PALISADES ANNOUNCES $2.5 MILLION FULLY SUBSCRIBED NON-BROKERED PRIVATE PLACEMENT

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

VANCOUVER, BC, Feb. 10, 2025 /CNW/ - Palisades Goldcorp Ltd. (TSXV: PALI) ("Palisades" or the "Company") is pleased to announce that it has arranged a non-brokered private placement financing (the "Non-Brokered Private Placement") of 1,436,365 Shares of the Company ("Shares") at a price of $1.74 per Share for aggregate gross proceeds of $2,499,275. The Non-Brokered Private Placement is fully allocated and is being taken by one shareholder. It is expected to close on or about February 21, 2025.

Collin Kettell, Founder & Chief Executive Officer, stated: "This strategic financing will further strengthen the Company's balance sheet, adding to the more than $130 million of cash and marketable securities held in the Palisades portfolio. We remain focused on seeking and evaluating investment opportunities in the junior resource space that offer our shareholders asymmetric returns, and we are encouraged by the recent breakout in the TSX Venture Exchange. The Palisades portfolio is designed to provide unparalleled leverage to an upside move in junior equities and given gold's sustained move over the past several months, we believe such a move is forthcoming."

Proceeds from the Non-Brokered Private Placement will be used for general working capital purposes. All securities to be issued in connection with the Non-Brokered Private Placement will be subject to a statutory hold period of four months in accordance with applicable securities legislation. The Non-Brokered Private Placement is subject to the receipt of all necessary approvals, including acceptance by the TSX Venture Exchange.

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 resource investment company focused on junior companies in the resource and mining sector. Palisades seeks to acquire equity participation in pre-initial public offering and early-stage public resource companies with undeveloped or undervalued high-quality projects. Palisades 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. Palisades 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 Palisades holds larger positions. Palisades is listed on the TSX Venture Exchange under the stock symbol "PALI". Palisades holds a diverse portfolio of securities and derivatives, among which it holds a 21.64% interest in New Found Gold Corp. (TSXV: NFG).

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. 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, other than statements of historical fact, included herein, without limitation, statements relating to the size and use of proceeds of the Non-Brokered Private Placement, the timing and ability of the Company to close the Non-Brokered Private Placement, including obtaining approval of the Non-Brokered Private Placement from the TSX Venture Exchange, and the potential of an upside move in junior equities, including any benefits derived therefrom, 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 to obtain the necessary approvals, including acceptance by the TSX Venture Exchange, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Palisades and Radio Fuels do not assume any obligation to update these forward-looking statements should they change, except as required by applicable securities laws.

SOURCE Palisades Goldcorp Ltd.

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