Hole LK20-016 has the best combination of grade and width of all the results from the LK Project to date, said Palladium One Mining Inc. Located 1,350 m east of the most westerly hole in Kaukua South, LK20-016 starting at only 23.5 m down hole, returned 62.7 m at 3.52 g/t of palladium equivalent, including 18.5 m at 4.58 g/t Pd_Eq.

Key highlights:

In Hole LK20-016, the core interval of 18.5 m at 4.58 g/t Pd_Eq starts near surface at 47.5 m down hole.

Hole LK20-019 started in mineralization and hit 35.0 m at 2.76 g/t Pd_Eq and also started near surface after 17.3 m of overburden.

Holes LK20-016 and LK20-019 are located 750 m east of hole LK20-006 (see news release dated August 11, 2020), which returned 166.7 m at 1.16 g/t Pd_Eq, including a core zone of 63.4 m at 1.88 g/t Pd_Eq.

Holes LK20-016 and LK20-019 are 1,350 m east of hole KAU-08-035, which returned a core zone of 33.0 m at 1.90 g/t Pd_Eq.

Continuity between holes LK20-006 and LK20-016 demonstrates potential to rapidly add ounces, providing the opportunity to significantly increase the existing NI 43-101 Kaukua open pit resource.

All holes drilled in the Kaukua South Extension have returned PGE-Ni-Cu mineralization and are open along strike and at depth.

Palladium One has now confirmed PGE-Ni-Cu mineralization over 4 km of strike length at the Kaukua South zone and the zone remains open laterally for expansion both to the east and west, as well as depth