Palladium One Mining Inc. provided an exploration update for the Canalask Nickel - Copper Project, in Yukon, Canada. The Company competed a drone-based magnetometer survey over the entire Canalask project. This survey consisted of 392-line kilometers at 100-meter spacing and helped refine the location and structure of the Ni-Cu-PGE prospective ultramafic dyke and will greatly assist in the refinement of drill targeting. In addition, a reconnaissance site visit returned grab sample assays over 2% nickel, 6% copper and 1.55 g/t gold. These results support the high grades that were historically reported in footwall-style sulphide mineralization at the Canalask deposit. Due to a history of shallow exploration efforts near the Canalask deposit, the project hosts an abundance of historical trails that can be used for access. The Class 1 Exploration Permit allows various exploration activities, including diamond drilling on existing disturbed ground such as access trails and drill trails while no new disturbances are permitted. Additional permit applications to support greater exploration activities remain underway. The Company has made significant progress with regulatory authority engagement as part of a Class III Exploration Permit application. Receipt of a Class III Permit would allow new ground disturbances including the work required to start systematically drill testing the historical electromagnetic ("EM") targets associated with the ultramafic dyke. The Canalask Property is located within the Whitehorse Mining District, approximately 300 kilometers northwest of Whitehorse, Yukon and is accessible from the Alaska Highway near Beaver Creek. The Canalask Property consists of a contiguous block of 179 quartz claims covering approximately 3,400 hectares. Exploration dates to the 1950s when the Canalask footwall zone was originally discovered, drilled, and
partially developed. A historical resource estimate on the Main Zone is quoted at 400,000 tonnes at 1.35% nickel by Discovery Mines Ltd. in 1968. Early Metallurgical floatation test work returned concentrate grades as high as 19.7% nickel. Exploration continued up to the early 2000s through a series of surface programs including geochemical surveys, geological mapping, and geophysics. During these campaigns, numerous high-grade Ni-Cu-PGE showings such 4.7% Nickel, 0.6% Cu and 6.82 g/t TPM in grade samples at the Discovery Zone, were discovered along the length of the ultramafic-mafic dyke. In 2006, Xstrata completed an assessment Report summarizing this earlier work. Readers are cautioned that the Company has not verified the 1968 Historical Mineral Resource Estimate and therefore the data should not be relied upon. The Canalask Property covers the lateral extent of the northwest - southeast striking, steeply dipping "White River Intrusive Complex" (WRIC) which is part of the larger Kluane Mafic-Ultramafic Belt. The Kluane Belt extends from northern British Columbia to east-central Alaska, within the Pennsylvanian to Triassic Wrangellia Terrane volcanics and sediments. The belt is host to numerous nickel-copper +/- platinum-palladium deposits and prospects, most notably the past producing Wellgreen Deposit, now owned by Nickel Creek Platinum Corp., approximately 110 kilometers to the south. The WRIC occurs as a sill-like body of ultramafic and mafic rocks 100 to 150 meters thick and dipping approximately 50 degrees to the southwest. The northern margin of the WRIC represents the basal footwall contact zone while the southern margin delineates the upper hanging wall intrusive contact. The intrusion itself is dominantly composed of peridotite and dunite with a mineralized basal gabbro zone. The WRIC is a favourable setting for magmatic nickel-copper sulphide mineralization and is considered a "feeder system" with a high volume of magma flow. As evidenced by the abundance of magmatic Ni-Cu-PGE showings at the base of the WRIC and the discovery of the nickel-rich Canalask footwall deposit, the project hosts strong potential for both "magmatic feeder-type" basal deposits and "epigenetic footwall-type" footwall deposits. The geological setting draws comparison to the world-class Norilsk Ni-Cu-PGE camp.