NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS



FOR:  NORTH AMERICAN PALLADIUM LTD

TSE SYMBOL:  PDL

APRIL 22, 1998

North American Palladium Ltd. Land Acquisition And
Progress Report

THUNDER BAY, ONTARIO - North American Palladium Ltd. announced 
today that it has recently purchased or staked a total of 12,290 
acres of mineral lands within a 50 mile radius of the Lac des Iles
property bringing its total holdings to approximately 23,758 
acres.  In commenting on the land acquisition, Mr. Keith C. Minty,
President stated that due to the rapid increase in palladium 
market prices to the US$300 per ounce range, there has been 
extensive mineral claim staking activity in the Thunder Bay mining
district and believed it to be in the best interest of the Company
to expand its current exploration program to include areas 
surrounding the Lac des Iles operation.  In acquiring these 
claims, the Company will be able to make considerable use of 
historical exploration data generated as far back as the 1960's 
and include the newly acquired claims in the upcoming exploration 
season. 

In addition, Mr. Minty stated that significant progress is being 
made at the Lac des Iles mine to advance operations and enhance 
shareholder value.  Since January, 1998, the Company has reduced 
the work force by 30%, including management, administration and 
operations without decreasing mine and mill production.  

New operation practices have been implemented in the open pit to 
improve grade control and productivity, including improvements in 
drilling and blasting procedures which have significantly reduced 
secondary ore breakage costs.  Grade control in the pit is now an 
integral part of the mining operation. 

In an effort to reduce and modernize the mobile equipment fleet, 
replacement of the current outdated and inefficient loading 
equipment is scheduled for the second quarter. This equipment will
be replaced with new, larger and more efficient loading units. 

Automation of several operating areas in the mill are in progress 
and are scheduled to be completed during the second quarter.  The 
Company has also commenced a thorough review of its concentrate 
shipping and smelting agreements and its metal trading policies. 

Lac des Iles mine is the largest primary producer of palladium in 
Canada.  The Lac des Iles mine site is located approximately 55 
miles north north-west of Thunder Bay, Ontario, Canada and 
consists of a 2,650 ton per day flotation mill fed from the 
adjacent open pits. 

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FOR FURTHER INFORMATION PLEASE CONTACT:
North American Palladium Ltd
Joanne Kerr
Corporate Secretary
(807) 345-4479

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