Palladium One Mining Inc. announced Initial down plunge drilling, has intersected the widest ore-grade intercept to date, southwest of the 2019 open-pit constrained MRE of the Kaukua Deposit. Hole LK21-105 intersected 2.1 g/t Pd_Eq over 33.5 meters, within 1.6 g/t Pd_Eq over 121.1 meters, starting at a true depth of approximately 260 meters. These drilling results extend a broad, >200-meter wide 'core zone' of mineralization 250-meters southwest of the existing conceptual open-pit, and it remains open for expansion.

Importantly, the 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 encountered some of the thickest intercepts (>100m) to date within the deposit.