Palamina Completes Mapping Sampling Program at the Cristel Copper Tin Project

Rhea-AI Summary

Palamina (OTCQB: PLMNF) completed mapping and sampling at its 100% owned Cristel copper-tin project in southeastern Peru on February 24, 2026. Surface rock and channel assays include high-grade copper results up to 4.43% Cu, with associated gold to 0.61 g/t and tin to 13 ppm.

Work is early-stage; gossan zones with no prior drill testing at Cristel were identified and historical drilling returned narrow, limited copper intervals.

Positive

• Surface copper assay up to 4.43% Cu
• Multiple >2% Cu rock-chip results (2.60%, 2.47%, 4.43%)
• Associated gold to 0.61 g/t in high-Cu sample

Negative

• Gossan zones at Cristel have never been drill tested
• Historical drilling: four holes intersected narrow 0.5–1% Cu intervals under 1 m

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Toronto, Ontario--(Newsfile Corp. - February 24, 2026) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) ("Palamina" or the "Company") has completed a sampling and mapping program at its 100% owned Cristel Copper Tin Project in south eastern Peru. Cristel is located approximately 40 kilometers north of Minsur S.A.'s San Rafael copper tin mine. San Rafael is characterized by unusual vertical metal zonation, where a high-grade copper deposit is found in the upper, near-surface levels, while the world-class tin mineralization is located at greater depths.

At Cristel, Palamina carried out rock chip sampling in 2022 and channel and rock chip sampling in late 2025. Select results are summarized below:

Table 1 - Results of rock & channel sampling from the Cristel Project

Sample  Number	Sample  Type	Length  (m)	Au  (g/t)	Ag  (g/t)	Cu  (%)	Fe  (%)	Sn  (ppm)
005946	Rock Chip	5.0	<0.005	0.8	0.04	13.40	<10
005947	Rock Chip	3.0	<0.005	0.6	0.07	>15	<10
005948	Rock Chip	3.0	0.10	1.1	0.12	>15	<10
005949	Rock Chip	15.0	0.19	<0.2	0.04	>15	<10
005950	Rock Chip	15.0	0.18	24.7	3.70	>15	<10
005951	Rock Chip	10.0	0.41	6.5	2.60	>15	11
005952	Rock Chip	5.0	0.32	3.7	2.47	12.24	<10
005954	Rock Chip	5.0	0.61	4.5	4.43	>15	12
008896	Channel	2.0	<0.005	<0.2	0.04	8.51	<10
008897	Channel	2.0	<0.005	<0.2	0.04	12.67	<10
008898	Channel	2.0	<0.005	<0.2	0.03	11.23	<10
008900	Channel	2.0	<0.005	<0.2	0.04	11.04	<10
008901	Channel	2.4	<0.005	<0.2	0.08	13.37	<10
008902	Channel	2.2	<0.005	<0.2	0.04	14.33	<10
008903	Channel	2.2	<0.005	<0.2	0.07	10.91	<10
008904	Channel	2.2	<0.005	<0.2	0.05	17.02	<10
008907	Channel	2.0	<0.005	<0.2	0.05	16.77	<10
008908	Channel	2.0	<0.005	<0.2	0.04	23.84	<10
008909	Channel	0.0	<0.005	<0.2	0.03	13.96	<10
008910	Channel	1.9	0.01	<0.2	0.02	18.85	<10
008911	Channel	2.2	<0.005	<0.2	0.05	23.16	<10
008913	Channel	2.2	<0.005	<0.2	0.05	23.68	<10
008915	Channel	2.2	<0.005	<0.2	0.06	18.88	<10
008919	Channel	2.0	<0.005	<0.2	0.06	23.47	<10
008920	Channel	2.0	<0.005	<0.2	0.02	14.42	<10
008925	Channel	1.7	<0.005	<0.2	0.00	9.80	<10
008927	Channel	2.0	0.01	<0.2	0.01	16.94	<10
008929	Channel	2.0	<0.005	<0.2	0.06	24.07	<10
008930	Channel	2.0	<0.005	<0.2	0.02	16.27	<10
008931	Channel	2.2	0.01	<0.2	0.03	24.56	<10
008932	Rock Chip	4.0	0.32	1.8	1.89	9.78	13
008933	Channel	1.5	<0.005	<0.2	0.23	3.48	<10

 

Figure 1 - Location of chip & channel samples at the Cristel Project

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Andrew Thomson, President of Palamina, commented, "The mapping and sampling program completed at Cristel was designed to investigate the potential for Cristel to host a surface copper deposit and a significant tin deposit at depth, similar to Minsur S.A.'s San Rafael copper-tin deposit located approximately 40 km to the south. San Rafael sits within the prolific Central Andean tin belt, which extends into Bolivia. San Rafael is the world's highest-grade primary tin deposit. A rock chip sample from the sulphide gossan zone at Cristel returned 4.43% copper, 0.61 g/t gold, and 12 ppm tin. Drill testing of the gossan zones at Cristel has never been carried out."

