Palisades' Made in America Gold Corp. Closes Acquisition of Undercover Gold, Adding 73km2 Ground Package Just 6km South of Fourmile and Goldrush

Executive Summary

• Palisades’ subsidiary Made in America Gold Corp. (MIAG) completed the acquisition of Undercover Gold Inc., adding ~73 km² of South Cortez and South Tonkin properties in Nevada.
• Undercover shareholders received 1,642,710 MIAG common shares, representing a 10% equity interest in MIAG upon closing.
• The deal expands MIAG’s landholdings to roughly 800 km², making it the largest junior gold‑claim holder in Nevada and positioning the company adjacent to major deposits such as Goldrush, Fourmile, Pipeline, and Cortez Hills.

Key Details

• Transaction Structure: Definitive share purchase agreement; MIAG acquired all outstanding shares of Undercover.
• Consideration: 1,642,710 MIAG common shares issued to Undercover shareholders (10% equity stake in MIAG).
• Closing Date: February 18, 2026.
• Land Added: Approximately 73 km² of South Cortez and South Tonkin mineral properties, increasing total controlled acreage to ~800 km² across Nevada’s Battle Mountain–Eureka corridor.
• Geology: Targets classic Carlin‑type gold mineralization in the Lower Plate of the Roberts Mountain thrust; favorable lower‑plate host rocks at depths <400 m.
• Existing Royalties/Options: All pre‑existing royalties and option agreements remain unchanged; 1.75% NSR on 100% owned Undercover claims retained by NewQuest.
• Palisades’ NSR Positioning: Prior to closing, Palisades placed a 1.75% NSR on all 100% owned MIAG claims (excluding the newly acquired blocks) via a new subsidiary for the benefit of Palisades shareholders; transferred an existing 3.0% NSR from Nevada King Gold Corp.’s Atlanta Gold Mine Project to the same subsidiary.
• Strategic Rationale: Integration of historic data and seismic/aeromagnetic surveys to test high‑priority, under‑explored targets near Tier 1 deposits; aims to unlock value in a district that has produced >10 million ounces of gold.
• Qualified Person: Justin Daley, P.Geo., reviewed and approved the technical information per NI 43‑101.

Notable Quotes

“The closing of the South Cortez and South Tonkin acquisition marks a transformative milestone for MIAG… we are now the biggest junior company landholder in Nevada, controlling roughly 800 km² of the state’s most productive gold trends.” – Justin Daley, CEO, Made in America Gold Corp.