Mr. James Newall reports

CANADIAN PALLADIUM ANNOUNCES CLOSING OF ACQUISITION OF MINERAL PROPERTIES IN EAST BRAZILIAN 'LITHIUM BELT

Further to its press release dated Nov. 9, 2023, Canadian Palladium Resources Inc. has completed its arm's-length acquisition of all of the issued and outstanding securities of 1439266 B.C. Ltd. in consideration for an aggregate of 12 million common shares of the company issued at a deemed price of 31.5 cents. 1439266 B.C. is the legal and beneficial owner of a 100-per-cent interest in and to 15 mineral tenements totalling 24,427.28 hectares located in the Lithium Valley in Minas Gerais state, Brazil.

The property is located in the east Brazilian lithium belt, sometimes called Lithium Valley, which is home to three operating lithium mines, including Sigma Lithium's Groto do Cirilo mine and numerous advanced exploration projects such as Atlas Lithium's Neves project.

Pursuant to the acquisition, the shareholders of 1439266 B.C. will also receive, on a pro rata basis, an aggregate cash payment of $200,000, which is to be paid within three months. In addition, 1439266 B.C. carries indebtedness of $100,000 in relation to a loan received by it for purposes of making a $100,000 payment to the original property vendor. The company will indirectly assume this obligation to pay this loan, with payment due within three months. All securities issued in connection with the acquisition will be subject to a hold period expiring on the date that is 10 days following the date on which the company files a business acquisition report in respect of the acquisition.

We seek Safe Harbor.