North American Palladium / PDL, PALDF (TSX, OTC)

In the platinum space, HSBC Securities upped its price target on shares of North American Palladium (PAL) to $5 a share from $4, but retained an underweight rating on the stock.

TORONTO, ONTARIO, Jan 16, 2007 (CCNMatthews via COMTEX) -- North American Palladium Ltd. (CA:PDL) (PAL) -
Highlights for the Fourth Quarter 2006
This news release contains forward-looking statements. Reference should be made to "Forward-looking Statements" at the end of this news release
- Palladium production in the fourth quarter 2006 was 73,242 ounces, among the best quarters in recent years and virtually doubling production in Q4 2005
- Increases in head grade for all commodities were achieved with historically comparable grades recorded for platinum and palladium. The average palladium mill feed grade for the quarter was 2.52 g/t compared with 1.47 g/t in Q4 2005 and 2.17 g/t in Q4 2004
- By-product metal production for the quarter increased to 6,512 oz of platinum (+73% from Q4 2005), 5,108 oz of gold (+75%), 864,442 lbs of nickel (+63%) and 1,421,451 lbs of copper (27%)
- In total 1,179,644 tonnes of ore was processed during the quarter for an average of 12,822 tonnes per day at a palladium recovery rate of 76.9% compared with 11,962 tonnes per day in Q4 2005 at a palladium recovery rate of 70.7%
- Underground production has been a key factor producing on average 2,156 tonnes per day and averaging a palladium head grade of 6.42 g/t
- Spot palladium prices in the fourth quarter were in line with the preceding quarter of 2006 averaging US $323 per oz versus US $242 per oz in Q4 2005

TORONTO, ONTARIO, Jan 25, 2007 (CCNMatthews via COMTEX) -- North American Palladium Ltd. (CA:PDL: news, chart, profile) (PAL: north amern palladium ltd com) is pleased to announce the appointment of Reno Pressacco, M. Sc. to the position of Vice-President of Exploration and Development.
Mr. Pressacco has spent the last twenty years in mineral exploration and mine development, particularly in northern Ontario and Quebec, in a variety of geological environments. A graduate of McGill University with a Master of Science degree in Mineral Exploration, he has conducted exploration programs and economic evaluations for companies including Placer Dome Canada, Agnico-Eagle and Royal Oak Mines that have resulted in the identification of significant mineralization and advancement. As senior geologist for Agrium, he played a key role in profitability enhancement, ore reserve expansion and sustaining long term viability. More recently with the consulting firm Micon International, Mr. Pressacco conducted mineral reserve and resource estimations and audits, as well as technical due diligence reviews of exploration and development properties and operating mines in North and South America, Russia, Armenia and China.
Mr. Pressacco is the author of several papers on precious metal and ore deposits in northern Ontario and is a member of the Association of Professional Geoscientists of Ontario and the Prospectors and Developers Association of Canada. He will be based in the Toronto, Ontario head office.
"We look forward to welcoming Reno to our senior management team. His experience and enthusiasm are well suited to an exciting expansion agenda in Canada and Finland" Jim Excell, President and CEO of North American Palladium added.
He replaces Bruce Mackie who, after three years of notable contributions to NAP's future, has decided to pursue other interests. Mr. Mackie has been retained to assist in a smooth transition in the areas of exploration and development.
North American Palladium's Lac des Iles Mine is Canada's only primary producer of platinum group metals and is among the largest open pit, bulk mineable palladium operations in the world. The Mine also generates substantial revenue from platinum and by-product metals including nickel, gold and copper. NAP is focused on expanding its production profile through joint ventures in Canada and Finland. Palladium's catalytic qualities are expected to play an increasing role in the automotive industry in response to growing concern for global environmental solutions, in fuel cell technology for alternative energy sources and an emerging jewellery market, while continuing to have widespread application in the dental, electronics and chemical sectors.
SOURCE: North American Palladium Ltd.

