Winshear Provides Corporate and Exploration Updates
WINSHEAR PROVIDES CORPORATE AND EXPLORATION UPDATES
Vancouver, May 12, 2022
Winshear Gold Corp. ( TSX-V: WINS ) is pleased to provide the following corporate and exploration
updates.
Highlights
Tanzania arbitration
o The international arbitration process before an arbitral Tribunal constituted under the
rules of the International Centre for Settlement of International Disputes (ICSID) in
relation to Winshear’s US$95.5 million (CAD$124.8 million) claim against the
Government of Tanzania for expropriation of the SMP Gold project continues on the
Tribunal’s schedule toward a hearing in the first half of 2023. Winshear has secured up
to US$3.3 million (CAD$4.3 million) of arbitration funding from a third party in return for
a time- and amount-dependent share of any recovered award.
Gaban orogenic gold project – Peru
o On June 10, 2021, Winshear submitted its Declaracion de Impacto Ambiental (DIA), the
suite of environmental and social studies required to be completed ahead of drilling
at its Gaban gold project in Peru’s Puno Orogenic Gold Belt (“POGB”). The DIA allows
for the construction of up to 40 drill pads and covers the Coritiri target at
Gaban. Subject to funding, Winshear intends to drill Gaban as soon as possible after
receipt of the DIA, which has been delayed in the approval process.
o To date, the Gaban project has consisted of a large northern group of contiguous
concessions focused on the Coritiri and Yanamayo anomaliesand a smaller group of
concessions located a few kilometres to the south, herein referred to as the “Yang”
project ( Figure 1 ). Going forward, the “Gaban” project name will refer solely to the
northern block of concessions, and Yang to the southern block. Winshear intends to
seek a partner to explore the Yang project.
Ica IOCG project - Peru
o Winshear recently completed a one-month reconnaissance geochemical and mapping
program at the Ica project, the first work on this project since its acquisition from
Palamina. Results show a group of +/- 1 m wide magnetite-pyrite-chalcopyrite+/-
potassium feldspar+/-tourmaline veins up to several hundred meters long ( Figure 2 and
Figure 3 ; Appendix 1 ). These veins commonly are oxidized at the surface, but contain
fresh sulfide minerals just a few meters below the surface. Values up to 6.09% copper
and 2.6 grams/tonne gold demonstrate that veins with potentially economic grades of
copper and gold exist on the property. Winshear plans a ground geomagnetic survey to
determine whether these veins may widen or coalesce at depth, which could form the
basis for a compelling new target.
Dr. Mark Sander, President of Winshear, commented: "Winshear is progressing well on all fronts. In
Tanzania the rate of progress of the Tanzanian arbitration case is on schedule toward an early 2023
hearing followed by a decision soon after. Progress in Peru has been slower than expected as activities
reopen after COVID and as the newly elected government remains slow to react to needed changes.
The Company will, subject to funding, implement the drill program at Gaban as soon as possible after
the permits are received.”
Meet us at the Vancouver Resource Investment Conference – May 17-18
You can find us at booth #122 this coming Tuesday and Wednesday at the Vancouver Convention
Centre. On May 18th at 1.20pm we will present as part of the Company Showcase - workshop 4. For
more information on the conference and how to register, please check here.
About Winshear Gold Corp
Winshear Gold Corp. is a Canadian-based minerals exploration company that is currently advancing the
Gaban Gold Project in the Puno region of Peru. Gaban is a possible hard-rock source for the modern-
day alluvial gold rush underway in the Madre de Dios basin downstream; Winshear is investigating the
project for potential to host significant volumes of potentially minable gold resource.
The Company is also conducting fully funded arbitration proceedings against the Tanzanian Government
to recover its investment and damages for the expropriated SMP gold project in Tanzania.
For more information, please contact Irene Dorsman at +1 (604) 200 7874 or by e-mail at
ON BEHALF OF THE BOARD OF DIRECTORS
"Mark V. Sander"
Mark V. Sander, President
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Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautions Regarding Forward-Looking Statements
This news release includes certain statements and information that may contain forward-looking information within
the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of
historical facts, including, if any, those related to the likelihood of commercial mining or the ability to fund future mine
development are forward-looking statements and contain forward-looking information. Such forward-looking
statements and forward- looking information specifically include, but are not limited to, statements
concerning: Company plans at the Gaban or Tinka projects, the Company's ability to fund either of those projects,
and any Company plans in relation to any interest it has or may have in the SMP project in Tanzania.
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management as of the date such statements are made and they are subject to known and unknown risks, uncertainties
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Company has attempted to identify important factors that could cause actual results to differ materially from those
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