Winshear Gold Appoints New President

VANCOUVER, British Columbia, July 02, 2020 (GLOBE NEWSWIRE) — Winshear Gold Corp. (TSX-V: WINS) is pleased to announce that Dr. Mark V. Sander has agreed to join the management team of the Company as President. His role will focus on accelerating exploration and development of the Company’s Peruvian properties as the country reopens from Covid-19-related curtailments. Dr. Sander currently serves as a member of the Board of Directors of Winshear Gold.

Dr. Sander holds a PhD in Ore Deposits and Exploration and a MS degree in Geostatistics from Stanford University. He is a co-founder and Principal of Plinian Capital, a private equity firm focused on mining and exploration investment opportunities. He formerly held the successive roles of COO, then President & CEO of Mandalay Resources Corporation. Prior to Mandalay, he held senior management roles with BHP and Magma Copper. He founded and led the exploration program for Magma, including the teams that made the initial discoveries of the Resolution copper deposit beneath the historic Superior Mine (Arizona USA) and of the Oyu Tolgoi copper deposit (Mongolia) for Magma.

Richard Williams, CEO of Winshear Gold, commented, “I am pleased to welcome Mark Sander as our new President. In the last year Winshear Gold has transitioned to becoming a Peruvian exploration company whereby it requires more time than I am able to provide due to other managerial responsibilities. The board unanimously agreed that Mark is an ideal candidate to advance the Gaban Gold Project forward.”

Dr. Mark V. Sander, President of Winshear Gold, commented, “Winshear Gold’s 2019 sampling campaigns revealed a 350 by 1000 metre, unbounded bedrock gold anomaly at our Gaban project in Puno, Peru, coincident with a prominent aeromagnetic anomaly (see press release of June 4, 2020). We are eager to accelerate our exploration efforts and planning to resume field work in the next six weeks as Peru reopens. Our goal is to complete at least four more sampling campaigns in 2020 to determine the full extent of the gold mineralization identified in 2019 which remains open in all directions. To date vein sampling locations that have returned anomalous gold assays also commonly show gold in hand samples that are crushed and panned in the field. Gold panning allows us to expand our sample coverage quickly and cost effectively in real-time, until we reach the edges of the anomalous zone. As well, we will continue to advance permitting for an anticipated initial drill program in the 2021 season. I am extremely excited for the opportunity to participate in the growth of Winshear and the advancement of the Gaban gold project.”

About Winshear Gold Corp

In 2019 Winshear Gold Corp. acquired the Gaban Gold Project in the Puno region, SE Peru and the Tinka IOCG project in the Ica district, southern Peru, from Palamina Corp. The Company, formerly Helio Resource Corp., has also delivered notice to the Tanzanian government to commence arbitration to recover its investment in the SMP gold project in Tanzania.

ON BEHALF OF THE BOARD OF DIRECTORS

“Richard D. Williams”
Richard D. Williams, P.Geo

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautions Regarding Forward-Looking Statements

This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including, if any, those related to the likelihood of commercial mining or the ability to fund future mine development are forward-looking statements and contain forward-looking information. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: Company plans at the Gaban project, the Company’s ability to fund the projects in Peru, and any Company plans in relation to Tanzania.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the risks normally involved in the exploration, development and mining business or as may be otherwise set out in the Company’s filings with Canadian securities regulatory agencies. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.

For more information please contact Irene Dorsman at (604) 210-8751 or by e-mail at .