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Profile: North American Palladium Ltd (PDL.TO)

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North American Palladium Ltd. (NAP), incorporated on September 12, 1991, is a platinum group metal (PGM) producer on a permitted property. The Company's only material asset is the Lac des Iles property. The Company's northwestern Ontario platinum group element (PGE) greenfields properties consist of over 28,000 hectares of land and capture various discrete intrusive bodies. In addition to its approximately 8,650 hectares Lac des Iles property, the Company holds the rights to various PGE and gold properties in Ontario. The Company has ownership in a joint venture for the Shebandowan nickel-copper-PGE property, including the past-producing Shebandowan nickel sulfide mine. The complete Ontario land package, including the LDI Mine, PGE greenfields properties, gold properties and the Shebandowan joint venture property totals approximately 47,710 hectares.

NAP's northwestern Ontario PGE greenfields property portfolio, including exploration-stage properties, such as the North and the South Lac des Iles Intrusive Complex, which form part of the LDI property, consisting of approximately 36,500 hectares of land within over 200 claims and approximately two mining leases. The PGE greenfields properties include various mafic-ultramafic intrusive bodies. The portfolio includes the North and South LDI intrusions that are part of the LDI mafic-ultramafic intrusive complex.

Lac des Iles property

The Company's Lac des Iles property is located approximately 90 kilometers northwest of the City of Thunder Bay, Ontario, Canada. The property consists of an inactive open pit and a mill with a nominal capacity of approximately 15,000 tons per day. The primary deposits on the property are the Roby Zone and the Offset Zone both disseminated magmatic nickel-copper-PGE deposits. The Company has also identified other mineralized areas on the property, including the North VT Rim, Sheriff, Baker and Moore zones. Outside of the LDI Mine property, the Company's regional PGE greenfields properties cover approximately 47,710 hectares, including various most prospective geological structures in the area. The Company's principal product is a palladium-rich concentrate, which it sells to smelters. Palladium is a metal, which is used in the manufacture of catalytic converters for automobiles.

North Lac des Iles Intrusive Complex

The Company's North Lac des Iles property encompasses a discrete ultramafic-dominant intrusive complex. The North Lac des Iles property consists of over 40 claims covering an area of approximately 2,750 hectares.

South Lac des Iles Intrusive Complex

The Company's South Lac des Iles property incorporates two discrete mafic intrusions (Camp Lake intrusion and South LDI intrusion). The property includes approximately 10 claims and over two mining leases covering an area of approximately 4,440 hectares.

Legris Lake Property

The Company has an option to acquire interest in Legris Lake PGE property, which is located adjacent to the southeast portion of Lac des Iles. The property is at a preliminary exploration-stage.

Buck Lake Property

The Company's Buck Lake property lies on the western end of a linear magnetic feature related to the Buck Lake intrusion, comprising both gabbroic and ultramafic rocks. The Buck Lake property consists of approximately two claims covering over 440 hectares.

Bullseye Property

The Company's Bullseye property covers a discrete, positive magnetic anomaly. The Bullseye property consists of approximately one claim covering over 250 hectares.

Chisamore Property

The Company's Chisamore property covers a positive magnetic anomaly. The Chisamore property consists of approximately eight claims covering over 1,640 hectares.

Demars Lake Property

The Company's Demars Lake property covers a portion of a mafic-ultramafic intrusion. The property consists of approximately three claims covering over 660 hectares. The Company has completed approximately two holes totaling over 680 meters of diamond drilling on the property.

Dog River Property

The Company's Dog River property covers approximately five kilometers wide layered mafic-ultramafic intrusion located over 20 kilometers to the west of the LDI Mine. The property includes approximately 20 claims covering over 3,220 hectares.

Shelby Property

The Company's Shelby property covers a portion of the Shelby Lake and Towle Lake intrusive complexes, which include known PGE-bearing zones, such as the Vande, Powder Hill and Stinger zones. The Company holds interest in over 20 claims covering approximately 3,950 hectares.

Taman Lake Property

The Company's Taman Lake property includes approximately six claims covering over 1,180 hectares. The property covers a series of irregularly shaped mafic-ultramafic intrusions.

Tib Lake Property

The Company has an option to purchase an interest in over 20 claims located northwest of the LDI Mine, known as the Tib Lake property. The property includes an additional over 20 claims staked by the Company. The complete Tib Lake property totals approximately 7,390 hectares.

Wakinoo Lake Property

The Company's Wakinoo Lake property includes approximately nine claims covering over 1,760 hectares. Approximately 3.5 square kilometers Wakinoo Lake mafic intrusion has been the target of exploration programs.

Varris Lake Property

The Company's Varris Lake property includes approximately three claims covering over 540 hectares. The property covers a portion of the Vande Zone within the Towle Lake Intrusive Complex, known to host various PGE occurrences.

Shabaqua Property

The Company's Shabaqua Gold property is located approximately 50 kilometers West-North-West (WNW) of Thunder Bay. The property includes over 10 claims totaling approximately 1,760 hectares.

Shebandowan Property and Shebandowan West Project

The Company holds interest in the Shebandowan property comprising the former producing Shebandowan nickel sulfide mine and the surrounding Haines and Conacher properties. The property is located approximately 90 kilometers west of Thunder Bay, Ontario and over 100 kilometers southwest of the LDI property. The Shebandowan West project lies within the north-western portion of the Shebandowan property, and encompasses over three mineralized zones, all of which are located at shallow depths.

Company Address

North American Palladium Ltd

1 University Ave Suite 402
P: +1416.3607590
F: +1416.3607709

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