High Grade Mineralization Extended 250 Meters Southwest Of Kaukua Open Pit Resource

TORONTO – Palladium One Mining reported that initial down plunge drilling, has extended mineralization 250 meters southwest of the open-pit constrained MRE of the Kaukua Deposit, by intersecting 2.2 g/t Pd_Eq over 19.6 meters, within 1.5 g/t Pd_Eq over 74.5 meters, starting at 273 meters down hole (LK21-101).

Derrick Weyrauch, President and CEO, said, “The high-grade “Core Zone” of the Kaukua Deposit has been extended to the southwest and remains open for expansion. These are among the thickest intercepts to date within the Kaukua Deposit and will add significant tonnage to our existing resource endowment. An updated NI43-101 Mineral Resource Estimate is schedule for Q1 2022 and will incorporate these valuable results.”

These drilling results extend the Kaukua Deposit mineralization southwest of the existing conceptual open-pit, where it remains open. Previous geological interpretations suggested that the Kaukua deposit was cut-off by a northwest trending fault, occupying a distinct magnetic low and topographic lineament. Drilling has now demonstrated that the magnetic low is the result of a later cross cutting dyke (now referred to as the high-titanium gabbro dyke) and that the Kaukua deposit remains open to the south. Significantly the high-grade “Core Zone” of the Kaukua Deposit has been extended 250 meters to the southwest and we have encountered some of the thickest intercepts (>100m) to date within the deposit.