Overview

In June 2008, Independent consultants InnovExplo Inc. completed a NI43 – 101 resource estimate on the Discovery gold project.
This resulted in increasing the measured and indicated resource by 15% and the inferred resource by 56%.

North American Palladium owns 100% of the Discovery gold project.  Located approximately 35 kilometers north-west of the town of Lebel-Sur-Quévillon, Quebec, the property is accessible via a well-maintained logging road to Highway 113, as well as an operating CN rail line.

Mining Claims
The Discovery property consists of the Discovery and Cameron projects comprising 124 mining claims covering an area of 3,371 hectares.  The project is located in the Eastern extension of the Harricana-Turgeon Belt which hosts the Mattagami, Joutel and Casa-Berardi mining camps.

The project lies in the south-eastern section of the prolific Abitibi Greenstone Belt.

Exploration
Exploration work was done by Homestake Canada Ltd. from 1986 - 1990 which exposed the Discovery Gold Deposit.

From 1991 – 2006, Corona Corporation, GeoNova Exploration Inc. and Strateco continued to increase the resources of the Discovery deposit.  In October 2006 the Company initiated a drilling program aimed at increasing the Discovery zone resource and upgrading it from inferred to indicated.

As of August 1, 2008, the Discovery project has 237,000 measured and indicated ounces of gold plus 294,000 inferred ounces of gold.  The August 2008 scoping study concluded that the Discovery Project could produce 44,000 ounces of gold over a four year life with a gold price of $650.00 per ounce.