North American Palladium Signs Option Agreement for the Sunday Lake Project and Commences New Exploration Strategy

North American Palladium (“NAP” or the “Company”) (TSX:PDL) (OTC PINK:PALDF) is pleased to announce the signing of a Definitive Option Agreement (the “Option Agreement”) with Impala Platinum Holdings Limited (“Implats”) and Transition Metals Corp (“Transition”) that provides the Company with the exclusive right to acquire a 75% ownership position in the Sunday Lake Project located near Thunder Bay, Ontario.
The Sunday Lake Project is host to a recently discovered platinum group element (“PGE”) – copper – nickel sulfide deposit. The Company is also providing details on its regional exploration strategy.
Jim Gallagher, Company President and CEO, said:

“We are very pleased to announce the signing of a Definitive Option Agreement with Impala Platinum and Transition Metals in connection with the Sunday Lake property. The Sunday Lake property rounds out our portfolio of early-stage to advanced exploration opportunities within our strategic exploration area of interest extending over a radius of 50 km from our Lac des Iles mill.
Late last year, our board of directors approved a comprehensive exploration strategy that will potentially deliver timely resource additions on our Lac des Iles Mine property and our substantial Greenfields property portfolio. Following the recently announced increases in our mineral reserves and life of mine production plan at Lac des Iles, NAP is now well positioned to execute on this strategy.”

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