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North American palladium Ltd.
TSX:	PDL
AMEX:	PAL

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December 13, 2007
North American palladium Announces Closing of US$75 Million Offering
TORONTO, ONTARIO--(Marketwire - Dec. 13, 2007) - North American palladium Ltd. (TSX:PDL)(AMEX:PAL) is pleased to announce that it has closed its public offering of 18,666,667 units at a price of US$4.00 per unit (C$4.04 per unit) for total gross proceeds of approximately US$75 million. Each unit consists of one common share and one half of a common share purchase warrant of North American palladium. Each whole warrant will entitle the holder to purchase one common share at a price of US$5.05 per share at any time on or prior to December 13, 2009. The proceeds of the offering will be used to fund the growth and development of the Company's operations and, in particular, to advance the Offset High Grade Zone Project, the Shebandowan West Project and the Arctic Platinum Project. The net proceeds of the offering may also be used for general corporate purposes. The lead manager of the underwriting syndicate was Merrill Lynch & Co. Co-managers were BMO Capital Markets, HSBC Securities (Canada) Inc. and UBS Securities Canada Inc. North American palladium has granted the underwriters an option to purchase up to 2,100,000 additional units prior to January 11, 2008 to cover over-allotments. In addition, assuming the full exercise of the over-allotment option, Kaiser-Francis Oil Company will have the right to purchase an additional 700,000 units at the public offering price. A copy of the final prospectus supplement and the accompanying base shelf prospectus is available through www.sec.gov or www.sedar.com. Alternatively, you can request a copy of the final prospectus supplement and the base shelf prospectus by contacting Merrill Lynch & Co. at 4 World Financial Center, 250 Vesey Street, New York, NY 10080 (telephone: 212-449-1000) or 181 Bay Street, Suite 400, Toronto, Ontario M5J 2V8 (telephone: 416-369-7400). About North American palladium North American palladium is Canada's foremost primary producer of palladium. The Company's core palladium business at the Lac des Iles mine is strengthened by a significant contribution from nickel, platinum, gold and copper by-product metals. Statements in this press release relating to the anticipated use of proceeds are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and the securities legislation of certain of the provinces of Canada, including the Securities Act (Ontario). Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those reflected in the forward-looking statements, including risks related to the exploration stage of the Company's advanced exploration projects; market fluctuations in prices for securities of companies that operate in the resource sector; uncertainties about the availability of additional financing; uncertainties related to fluctuations in metal prices; the possibility that the Company may change its plans with respect to one or more properties; and other risks and uncertainties described in the Company's prospectus supplement and accompanying base shelf prospectus and the documents incorporated by reference therein. Although the Company believes the expectations reflected in its forward-looking statements are reasonable, results may vary, and the Company cannot guarantee future results, levels of activity, performance or achievements.

CONTACT INFORMATION:

North American palladium Ltd.
Jim Excell
President and CEO
(416) 360-7971 Ext. 223
Email: jexcell@napalladium.com

or

North American palladium Ltd.
Fraser Sinclair
Vice President, Finance and CFO
(416) 360-7971 Ext. 222
Email: fsinclair@napalladium.com

or

North American palladium Ltd.
Director, Investor Relations
(416) 360-7971 Ext. 226
Email: larmstrong@napalladium.com

INDUSTRY: Manufacturing and Production - Mining and Metals

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North American Palladium Ltd

	PRODUCER
	CODE : PDL.TO
	ISIN : CA6569121024
	CUSIP : 656912102

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North American Palladium is a palladium producing company based in Canada.

North American Palladium produces palladium, copper, gold, nickel and platinum in Canada, develops copper, gold, palladium and platinum in Finland, and holds various exploration projects in Canada.

Its main assets in production are LAC DES ILES and SLEEPING GIANT PROPERTY in Canada, its main asset in development is ARCTIC (SUHANKO) in Finland and its main exploration properties are TIB LAKE, DISCOVERY PROJECT, SHEBANDOWAN - BAND-ORE and ROARING RIVER in Canada.

North American Palladium is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.1 billions as of today (US$ 871.6 millions, € 781.9 millions).

Its stock quote reached its highest recent level on June 01, 2012 at CA$ 996.00, and its lowest recent point on December 26, 2014 at CA$ 0.16.

North American Palladium has 58 130 000 shares outstanding.

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North American Palladium Ltd

Announces Closing of US$75 Million Offering

North American Palladium Ltd