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

The most recent news (December 18, 2025) announces the 100% acquisition of the Esperanza mineral concession (60.75 hectares) in Peru for a cash payment of US$18,000 with no underlying royalties. The project is located southeast of the Berenguela Silver-Copper-Manganese deposit and is interpreted by management to be a potential extension of that mineralized trend. This follows the December 16 announcement of a completed $2.7 million private placement and the December 1 news identifying a 6km x 6km manganese anomaly at the flagship Galena project.

• Geological Synergy: The acquisition is strategically sound but small in scale. By securing Esperanza for a nominal cash fee and no royalty, Palamina consolidates a potential extension of a known district-scale deposit (Berenguela).
• Financial Context: While the acquisition is "Routine," its timing is only possible because of the $2.7M financing closed 48 hours prior. As of September 30, 2025, the company was functionally insolvent with only $18,829 in cash against over $1.6 million in short-term liabilities.
• Exploration Momentum: The acquisition adds to the "Galena" cluster, which management is pivoting toward as a Carbonate Replacement Deposit (CRD) target. However, the company has yet to drill-test these anomalies, meaning the "materiality" remains speculative until the drill bit proves mineralization at depth.

Palamina Corp. is a Peru-focused explorer. Its flagship is the Galena Silver-Copper-Manganese project. Historically, the company focused on orogenic gold at the Usicayos project, but recent exploration has pivoted toward CRD-style mineralization at Galena, where a large 6km x 6km manganese pathfinder anomaly has been identified. The company also recently regained 100% control of the Gaban (Gold) and Ica (Copper-Gold) projects from Winshear Gold.