Palamina Acquires Esperanza Project South East of the Berenguela Silver-Copper-Manganese Deposit

Rhea-AI Summary

Palamina (OTCQB: PLMNF) acquired 100% of the Esperanza concession, a 60.75 hectare claim in the Santa Lucia district of southeastern Peru, for US$18,000 with no royalties payable.

Esperanza lies adjacent to Aftermath's Berenguela silver-copper-manganese project, which hosts a reported 122.5 million oz Ag in Measured and Indicated and 22.0 million oz Ag Inferred. Palamina's field visit identified the same outcropping limestone unit and a NW-SE trending carbonate sequence that hosts Berenguela mineralization.

Palamina commissioned WorldView-3 hyperspectral mapping; initial results indicate the Berenguela manganese trend extends into Esperanza. The company plans detailed mapping and sampling in early 2026 and continues advancing its nearby Galena project.

Positive

• Acquired 100% of Esperanza mineral rights (60.75 ha) for US$18,000
• Esperanza lies adjacent to Berenguela with 122.5M oz Ag M+I and 22.0M oz Ag Inferred
• Hyperspectral mapping shows Berenguela manganese trend extends into Esperanza
• Field visit identified same carbonate host unit as the adjacent Berenguela deposit
• Planned detailed mapping and sampling in early 2026

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - December 18, 2025) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has acquired 100% of the mineral rights to the Esperanza concession covering a 60.75 hectare area located in the Santa Lucia district in southeastern Peru. Esperanza lies adjacent to Aftermath Silver Ltd.'s (TSXV: AMM) Berenguela silver copper manganese project which is hosted within a surface area of approximately 50 hectares. Berenguela hosts a current mineral resource estimate of 122.5 million ounces of silver in the Measured and Indicated categories and an additional 22.0 million ounces silver in the Inferred category. Palamina acquired the concession for US$18,000 outright with no royalties payable on the property.

Andrew Thomson, President of Palamina, commented: "In the last month Palamina has increased its land position in the Santa Lucia district by over 1,460 hectares through staking and acquisition. Roughly half of the surface area at Esperanza exhibits the same geology and copper manganese mineralization found at surface at the Berenguela deposit to the north west. Prior to acquiring Esperanza, Palamina concluded a remote sensing study over the Santa Lucia district in order to better understand regional geology. This study, along with a recent site visit, would suggest that Esperanza has the potential to host an extension to the Berenguela deposit. Palamina is focused on advancing its Galena silver copper manganese project, located in the same northeast southwest geological trend, through the drill discovery phase."

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/278488_179ebe9c948b6813_002full.jpg

A recent field visit at Esperanza, conducted by Palamina's geological team, identified the same outcropping limestone unit that hosts mineralization at the adjacent Berenguela deposit. At Berenguela, mineralization occurs within carbonate rocks of the Cretaceous Ayabacas Formation, which is tightly folded and trends NW-SE into the Esperanza concession. High-grade silver copper manganese mineralization at Berenguela occurs predominantly as manganese-rich gossans replacing the carbonate sequence.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/278488_179ebe9c948b6813_003full.jpg

Geological Summary and Next Steps

Palamina commissioned ALS Goldspot to acquire and process WorldView-3 data to generate a hyperspectral map of the whole Santa Lucia district. Initial results confirm that manganese minerals are the primary pathfinders for CRD-type mineralization in the region and that the main Berenguela manganese trend extends into the Esperanza concession.

Manganese is also the key pathfinder at Palamina's 100%-owned Galena silver copper manganese project and at the nearby historic Santa Barbara and Berenguela CRD mines. At Galena, recently released soil sampling results show that strong manganese anomalies coincide with outcropping silver and base-metal mineralization (NR December 1, 2025). Palamina plans to conduct detailed geological mapping and sampling at Esperanza in early 2026.

The technical information herein has been reviewed and approved by Alvaro Fernandez-Baca, P.Geo., a Qualified Person as defined by National Instrument 43-101. Mr. Fernandez-Baca has reviewed and approved the content of this news release.

About Palamina Corp.

Palamina is an exploration company with a land bank of gold projects in the Puno Orogenic Gold Belt in southeastern Peru and a land bank of high grade copper-silver assets in southeastern and northeastern Peru. Palamina trades on the TSX Venture Exchange under the symbol PA and on the OTCQB under the symbol PLMNF.

On Behalf of the Board of Directors:
Andrew Thomson, President
Phone: (416) 204-7536 | 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.

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements include, but are not limited to, the use of proceeds of the Offering and the Company's future business plans. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's continuous disclosure filings, which are available at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278488

FAQ

What did Palamina announce about the Esperanza concession (PLMNF) on December 18, 2025?

Palamina announced it acquired 100% of the Esperanza concession (60.75 ha) for US$18,000 with no royalties.

How close is Esperanza to the Berenguela deposit and why does it matter for PLMNF?

Esperanza lies adjacent to Berenguela; Berenguela hosts 122.5M oz Ag M+I plus 22.0M oz Ag Inferred, suggesting similar geology may extend into Esperanza.

What technical work has Palamina completed over the Santa Lucia district for PLMNF?

Palamina commissioned WorldView-3 hyperspectral mapping and processed data showing manganese pathfinders and trend extension into Esperanza.

What are Palamina's next exploration steps at Esperanza and timing for PLMNF investors?

Palamina plans to conduct detailed geological mapping and sampling at Esperanza in early 2026.

Does the Esperanza acquisition carry royalties for PLMNF shareholders?

No; the concession was acquired outright for US$18,000 with no royalties payable.