Mr. Richard Williams reports

WINSHEAR REPORTS RESULTS OF ANNUAL AND SPECIAL GENERAL MEETING

Winshear Gold Corp. has released the results of its annual and general special meeting held on Sept. 30, 2022.

All resolutions presented to shareholders were approved (see the SEDAR filing of the company's information circular, dated Aug. 30, 2022). Votes representing 19,103,760 shares were cast (26.37 per cent of the issued and outstanding shares at the record date).

Newly appointed director

The company warmly welcomes Daniele Spethmann, PGeo, to the board of directors. Ms. Spethmann is president and chief executive officer of Warrior Gold and has over 30 years of experience in Northern Ontario, Canada, and internationally in Latin American and Botswana, including senior geologist and principal on projects with significant discoveries (Choco 10 -- Carolina zone, Venezuela; and Fruta del Norte, Ecuador). Ms. Spethmann studied geology at the University of Ottawa and completed the mining management certificate at Ryerson University. Ms. Spethmann replaces Alistair Waddell as a Palamina nominee on Winshear's board of directors. Palamina holds a 19.9-per-cent equity interest in Winshear. Winshear would like to thank Mr. Waddell, outgoing director, for his contributions to Winshear.

About Winshear Gold Corp.

Winshear holds 100-per-cent ownership in the Gaban gold project, the Yang gold project and Ica IOCG (iron oxide/copper/gold) project in Peru. At Gaban, Winshear has discovered and delineated the Coritiri and Yanamayo gold anomalies covering an area of 2.2 kilometres by one kilometre. This target is currently being permitted for drilling.

In 2020, Winshear, formerly Helio Resource Corp., secured up to $3.3-million (U.S.) in litigation financing from Delta Capital Management LLC to pursue arbitration proceedings against the government of the United Republic of Tanzania before an arbitral tribunal appointed by the International Centre for Settlement of Investment Disputes (ICSID) for the expropriation of its SMP gold project in Tanzania and other breaches of the agreement between the government of Canada and the government of the United Republic of Tanzania for the promotion and reciprocal protection of investments.

Winshear's claim against Tanzania now exceeds $130-million and the hearing in these fully financed arbitration proceedings will take place in Q1 2023. Any settlement or judgement paid to Winshear from the Tanzanian government is subject to a formula whereby a portion of any proceeds are paid to Winshear's financers and legal counsel.

We seek Safe Harbor.