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North American Palladium Files Preliminary Base Shelf Prospectus

June, 07, 2017

TORONTO, ONTARIO -- (Marketwired) -- 06/07/17 -- North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL)(OTC PINK:PALDF) announced today that it has filed a preliminary base shelf prospectus (the "Shelf Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada (other than Quebec). The filing is part of the Company's ordinary course of business.

The Shelf Prospectus, when made final, will enable NAP to make offerings of up to $75,000,000 of (i) common shares; (ii) senior and subordinated unsecured debt securities, including debt securities convertible or exchangeable into other securities of NAP; (iii) subscription receipts; (iv) warrants; (v) share purchase contracts; and (vi) units comprised of one or more of the foregoing securities, during the 25 month period that the Shelf Prospectus, including any amendments thereto, remains valid. The nature, size and timing of any such financings (if any) will depend, in part, on NAP's assessment of its requirements for funding and general market conditions. Unless otherwise specified in the prospectus supplement relating to a particular offering of securities, the net proceeds from any sale of any securities will be used for general working capital purposes, and for one or more other general corporate purposes including to repay existing or future indebtedness and to finance future growth opportunities. The specific terms of any future offering will be established in a prospectus supplement to the Shelf Prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities.

A copy of the Shelf Prospectus is available on SEDAR (www.sedar.com) and also may be obtained by contacting the Corporate Secretary of the Company at 1 University Avenue, Suite 402, Toronto, Ontario, Canada, M5J 2P1, telephone (416) 360-7590.

About North American Palladium

NAP is an established precious metals producer that has been operating its Lac des Iles mine ("LDI") located in Ontario, Canada since 1993. LDI is the world's only mining operation that is a primary producer of palladium, offering investors unique exposure to palladium. The Company's shares trade on the TSX under the symbol PDL and on the OTC Pink under the symbol PALDF.

Cautionary Statement on Forward-Looking Information

Certain information contained in this news release constitutes 'forward-looking statements' or 'forward-looking information within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. The words 'target', 'plan', 'should', 'could', 'estimate', 'guidance', and similar expressions identify forward-looking statements. Forward-looking statements in this news release include, without limitation: information pertaining to the Company's filing of the Shelf Prospectus, regulatory approval of the Shelf Prospectus and any potential future offering(s) of securities pursuant to the Shelf Prospectus (and the use of proceeds therefor). Forward-looking statements involve known and unknown risk factors that may cause the actual results to be materially different from those expressed or implied by the forward -looking statements. For more details on these and other risk factors see the Company's most recent Management's Discussion and Analysis report and Annual Information Form on file with Canadian securities regulatory authorities on SEDAR at www.sedar.com under the heading "Risk Factors".

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The forward-looking statements are not guarantees of future performance. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.

North American Palladium Ltd.
Investor Relations

Source: North American Palladium Ltd.

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