamina’s VP
Exploration.
He is a Qualified Person as defined by National Instrument 43
-
101 and has
supervised the preparation of the technic
al contents of this press release.
About Palamina Corp
.
Palamina has first mover advantage on
4
district scale titled gold projects
in south eastern Peru in
the Puno Orogenic Gold Belt
(POGB)
.
The Company also has rights to a
silver
-
copper project in
the Santa Lucia district and two copper
-
gold projects in Southern Peru.
Palamina holds a 19.9%
equity interest in
Winshear Gold Corp.
who are advancing the Gaban Gold Project to the drill
discovery
phase.
Palamina has 45,134,836 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
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 are based on the opinions and estimates of management at the
date the statements are made, and are subject to a va
riety 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 obligatio
n, 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
un
d
er the company’s profile at www.SEDAR.com and on the Palamina webpage.
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.