Palamina Announces the Appointment of Two New Directors

Toronto, Ontario--(Newsfile Corp. - September 9, 2020) - Palamina Corp. (TSXV: PA) has appointed two new members to the company's board of directors, effective immediately. Joining the board are Christina McCarthy and Sean Spraggett. Christina will serve on the Audit Committee and Sean Spraggett on the Compensation Committee.

"On behalf of Palamina's Board of Directors, I am pleased to welcome Christina McCarthy and Sean Spraggett. We are confident that their perspectives will be of great value to Palamina as the Company grows. Both are active in Latin America with experience in advancing exploration assets through to the development phase," said President Andrew Thomson.

Ms. McCarthy brings over 10 years of resource capital market experience, combined with a technical background in geology. Christina held the position of Director of Corporate Development for McEwen Mining for five years prior to her current role as Vice President of Corporate Development for New Oroperu Resources. Ms. McCarthy's diverse experience in capital markets, mining research and institutional sales, along with her technical capabilities will be a great addition to our board of directors. Ms. McCarthy holds a B.A. degree in Geology/Earth Sciences from Brock University in Ontario, Canada

Mr. Spraggett has over 25 years of experience in the mining industry and is currently the general manager for Orla Mining in Panama. Sean previously led the development and operations of the Constancia mine in Peru for Norsemont Mining prior to its acquisition by Hudbay Minerals. Sean has extensive experience in Latin America in both exploration and development. During his career Sean acted as a senior consultant on the Yanacocha, Cerro Corona, Rio Blanco, Marcobre, La Granja, Cerro Verde, and Toquepala projects in Peru. He holds a B.Sc. degree in Geological Engineering from the University of New Brunswick.

Concurrent with the director appointments, the Company's Board has authorized and approved 945,000 incentive stock options to certain officers, directors and consultants of the Company under its incentive stock option plan. The Stock Options have an exercise price of $0.30 per share. The options granted to officers and directors expire in 5 years and the options granted to the consultants expire in 3 years.

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. In September of 2019, Palamina concluded the sale of the Gaban gold and Tinka I.O.C.G Projects for 10,000,000 shares of Winshear Gold Corp. (formerly Helio Resource Corp.) and a 2% NSR per project. 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

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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