Palisades Announces New Found’s Increased Weighting by GDXJ

Vancouver, British Columbia, March 15, 2023 – Palisades Goldcorp Ltd. (TSX-V: PALI) (“Palisades” or the “Company”) today announced that New Found Gold Corp. (“New Found”), a significant equity investee of Palisades within the meaning of applicable Canadian securities legislation, has provided an update on New Found’s weighting in the VanEck Junior Gold Miners ETF (“GDXJ”).

As announced by New Found, the index weighting of New Found in the GDXJ is anticipated to increase from 0.32% to 0.42% following a rebalancing on March 17, 2023.

For further details regarding the index weighting of New Found in the GDXJ, please see New Found’s news release dated March 15, 2023, accessible on New Found’s website at https://newfoundgold.ca/news/ and under New Found’s profile on SEDAR at www.sedar.com.

About Palisades Goldcorp Ltd.

Palisades Goldcorp Ltd. 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% interest in New Found Gold Corp. (TSX-V: NFG).

On behalf of the Board of Directors

“Collin Kettell”

Collin Kettell
Chief Executive Officer and Director
Phone: +1 (845) 535-1486
Email: collin@palisades.ca

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.