TORONTO, ONTARIO, Feb 05, 2007 (MARKET WIRE via COMTEX) -- North American Palladium Ltd. ("NAP") (CA:PDL: news, chart, profile) (PAL: north amern palladium ltd com) is pleased to announce that it has entered into a platinum and palladium purchase agreement (the "Agreement") with Auramet Trading, LLC ("Auramet") a precious metals merchant, providing for the sale of an average of 10,000 ounces of palladium and 500 ounces of platinum per month over a two-year term. At its election, NAP may receive advance payments not exceeding, at any time, an aggregate maximum amount of US$25 million.
To secure the obligations of the Company under the Agreement, NAP has granted to Auramet a security interest in the concentrates (including the precious and base metals contained therein) mined at the Lac des Iles mine together with the proceeds arising from the sale of the concentrate, and by way of security, an assignment of its smelting and refining agreement.
"This facility puts the value of our in-process precious metals to work in a cost effective and efficient manner", commented Jim Excell, President & CEO of NAP. "It enhances our liquidity and assures NAP's position as North America's premier palladium producer."
Advance payments will be subject to a discount equal to LIBOR plus 1.9% p.a. to delivery date and will be used to finance NAP's ongoing working capital requirements.
North American Palladium's Lac des Iles Mine is Canada's only primary producer of palladium and is among the largest open pit, bulk mineable palladium operations in the world. The Mine also generates substantial revenue from platinum and by-product metals including nickel, gold and copper. NAP is focused on expanding its production profile through joint ventures in Canada and Finland. Palladium's catalytic qualities are expected to play an increasing role in the automotive industry in response to growing concern for global environmental solutions, in fuel cell technology for alternative energy sources and an emerging jewelry market, while continuing to have widespread application in the dental, electronics and chemical sectors.

TORONTO, ONTARIO, Feb 27, 2007 (CCNMatthews via COMTEX) -- North American Palladium Ltd. (CA:PDL) (PAL: north amern palladium ltd com) -
Highlights
This news release contains forward-looking statements. Reference should be made to "Forward-looking Statements" at the end of this news release
- Operating cash flow(1) for the year (before changes in non-cash working capital) improved considerably to $10.3 million from a negative $37.9 million in fiscal 2005. Cash flow in the most recent quarters of 2006 have sustained this positive trend with $11.0 million in the fourth quarter from a negative $6.9 million in the corresponding quarter of 2005. Operating cash flow before exploration expenses(1) was $22.1 million in fiscal 2006, compared with negative $29.9 million in 2005
- Total revenues in 2006 increased by 72% to $159.2 million compared with $92.6 million in fiscal 2005 with significant revenue growth being achieved in each quarter over the previous year. In the fourth quarter of 2006, revenues almost doubled to $50.8 million compared with $25.6 million in the comparable period last year reflecting record level palladium and by-product metal production
- Palladium production in the fourth quarter almost doubled that of 2005 reaching 73,242 ounces vs 36,833 ounces. For the 2006 fiscal year palladium production increased 34% to 237,338 ounces from 177,167 ounces in 2005 at an average head grade of 2.18 g/t Pd compared with 1.66 g/t Pd in 2005. The 2006 improvement is partially a result of the contribution of the higher grade ore from the underground operations that commenced commercial production in April 2006. This led to a significant increase in palladium revenues in 2006 by 74% to almost $76 million from $43.4 million in 2005
- By-product metal revenues reflected substantial increases in production and particularly nickel which, benefiting from stronger metal prices, more than doubled 2005 revenues. Revenues from nickel now account for over 20% of total revenue with palladium and platinum accounting for 48% and 15% respectively
- Cash cost per ounce(1) of palladium produced net of by-product metal revenues and royalties, improved throughout the year and was US$108 per ounce for the fourth quarter compared with US$417 per ounce in the same quarter of 2005. For the year, the cash cost(1) improved to US $201 per ounce in 2006 compared with US $359 per ounce in 2005, reflecting the improved metals production as a result of the higher ore grades and better recoveries as well as a decrease in the open pit waste-to-ore strip ratio from 3.14:1 in 2005 to 2.26:1 in 2006
- Net loss in the fourth quarter significantly improved to $7.4 million ($0.14 per share) from $11.0 million ($0.21 per share) in 2005, while for fiscal 2006 the net loss was reduced by $19.5 million to $34.1 million ($0.65 per share) from $53.6 million ($1.03 per share) in fiscal 2005. For the fourth quarter this loss is after exploration costs of $4.6 million and non cash items(1) (see table below) of $16.1 million and for fiscal 2006, after exploration costs of $11.8 million and non cash items1 of $44.4 million

