Second Progress Update on the Tailings Leak at North American Palladium's Lac des Iles Mine

Trading Symbol TSX - PDL AMEX - PAL 


TORONTO, Feb. 10  /PRNewswire-FirstCall/ -- North American Palladium Ltd. announced today that milling operations at its Lac des Iles mine were resumed last night.

The leak, which occurred on Saturday, flooded the milling and primary crusher areas, leading to an initial shutdown of these operations. The mill has since been brought back online; however there was significant damage to the electrical switchgear at the primary crusher. Mill feed from the crushed ore stockpile will be supplemented with crushed ore from portable crushers. It is expected that the primary crusher will be fully operational by Tuesday of next week.

In making this announcement, Jim Excell, President and CEO, stated, "I would like to take this opportunity to thank our dedicated team of employees at the mine site for their perseverance during this challenging time. Their hard work has proved to be invaluable and I am confident that the primary crusher will be operating by mid-next week."

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North American Palladium's Lac des Iles Mine is Canada's only primary producer of platinum group metals and is one of the largest open pit bulk mineable palladium reserves in the world. The Company also earns substantial revenue from by-product nickel, platinum, gold and copper. In addition to operating Lac des Iles, the Company's mandate is to expand its production profile through an aggressive exploration campaign, designed to increase its exposure to base and precious metals. Palladium use in the auto industry continues to be an important component in controlling exhaust emissions as mandated by more stringent hydrocarbon emissions standards for cars, particularly in the United States, Europe and Japan. Palladium is also used in the dental, electronics, jewellery and chemical sectors.

Forward-Looking Statements - Certain statements included in this news release are forward-looking statements which are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used herein, words such as "expect" and other similar expressions are intended to identify forward-looking statements. Such forward- looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond our control that may cause actual results or performance to differ materially from those currently anticipated in such statements. See the Company's most recent Annual Information Form and Annual Report on Form 40-F on file with securities regulators for a comprehensive review of risk factors. The Company disclaims any obligation to update or revise any forward-looking statements whether as a result of new information, events or otherwise. Readers are cautioned not to put undue reliance on these forward-looking statements. 

DATASOURCE: North American Palladium Ltd.



CONTACT: James D. Excell, President & CEO, Tel: [phone], email:

; Krista M. Muhr, Manager, Investor Relations, Tel:

[phone], email: 

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