North American Palladium Announces Plans for Increased Production and Longer Mine Life at the Lac des Iles Mine

North American Palladium (“NAP” or the “Company”) (TSX:PDL)(OTC PINK:PALDF) is pleased to announce the results of a feasibility study including a new Life Of Mine (“LOM”) plan for its Lac des Iles mine property (“LDI” or the “Property”) in northwestern Ontario.
Highlights of the Feasibility Study:

• 37.7 million tonnes mined from surface and underground sources with an average grade of 2.21 g/t palladium containing 2.68 million ounces of palladium
• A 9.5 year mine life averaging 10,860 tonnes per day and 214,400 payable ounces palladium per year
• Average mill operating rate of approximately 12,250 tonnes per day, producing an average of 237,000 payable ounces palladium per year during full production

Jim Gallagher, President and CEO of North American Palladium, said:

“We are pleased to be able to announce this substantial increase in total tonnes and ounces to be produced at the Lac des Iles Mine. The economics are robust with an all-in sustaining cost of US$527 per ounce, an EBITDA of just over $1 billion and positive free cash flow over the entire life of mine totaling $678 million.
The operational turnaround at LDI is now largely complete with SLS mining giving us higher and more consistent production from the underground mine, a planned return to full time mill operations in the fall of this year, and a resumption of surface mining early next year.”

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