202615 releases
Winshear Receives TSXV Approval for the Thunder Bay Gold Project Assessment Credit and Property Purchase
Final TSX Venture Exchange approval has been received for Winshear Metals' agreement to acquire mineral exploration credits relating to claim 908950 at the Thunder Bay Project in Ontario, carrying an exploration assessment credit of $608,083. The Company will issue 1,000,000 shares and 500,000 warrants to the Vendors, with the warrants exercisable at $0.20 per share for three years, ending August 20, 2029. The shares are subject to a four-month-plus-one-day hold period ending December 21, 2026.
AcquisitionWinshear Reports Drill Results from the Rodburn Target, Portsoy Project, NE Scotland
Drilling at the Rodburn Target, Portsoy Project, NE Scotland returned 8.15m grading 0.77% Ni, 1.14% Cu and 0.05% Co, including 6.0m at 0.98% Ni, 1.51% Cu and 0.06% Co in hole RBD029, extending South Zone mineralization 100m down-dip. RBD030 cut 4m at 0.29% Ni and 0.18% Cu a further 100m down-dip, and downhole EM identified an untested conductor 100m east. At the North Zone, RBD028 intersected 3m at 0.98% Ni and 4m at 0.76% Ni within 16m grading 0.39% Ni, extending mineralization 100m west. The six-hole program totalled 1,235.6m.
Drill resultsWinshear Portsoy Project - Successful Metallurgical Testwork Produces Marketable Copper and Highly Attractive Nickel Concentrates
First metallurgical testwork on nickel-copper-cobalt mineralisation from the Rodburn Target at the Portsoy Project in NE Scotland indicated copper recoveries of 75-80% and nickel recoveries of 60-65% using conventional sequential flotation, from a composite sample with head assays of 0.82% copper, 1.64% nickel (1.38% nickel in sulphide) and 0.11% cobalt. Nickel concentrate grades of 14-16% with over 1% cobalt and 0.54% copper were produced, alongside copper concentrates grading about 25% with under 1% nickel. Testwork was conducted by Blue Coast Research Ltd; locked-cycle studies are anticipated.
Study resultsWinshear Portsoy Project - Downhole Electromagnetic Survey Outlines Strong Conductor in the South Zone Close to Recent Drilling
A downhole electromagnetic survey at the Portsoy Nickel-Copper-Cobalt Project in northeast Scotland has identified a strong conductor with characteristics of a massive sulphide body, near the 460m long drill hole RBD030 in the South Zone of the Rodburn Target. The north-northwest plunging conductor is modelled as over 350m long by 50m wide, above and about 100m east of the end of RBD030, and remains open to depth. Winshear plans to test the target in its next drill round.
Drill resultsWinshear Provides Update on Thunder Bay Project, Purchases Assessment Credit
A summer field program is underway at the Thunder Bay Gold Project in NW Ontario, executed by Fladgate Exploration, comprising soil sampling over the Inflection, MacGregor, El Dorado and Kingfisher targets, till sampling over newly staked claims northeast of Kingfisher, and airborne magnetic surveys over Inflection and El Dorado, with completion expected by late July. New claims cover a 14km NE extension of the Kingfisher Target. Winshear will also acquire a $608,083 exploration assessment credit on claim 908950 for 1,000,000 shares and 500,000 warrants exercisable at $0.20 for three years, subject to TSX-V approval.
CorporateWinshear Announces Change of Auditor
Winshear Metals Corp. has changed its auditor from McGovern Hurley LLP to Davidson & Company LLP, with the former auditor resigning at the Company's request effective May 27, 2026 and the successor appointed by the Board effective the same date, subject to shareholder approval at the next Annual General Meeting. There were no modified opinions in the former auditor's reports over the two most recent financial years and no reportable events under Section 4.11 of NI 51-102.
CorporateWinshear Successfully Completes Phase 1 Drill Program and Downhole EM Survey at the Portsoy Nickel-Copper-Cobalt Project, Scotland
A six-hole, 1,235.6m Phase 1 drill program has been completed at the Rodburn Target on the Portsoy nickel-copper-cobalt project in Aberdeenshire, Scotland, with four holes in the North Zone (524.5m) and two in the South Zone (711.1m); assays are pending. RBD028 showed disseminated sulphides over 69.5m from 18.1m to 87.6m, and RBD029 intersected main sulphide mineralization from 218m to 226m, extending that zone at least 80m down dip. A downhole EM survey in RBD030 detected a strong off-hole conductor for follow-up drilling.
