PALISADES BEGINS TRADING ON TSX VENTURE EXCHANGE

VANCOUVER, BC, Feb. 6, 2023 /CNW/ - Palisades Goldcorp Ltd. (TSXV: PALI) ("Palisades" or the "Company") is pleased to announce that the Company's common shares (the "Common Shares") have been approved for listing on the TSX Venture Exchange (the "Exchange") as a Tier 2 issuer under the symbol "PALI" (the "Listing"). Palisades' Common Shares commenced trading as at the opening of the markets on Monday, February 6, 2023. No public offering of Common Shares was carried out in connection with the Listing. Palisades holds a diverse portfolio of securities and derivatives among which it holds a 26.67% interest in New Found Gold Corp (TSXV: NFG).

The Exchange issued a bulletin on February 2, 2023, confirming the Listing.

On behalf of the Board of Directors

"Collin Kettell"

Collin Kettell
Chief Executive Officer and Director

Palisades Goldcorp Ltd. is 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 state 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 appreciate 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".

Neither the TSX Venture Exchange nor its Regulation 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.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, the "forward-looking statements"). Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "will", "can", "may", "could", "expects", "plans", "anticipates" and similar expressions which, by their nature, refer to future events. Forward-looking statements included herein include, but are not limited to, statements with respect to the Company's expected investment strategy and long-term business objectives. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations

will prove to be correct. The Company cautions that forward-looking statements are based on the beliefs, assumptions, estimates and opinions of the Company's management on the date the statements are made,  including, with respect to the forward-looking statements contained herein, the assumption that the Company will continue to achieve its investment and performance milestones through conducting its operations in a manner consistent with past performance, and such forward-looking statements involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the volatility of the Common Shares, the Company's lack of control over the mining operations of the issuers in which it invests and its limited access to such operational data, risks associated with the Company's acquisition strategy and no guarantee over its investment returns and risks related to resale restrictions, inflation, volatility of global financial conditions, conflicts of interests and those risks applicable to owners and operators of mineral properties. The reader is urged to refer to the Company's final long form prospectus dated January 20, 2023, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

SOURCE Palisades Goldcorp Ltd.