Northwire Canada EditionMonday, November 2, 2026
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Gold 3,958.00 +1.5% Silver 50.89 +3.3% Copper 6.54 +0.9% Oil 97.41 −6.4% Palladium 968.25 −2.0% REC 0.055 +0.0% MOLY 1.36 +0.0% NIM 0.600 +0.0% GMX 2.00 +0.0% LEGY 0.800 +0.0% LIB 0.650 +0.0% NOBL 0.075 +0.0% GER 0.005 + BOL 0.055 +0.0% ECR 0.190 +0.0% BBB 0.540 +0.0% WGLD 0.120 +0.0% GLD 0.040 +0.0% TECT 1.37 +0.0% BGF 0.025 +0.0% SUM 1.27 +0.0% Gold 3,958.00 +1.5% Silver 50.89 +3.3% Copper 6.54 +0.9% Oil 97.41 −6.4% Palladium 968.25 −2.0% REC 0.055 +0.0% MOLY 1.36 +0.0% NIM 0.600 +0.0% GMX 2.00 +0.0% LEGY 0.800 +0.0% LIB 0.650 +0.0% NOBL 0.075 +0.0% GER 0.005 + BOL 0.055 +0.0% ECR 0.190 +0.0% BBB 0.540 +0.0% WGLD 0.120 +0.0% GLD 0.040 +0.0% TECT 1.37 +0.0% BGF 0.025 +0.0% SUM 1.27 +0.0%
M&A / Property

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

PALI · Price

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.

Read the original news release →

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