Drill resultsWinshear Metals Adopts Semi-Annual Financial Reporting
Winshear Metals will move from quarterly to semi-annual financial reporting under CSA Coordinated Blanket Order 51-933, as adopted by the B.C. Securities Commission. The Company, whose fiscal year ended March 31, will not file interim reports or MD&A for the first quarter ending June 30 and third quarter ending December 31, in 2026 and future years. It will continue filing audited annual statements within 120 days of year-end and six-month interim reports within 60 days of September 30.
CorporateWinshear Grants 2,000,000 Stock Options
2,000,000 incentive stock options have been granted to directors, officers, employees and consultants at an exercise price of $0.15 per share, expiring April 17, 2031 and vesting quarterly over the next 12 months. Of these, 1,900,000 went to directors and officers. Winshear now has 5,700,000 options outstanding, representing 8.23% of issued and outstanding share capital, against a plan limit of 10%.
CorporateWinshear Receives $170,000 Non-Dilutive Funding Through the Ontario Junior Exploration Program (OJEP)
Non-dilutive funding of $169,892 has been received from the Ontario government under the Ontario Junior Exploration Program, covering 50% of qualifying exploration expenditures at the 360km2 Thunder Bay Project northeast and east of Thunder Bay, NW Ontario. The 2025 program included 272 reconnaissance till samples, 565 soil samples and 314 rock samples, with gold assays defining four targets: Inflection, MacGregor, El Dorado and Kingfisher. Planned 2026 work comprises infill soil sampling grids followed by airborne magnetics.
CorporateWinshear Reports Additional Soil Sampling Results from the 2025 Exploration Program at the Thunder Bay Project
Soil and till sampling results from the 2025 program at the 360km2 Thunder Bay Project in Ontario identified gold targets at Inflection, El Dorado and MacGregor. A total of 272 reconnaissance till samples and 565 B horizon soil samples were collected and analyzed by FA AA and, subsequently, by INAA; INAA soil assays reached 299 ppb Au at Inflection, and the ~10km long MacGregor Target returned 120 ppb Au in till. A secondary Kingfisher target was identified, with the land position expanded. 2026 work includes infill soil grids and airborne magnetics.
Drill resultsWinshear Gold Corp. to Change Name to Winshear Metals Corp.
A name change to Winshear Metals Corp. will take effect, with shares expected to begin trading under the new name at the market open on or about March 20, 2026. The TSX Venture Exchange symbol remains WINS, while the ISIN and CUSIP will change to CA9749101015 and 974910101. Existing share certificates are unaffected and shareholders need not take action. The company is exploring the Thunder Bay Gold Project in Ontario and has begun drilling at the Portsoy nickel-copper-cobalt project in Scotland.
CorporateWinshear Commences Drill Program at the Portsoy Project
A diamond drill program has begun at the Portsoy nickel-copper-cobalt project in Aberdeenshire, Scotland, targeting the North and South Zones at the Rodburn Target, with Mineral Exploration Drilling Limited engaged as contractor. Downhole EM surveys will be run in selected holes to guide future drilling. Previous 2023/2024 drilling by Peak Nickel returned intervals including 12.26 m at 1.02% Ni, 0.83% Cu and 633 ppm Co in RBD004, and 35.4 m at 0.71% Ni in RBD002.
Drill resultsWinshear Gold Closes Private Placement
A non-brokered private placement of 25,000,000 Units closed for gross proceeds of $2,500,000, with each Unit comprising one common share and one half warrant exercisable at $0.20 for 36 months to March 2, 2029. Finder fees of $48,375 cash and 459,000 warrants were paid to Haywood, Ventum, Canaccord Genuity and Research Capital; securities are subject to a hold period expiring July 3, 2026. Proceeds will fund exploration at the Portsoy Project in Scotland and general working capital. Directors and officers bought 2,150,000 Units.
