Palamina Corp. — Capital/Financing Update 2021

Jul 20, 2021

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PALAMINA ENGAGES T2W MARKET LIQUIDITY INC.

FOR IMMEDIATE RELEASE Toronto – July 20, 2021

Palamina Corp. (PA:TSX.V) announces it has engaged T2W Market Liquidity Inc. (“T2W”) effective July 19, 2021, to provide market liquidity services for its common shares listed on the TSX Venture Exchange. The term of the engagement is for a minimum of six months and is renewable thereafter on a month-to-month basis. T2W is a Dundas Ontario based private company which is in the business of providing market liquidity services to listed issuers since 2009. Formerly, Harold Hoff, the principal of T2W, had more than 10 years experience as a pro trader and designated market maker for a major bank owned investment dealer.

In consideration of market stabilization and liquidity services to be provided, the Company will pay T2W a monthly flat fee of $3,500 (plus applicable taxes) for a minimum of six months. T2W’s remuneration is in no way contingent upon the market price or trading volume of the common shares of Palamina on the TSXV.

T2W is entirely independent of the Company and will at all times be trading as principal for its own account and using its own capital. T2W will use their knowledge and discretion in providing these services and no assurance has been made as to any particular effect or result regarding the market for the Company’s common shares. T2W has covenanted to operate in accordance with best trading practices at all times.

About Palamina Corp.

Palamina has first mover advantage on 4 district scale gold projects in south eastern Peru in the Puno Orogenic Gold Belt (POGB). Palamina is set to drill its flagship Usicayos Gold Project. The Company also has rights to a silver-copper project in the Santa Lucia district and two copper-gold projects in Southern Peru. Palamina holds an 18.6% equity interest in Winshear Gold Corp. who are advancing the Gaban Gold Project to the drill discovery phase. Palamina has 65,284,836 shares outstanding and trades on the TSX Venture Exchange under the symbol PA.

On Behalf of the Board of Directors:

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.