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FOR:   NORTH AMERICAN PALLADIUM LTD.

TSE SYMBOL: PDL

OCTOBER 10 2000 - 13:22 EDT

North American Palladium Files Final Prospectus For
Treasury  Offering


THUNDER BAY (TSE-PDL) North American Palladium Ltd. filed a final
prospectus on October 6, 2000 with securities commissions for a
treasury offering of 23,157,895 common shares at a price of $9.50
per share for gross proceeds of C$220 million. North American
Palladium has granted to the underwriters a 30 day option to
purchase up to an additional 1,894,737 common shares on the same
terms. The offering will be made in each of the provinces of
Canada and in the United States under the provisions of the
Multi-Jurisdictional Disclosure System. The underwriting
syndicate is led by BMO Nesbitt Burns Inc. and co-managed by RBC
Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc.
and National Bank Financial Inc.

The company's principal shareholder Kaiser-Francis Oil Company
has agreed to purchase 13,157,895 common shares under this
offering to maintain its current ownership interest in the
company.

The Toronto Stock Exchange and the American Stock Exchange have
conditionally approved the listing of the offered common shares,
subject to the company fulfilling the requirements of such
exchanges.

The closing of the offering is expected to take place on or about
October 13, 2000, or such later date as may be agreed upon by the
parties, but in any event not later than November 16, 2000.

/T/_______________________________________________________________
For further information contact:
Keith C. Minty - President and C.E.O.
Tel: (416) 360-2656 / Fax (416) 360-7709
or
George D. Faught - Vice President Finance & C.F.O.
Tel: (416) 360-2650 / Fax (416) 360-7709

Website Address: www.napalladium.com
_______________________________________________________________

/T/







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