PALISADES ANNOUNCES COMPLETION OF RETURN OF CAPITAL TRANSACTION AND RESUMPTION OF TRADING

VANCOUVER, BC, Sept. 17, 2025 /CNW/ - Palisades Goldcorp Ltd. (TSXV: PALI) ("Palisades" or the "Company") announces the completion of the return of capital transaction ("Return of Capital Transaction") by way of court-approved plan of arrangement ("Arrangement"). As part of the Arrangement, Palisades:

• reclassified and redesignated its existing common shares (the "Old Palisades Shares") as Class A common shares (the "Class A Shares");
• created a new class of common shares (the "New Palisades Shares");
• exchanged each Class A Share for one New Palisades Share; and
• each common shareholder of Palisades of record as at the close of business on September 15, 2025 received 0.1052 common shares of New Found Gold Corp. (TSXV: NFG) ("New Found Gold").

The New Palisades Shares will resume trading on the TSX Venture Exchange ("TSXV") today, September 17, 2025 at the open of the markets under the symbol "PALI" but will carry a new CUSIP number (69639G108). The Company's outstanding common share purchase warrants (each, a "Warrant") will resume trading on the TSXV under the symbol "PALI.WT". In accordance with the adjustment provisions contained in the warrant indenture governing the Warrants, the exercise price of each Warrant has been adjusted to entitle each warrantholder, upon exercise, to purchase 0.060538 of a New Palisades Share at an exercise price of $0.40. Accordingly, for illustrative purposes only, approximately 16.52 Warrants would be required to acquire one New Palisades Share for aggregate exercise price consideration of $6.61 (subject to the warrant indenture, including the treatment of fractional shares). This reflects the distribution of 6,781,919 common shares of New Found Gold ("NFG Shares") with an aggregate approximate value of $18,989,373.

"We are very pleased to have successfully completed this return of capital transaction, which unlocks additional value for our shareholders while preserving their ongoing participation in Palisades," said Collin Kettell, CEO of Palisades. "This structure ensures that our shareholders directly benefit from our position in New Found Gold, while at the same time allowing Palisades to continue advancing its business strategy and growth objectives."

Further details regarding the Arrangement and the Return of Capital Transaction 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.

Early Warning Requirements

Pursuant to the Arrangement, Palisades distributed 6,781,919 common shares of New Found Gold to the shareholders of record as at the close of business on September 15, 2025. Immediately prior to the distribution, Palisades owned and exercised control over and aggregate of 43,386,425 NFG Shares, representing an interest of approximate 17.85% of the issued and outstanding voting securities of New Found Gold. As a result of the distribution, Palisades owns and exercises control over an aggregate of 36,604,506 NFG Shares representing approximately 15.06%. The foregoing disclosure is being disseminated pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting. A copy of the Company's early warning report will be available under the Company's profile at www.sedarplus.ca. A copy of the report may also be obtained by contacting Collin Kettell, Chief Executive Officer of the Company, via the contact information below for the Company.

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 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 resumption of the trading halt and timing thereof; 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.

For further information regarding Palisades, please contact: Collin Kettell, Chief Executive Officer and Director, Phone: [phone], Email: [email protected]