North American Palladium (NAP) is an established precious metals producer that has been operating its flagship Lac des Iles (LDI) mine in Ontario, Canada since 1993. The Company’s vision is to become a low cost mid-tier precious metals producer with over 250,000 ounces in annual production.

LDI is one of only two primary palladium producers in the world, offering investors exceptional leverage to the rising price of palladium. The mine is currently undergoing a major expansion to increase palladium production and reduce cash costs per ounce. The most critical aspect of the mine expansion is the installation of a shaft, which is expected to increase the Company’s underground mining rate. Through the utilization of the shaft, LDI is expected to benefit from increased production at reduced cash costs per ounce, yielding higher operating margins.

Beyond the mine expansion, there remains significant exploration upside near the mine, where a number of recent discoveries can potentially further increase production at LDI. The exploration upside is further complimented by LDI’s significant excess mill capacity.

As an established PGM producer with a clearly defined strategy for growth, LDI offers investors:

• Production growth with a decreasing cash cost profile and expanding margins;
• Significant exploration upside;
• Leverage to the rising price of palladium, which continues to benefit from solid supply and demand fundamentals; and
• A lower risk investment alternative than our South African peers by virtue of a more stable political landscape, reduced geopolitical risk, moderate cost inflation, and availability of skilled labour.

With an experienced senior management team and a strong balance sheet, NAP is well positioned to pursue its growth strategy. NAP’s shares trade on the NYSE MKT under the symbol PAL and on the TSX under the symbol PDL.