Mr. Eric Sprott, an investor, reports

ERIC SPROTT ANNOUNCES CHANGES TO HIS HOLDINGS IN PALAMINA CORP

On June 18, 2023, eight million common share purchase warrants of Palamina Corp. (held by 2176423 Ontario Ltd., a corporation Eric Sprott beneficially owns) expired unexercised, representing a decrease in beneficial ownership of approximately 9.5 per cent of the outstanding common shares on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these warrants, Mr. Sprott beneficially owned eight million shares and eight million warrants, representing approximately 12.3 per cent of the outstanding shares on a non-diluted basis and 21.8 per cent on a partially diluted basis assuming the exercise of such warrants. As a result of the warrant expiry, Mr. Sprott now owns eight million shares, representing approximately 12.3 per cent of the outstanding shares on a non-diluted basis.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities, including on the open market or through private acquisitions, or sell the securities, including on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other relevant factors.

Palamina is located at 145 King St. W, Suite 2870, Toronto, Ont., M5H 1J8. A copy of the early warning report with respect to the foregoing will appear on Palamina's profile on SEDAR and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario, 200 Bay St., Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ont., M5J 2J1).