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Palamina Welcomes New VP Exploration and Advisors as Team Members

Toronto, Ontario--(Newsfile Corp. - April 1, 2024) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has appointed Alvaro Fernandez-Baca as V.P. Exploration and Hall Stewart and Jerry Blackwell as advisors to complement our discovery team in Peru. We would like to thank Jerry Blackwell for previously acting as lead geologist and for his continued support in his new role as advisor.

"Palamina is pleased to welcome Alvaro Fernandez-Baca and Hall Stewart as new members of our team. Each brings a wealth of exploration experience and expertise that will be invaluable as we continue to advance our gold and silver copper projects in south-eastern Peru," commented Andrew Thomson, President of Palamina.

The new team members include:

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Vice President of Exploration: Mr Alvaro Fernandez-Baca, P.Geo., has over 25 years' experience in mineral exploration in Peru and globally. He graduated from the University of Edinburgh and started working in 1996 at the La Virgen gold deposit in northern Peru. Prior to joining Palamina, was VP Exploration and General Manager for Tinka Resources, leading the team that defined the large Ayawilca zinc-lead-silver-tin resource in Central Peru. Before working with Tinka, he was exploration manager for Hochschild Mining and Vice President Exploration and General Manager for AQM Copper where he managed exploration of the Zafranal copper-gold deposit.

Technical Advisor: Mr. Hall Stewart, CPG, RG (Arizona) is a graduate of the University of Arizona with 30 years of experience in Latin America. Most recently Hall was Chief Geologist with Mithril Resources at the Copalquin Project in Mexico. Previously Mr. Stewart and Michael Farrant (Palamina's current CFO) were co-founders of Puno Gold Corp., active primarily in the Santa Lucia District in Peru where Palamina has its critical metal focus. Hall was also co-founder of Commonwealth Silver and Gold Corp. where he managed exploration of the historic Commonwealth mine in Arizona. Mr. Stewart also acted as Project Geologist at the Ocampo and Palmarejo Projects in Mexico. Coeur reports that in 2023 the Palmarejo complex represented 64% of its silver production and 32% of Coeur's gold production.

Pursuant to Palamina's stock option plan, a total of 1,100,000 stock options have been issued to our new VP exploration and new advisor. The options issued to Mr Fernandez-Baca are exercisable for five (5) years and vest over three years at an exercise price of $0.15, the options issued to Mr. Stewart are exercisable for three (3) years and vest immediately at an exercise price of $0.15.

About Palamina Corp.

Palamina has participation in eight gold projects in south-eastern Peru hosted within the Puno Orogenic Gold Belt. Palamina is advancing the Usicayos gold project through the drill discovery phase. The Company also has rights to the Galena silver-copper project in the Santa Lucia district. Palamina holds a 15.4% equity interest on a fully diluted basis in Winshear Gold Corp. who are advancing the Gaban Gold Project to the drill discovery phase.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203804