FinancingWinshear Gold Announces $2,500,000 Private Placement
A non-brokered private placement of 25,000,000 Units at $0.10 per Unit for gross proceeds of $2,500,000 has been announced, each Unit comprising one common share and one half warrant exercisable at $0.20 for 36 months from closing. Finder's fees of up to 6% cash and a 6% warrant may be paid. Proceeds will fund a drill program at the Portsoy nickel-copper-cobalt project in Scotland and general working capital, subject to TSX Venture Exchange approval.
Financing
202513 releases
Winshear Receives TSX-V Consent for the Option Agreement on the Portsoy Nickel-Copper-Cobalt Project, Scotland
Final TSX Venture Exchange approval has been received for the arms-length option agreement with Peak Nickel Limited, under which Winshear can earn a 100% interest in the 250km2 Portsoy nickel-copper-cobalt project in Aberdeenshire, Northeast Scotland, by spending £3,000,000 over five years (minimum £300,000 per year) and issuing 6,500,000 shares, with Peak Nickel retaining a 1% NSR capped at £10 million. An NI 43-101 technical report recommends a minimum 1,000 m of diamond drilling, downhole EM surveys and initial metallurgical testwork, budgeted at CAD$560,000, with work anticipated to begin in Q1 2026.
AcquisitionWinshear Reports AGM Results and Issues Incentive Stock Options
All matters put to shareholders at Winshear Gold's Annual General Meeting, held October 20, 2025, were approved unanimously. The Board also approved the issuance of 1,600,000 incentive stock options to directors, officers and consultants at an exercise price of $0.13 per share, expiring October 22, 2030 and vesting quarterly over the next 12 months, of which 1,550,000 went to directors and officers. The Company now has 3,700,000 options outstanding, representing 8.36% of issued and outstanding share capital.
CorporateWinshear Reports Regional Scale Gold Geochemical Anomaly at the Thunder Bay Gold Project, Ontario
A six kilometre-long trend of anomalous gold-in-till samples, named Inflection, has been identified at the Thunder Bay Gold Project in NW Ontario, with values ranging from 10 ppb to 44 ppb gold. The reconnaissance program comprised 152 basal till samples, 154 prospecting samples and 9 argillite samples; additional targets include El Dorado and central and northern areas. A Phase II program of about 150 till samples, 600 B horizon soils and 250 prospecting samples begins within two weeks, with drone magnetic surveys under consideration.
Drill resultsWinshear Enters Option Agreement on the Portsoy Nickel-Copper-Cobalt Project, Scotland
An option agreement signed August 7, 2025 with Peak Nickel Limited allows Winshear to earn a 100% interest in the 250km2 Portsoy nickel-copper-cobalt project in Aberdeenshire, Northeast Scotland, subject to TSX-V approval. Terms require £3,000,000 in spending within five years (minimum £300,000 annually), 1,000m of drilling with downhole EM and metallurgical testwork, and issuance of 6,500,000 shares over five years; Peak Nickel retains a 1% NSR capped at £10 million. Winshear paid £65,000 on execution.
AcquisitionWinshear Receives TSXV Approval to the Thunder Bay Gold Project, NW Ontario and Grants Director Stock Options
Final TSX Venture Exchange approval was received on July 17, 2025 for a property option agreement allowing Winshear to earn a 100% interest in the 360km2 Thunder Bay Gold Project, northeast of Thunder Bay, Ontario. The Company issued 100,000 shares to each of two vendors and must spend a minimum $250,000 within six months and a further $250,000 by the second anniversary, plus advance royalties of $50,000 annually in years 5–9, $60,000 in years 10–14 and $500,000 by year 15, with 250,000 shares payable on filing a 43-101 resource of at least 1 million gold-equivalent ounces. Winshear also granted 250,000 five-year options at $0.13 to new director Andrew MacRitchie.
CorporateWinshear Appoints Andrew MacRitichie to the Board of Directors
Andrew MacRitchie has joined the Board of Directors of Winshear Gold Corp., effective immediately. MacRitchie is a Chartered Professional Accountant with over 25 years of leadership experience in publicly listed exploration and mining companies, has helped raise more than $1.5 billion in capital, began his career at PricewaterhouseCoopers, and currently serves as Chief Financial Officer of Skeena Resources. Winshear recently commenced a regional exploration programme at the Thunder Bay Gold Project in NW Ontario.
