Canadian Palladium Intersects 19 Metres Grading 1.77 g/t PdEq at East Bull

Canadian Palladium Resources Inc. continues to receive additional significant assay results from the East Bull Palladium Deposit, 90 kilometres west of Sudbury. The drill results reported in this release are from three holes at the west end of the Deposit. These results extend the Garden Zone and the recently discovered EOH Zone that is interpreted as a mineralized feeder dyke below the Garden Zone. 

Highlights from holes EB-21-70 to 72 include:

• Hole EB-21-71 had a wide 15.0 m intersection grading 1.36 g/t PdEq including 6.0 m at 2.13 g/t PdEqin the new EOH Zone;
• Hole EB-21-72 had a wide 19.0 m intersection grading 1.77 g/t PdEq including 14 m at 2.08 g/t PdEq in the main Garden Zone.

Wayne Tisdale, Canadian Palladium's CEO, commented, "The consistency of the Garden Zone mineralization has been outstanding and it contains some great higher-grade intersections. With the discovery of the EOH Zone below the Garden Zone we are intersecting multiple mineralized zones in some of our drill holes. We look forward to including these results in our updated Resource Estimate in Q4."

Drill Results - The results are part of a 15,000 m drill program with a primary objective of expanding the current Inferred Resource and discovery of new mineralization. See Figure 1 showing the hole locations. 

Hole EB-21-70 intersected 20 m at a grade of 0.994 g/t PdEq in the Garden Zone and drilled over the top of the EOH Zone. Hole EB-21-71 intersected both the Garden Zone and the underlying EOH Zone with the higher-grade mineralization on the south side of the EOH Zone. Hole EB-21-72 is the eastern most of the holes reported here and was designed to extend the Garden Zone down dip. The higher-grade mineralization in EB-21-72 is located at the base of the Garden Zone.

Pd-Eq grade based on parameters in the May 23, 2019, NI 43-101 Resource Estimate and Technical Report. Metal prices are based on 24-month trailing averages at January 31, 2018. In US$ these prices are: Pd - $767/oz; Pt - $973/oz; Rh - $1,000/oz; Au - $1.262/oz; Cu - $2.53/lb; Ni - $4.62/lb; Co - $20/lb.

The Garden Zone palladium mineralization is primarily hosted within a 45-degree-north-dipping vari-textured melagabbro unit near the basal contact of the East Bull gabbro. Drilling has successfully focused on testing the strike and downdip extensions of this contact-type mineralization that is typically tens of metres thick. 

The EOH Zone now has several drill intersections and further assay results on the EOH Zone are pending. The disseminated sulphide mineralization in the EOH Zone is associated with an inclusion-rich melagabbro feeder dyke or conduit for the Garden Zone. The current results indicates that the EOH Zone is northeast striking with a subvertical dip. The Zone is open on strike and down dip.

The diamond drill holes were all drilled at an azimuth of 180o with inclinations of -60o. Reported widths are drilled widths. True widths estimated to be 90% of the intersections for the Garden Zone. The orientation of the EOH Zone is not sufficiently well defined to estimate true widths at this time. In addition to results reported here, rhodium is being analyzed and will be reported at a later date.

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