Cadiscor Resources Inc.
TSX VENTURE : CAO
FRANKFURT : DQN

Cadiscor Resources Inc.

April 27, 2009 11:56 ET

Cadiscor Receives Court Approval to Hold its Special Shareholder Meeting

MONTREAL, QUEBEC--(Marketwire - April 27, 2009) - Cadiscor Resources Inc. ("Cadiscor") (TSX VENTURE:CAO)(FRANKFURT:DQN) is pleased to announce that the Superior Court of Quebec has approved Cadiscor's petition to hold its Special Meeting on May 22, 2009 to consider a plan of arrangement between Cadiscor Resources Inc. ("Cadiscor") and North American Palladium Ltd ("NAP"). Accordingly, the Management Information Circular will be mailed today to all Cadiscor shareholders registered as of April 20, 2009, the record date and will be available on our Website: www.cadiscor.com.

The Cadiscor Board approved the arrangement to exchange 0.33 common share of NAP for each issued and outstanding common share of Cadiscor. This transaction gives Cadiscor shareholders an attractive 47% premium for their shares, as of the day of the announcement and significant upside to future increases in the price of palladium and gold. The Board unanimously recommends that Cadiscor shareholders approve the arrangement by voting in favour of the arrangement at the Special Meeting on May 22, 2009.

NAP is a precious metals company that owns one of North America's largest palladium mines, historically producing approximately 4% of global palladium supply. The mine located in Thunder Bay has a large resource of over 3.7 million ounces of palladium. NAP has mining personnel with significant experience in developing and operating underground mines, and a highly liquid stock, all of which would benefit Cadiscor shareholders. NAP also has a strong balance sheet.

On March 31, 2009, NAP advanced $7.5 million to Cadiscor as part of the agreement, in the form of two, 18-month Notes. Since securing this financing, Cadiscor has been hiring personnel at the Sleeping Giant Mine, and has begun development at the Mine to restart gold production, planned for the fourth quarter of 2009.

Forward-Looking Statements

This press release contains forward-looking statements subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct, and actual results and future events could differ materially from those implied by such statements. These risks and uncertainties are discussed in the annual report filed with the securities commissions of Alberta, British Columbia, Ontario and Quebec.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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