ManagementWinshear Closes Oversubscribed Private Placement
A non-brokered private placement of 12,633,333 Units closed for gross proceeds of $757,999.98, each Unit comprising one common share and one half warrant exercisable at $0.12 until June 24, 2027. Finder fees of $25,680 cash and 339,000 Warrants were paid, and directors and officers bought 1,100,000 Units; the hold period expires October 25, 2025. Proceeds will fund exploration at the Thunder Bay Gold Project, whose acquisition remains subject to final TSXV acceptance.
FinancingWinshear Announces Change to the Board of Directors
Andrew Thomson, CEO of Palamina Corp., has resigned from Winshear Gold Corp.'s Board of Directors. The resignation follows Winshear's decision to relinquish the Gaban and Ica projects in Peru and transfer them back to Palamina Corp.
ManagementWinshear Gold Increases Private Placement to $750,000
The non-brokered private placement announced on May 28, 2025 has been increased to $750,000. Units are priced at $0.06, each comprising one common share and one half warrant, with each full warrant exercisable at $0.12 for 24 months from closing. Proceeds will advance the Thunder Bay Gold Project in northwestern Ontario, which Winshear has agreed to acquire a 100% interest in, and fund general working capital. Closing is subject to TSX Venture Exchange approval.
FinancingWinshear Gold Announces $500,000 Private Placement
A non-brokered private placement of up to 8,333,333 Units at $0.06 per Unit for gross proceeds of $500,000 was announced, with each Unit comprising one common share and one half warrant exercisable at $0.12 for 24 months from closing. Proceeds will advance the Thunder Bay Gold Project in northwestern Ontario, which Winshear has agreed to acquire a 100% interest in, and for general working capital. Closing is subject to TSX Venture Exchange approval, with a four month and one day hold period.
FinancingWinshear Enters Earn-in Agreement on the Thunder Bay Gold Project, NW Ontario
An earn-in agreement, subject to TSX Venture Exchange approval, gives Winshear the right to acquire a 100% interest in the 360km2 Thunder Bay Gold Project northeast of Thunder Bay, Ontario, by issuing 1,000,000 common shares over four years and spending $2,000,000 on exploration, with a minimum $250,000 in the first six months. Vendors retain a 2% NSR, half purchasable for $500,000 and the remainder for $5,000,000. Regional geochemical prospecting and till sampling are planned to commence as soon as practicable.
AcquisitionWinshear Relinquishes the Gaban and Ica Projects in Peru and is Seeking New Opportunities
The Gaban and Ica projects in Peru are being relinquished, with the projects offered for transfer back to Palamina. Winshear holds C$1.3 million in cash and is assessing new investment opportunities, prioritizing projects in stable jurisdictions focused on critical metals and gold.
AcquisitionWinshear Reports Drilling Results from the Coritiri Zone, Gaban Gold Project in Peru
Maiden drilling at the Coritiri Zone of the Gaban Gold Project in south-eastern Peru returned 4m grading 3.78 g/t Au from 93m, including 1m at 14.74 g/t Au, and 21m grading 1.29 g/t Au from 102m in hole Gaban 24-02, plus 4m grading 5.04 g/t Au from 189m in hole Gaban 24-04. Four diamond drill holes totalling 1,005 metres were completed in late 2024 from two drill sites 100 metres apart.
Drill results
20248 releases
Winshear Completes 1,005 metres of Drilling in Four Diamond Drill Holes at the Gaban Gold Project in Peru
A maiden drill program at the Gaban Gold Project in southeastern Peru has been completed, comprising four diamond drill holes totalling 1,005 metres from two drill sites 125 m apart at the Coritiri Gold Zone. Drilling confirmed weakly to moderately sheared intercalated slate and fine siltstones cut by millimetre to centimetre quartz veins hosting pyrite, pyrrhotite and traces of chalcopyrite. The program was curtailed by early heavy rains; assays are expected in Q1 2025.
