North American Palladium Ltd.

North American Palladium Ltd.

April 23, 2007 16:54 ET

North American Palladium Ltd.: Press Release

TORONTO, ONTARIO--(CCNMatthews - April 23, 2007) - North American Palladium Ltd. (TSX:PDL)(AMEX:PAL) today announced that it has filed on SEDAR its Reconciliation of Accounting Principals Generally Accepted in the United States in respect of the three consecutive financial years ended December 31, 2006. The reconciliation was previously filed on April 2, 2007 on EDGAR with the U.S. Securities and Exchange Commission as a part of North American Palladium's Annual Report on Form 40-F. This filing is being made at the request of the Ontario Securities Commission as a result of a routine disclosure review.

North American Palladium's Lac des Iles Mine is Canada's foremost primary producer of palladium and is among the largest open-pit/underground palladium mining operations in the world. The mine also generates substantial revenue from platinum and by-product metals including nickel, gold and copper. NAP is focused on expanding its production profile through joint ventures in Canada and the Arctic Platinum Project in Finland. Palladium's catalytic qualities are expected to play an increasing role in the automotive industry in response to growing concern for global environmental solutions, in fuel cell technology for alternative energy sources and a burgeoning jewellery market, while continuing to have widespread application in the dental, electronics and chemical sectors.

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