Palamina Announces the Extension of the Expiry Date of Certain Common Share Purchase Warrants for One Year

Toronto, Ontario--(Newsfile Corp. - August 21, 2019) - Palamina Corp. (TSXV: PA) (the "Company" or "Palamina") announces that it has agreed to extend the expiry date of certain of its outstanding common share purchase warrants (the "Warrants") for an additional year. The new expiry date of these Warrants will be August 26, 2020. These Warrants were issued pursuant to a private placement of 7,166,667 units, which closed on February 26, 2018. For further information on the original issuance of the Warrants, please refer to the press releases of the Company dated February 26, 2018.

Warrantholders are advised that replacement warrant certificates will not be issued and that the original warrant certificates must be presented to the Company in order to effect the exercise or transfer of such Warrants. All other terms and conditions of the Warrants remain in full force and effect. The warrant extension remains subject to TSX Venture Exchange acceptance of requisite regulatory filings.

About Palamina Corp.

Palamina holds the application and mining rights to five gold projects in south-eastern Peru in the Puno Orogenic Gold Belt (POGB), a silver copper project in the Santa Lucia district and 2 copper-gold projects in Southern Peru. Palamina recently signed a letter of intent with Helio Resources Corp. to sell its Gaban gold and Tinka I.O.C.G Projects for 10,000,000 shares of Helio and a 2% NSR per project. Upon completion of the sale, Palamina will retain six Projects in Peru. Palamina has 36,228,636 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47120