Drill resultsWinshear Gold Corp. AGM – Continuing Canadian Mail Strike and Availability of AGM Meeting and Voting Material
Because of the ongoing Canada Post labour strike, materials for Winshear Gold's annual general meeting — notice of meeting, management information circular, annual return card and form of proxy — are available on the company's SEDAR+ profile at www.sedarplus.ca as posted on November 21, 2024, and on its website, along with audited financial statements for March 31, 2024. Shareholder votes must be received by 1 p.m. on Tuesday December 17, 2024. The company is relying on CSA Coordinated Blanket Order 51-931, adopted by the British Columbia Securities Commission on December 4, 2024.
CorporateWinshear Secures Drill and Helicopter Contracts for the Upcoming Drill Program at the Gaban Gold Project, Peru
Contracts have been signed with Energold Drilling Peru S.A.C. and Servicios Aereos de los Andes S.A.C. for drilling and helicopter services ahead of an inaugural drill program at the Gaban Gold Project in south eastern Peru, with drilling expected to start before the end of September and equipment mobilization scheduled for September 21. Prior work defined the 2,200 x 1,000-metre Coritiri Zone, with channel samples assaying up to 11.2 g/t Au and stream sediments up to 5 g/t Au.
CorporateWInshear Appoints Mr. Patricio Varas to the Board of Directors
Patricio Varas has been appointed to the board of directors of Winshear Gold Corp., effective immediately. Varas is a Professional Geoscientist and mining executive with over 38 years' experience and has served as the Company's President since April this year. Winshear is working towards a first-ever drill programme testing the Coritiri Target at the Gaban Gold Project in the Puno region of Peru, planned to start in Q3 2024.
ManagementWinshear Grants 2,100,000 Incentive Stock Options
2,100,000 incentive stock options have been granted to directors, officers, employees and consultants at an exercise price of $0.13 per share, expiring August 27, 2029 and vesting quarterly over the next 12 months. Of these, 2,050,000 went to directors and officers, and the total outstanding options of 2,100,000 represent 6.69% of issued and outstanding share capital. Winshear is preparing to drill the 2.2km x 1.1km Coritiri gold target at its Gaban Gold Project in Peru's Puno region, with drilling expected to begin in September 2024.
CorporateWinshear Commences Construction of Drill Roads and Field Camp Ahead of its Maiden 1,600m Drill Program at the Gaban Gold Project in Peru
Field activities have begun at the Gaban Gold Project in SE Peru, including construction of an access road to the Coritiri Gold Zone, a staging field camp and preparation of five drill sites ahead of a helicopter-supported diamond drill program of at least 1,600m. Road construction is expected to take around two months. Previous channel and quartz vein sampling outlined a gold mineralized shear zone over a one kilometre by two kilometre area, with grades up to 11.2 g/t Au; the drilling will be the property's first.
CorporateWinshear Appoints Patricio Varas as President
Patricio Varas has been appointed President of Winshear Gold Corp., effective immediately. Varas is a Professional Geoscientist and mining executive with over 38 years' experience in mineral exploration, mine development and corporate management. Mark Sander has stepped down as President and will remain a Director. The Company is working towards a first-ever drill programme testing the Coritiri Target at the Gaban Gold Project in Peru's Puno region, planned to start in Q3 2024.
ManagementWinshear Gold Announces Share Consolidation
A three-for-one share consolidation will take effect with post-consolidated trading beginning February 13, 2024 on the TSX-V under the existing symbol WINS, reducing shares outstanding from 94,255,895 to approximately 31,418,631, with fractions rounded to the nearest whole number. The company retained about Cdn$3m after its Cdn$25m return of capital in December 2023 to fund an inaugural drill program at the Gaban gold project in Puno, SE Peru, expected to start in June 2024.
Corporate
202311 releases
Winshear's CDN $0.25 Per Share Return of Capital and Due Bill Trading Schedule
The CDN $0.25 per common share return of capital announced on October 26, 2023 will be paid on December 8, 2023 to shareholders of record as of the close of business on November 23, 2023. Winshear's shares will trade on a due bill basis from the opening on November 22, 2023 through December 8, 2023 inclusive, with sellers in that period not entitled to the distribution, and will trade ex-distribution from the opening on December 11, 2023, with due bill redemption on December 12, 2023.
