BULL.CN · 2020-05-13 12:00:00

Canadian Palladium’S Valhalla Zone Continues to Yield Consistent Palladium Results at East BULL

Corporate Updates

FOR IMMEDIATE RELEASE

CANADIAN PALLADIUM’S VALHALLA ZONE CONTINUES TO YIELD

CONSISTENT PALLADIUM RESULTS AT EAST BULL

Vancouver, British Columbia, May 13, 2020 – Canadian Palladium Resources Inc. (formerly

21C Metals Inc.) (the "Company") (CSE: BULL ) (OTCQB: DCNNF) (FSE: DC R1) is

pleased to announce th e analytical sample complete results for diamond drill holes EB -20-01 to

EB-20-10 (EB-20-11 paused) on it’s East Bull Palladium Property, 90 kilometres west of Sudbury,

Ontario. The Company has completed 10 diamond drill holes (1841 metres) prior to shutting down

with the COVID-19 pandemic. Further, the MT survey previously announced has been completed

and is being interpreted.

The diamond drilling to date has focused on the east end of the Valhalla Zone testing the

Palladium zone to determine if there are structural controls and continuity downdip and along

strike within the inferred resource (see press release dated July 3, 2019).

Significant Diamond Drill Intercepts

Hole From

Metres

To Metres Length

Metres

Palladium

Grams/Ton

Platinum

Grams/Ton

EB-20-01 28.0 38.0 10.0 2.50 1.12

includes 28.0 35.0 7.0 3.32 1.51

EB-20-02 37.0 42.0 5.0 1.14 0.39

EB-20-03 27.0 38.0 11.0 1.61 0.69

includes 27.0 31.0 4.0 3.63 1.31

EB-20-06 70.0 74.0 4.0 0.78 0.22

EB-20-07 109.0 118.0 9.0 2.14 0.82

includes 109.0 115.0 6.0 2.82 1.06

124.00 134.00 10.00 0.55 0.22

EB-20_08 66.00 71.00 5.00 0.62 0.30

EB-20-09 58.00 62.99 4.00 0.92 0.90

Highlighted results are recent

Individual Intercepts of EB-20-01 to EB-20-10

Note: 1000 ppb equals 1 gram/ton

Hole From

Metres

Length

Metres

ppb

Comments

EB-20-01 28.00 38.00 10.0 2500

28.00 29.00 1.00 2830 1810 75 First sample,

need to add

samples above

29.00 30.00 1.00 5040 2650 230

30.00 31.00 1.00 5530 2670 454

Duplicate of 587753 5760 2620 466

31.00 32.00 1.00 2620 1010 170

32.00 33.00 1.00 3840 1370 173

33.00 34.00 1.00 2010 671 120

34.00 35.00 1.00 1260 421 135

35.00 36.00 1.00 968 272 51

36.00 37.00 1.00 198 83 12

Standard CDN-PGMS-19 465 115 214

37.00 38.00 1.00 639 296 36

EB-20-02 37.0 42.0 5.0 1136

37.00 38.00 1.0 1230 470 49 First sample,

need to add

samples above

38.00 39.00 1.0 1410 435 60

39.00 40.00 1.0 785 261 61

40.00 41.00 1.0 1940 670 62

Standard CDN-PGMS-19 504 118 219

41.00 42.00 1.0 317 88 25

EB-20-03 27.00 38.0 11.0 1613

includes 27.00 31.0 4.0 3627

27.00 28.00 1.00 941 447 21 First sample,

need to add

samples above

28.00 29.00 1.00 4310 2560 177

29.00 30.00 1.00 2880 1360 225

30.00 31.00 1.00 2020 833 56

Duplicate of 587689 2230 912 49

31.00 32.00 1.00 813 289 51

32.00 33.00 1.00 1330 496 60

33.00 34.00 1.00 821 262 48

34.00 35.00 1.00 1020 312 83

35.00 36.00 1.00 1270 378 73

36.00 37.00 1.00 778 211 112

37.00 38.00 1.00 1460 447 109

Hole From

Metres

Length

Metres

ppb

Comments

EB-20-04 No significant Values Additional

samples required

EB-20-05 No significant Values Additional

samples required

EB-20-06 70.00 74.00 4.00 784

70.00 71.00 1.00 535 123 17 Additional

samples required

71.00 72.00 1.00 1390 395 71

72.00 73.00 1.00 356 90 20

73.00 74.00 1.00 853 270 55

EB-20-07 58.00 59.00 1.00 4010 2130 24

70.00 71.00 1.00 1250 493 79

109.00 118.00 9.00 2141

includes 109.00 115.00 6.00 2823

109.00 110.00 1.00 2310 428 91

Standard 488 105 202

110.00 111.00 1.00 1450 682 284

111.00 112.00 1.00 509 453 15

112.00 113.00 1.00 8190 3010 264

113.00 114.00 1.00 731 361 289

114.00 115.00 1.00 3750 1430 140

115.00 116.00 1.00 785 438 49

116.00 117.00 1.00 811 332 55

117.00 118.00 1.00 735 271 88

NEW REPORTING OF RESULTS BELOW

124.00 134.00 10.00 545 218 53

124.00 125.00 1.00 703 228 25

125.00 126.00 1.00 365 159 37

126.00 127.00 1.00 933 445 105

127.00 128.00 1.00 1290 580 140

Blank 6 < 5 < 2

128.00 129.00 1.00 476 229 78

129.00 130.00 1.00 107 51 17

130.00 131.00 1.00 450 160 32

131.00 132.00 1.00 219 71 15

132.00 133.00 1.00 626 193 52

133.00 134.00 1.00 190 65 32

EB-

20_08 66.00 71.00 5.00 624 299 59

66.00 67.00 1.00 635 246 72

67.00 68.00 1.00 291 122 64

68.00 69.00 1.00 1560 843 66

69.00 70.00 1.00 149 40 46

