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Palamina Announces Grant of Options

TORONTO, April 06, 2018 (GLOBE NEWSWIRE) -- Palamina Corp. ("Palamina" or the "Company") announced that it has granted 950,000 incentive stock options to certain officers, directors and consultants of the Company under its Stock Option Plan.  All options are exercisable at $0.39 per common share.  The options granted to officers and directors expire in 5 years and the options granted to the consultants expire in 3 years.

ABOUT PALAMINA

Palamina is directed by a group of proven mine finders focused on securing mining assets in the America's with the potential to host significant gold deposits. Palamina has acquired the application and mining rights to five areas in the Puno gold belt and one project in the coastal I.O.C.G. belt in Southern Peru and holds 100% interest in one exploration project in Mexico. Palamina has 29,891,371 shares outstanding and trades on the TSX Venture Exchange under the symbol PA.

FOR FURTHER INFORMATION PLEASE CONTACT:
Andrew Thomson, President
Phone: (416) 987-0722 or visit www.palamina.com

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.sedar.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.

/Not for distribution to U.S. news wire services or dissemination in the United States/

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