Palisades Petroleum Corporation Announces A Joint Venture With Kinti Mining Ltd. The joint venture has been entered into with Kinti Mining Limited on an adjacent gold property in Guyana. The Agreement provides for Palisades to mine the property in exchange for half of the net production of gold and diamonds. In addition, Kinti will become a minority shareholder in Palisades.

Palisades Petroleum Corporation announced the appointment of a new President and CEO of the company. Leslie Rutledge, the former CEO of Palisades Petroleum, announced that Richard Byrd has been appointed as the Chief Executive Officer of Palisades Petroleum. Leslie Rutledge tendered her resignation at the same time that Richard was appointed to the position.

Palisades Petroleum Corporation announced that it is in late-stage negotiations for an acquisition of a large gold and diamond project. Leslie Rutledge, CEO of Palisades Petroleum, announced that it has almost completed negotiations to acquire a mining project located in Guyana, South America in the Mazaruni Area. The project was chosen among many presented to us due to the relative ease of bringing it into production. In addition, Guyana has a friendly mining environment. Palisades will be mining for both gold and diamonds. "We are also in talks, contingent on getting this property, to do a joint venture with a US. company that owns a property in close proximity to the one that we are looking to acquire. The acquisition of this mining asset will add to the immediate value of the company and it is expected that this will eventually be reflected in the share price. We competed against both Venezuelan and Brazilian mining companies but persevered for the benefit of all of our stakeholders. Shareholders will be kept informed of the outcome of the negotiations. A decision should be rendered within the next two weeks and announced shortly after. We remain cautiously optimistic.”