DIA Secured For Initial Drill Program At Gaban Gold Project

VANCOUVER - Winshear Gold Corp. has received its environmental permit, the Declaracion de lmpacto Ambiental (DIA), from the Ministry of Mines in Peru. The DIA allows for helicopter-supported drill testing of the Coritiri gold anomaly at the Gaban Gold Project, Puno Orogenic Gold Belt, southeastern Peru. Gaban is being investigated as a possible hard rock source of the extensive alluvial goldfields being mined downstream at Madre de Dios which now cover over 1,900 square kilometers.

Richard Williams, CEO, said, “Receipt of the DIA is a key milestone for Winshear and the continued development of the Coritiri Gold Target at Gaban. We now can apply for the provincial authorization to start activities in a process that typically takes one to three months. Subject to availability of funding, we plan to commence a heli-borne drill program after the coming rainy season ends in April 2023.

Meanwhile, the Company’s arbitration case against the government of Tanzania, seeking damages now in excess of CDN$130M, is set for a final hearing in mid-February, 2023, after which a decision is expected within six months. The Company plans to wait for the arbitration judgement before raising any further funding to support drilling.”