Yang Gold Project
Location: 3-5 km south of Winshear’s Gaban project in the Gaban District of southeastern Peru, with abundant hydroelectric power and regional commercial airports within 4 hours drive Concession Area: 4 concessions totaling 4000 hectares Ownership: 100% Winshear, subject to NSR royalty Status: Palamina has shared the following information with Winshear, along with Figure 1 below. GoldSpot completed for Palamina an Artificial Intelligence (“AI”) study of the POGB in order to generate AI target areas with the potential to host significant mineralization based on known data processed through their machine learning technologies. In the first quarter of 2022 GoldSpot concluded and presented Palamina with its interim results. The most significant of the open AI target areas was subsequently covered by Palamina’s Yin concession in May 2022.
WIN’s existing Yang project to the northwest covers the balance of the AI target area and was previously staked to cover historic mine areas seen from satellite images west of the Mucumayo mines area. To date neither Palamina nor WINS has visited or ground-truthed the Yin/Yang project areas. GoldSpot’s study of the POGB generated an AI target area of similar size and shape over the Mucumayo mines area. Winshear plans to conduct reconnaissance of Yang in Q2/Q3 2022.