North American Palladium Appoints New Chief Financial Officer

TORONTO, ONTARIO, Mar 07, 2007 (MARKET WIRE via COMTEX) -- North American Palladium Ltd. (CA:PDL) (PAL: north amern palladium ltd com) is pleased to announce the appointment of Fraser Sinclair, C.A. to the position of Vice-President, Finance and Chief Financial Officer effective April 1, 2007.
Mr. Sinclair brings over twenty years of senior management experience and has a diverse industry background with TSX and NASDAQ listed companies. His senior management experience includes financial management, strategic planning, financings, acquisitions and corporate restructurings.
Prior to joining North American Palladium, Mr. Sinclair ran his own independent consulting practice providing senior level financial and business advisory services. Assignments included involvement in a $40 million private equity financing and an income trust initial public offering. Mr. Sinclair has been Chief Financial Officer of three publicly traded companies, for one of which he supported the successful completion of a $50 million bought deal equity financing. Mr. Sinclair earned his C.A. designation with the accounting firm Arthur Young & Company and has a Bachelor of Commerce degree from the University of the Witwatersrand in Johannesburg, South Africa.
"Fraser's talents are ideally suited to North American Palladium at this stage in our development," stated Jim Excell, President and Chief Executive Officer. "He brings a depth of experience to our organization and his proven track record as a senior financial executive with publicly-held companies will be invaluable as we enter an exciting phase of our development projects in Canada and Finland".
North American Palladium's Lac des Iles Mine is Canada's only primary producer of platinum group metals and is among the largest open-pit/underground palladium mining operations in the world. The Mine also generates substantial revenue from platinum and by-product metals including nickel, gold and copper. NAP is focused on expanding its production profile through joint ventures in Canada and the Arctic Platinum Project in Finland. Palladium's catalytic qualities are expected to play an increasing role in the automotive industry in response to growing concern for global environmental solutions, in fuel cell technology for alternative energy sources and a burgeoning jewellery market, while continuing to have widespread application in the dental, electronics and chemical sectors.

TORONTO, ONTARIO, Apr 02, 2007 (MARKET WIRE via COMTEX) -- This news release contains forward-looking statements. Reference should be made to "Forward-looking Statements" at the end of this news release.
North American Palladium Ltd. ("NAP") (CA:PDL: news, chart, profile) (PAL: north amern palladium ltd com) through its wholly-owned subsidiary Lac des Iles Mines Ltd., is pleased to report an updated mineral resource estimate for its Offset High Grade Zone located at the Lac des Iles Mine in northwestern Ontario.
The Offset High Grade Zone (OHGZ) was first identified in 2001 and is located some 250 metres to the southeast of the High Grade Roby Zone which is currently being mined. To date, the OHGZ hosts more than three times the tonnage of the High Grade Roby Zone and remains open along strike to the north, south and at depth.
In 2006 a successful $3.3 million infill drilling program from surface on the OHGZ permitted the upgrade of a portion of the known Inferred Resource into the Indicated category while also demonstrating good continuity of significant widths with increased copper and nickel grades in comparison to that encountered in the Roby High Grade Zone. (Details of these results have been disclosed in press releases dated September 14 and March 2, 2006.) As a result, the following updated mineral resource estimate was prepared by Scott Wilson Roscoe Postle Associates Inc. In comparison with the previous Inferred Mineral Resource estimate at year end 2005, over 3.2 million tonnes have been upgraded to the Indicated Resource category.

TORONTO, ONTARIO, Apr 16, 2007 (MARKET WIRE via COMTEX) -- North American Palladium (CA:PDL) (PAL: north amern palladium ltd com) -
Highlights
This news release contains forward-looking statements. Reference should be made to "Forward-looking Statements" at the end of this news release.
- Palladium production in Q1 2007 climbed by 68% to 78,805 ounces compared with 47,015 ounces for the same period in 2006
- The average palladium head grade for the quarter was 2.48 g/t compared with 1.79 g/t in Q1 2006
- Overall by-product metal production for the quarter also increased substantially
- Mill availability improved to almost 95%, among the highest rates ever achieved
- 1,288,540 tonnes of ore was processed during the quarter at a Pd recovery rate of 76.6% compared with 1,125,710 tonnes of ore in Q1 2006 at a Pd recovery rate of 72.7%
- Spot palladium prices in Q1 2007 continued to strengthen to an average of US $346 per ounce compared with US $290 per ounce in Q1 2006

North American Palladium Reports Continued Improvement in Production Results for the Third Quarter 2007
Highlights for the Quarter

