Palamina Makes Changes to Board

TORONTO, ONTARIO--(Marketwired - Nov 16, 2016) - Palamina Corp. (TSX VENTURE:PA) has appointed Hugh Agro to the board of Palamina Corp. and accepted Glenton Masterman's resignation. Palamina would like to thank Glen for his support and efforts in advising Palamina. Glen recently relocated to Australia and we want to wish him every success in his new endeavours. Palamina has granted Hugh Agro 150,000 options of Palamina Corp. under its Stock Option Plan. All options are exercisable at $0.16 per common share and expire on November 15, 2021.

Hugh Agro is a Principal of Carbon Arc Capital Investments Inc., a private equity backed mining investment firm. Prior to co-founding Carbon Arc, Mr. Agro was Executive Vice President, Strategic Development with Kinross Gold Corporation. At Kinross, Mr. Agro was a member of the Executive Leadership Team and responsible for strategic and operational leadership of Kinross' growth initiatives including corporate development, global exploration and commercial activities in Russia. Previously, Mr. Agro held senior executive positions with Placer Dome, Senator Capital Partners and in investment banking with Deutsche Bank's Global Metals and Mining Group.

About Palamina Corp.

Palamina is directed by a group of proven mine finders focused on securing and holding advanced mining assets in the Americas. Palamina has 100% interest in three exploration projects in Mexico. Palamina has 22,574,713 shares outstanding and trades on the TSX Venture Exchange under the symbol PA.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.