CorporateWinshear to Pay CDN $0.25 per Share Return of Capital
A return of capital payment of CDN $0.25 per common share will be made to shareholders, following the US$30 million settlement reached with the Government of the United Republic of Tanzania announced October 16, 2023. The record date is Thursday, November 23, 2023 and the payment date is Friday, December 8, 2023, payable in Canadian dollars unless otherwise determined. The Company intends to retain capital to complete a first pass drill programme at the Gaban Gold Project in Peru in the second quarter of 2024.
CorporateWinshear and United Republic of Tanzania Conclude US$30 Million Settlement Agreement
A US$30,000,000 settlement with the United Republic of Tanzania over the SMP Gold Project dispute has been concluded, terminating the arbitration proceedings, with funds received October 16, 2023. After funding and legal costs, the net amount to Winshear is approximately C$25,275,000 (US$18,500,000). The Company will review options for the funds and announce a decision in due course.
CorporateWinshear Gold Provides Update on Tanzania Arbitration
Arbitration proceedings against the Republic of Tanzania have been suspended after Winshear and Tanzania reached a conditional settlement agreement, with no guarantee it will be concluded. The case sought recovery of the company's investment in the SMP gold project in Tanzania, with an evidentiary hearing held in February 2023. Winshear secured up to US$3.3M in litigation funding from Delta Capital Management LLC in 2020, and a portion of any proceeds is payable to funders and legal counsel.
CorporateWinshear Gold Comments on Move in Share Price
The recent move in Winshear's share price is attributed to its ICSID arbitration against the Tanzanian Government over the expropriation of its SMP Gold Project, following news that ASX-listed Indiana Resources was awarded US$109.5 million plus US$3,859,161 in legal costs in its own case against Tanzania. Winshear is seeking in excess of CDN$130M plus interest and costs, with a US$3.3M litigation funding facility from Delta Capital Partners Management covering legal costs. Its February 2023 hearing outcome is pending.
CorporateWinshear Gold Closes Oversubscribed $585,000 Private Placement
A non-brokered private placement of 5,850,000 Units at $0.10 per Unit closed for gross proceeds of $585,000, with each Unit comprising one common share and one half warrant exercisable at $0.15 until May 9, 2025; cash commissions of $15,000 were paid and insiders bought 200,000 Units. Proceeds are for general working capital as the company advances the Gaban Gold Project in south eastern Peru toward drilling and awaits a judgement in its arbitration against Tanzania, seeking over $130 million.
FinancingWinshear Gold Announces $500,000 Private Placement
A non-brokered private placement of up to 5,000,000 Units at $0.10 per Unit for gross proceeds of $500,000 has been launched, with each Unit comprising one common share and one half warrant exercisable at $0.15 for 24 months from closing. Proceeds will be used for general working capital. The placement is subject to TSX Venture Exchange approval, with a four month and one day hold period; a finder's fee may be paid.
FinancingWinshear Announces that the Video Recording of the Arbitration Hearing Against the Government of Tanzania is Now Online
The complete video recording of the evidentiary hearing in Winshear's arbitration against the United Republic of Tanzania is now available online. The hearing was held February 13 to February 16, 2023 at the Washington offices of ICSID, with Winshear represented by LALIVE and Boies Schiller Flexner and seeking compensation in excess of CDN$130M for the loss of its SMP Gold Project investment, plus arbitration costs and fees. A US$3.3M litigation funding facility with Delta Capital Partners Management covers all legal costs, repayable only on a successful award.
CorporateWinshear Gold Completes Arbitration Hearing Against the Government of Tanzania for the Expropriation of Its SMP Gold Project
The evidentiary arbitration hearing against the Government of Tanzania over the expropriation of the SMP Gold Project concluded on Thursday February 16, 2023 at the Washington offices of ICSID. Winshear is seeking compensation in excess of CDN$130M plus interest, along with reimbursement of arbitration costs and fees, represented by LALIVE and Boies Schiller Flexner. A US$3.3M litigation funding facility with Delta Capital Partners Management covers legal costs and is repayable only on a successful recovered award.
