PALISADES PROVIDES UPDATE ON RETURN OF CAPITAL TRANSACTION

PALISADES PROVIDES UPDATE ON RETURN OF CAPITAL TRANSACTION

VANCOUVER, BC, Sept. 8, 2025 /CNW/ - Palisades Goldcorp Ltd. (TSXV: PALI) ("Palisades" or the "Company") is pleased to announce that the Company has obtained the final order of the Supreme Court of British Columbia approving the previously announced plan of arrangement (the "Arrangement") and has fixed Monday September 15, 2025 has the record date for the distribution of the New Found Gold Corp ("New Found") common shares to the Company's shareholders (the "Distribution Record Date"). The Company received shareholder approval for the Arrangement, which contemplates the return of capital transaction at its annual and special meeting held on August 27, 2025.

The Arrangement is expected to become effective at 12:01 a.m. Pacific Time on September 17, 2025 (the "Payable Date"). As promptly as practicable thereafter, Odyssey Trust Company, in its capacity as transfer agent for Palisades, and Computershare Trust Company of Canada, the transfer agent for New Found Gold Corp., will deliver the consideration to registered Palisades shareholders of record as of the Distribution Record Date, all in accordance with the terms of the Arrangement and subject to the final approval of the TSXV.

Pursuant to the return of capital distribution, Palisades anticipates distributing, on a pro-rata basis, common shares of New Found Gold Corp. currently held by the Company, having an aggregate market value of approximately $20 million.

Further details regarding the Arrangement and the return of capital distribution are set out in the management information circular dated July 21, 2025 and related materials, which are available under the Company's profile at www.sedarplus.ca.

The Company intends to issue a further news release containing additional details in connection with the Arrangement.

About Palisades Goldcorp Ltd.

Palisades Goldcorp Ltd. is a Canadian company incorporated in the province of British Columbia acting primarily as 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.

Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that 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. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of Palisades, are forward-looking statements. 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 and timing of the Arrangement, TSXV Venture Exchange final approval, additional news release 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, technical, geologic, environmental, regulatory, 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. 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 forward-looking statements should beliefs, opinions, projections, or other factors, change, except as required by applicable securities laws.

SOURCE Palisades Goldcorp Ltd.