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FOR:  NORTH AMERICAN PALLADIUM LTD.

TSE SYMBOL:  PDL
NASDAQ SYMBOL:  PDLCF

JANUARY 9, 1998

North American Palladium Ltd. Announces Appointment

THUNDER BAY, ONTARIO--North American Palladium Ltd. ("NAP") 
announced today the appointment, by resolution of the Board of 
Directors, of  Mr. Keith C. Minty as President and Director of NAP
and its wholly owned subsidiary Lac des Iles Mines Ltd., to 
succeed Michael P. Amsden who has been acting as President on an 
interim basis. 

The Company wishes to extend its appreciation and gratitude to Mr.
Amsden for his interim services and congratulates him on an 
excellent job.  Mr. Amsden has agreed to continue as a Director of
NAP. 

Mr. Minty is a registered Professional Mining Engineer with twenty
years experience nationally and internationally in underground and
open pit mining operations.  He brings a wealth of experience in 
mine operations, engineering, project evaluations and feasibility 
studies, mine construction supervision, staffing, equipment 
selection-acquisition and start-up.   Mr. Minty will be residing 
in Thunder Bay and will situate his office at the Lac des Iles 
mine-site. 

The Company has engaged a team of consultants with extensive 
experience in the mining industry to conduct a complete review of 
operations and to p