TORONTO, ONTARIO, Oct 18, 2007 (MARKET WIRE via COMTEX) -- In the third quarter of 2007, the Company's (CA:PDL) (PAL: north amern palladium ltd com) Lac des Iles mine produced 69,283 oz of palladium compared to 59,756 oz produced in the third quarter of 2006 and 66,651 oz in the second quarter of this year. This marks the seventh consecutive quarter of improved production year-over-year reflecting higher recoveries, increased grade and increased tonnage. The average palladium mill feed grade improved slightly to 2.24 g/t compared to 2.20 g/t palladium in the third quarter of last year.
By-product metal production posted similar gains during the quarter with the following year-over-year percentage increases - platinum: +6.0%; gold: +18.8%; nickel: +18.2%; and copper +11.9%.
Mr. Jim Excell, President and CEO said "We are pleased with our continued operational advancements and the increase in tonnage being processed at our Lac des Iles mine. We anticipate that our total palladium production for 2007 will be approximately 285,000 ounces, which reflects a slight reduction of 2% from our previous forecast."
In total 1,308,007 tonnes of ore were processed during the quarter for an average of 14,217 tonnes per day at a palladium recovery rate of 73.8%. This compares to 1,164,029 tonnes or 12,652 tonnes per day at a recovery of 72.7% in the same period last year and 1,244,067 tonnes or 13,671 tonnes per day at a recovery of 73.5% in the second quarter of this year.

North American Palladium Reports Final Drill Results at Ahmavaara Deposit, Finland; Pilot Plant Operation & Feasibility Study Commencing

TORONTO, CANADA, Oct 22, 2007 (MARKET WIRE via COMTEX) -- North American Palladium (CA:PDL: news, chart, profile) (PAL: north amern palladium ltd com) is pleased to announce the final results of an infill drill program at the Ahmavaara deposit, the larger of two deposits that comprise the Suhanko property. The Suhanko property is one of three advanced stage platinum group metal projects located south of Rovaniemi, Finland known as the Arctic Platinum Project ("APP") over which the Company has a right to earn up to a 60% interest from Gold Fields.
A total of 26 holes totalling 4,352 metres in length were drilled in this last phase, completing the 83-hole drilling program. The results of this infill drill program support NAP's interpretation of the geologic continuity and metal distribution that was based upon previous widely spaced drill holes.
In addition to this infill drilling campaign, bulk sampling is underway at both Suhanko property deposits, Ahmavaara and Konttijarvi and is nearing completion. A program of bench-scale metallurgical testing is ongoing in support of a pilot plant test that is expected to be carried out next month.
Mr. Jim Excell, President and CEO of North American Palladium commented, "These drilling results are very encouraging as they continue to confirm the excellent continuity of the metal content and the favourable widths of these shallow mineralized zones at the deposit. In terms of the nickel-copper and PGM's, the Ahmavaara drilling results are broadly comparable to those the Company mines from the open pit portion of its Lac des Isles mine near Thunder Bay, Ontario."
The Company has accepted a proposal from Aker Kvaerner to complete a definitive feasibility study and recently hired a 30-year veteran of the mining industry to oversee the work at APP as it moves closer to satisfying the conditions of its earn-in.

North American Palladium Files Initial NI 43-101 Compliant Mineral Resource Estimate for the Shebandowan West Nickel-Copper-PGM Project

