Canadian Palladium Signs 10,000 M Diamond Drill Contract

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FOR IMMEDIATE RELEASE

CANADIAN PALLADIUM SIGNS 10,000 M DIAMOND DRILL CONTRACT

Vancouver, British Colu mbia, January 30, 2 020 – Canadian Palladium Resources Inc. (formerly 21C

Metals Inc.) (the "Company") (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) has signed a contract with Vital

Drilling of Val Caron, Ontario for a 10,000 metre diamond drilling program on the Company’s East Bull

Palladium Property.

With the recent closing of a $4 million non-brokered financing, the planned exploration program is fully

funded. The primary objective of the program is to expand the Company’s current NI 43-101 inferred

resource of 523,000 ounces of Pal ladium equivalent (News Release dated July 3, 2019 ). The present

resource is defined over 1.8 kilometres and drilled down dip (-45o) to 125 metres. The new program will

test the full 3.0 km length, to a depth of 240 metres. The Company’s goal is to expand upon the inferred

resource.

Drilling will commence shortly with the expectation of having core to view at the Prospectors and

Developers Association of Canada (PDAC) Convention in early March. Access to the property is via a

numbered highway that connects to a bush trail previously built to service historic drilling. Selection of

diamond drill sites by the company’s geologists and advisors has commenced.

Wayne Tisdale states “Given the recent and unprecedented increase in palladium prices, we want to move

quickly to expand our inferred resource. The closing of our financing and the commencement of our

exploration program allows us to do exactly that.”

For additional information please contact:

Canadian Palladium Resources Inc.

Wayne Tisdale, President and CEO

T: (604) 639-4472

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the

adequacy or accuracy of this release.