Mr. Andrew Thomson reports

PALAMINA ANNOUNCES $2,500,000 PRIVATE PLACEMENT

Palamina Corp. will conduct a non-brokered private placement offering of up to 20 million units at a purchase price of 12.5 cents per unit for aggregate gross proceeds of up to $2.5-million. Each unit consists of one common share and one warrant. Each warrant is exercisable to acquire one common share at a price of 20 cents for a period of 24 months from the closing date unless the stock trades at 35 cents per share on a volume-weighted average basis over a 10-day period, at which point the company may determine to accelerate the expiration date of the warrants to 30 days following a press release announcing such.

Net proceeds of the offering will be directed toward advancing Palamina's Galena silver-copper-manganese project and Usicayos gold project, and general corporate and working capital purposes. The offering is subject to TSX Venture Exchange acceptance of regulatory filings. The company may pay cash finders' fees and warrants to eligible persons in accordance with applicable securities laws and regulatory policies.

About Palamina Corp.

Palamina is an exploration company with a land bank of high-grade copper-silver assets in southeastern and northeastern Peru and a land bank of gold projects in the Puno orogenic gold belt. Palamina has 71,634,836 shares outstanding, and trades on the TSX Venture Exchange under the symbol PA and on the OTCQB under the symbol PLMNF.

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