Mr. Andrew Thomson reports

PALAMINA COMMENTS ON WINSHEAR GOLD CORP. SHARE MOVEMENT

Palamina Corp. currently holds 13,422,000 common shares and 1,321,000 warrants in Winshear Gold Corp., representing an 18.5-per-cent partially diluted share position. In February, 2023, Winshear completed arbitration proceedings against the Tanzanian government to recover damages for the expropriation of its SMP gold deposit in Tanzania. The arbitration proceedings were held at the International Centre for Settlement of Investment Disputes (ICSID), World Bank Group, in Washington, D.C. On Sept. 18, 2023, ICSID reported on its website that the proceeding is suspended pursuant to the parties' agreement.

The following is an excerpt from Winshear's Sept. 19, 2026, news release: "Winshear reports that pursuant to the company's arbitration case against the Republic of Tanzania (see Winshear news release dated July 14, 2020), the company and Tanzania have suspended arbitration proceedings and have reached a conditional settlement agreement. There is no guarantee that the conditional settlement agreement will be concluded. The company will report any developments as they occur."

Winshear is also advancing the Gaban gold project to the drill discovery phase in southeastern Peru, where a drill program is planned after a settlement or judgment in its arbitration case against the government of Tanzania. Winshear has secured up to $3.3-million (U.S.) ($4.3-million) in arbitration financing from a third party in return for a time and amount dependent share of any recovered award. Any positive settlement or payment of judgment represents a non-dilutive financing to Winshear to the benefit of its shareholders.

Further details of Winshear's Gaban gold project and arbitration proceedings can be found on Winshear's website.

About Palamina Corp.

Palamina has participation in eight gold projects in southeastern Peru hosted within the Puno orogenic gold belt (POGB). 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 an 18.5-per-cent equity interest on a partially diluted basis in Winshear Gold, which is advancing the Gaban gold project to the drill discovery phase.

Palamina has 71,284,836 shares outstanding and trades on the TSX Venture Exchange under the symbol PA and on the OTCQB Venture Market under the symbol PLMNF.