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Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer -- Ignore unavailable to you. Want to Upgrade?

To: Ptaskmaster who wrote (353)	11/12/1999 11:37:00 PM
From: Claude Cormier	Read Replies (2) \| Respond to of 976

Of course I follow PDL... They've brought their act together and god do I love those recent results. In fact I am hoping to move some money from BAY into PDL once BAY reach its high sometimes in 1Q2000. I am looking for a corretion in palladium prices that would allow me to get in cheap. But I am following the story very closely. I like very much Altoro...I am not in yet. Drilling is startin Nov 22... Good surface results. The third one I am watching is Pacific North West. Don't know about NAP... wherte does it trade...do you have more details ?

To: Ptaskmaster who wrote (353)	11/16/1999 12:32:00 PM
From: Sleeper	Read Replies (2) \| Respond to of 976

And the good news just keeps on coming... Sleeper Tuesday November 16, 12:02 pm Eastern Time Company Press Release North American Palladium Ltd. Announces Updated Geological Resource Estimate For Lac des Iles Palladium Deposit THUNDER BAY, Ontario--(BUSINESS WIRE)--Nov. 16, 1999--(TSE:PDL - news) North American Palladium Ltd. is pleased to announce an updated geological resource estimate for the Company's Lac des Iles palladium deposit. The deposit is now estimated to contain total Measured and Indicated Resources of 94.1 million tonnes at 1.66 g/t Pd, 0.18 g/t Pt, 0.14 g/t Au, 0.062% Cu and 0.053% Ni at a Pd cut off grade of 0.7 g/t. The total contained metal in this resource is 5.0 million ounces palladium, 0.5 million ounces platinum, 0.4 million ounces gold, 128 million pounds copper and 108 million pounds nickel. This resource estimate was developed by AGRA Simons Limited and is part of a full feasibility study being conducted by AGRA Simons Limited on an expansion of the open pit mining operation at Lac des Iles. The new resource includes all of the results from the Company's 1999 diamond drilling program and represents a substantial increase in tonnage and total contained metal from the resource reported in August 1999. As a result of this resource estimate for the Lac des Iles deposit, the feasibility study will evaluate a 15,000 tonne per day milling operation. The Lac des Iles palladium deposit is contained mainly within the Roby Zone. The resource has been delineated for a strike length of over 1,000 metres and to a depth of approximately 500 metres. The Roby Zone is fully open at depth and partially open to the southeast. The 0.7 g/t Pd cut off approximates the economic cut off that is being developed in the feasibility study for the expanded open pit operation. The attached table provides details of the Measured and Indicated components of the resource at the 0.7 Pd cut off grade. Since initiating the full feasibility study, the Company has started reporting geological data including resources in metric units. The mineral resources are reported here according to the guidelines defined in 1996 by the Committee on Mineral Resource Definitions of the Canadian Institute of Mining, Metallurgy and Petroleum. The new resource for Lac des Iles is based on a total of 34,551 assay intervals from 93,415 metres of drilling in 419 diamond drill holes and 183 percussion drill holes. The resource estimate was developed using a kriged block model with blocks controlled by geological units. No cutting of assays was done, although the influence of extreme high-grade intersections was limited, and the resource is undiluted. Total nickel has been adjusted to soluble nickel. A density of 2.88 tonnes/metre3 was used for all geological units. Measured Resource blocks are within 6 metres of a sample composite and Indicated Resource blocks are either within 18 meters of a composite or within 40 metres of 2 or more composites provide one composite is within 25 metres. Based on production experience, the Company has not included Inferred Resources in the resource estimate. The full feasibility study on expansion of the mining operation will be completed in late 1999. A new mineral reserve will be reported as part of the feasibility study. A decision will be made on expansion in early 2000 and will be based on results of the feasibility study, availability of suitable financing, and environmental and expansion permits. In 1998, the Company, through its wholly owned subsidiary Lac des Iles Mines Ltd., produced 84,228 ounces palladium, 5,535 ounces platinum, 5,079 ounces gold plus copper and nickel. The major use of palladium is in autocatalysts that significantly reduce automobile emissions. North American Palladium Ltd. operates Canada's only primary PGM mine and is the world's largest open pit palladium producer. The Lac des Iles mine is located 85 km north of Thunder Bay, Ontario, Canada. Measured and Indicated Resources, Lac des Iles palladium deposit, November 15, 1999: =============================================================== Cut off Resource grade Category Tonnes Average Grades --------------------------------------------------------------- Pd g/t (million) Pd g/t Pt g/t Au g/t Cu % Ni % =============================================================== 0.7 g/t Measured 12.529 1.83 0.19 0.14 0.065 0.055 --------------------------------------------------------------- 0.7 g/t Indicated 81.585 1.63 0.18 0.13 0.062 0.052 --------------------------------------------------------------- 0.7 g/t Total 94.114 1.66 0.18 0.14 0.062 0.053 =============================================================== Forward Looking Statements -- Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding Lac des Iles feasibility Studies, financing, permitting and exploration programs. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in ore grade, ore tons milled, geological, technical, mining or processing problems, future results of exploration programs, availability of financing and possibility of lack of operating capital. The Company disclaims any obligation to update forward looking statements.