Hole From

Metres

Length

Metres

ppb

Comments

70.00 71.00 1.00 483 246 48

EB-20-

09 58.00 62.99 4.00 922 899 52

58.00 59.00 1.00 407 150 25

59.00 60.00 1.00 173 108 19

60.00 61.00 1.00 2900 1580 123

61.00 62.00 1.00 196 111 36

Duplicate of above 42 124 223

EB-20-

10 No significant assays Additional

samples required

EB-20-

11 Paused at 80 metres Not to Target Yet

Individual demarked samples were sawn in half, bagged, sealed and transported by courier

to Activation Laboratories (ISO/IEC 17025 Certified) in Ancaster Ontario. Duplicates and

standards were introduced to the sample stream as illustrated. Each sample was analysed

using the Activation Laboratories codes RX1, 1C-OES 50 g (Au, Pt, Pd); 1F2 Total

Digestion ICP.

Intercept widths are core width.

Diamond Drill Hole Statistics

HOLE-ID UTM_E UTM_N Elevation LENGTH AZIMUTH DIP COMMENT

EB-20-01 405253 5141487 356 101 180 -45

EB-20-02 405253 5141487 356 200 180 -70

EB-20-03 405210 5141482 355 149 180 -45

EB-20-04 405303 5141559 364.28 200 180 -70

EB-20-05 405414 5141711 374 269 180 -50

EB-20-06 405265 5141538 360 170 180 -50

EB-20-07 405369 5141562 382 170 180 -45

EB-20-08 405369 5141562 382 179 180 -70

EB-20-09 405497 5141589 379 200 180 -70

EB-20-10 405608 5141577 381.09 203 180 -70

EB-20-11 405740 5141640 360 200 180 -70 In progress

NAD 1983

Canadian Palladium has sent the significant Palladium zones for rhodium for analyse.

The Company expects to recommence the diamond drill program within two weeks, provided

there are no changes in the COVID-19 pandemic effects in the Sudbury area.

Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in

NI 43-101, who has reviewed and approved the technical content in this press release.

Wayne Tisdale commented, “The results from the drilling to date have continued to be what w as

expected and we are learning more about the Palladium mineralization. Our geological team await

the MT modelling they believe will help in the definition of further targets. We are excited about

getting the program fully started again in the next few weeks.”

Canadian Palladium Resources Inc.

Wayne Tisdale, President and CEO

T: (604) 639-4472

Reader Advisory

This news release contains certain "forward -looking information" within the meaning of applicable securities law.

Forward-looking information is fre quently characterized by words such as "plan", "expect", "project", "intend",

"believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or

"will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements

with respect to the re-commencement of drilling, which has been temporarily suspended due to COVID-19. Although

we believe that the expectations reflected in the forward -looking information ar e reasonable, there can be no

assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or

achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole o r

in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are

made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results

to differ materially from those anticipated in the forward -looking information. Some of the risks and other factors

that could cause the results to differ materially from those expressed in the forward-looking information include, but

are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental

regulation and environmental regulation; failure to obtain industry partner and other third party consents and

approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals

from regulatory authorities; stock market volatility; liabilities inherent in water disposal facility operations;

competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions;

geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure

to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that

this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

We undertake no duty to update any of the forward-looking information to conform such information to actual results

or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are

cautioned not to place undue reliance on forward-looking information.

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

adequacy or accuracy of this release.

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