TORONTO, ONTARIO, Oct 25, 2007 (MARKET WIRE via COMTEX) -- North American Palladium Ltd. (CA:PDL: news, chart, profile) (PAL: north amern palladium ltd com) is pleased to announce the results of the first mineral resource estimate for its Shebandowan project, located west of Thunder Bay, Ontario and within 100 kilometres of the Company's producing mine. The Shebandowan West project forms part of a larger series of claims over which the Company has a right to earn a 50% interest under an agreement with CVRD-Inco, who shall own the remaining 50% interest, and encompasses four mineralized zones located at shallow depths known as the Shaft, West, Road and "D" zones.
The mineral resource estimate found that measured and indicated resources for the four zones total approximately 2.58 million tonnes grading 0.91% Ni, 0.62% Cu, 1.09 g/t Pd, 0.34 g/t Pt and 0.23 g/t Au and that inferred resources total an additional 340,000 tonnes grading 1.11% Ni, 0.61% Cu, 0.97 g/t Pd, 0.27 g/t Pt and 0.18 g/t Au.
Mr. Jim Excell, President and CEO of North American Palladium commented: "The results of this mineral resource estimate confirm our view that the mineralization at the Shebandowan West project has the potential to be a profitable operation. Our current plans for this project include an underground mine at Shebandowan West with the material being transported by truck to our existing Lac des Iles operating mine and mill for processing. Studies are underway to examine the technical and economic viability of the various aspects of this mining scenario, A bulk sampling program will commence in the first half of 2008. We wish to acknowledge the dedication and hard work of the members of our exploration team in advancing the property to its current state."
The Shebandowan West project is located in an area lying immediately west of the former Shebandowan mine. The nickel-copper-PGM mineralization found at the Shebandowan West project is believed to represent the western extension of the Shebandowan mine ore body. North American Palladium has been conducting exploration programs targeting known and under-explored zones of nickel-copper mineralization that were located along strike to the west of the former mine. The former Shebandowan mine, which was in operation from 1971 to 1998, produced 8.7 million tonnes at 2.07% nickel, 1.00% copper and approximately 3.0 g/t platinum group elements (PGE) and gold.
The nickel-copper mineralization on the property is hosted by an east-west striking, steeply dipping unit of ultramafic volcanic rocks, and is viewed as having similarities to the nickel-copper mineralization found in the Kambalda region of Australia or in the Raglan area in Canada. On the Shebandowan property, the nickel-copper bearing sulphide minerals (chiefly pendlandite and chalcopyrite, respectively) mainly occur as breccia and stringer style mineralization with sections of semi-massive to massive sulphides. On the Shebandowan West project, nickel-copper mineralization is hosted in each of the four separate zones: Shaft, West, Road Zone (North and South lenses) and D Zone.
The favorable results from these recent drilling programs allowed for the preparation of a National Instrument 43-101 compliant estimate of the mineral resources of the property (details of the drilling results can be found in the Company's news releases contained on its web site at http://www.napalladium.com). The mineral resource estimate was prepared by Mr. Fred H. Brown, CPG, Pr. Sci. Nat. who is an independent Qualified Person. The complete details pertaining to the mineral resource estimate are available in a Technical Report prepared in compliance with the requirements of National Instrument 43-101 which will be posted on the SEDAR website at http://www.sedar.com. The estimated mineral resources were classified according to the guidelines established by the Canadian Institute of Mining, Metallurgy and Petroleum and are shown in Table 1.

TORONTO, ONTARIO, Nov 05, 2007 (MARKET WIRE via COMTEX) -- North American Palladium Ltd. ("NAP")(TSX: PDL) (PAL: north amern palladium ltd com) is pleased to announce that the Company will release its third quarter financial results Tuesday November 6th before market open. A conference call to discuss the results will be held on Tuesday November 6th, 2007 at 4:30 p.m. ET, presided by Mr. Jim Excell, President and Chief Executive Officer. A question and answer period will immediately follow.
To participate in the conference call, please dial one of the following numbers at least five minutes prior to the scheduled time:

Conference Call: Tuesday November 6th 4:30 p.m. ET
--------------------------------------------------
Local Toronto /Overseas: (416) 641-6126
Toll free North America: 1-866-542-4237
To access a replay of the conference call until November 13, 2007:
Local Toronto/Overseas: (416) 695-5800
Toll-free: 1-800-408-3053, access code 3240996

North America Palladium will also host a live audio webcast. The webcast will be available via http://www.napalladium.com or http://www.vcall.com/IC/CEPage.asp?ID=122789. Thereafter access will be available from the Company's website at http://www.napalladium.com, Investor Centre page, under Conference Calls.
North American Palladium is Canada's foremost primary producer of palladium. The Company's core palladium business at the Lac des Iles mine is strengthened by a significant contribution from nickel, platinum, gold and copper by-product metals. The Company continues to pursue three development projects: the Offset High Grade Zone at its Lac des Iles mine, the Shebandowan Project, located approximately 100 kilometers from the mine, and the Arctic Platinum Project in Finland.
Please visit http://www.napalladium.com for further information on North American Palladium.

Contacts:
North American Palladium Ltd.
Jim Excell
President and Chief Executive Officer
(416) 360-7971 Ext. 223
Email: jexcell@napalladium.com

North American Palladium Ltd.
Linda Armstrong
Director, Investor Relations
(416) 360-7971, Ext 226
Email: larmstrong@napalladium.com
Website: http://www.napalladium.com

SOURCE: North American Palladium Ltd.

mailto:jexcell@napalladium.com
mailto:larmstrong@napalladium.com
http://www.napalladium.com

- Palladium production, compared to Q3 2006, increased 16% to 69,283 ounces.

