Palamina Magnetic + Gravity Surveys Identifies near Surface Drill Targets at the Galena Silver Copper Project

Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) holds a 100% interest in its Canadian subsidiary, Colt Silver Corp. ("Colt") whereby Colt, through its Peruvian subsidiary, holds a 100% interest in the Galena silver copper project. Palamina is seeking shareholder approval at its 2026 annual and special meeting to spin out Colt Silver Corp. as a standalone public company.

In April, Colt completed ground magnetic and gravity surveys (Figure 1) at its Galena silver copper project located in the Santa Lucia mining district in Puno, southeastern Peru. A total of 112.53 line-kilometres of magnetic data and 1,119 gravimetric readings were collected across the Rosa, Gris and Azul zones. The historic Santa Rosa mine is located in the Rosa Zone while the historic Chaparro & Gaspar galena mines are situated in the Gris Zone.

Andrew Thomson, President of Palamina, commented: "Results from Colt's ground magnetic and gravity surveys indicate that the Ayabacas Formation (blue) , which hosts carbonate replacement mineralization in the Santa Lucia district, may lie close to surface within uplifted fault blocks. The bounding structures of these fault blocks represent attractive exploration drill targets, as do the intersections of northeast trending mineralized structures at the historic Santa Rosa, Gaspar and Chaparro mines."