Colour anomaly at south end of Cristel project

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Sample 8933: 0.23 % Cu within monzonite intrusive

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Geological Summary

The geology of the Cristel Project is dominated by metasedimentary rocks of the Ordovician Sandia Formation, which have been intruded by stocks, sills and dikes of intermediate granitic rocks. Work at Cristel is in the early stages, but mineralization is thought to represent a magmatic-hydrothermal system with mineralization spatially related to the dikes.

Broadly speaking, mineralization consists of veins and veinlets of quartz and sulfides (and their weathering products), hydrothermal breccias, and silicified meta-sandstones. Where unoxidized, mineralization occurs as pyrite, pyrrhotite, arsenopyrite, chalcopyrite and bornite. When oxidized, mineralization consists of gossans of iron and manganese oxides with associated secondary copper minerals and scorodite. Gangue minerals include quartz, calcite and siderite. It is the oxidized sulfides across the Property that create a prominent "color anomaly" that can be observed from distance.

In detail, two vein systems are present. The northern system consists of veins two to six meters in width, and the southern system consists of veins up to 15 meters in width.

Significant structures with strong alteration

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 Sulphide vein within gossan zone

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Property History

Small historical workings are scattered across the property, focused primarily on veins and gossans. In the early 2000's Desafil Minero S.A.C., a subsidiary of Consorcio Minero Horizonte ('Horizonte'), conducted ground magnetics and induced polarization surveys on a portion of the property. Rock samples were also collected at this time. No data from this work is available, although some small geophysical maps are available in a student thesis.

In 2008, four holes of a planned 18-hole core drilling program were completed by Horizonte over a total of 2,227 meters. The holes were designed to test the down-dip projection of mineralization encountered at surface, or geophysical anomalies. No detailed results are available, but two of the four holes intersected narrow mineralized intervals ranging between 0.5% and 1% copper over less than 1 meter. It is noteworthy that the holes are drilled in the opposite direction (away from) the bulk of the sampling by Palamina.

Technical Note on Sampling

In most cases, channel samples, ranging in length from 1.5 to 2.0 meters were cut using a rock saw and material was removed by hammer and chisel and placed into sample bags. Samples were delivered to the Certimin S.A. sample preparation facility in Juliaca. Sample pulps were then transported by Certimin S.A. to their laboratory in Lima, where they were analyzed for 36 elements.

QAQC consists of the regular insertion of certified reference materials of known value and blank material. Results are analyzed upon receipt of results and concerns addressed immediately.

The technical information herein has been reviewed and approved by Steve Preismeyer, C.P.G., a Qualified Person as defined by National Instrument 43-101. Mr. Preismeyer acts as a consultant to Palamina.

About Palamina

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 silver-copper 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 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.

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/285007

FAQ

What were the highest surface assay results reported by Palamina at Cristel (PLMNF)?

The highest reported surface assay was 4.43% Cu with 0.61 g/t Au and 12 ppm Sn. According to Palamina, this result came from a sulphide gossan rock chip collected during the mapping program.

Has Palamina (PLMNF) drilled the high-grade gossan zones at Cristel?

No, Palamina has not drilled the gossan zones at Cristel; they remain untested by drilling. According to Palamina, the program to date was mapping and surface sampling only, highlighting targets for future drill testing.

How do Cristel assay results compare to nearby San Rafael for PLMNF investors?

Cristel shows high-grade surface copper assays like 4.43% Cu, but it is early-stage and not directly comparable to San Rafael. According to Palamina, San Rafael is a deeper, world-class tin-copper system nearby in the same belt.

What rock and channel sampling methods did Palamina use at Cristel (PLMNF)?

Palamina used rock chip and channel samples (typically 1.5–2.0 m) cut with a rock saw and sampled by hammer and chisel. According to Palamina, samples were prepared at Certimin in Juliaca and analysed in Lima with QAQC protocols.

Are there any historic drill results at Cristel relevant to PLMNF shareholders?

Historic work included four core holes (2008) totaling 2,227 m; two holes hit narrow mineralized intervals of 0.5–1% Cu over <1 m. According to Palamina, the historic holes were drilled opposite Palamina's sampling orientation.

What is the geological setting and exploration significance of Cristel for PLMNF?

Cristel sits in Ordovician metasediments intruded by intermediate granitic rocks and shows magmatic-hydrothermal mineralization with quartz-sulfide veins and gossans. According to Palamina, oxidized sulfides create a visible color anomaly that helps target exploration.