Palamina receives a US$100,000 advance on royalties from Winshear Gold Corp.

Toronto, Ontario–(Newsfile Corp. – September 11, 2024) – Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) Palamina, Inc. has received a US$100,000 upfront payment (“AR”) from Winshear Gold Corp. (“Winshear”) (TSXV: WINS). The AR payment was due under a property purchase agreement signed on September 19, 2019. The agreement contains annual AR anniversary payments and a 2% NSR royalty per project payable to Palamina from Winshear. An additional US$100,000 payment is due from Winshear to Palamina in September 2025 to enforce Winshear’s Gaban and Ica claims.

Palamina also owns 4,833,333 common shares in Winshear, representing a 15.4% ownership interest in Winshear. Winshear is expected to commence an inaugural 1,600-metre drill program at its Gaban Gold Project in late September 2024. Drilling is also underway at Palamina’s Usicayos Gold Project.