CorporateWinshear Gold Commences Arbitration Proceedings Against the Government of Tanzania for the Expropriation of its SMP Gold Project
The evidentiary hearing in Winshear's ICSID arbitration against the United Republic of Tanzania began February 13, 2023 in Washington D.C., before a three-person tribunal, and is expected to conclude on or before the close of business on Friday February 17, 2023. The claim seeks compensation in excess of CDN$130M for the expropriation of the SMP Gold Project in Tanzania, plus reimbursement of arbitration costs and fees. A US$3.3M litigation funding facility with Delta Capital Partners Management covers all legal costs, repayable only on a successful recovered award.
Corporate
20227 releases
Winshear Grants 2,000,000 Incentive Stock Options
2,000,000 incentive stock options have been granted to directors, officers, employees and consultants at an exercise price of $0.10 per share, expiring October 22, 2027 and vesting quarterly over the next 12 months. Of these, 1,600,000 went to directors and officers. The Company now has 5,050,000 options issued, representing 7.0% of issued and outstanding share capital, under a plan allowing up to 10%.
CorporateWinshear Secures DIA for Initial Drill Program at its Gaban Gold Project in Peru
Peru's Ministry of Mines has granted the Declaracion de lmpacto Ambiental (DIA) environmental permit for helicopter-supported drill testing of the Coritiri gold anomaly at the Gaban Gold Project in the Puno Orogenic Gold Belt, southeastern Peru. The company must still obtain provincial authorization, a process typically taking one to three months, and plans to start the heli-borne drill program after the rainy season ends in April 2023, subject to funding. Coritiri covers a 1 km by 2.2 km area, never drill tested, with channel sampling returning up to 32.35 grams per tonne gold over 1m.
CorporateWinshear Reports Results of Annual and Special General Meeting
All resolutions were approved at Winshear Gold's Annual and Special General Meeting held September 30, 2022, with votes representing 19,103,760 shares cast, or 26.37% of shares issued and outstanding at the record date. Danièle Spethmann, P.Geo., President and CEO of Warrior Gold, was appointed to the board, replacing Alistair Waddell as a nominee of Palamina, which holds a 19.9% equity interest in Winshear.
CorporateWinshear Gold Closes Oversubscribed $651,300 Private Placement
A non-brokered private placement of 10,855,000 Units at $0.06 per Unit closed for gross proceeds of $651,300, each Unit comprising one common share and one half warrant exercisable at $0.10 until August 19, 2024, with $8,250 in cash commissions paid and a hold period expiring December 20, 2022. Insiders bought 2,350,000 Units, including 1,550,000 by Palamina Corp., giving it a 19.99% partially diluted position. Proceeds are for exploration, corporate development and working capital, advancing the Gaban Gold Project in south eastern Peru toward drilling.
FinancingWinshear Increases Private Placement to $650,000
A non-brokered private placement first announced July 22, 2022 has been increased to $650,000, consisting of up to 10,833,333 Units at 6c per Unit, each Unit comprising one common share and one half warrant exercisable at 10c for 24 months from closing. Closing is expected on or about August 19, 2022, subject to TSX Venture Exchange approval. Proceeds will fund exploration, corporate development and general working capital, with focus on advancing the Gaban Gold Project in south eastern Peru.
FinancingWinshear Gold Announces $500,000 Private Placement
A non-brokered private placement of up to 8,333,333 Units at $0.06 per Unit for gross proceeds of $500,000 has been launched, with each Unit comprising one common share and one half warrant exercisable at $0.10 for 24 months from closing. Proceeds will advance the Gaban Gold Project in southeastern Peru and fund general working capital. Completion is subject to TSX Venture Exchange approval, and securities carry a four month and one day hold period.
FinancingWinshear Provides Corporate and Exploration Updates
The ICSID arbitration over Winshear's US$95.5 million (CAD$124.8 million) expropriation claim against the Government of Tanzania for the SMP Gold project remains on schedule for a hearing in the first half of 2023, with up to US$3.3 million (CAD$4.3 million) of third-party arbitration funding secured in return for a time- and amount-dependent share of any award. A one-month reconnaissance sampling program at the Ica IOCG project in Peru returned values up to 6.09% copper and 2.6 g/t gold from 100 channel samples; a ground geomagnetic survey is planned.
Corporate