Canadian Palladium Resources Inc. completed the acquisition of 15 Mineral Tenements in the Lithium Valley in Minas Gerais state, Brazil for approximately CAD 4 million.

Canadian Palladium Resources Inc. entered into a share purchase agreement to acquire 15 Mineral Tenements in the Lithium Valley in Minas Gerais state, Brazil for approximately CAD 3.5 million on November 9, 2023. The consideration consists of an aggregate of 12,000,000 common shares of Canadian Palladium Resources and cash payments totaling CAD 0.3 million, CAD 0.1 million of which is to be paid on completion of the transaction and a further CAD 0.2 million of which is to be paid within three months from the closing date. The completion of the transaction is subject to a number of customary terms and conditions.

The acquisition will be funded through non-brokered private placement and intends to use a portion of the net proceeds of the Concurrent Financing to fund the cash payments payable under the transaction. The Company intends to utilize the net proceeds from the Second Tranche Financing to explore the Property, conduct a drilling campaign at the Company's Tisova/Klinenthal copper/cobalt exploration project, commission a Preliminary Economic Assessment for the Company's East Bull palladium project, and for general working capital requirements.