Palamina Announces New Director Nominee and Senior Management Appointments to Expand Peruvian Discovery Team

Toronto, Ontario--(Newsfile Corp. - November 1, 2017) - Palamina Corp. (TSXV: PA) today announced the nomination of Alistair Waddell to the board of directors and appointed Donald Mc Iver and Yury Valdivieso to senior management positions. Donald McIver joins Palamina as its new V.P. of Exploration and Yury Valdivieso as Exploration Manager for Peru.

Andrew Thomson, President and C.E.O. of Palamina Corp. stated, "Palamina continues to add to the discovery team with a view to defining a significant gold deposit in the Puno Gold Belt in south eastern Peru. Alistair Waddell was formerly responsible for global greenfields exploration while at Kinross Gold Corp. and Donald Mc Iver and Yury Valdivieso were the lead geologists in the discovery and development of the Ollachea gold deposit in the Puno Gold Belt."

Alistair Waddell is a geologist with over 20 years of diverse resource industry experience, including senior roles with both junior and senior mining companies providing a broad vision of many aspects of the business. He was a founder and former President and CEO of TSX-V listed GoldQuest Mining Corp. principally focused on exploration in the Dominican Republic. More recently, he was Vice President - Greenfields Exploration for Kinross Gold Corp. responsible for global greenfields exploration. Alistair brings with him excellent experience and a broad knowledge of Latin America including Peru where he lived and worked for over three years.

Donald Mc Iver is a South African geologist, has a M.Sc. in Exploration and Economic Geology, is a Fellow of the Australian Institute of Mining and Metallurgy (FAusIMM), as well as of the Society of Economic Geologists (FSEG). Don is a Qualified Person as defined by National Instrument 43-101 and is a member of the SEG Board of Trustees. Don has accumulated extensive experience over a career spanning more than 30 years in the fields of production and exploration geology in Southern Africa and the Americas, as well as in the recognition of potential economically mineable assets and the resource development thereof. Donald has tremendous experience in managing teams, budgets and logistical issues and has had significant exposure to the management of community relationships in Latin America. Don was the V.P. Exploration for Minera I.R.L. from 2005 to 2015 and instrumental in assembling and leading the geological discovery team and subsequent resource development of the Ollachea Gold deposit located in the department of Puno, Peru.

Yury Valdivieso is a Peruvian geologist with 30 years of experience in the Peruvian and South American mining and exploration industry. Yury has a M.Sc. in economic geology and mineral resources with 10 years' experience in orogenic gold deposits. He is a member of the Society of Economic Geologists (SEG), the Geological Society of Peru (SGP) and the College of Engineers of Peru (CIP). Yury has been part of the discovery team on several important epithermal gold and orogenic gold deposits. He additionally specializes in safety, health and environment management as well as negotiation with communities and management of community relations. Principally an exploration geologist, he also has significant experience in mining geology in Peru. Yury became a member of Minera I.R.L. senior management during the discovery and development of the Ollachea Gold deposit located in the department of Puno, Peru.

Palamina granted a total 220,000 stock options to purchase common stock to the nominated director and newly appointed officers at an exercise price of $0.17, for a term of 5 years, pursuant to the Company's incentive stock option plan.

Palamina's management team and Board of Directors would like to thank former V.P. of Exploration Steven T. Priesmeyer for his tireless efforts and solid guidance. Steve will remain a consultant to Palamina and we wish him great success in his new position as V.P. Exploration at Revival Gold Inc.

About Palamina Corp.

Palamina is directed by a group of proven mine finders focused on securing mining assets in the America's with the potential to host significant gold deposits. Palamina has acquired the application rights to five areas in the Puno gold belt and one project in the coastal I.O.C.G. belt in Southern Peru and holds 100% interest in one exploration project in Mexico. Palamina has 22,574,713 shares outstanding and trades on the TSX Venture Exchange under the symbol PA.

FOR FURTHER INFORMATION PLEASE CONTACT:
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.