TORONTO, ONTARIO, Nov 06, 2007 (MARKET WIRE via COMTEX) -- North American Palladium Ltd. (CA:PDL: news, chart, profile) (PAL: north amern palladium ltd com) , today announced financial results for Q3 2007. As previously reported, palladium production volumes in Q3 2007 increased to 69,283 ounces representing an improvement of 16% versus the same period last year.
Palladium sales in Q3 2007 were recorded at US $344 per ounce, up 10%, compared to US $313 per ounce in Q3 2006.
Revenue before pricing adjustments for the third quarter of 2007 increased $4.0 million compared to third quarter 2006, reflecting higher volumes and improved commodity pricing of $8.1 million, partially offset by the lower exchange rate of $4.1 million due to continued strengthening of the Canadian dollar. This increase was, however, more than offset by a $6.4 million negative foreign exchange pricing adjustment, arising from the mark-to-market of concentrate awaiting settlement. Revenue after pricing adjustments for the third quarter of 2007 of $36.5 million decreased by $4.9 million (12%) compared to 2006.
For the nine months ended September 30, 2007, revenue after adjustments increased to $149.4 million from $108.4 million reflecting higher volumes and commodity prices of $69.8 million, partially offset by a negative foreign exchange variance of $20.1 million (includes $14.0 million mark-to-market pricing adjustment).
Cash cost per ounce(1) of palladium produced, net of by-product metal revenues and royalties, was $224 (US $225) per ounce for Q3 2007 versus $239 (US $215) per ounce for Q3 2006.
The Company recognized a loss from mining operations of $14.9 million in the third quarter of 2007 compared to a loss of $6.0 million in the same period last year. The loss is due to lower revenue of $4.9 million, which includes negative foreign exchange adjustments of $10.5 million, and increased operating costs of $3.9 million. The increased operating costs are due primarily to increased amortization reflecting the 16% increase in palladium production as well as the adjustment in the mine plan that was effective from the fourth quarter of 2006 and that resulted in an increase in the unit of production amortization rate.
The net loss for Q3 2007 was $14.0 million or $0.25 cents per share compared to a loss of $11.2 million or $0.21 cents per share in the same period last year. For the nine months ended September 30, 2007, the Company's net loss decreased versus the prior year and was $17.6 million or $0.32 cents per share compared to a net loss of $26.7 million or $0.51 cents per share in the comparable period last year.
Operating cash flow(1) (before changes in non-cash working capital) for the quarter improved by $1.4 million to $4.1 million compared to an operating cash flow of $2.7 million in 2006.
The Company's debt position was reduced to $52.6 million at September 30, 2007 compared to $74.9 million at December 31, 2006.
Mr. Jim Excell, President and CEO of North American Palladium commented, "The third quarter production results reflect continued improvements in our Lac des Iles mine operations and year-to-date palladium production is up 31% over last year. Operating cash flow for the quarter improved and our debt levels are down by 30% so far this year, however, the financial results do not reflect this due to the impact of the continued strengthening of the Canadian dollar."
Further information about the third quarter results are available in the Company's financial statements and MD&A, which will be filed on its website, with Canadian provincial securities authorities ( http://www.sedar.com) and with the U.S. Securities and Exchange Commission ( http://www.sec.gov).
Outlook
The Company revised fiscal year 2007 guidance in its October 18, 2007 third quarter production results release to approximately 285,000 ounces of palladium which, if achieved, will be a 20% increase over the previous year. In 2008, the Company will continue to focus on the development of its project pipeline. Project managers have been appointed for the Shebandowan West, Offset High Grade Zone and Arctic Platinum projects. The Company has retained Aker Kvaerner to prepare a definitive feasibility study for the Suhanko project which forms part of the Arctic Platinum project.
Conference Call
The Company will host its third quarter conference call at 4:30 p.m. ET on Tuesday, November 6, 2007. The toll-free conference call dial-in number is 1-866-542-4237 and the local and overseas dial-in number is 416-641-6126. The conference call will be simultaneously webcast and archived at http://www.napalladium.com in the Investor Centre under Conference Calls. A replay of the conference call will be available until November 13, 2007; toll-free at 1-800-408-3053, locally and overseas at 416-695-5800, access code #3240996.