PALISADES PROPOSES $20-MILLION RETURN OF CAPITAL TRANSACTION TO UNLOCK SHAREHOLDER VALUE

PALISADES PROPOSES $20-MILLION RETURN OF CAPITAL TRANSACTION TO UNLOCK SHAREHOLDER VALUE

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, July 24, 2025 /CNW/ - Palisades Goldcorp Ltd. (TSXV: PALI) ("Palisades" or the "Company") announces it is proposing to carry out a return of capital transaction (the "Transaction"). Pursuant to the Transaction, the Company proposes to distribute a specified number of common shares currently owned by the Company, with a $20-million value, of New Found Gold Corp. (TSXV: NFG) to the shareholders of the Company on a pro-rata basis. The Transaction is intended to maximize value for Palisades' shareholders and allow Palisades to distribute shares to shareholders as a return of capital. The Transaction is also intended to be tax-efficient for Canadian Income Tax purposes.

"Today's announcement of a $20 million return of capital marks our seventh distribution since 2021, bringing the total returned to shareholders to $76 million," said Collin Kettell, Founder and CEO of Palisades. "With management and insiders collectively holding approximately 45% ownership, our interests are strongly aligned with those of our shareholders. This alignment reinforces our core commitment to delivering meaningful returns. We appreciate the continued support of our stakeholders as we work to unlock the full value of our assets."

The Company proposes to complete the Transaction by way of a court approved plan of arrangement under the Business Corporations Act (British Columbia). The plan of arrangement will be voted on at the annual and special meeting of the shareholders of the Company to be held August 27, 2025 (the "Meeting") and will be subject to a number of conditions including shareholder and court approval, approval of the TSX Venture Exchange ("TSXV"), and completion of required regulatory filings. The resolution approving the Transaction must receive approval from two-thirds of the votes cast at the Meeting. The information circular for the Meeting will describe the Transaction in greater detail.

In addition to the Transaction, at the Meeting, shareholders will also be voting on the following:

• To fix the number of directors to be elected at four;
• To elect directors of the Company to hold office until the next annual meeting;
• To re-appoint Deloitte LLP as auditor of the Company for the ensuing year and to authorize the directors to fix the remuneration to be paid to the auditor;
• To consider and, if deemed appropriate, approve the Company's stock option plan;
• To consider and, if deemed appropriate, approve the grant of conditional stock options under the Company's stock option plan, subject to the approval of the Company's stock option plan; and
• To consider and, if deemed appropriate, approve the potential creation of Michael Parker as a new Control Person of the Company, as such term is defined in the polices of the TSXV.

The Company will announce the effective date of the Transaction once all necessary approvals have been obtained.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any securities in the United States.

About Palisades Goldcorp Ltd.

Palisades Goldcorp Ltd. is a Canadian company incorporated in the province of British Columbia acting primarily a resource investment company and merchant bank focused on junior companies in the resource and mining sector. The Company seeks to acquire equity participation in pre-initial public offering and early-stage public resource companies with undeveloped or undervalued high quality projects. The Company focuses on companies that are in need of financial resources to realize their full potential, are undervalued in capital markets, and/or operate in jurisdictions with low to moderate local political risk. The Company is focused on providing retail and institutional investors with exposure in the junior resource space. The Company primarily expects to continue to make investments, pursuant to its dual investment strategy, to achieve broad sector exposure with upside in the event of appreciation in mineral commodities prices, while also providing the potential to realize appreciation in net asset values as a result of discoveries by issuers in which the Company holds larger positions. At present, and after the acquisition of Palisades Investments Ltd (formerly Radio Fuels Energy Corp.) in February 2025, Palisades has a portfolio of equity investments, or securities convertible into equity investments, in over 125 junior resource issuers. Through subsidiaries, Palisades holds exploration properties in Nevada and a uranium exploration property in Canada. The Company owns 100% of Made in America Gold Corp., which ranks as the largest junior mineral claim holder in the State of Nevada, as well as 100% of Radio Fuels Resources Corp., which owns the Eco Ridge Uranium Project in Elliot Lake, Ontario. The common shares of the Company are listed and posted for trading on the TSXV under the symbol "PALI". Palisades' management team identifies highly prospective assets in politically safe jurisdictions and seeks to unlock their value by providing strategic investments, proven technical skills, global knowledge, and increased access to industry relationships.

On behalf of the Board of Directors

"Collin Kettell"

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

Cautionary Statements Regarding Forward Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements in this news release, other than statements of historical fact, including, without limitation, statements relating to the successful completion of the Transaction and any tax effects thereof, and the plans and business of Palisades are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Palisades, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to close the Offering on the terms announced or at all, the ability of the Company to obtain acceptance by the TSX Venture Exchange. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Palisades does not assume any obligation to update these forward-looking statements should they change, except as required by applicable securities laws.

SOURCE Palisades Goldcorp Ltd.