Winshear Grants 2,000,000 Incentive Stock Options

VANCOUVER, British Columbia, Oct. 24, 2022 (GLOBE NEWSWIRE) — Winshear Gold Corp. (TSX-V: WINS) (“Winshear” or the “Company”) has granted 2,000,000 incentive stock options to directors, officers, employees and consultants of the Company. The options have an exercise price of $0.10 per share and expire on October 22, 2027. The options vest on a quarterly basis over the next 12 months.

Winshear’s Stock Option Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options. As a result of this grant, the company has 5,050,000 options issued, representing 7.0% of the issued and outstanding share capital of the Company. Of the 2,000,000 options granted, 1,600,000 were granted to Directors and Officers of the Company.

About Winshear Gold Corp

Winshear Gold Corp. is a Canadian-based minerals exploration company advancing the Gaban Gold Project in the Puno region of Peru. Gaban is a possible hard-rock source for the modern-day alluvial gold rush underway in the Madre de Dios basin downstream; Winshear is investigating the project for potential to host significant volumes of potentially minable gold resource.

The Company is also conducting fully funded arbitration proceedings against the Tanzanian Government to recover its investment and damages for the expropriated SMP gold project in Tanzania.

ON BEHALF OF THE BOARD OF DIRECTORS

“Richard D. Williams”

Richard Williams, P.Geo, CEO

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.

CONTACT: For more information, please contact Irene Dorsman at +1 (604) 200 7874 or by e-mail at [email protected].

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