Mr. Collin Kettell reports

PALISADES ANNOUNCES NEW FOUND RESULTS FROM INAUGURAL DIAMOND DRILL PROGRAM AT QUEENSWAY SOUTH

New Found Gold Corp., a significant equity investee of Palisades Goldcorp Ltd. (within the meaning of applicable Canadian securities legislation), has released the results of New Found's inaugural 7,250-metre, 33-diamond-drill-hole program at Queensway South that commenced in August, 2022, and was designed to test early-stage exploration targets. Queensway South is a contiguous portion of New Found's 100-per-cent-owned Queensway project in Newfoundland and Labrador.

For further detail regarding the results of the diamond drill program at Queensway South, including highlights, maps, drill hole details and information of a technical nature with respect thereto, please see New Found's news release dated May 25, 2023, accessible on New Found's website and under New Found's profile on SEDAR.

About Palisades Goldcorp Ltd.

Palisades Goldcorp is a resource investment company 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 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. The company 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 26.67-per-cent interest in New Found Gold.