Vancouver, British Columbia--(Newsfile Corp. - January 30, 2025) - Palisades Goldcorp Ltd. (TSXV: PALI) ("Palisades") and Radio Fuels Energy Corp. (CSE: CAKE) (OTCQB: CKEFF) (the "Company" or "Radio Fuels") are pleased to announce that at Radio Fuels' annual and special meeting (the "Meeting") of shareholders ("Shareholders") held today, the Radio Fuels Shareholders approved the previously announced transaction with Palisades, whereby Palisades will acquire, by way of court-approved plan of arrangement (the "Arrangement"), all of the issued and outstanding common shares of the Company (the "Common Shares").

Under the terms of the Arrangement, each Common Share will be exchanged for 0.060538 of a Palisades common share (each a "Palisades Share"). Upon completion of the Arrangement, existing Palisades shareholders and former Radio Fuels shareholders will own approximately 76% and 24%, respectively, of the issued and outstanding Palisades Shares.

The Arrangement required the approval of at least 66⅔% of the votes cast by the Shareholders. At the Meeting, the Arrangement was approved by approximately 99.2% of all votes cast. The other matters placed before the Shareholders at the Meeting, including the election of directors of Radio Fuels and the reappointment of Radio Fuels' auditor were also approved.

Completion of the Arrangement remains subject to closing conditions as set forth in the arrangement agreement, including final approval of the Supreme Court of British Columbia (the "Court"), final approval of the TSX Venture Exchange (the "TSXV"), final approval of the Canadian Securities Exchange and conditions to implementing the Arrangement as set out in the arrangement agreement entered into between Radio Fuels and Palisades on December 9, 2024. The Company anticipates returning to the Court on February 3, 2025 to seek a final order of the Court approving the Arrangement. Assuming that the conditions to closing are satisfied or waived, it is currently expected that the Arrangement will be completed on or about February 6, 2025.

Further information regarding the Arrangement is provided in the management information circular dated December 20, 2024, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website.

About Palisades Goldcorp Ltd.

Palisades Goldcorp Ltd. is a resource investment company focused on junior companies in the resource and mining sector. Palisades seeks to acquire equity participation in pre-initial public offering and early-stage public resource companies with undeveloped or undervalued high quality projects. Palisades 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. Palisades 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 Palisades holds larger positions. Palisades 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 21.82% interest in New Found Gold Corp. (TSXV: NFG).