Canadian Palladium Completes Sale of Turner Lake Project

Vancouver, British Columbia--(Newsfile Corp. - July 28, 2020) - Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) (formerly 21C Metals Inc.) (the "Company") announces that the Company has completed the sale of the Turner Lake property (the "Property"), located in Nunavut, Canada, pursuant to a mineral purchase agreement (the "Agreement") entered into with Pacific Cascade Minerals Inc. ("PCV"), as previously announced on September 13, 2018.

Under the terms of the Agreement PCV agreed to purchase a 100% right title and interest in the property in exchange for 1 million common shares of PCV which were delivered to the Company after PCV received TSX Venture Exchange approval for the transaction. The Company was also reimbursed $46,720 by PCV representing prior cash expenditures incurred on the Property. Upon commencement of commercial production, PCV shall pay a royalty to the Company equal to 1% of net smelter returns which may be purchased for the sum of $1,000,000 at any time after commercial production.

Canadian Palladium Resources Inc.
Wayne Tisdale, President and CEO
T: (604) 639-4472

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60680

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