Palladium One Mining - Promising Results from Tyko II Nickel-Copper Project in Ontario

About Palladium One Mining

Palladium One Mining Inc. (TSXV: PDM) is a Canadian mineral exploration and development company focused on discovering and developing critical metals deposits, including nickel, copper, platinum group metals (PGMs), and cobalt. The company aims to supply the metals needed for the transition to a green economy and climate change mitigation.

Palladium One is advancing district-scale assets in Finland and Canada. The flagship project is the Läntinen Koillismaa (LK) PGE-copper-nickel project in Finland, which hosts existing mineral resources. Other key assets include the Tyko and Canalask nickel-copper projects in Ontario and Yukon, Canada. The company is led by a strong technical team with extensive experience exploring for battery metals deposits.

Palladium One is positioning itself to benefit from the rising demand for metals like nickel and copper for electric vehicle batteries. Its assets provide exposure to these critical metals while diversifying across multiple projects.

Promising Drill Targets Identified at Tyko Nickel-Copper Project

Palladium One recently announced results from an airborne electromagnetic (EM) survey at its Tyko II property in Ontario, Canada. The property forms part of the larger Tyko Nickel-Copper Project.

The versatile time domain EM (VTEMmax) survey identified seven new multi-line EM anomalies that represent compelling drill targets. The anomalies are located near historical nickel-copper showings, highlighting the prospectivity of the Faries-Moshkinabi mafic-ultramafic complex that hosts mineralization.

Key highlights from the Tyko II EM survey:

• A 900m anomaly that appears to be the northern extension of the Moshkinabi-Kejimalda zone, which returned up to 1.17% copper, 0.73% nickel, 2.4 g/t palladium, and 0.2 g/t platinum in grab samples. This anomaly was undetected by historical surveys due to powerlines.
• A 700m anomaly east of the Gionet zone, where grab samples yielded up to 2.46% copper and 0.22% nickel.
• Several other single-line EM anomalies requiring follow-up.

The results demonstrate the effectiveness of modern VTEMmax technology in identifying new targets. Palladium One believes the anomalies likely indicate extensions of known mineralized zones that have seen only shallow historical drilling.

The company is carrying out ground-truthing with soil sampling and existing permits allow drill testing of five anomalies beginning in mid-October 2023.

Significant Potential to Find Magmatic Ni-Cu-PGE and VMS Deposits

The geological setting at Tyko II provides opportunities to make two types of discoveries:

1. Magmatic nickel-copper-PGE deposits associated with mafic-ultramafic intrusions like the Eagle's Nest deposit in the Ring of Fire region. The multiple Cu-Ni-PGE showings linked to the Faries-Moshkinabi complex are encouraging signs.
2. Volcanogenic massive sulphide (VMS) copper-zinc deposits similar to the past-producing Geco mine located 15km from Tyko II. The property contains altered volcanic rocks prospective for VMS mineralization.

The latest results validate Palladium One's view that the Tyko district offers large-scale potential for new nickel and copper discoveries. The company is methodically exploring the vast 30,000-hectare land package using modern geophysical techniques followed up by drilling.

With Nickel in Major Deficit, Tyko Could Help Fill Supply Gap

The results from Tyko II come as the nickel market faces a growing supply deficit driven by stainless steel demand and the battery metals boom. Nickel prices have rallied over 60% in 2023 on strong demand from the electric vehicle (EV) industry.

Wood Mackenzie forecasts a nickel supply deficit of 674,000 tonnes by 2030 due to rising EV uptake. The deficit for Class I high-purity nickel required for batteries could hit 1.5 million tonnes. With few new projects in the pipeline, prices are expected to remain well-supported.

This backdrop highlights the potential for high-grade nickel discoveries like Tyko to fill the looming supply gap. Palladium One is well-positioned with district scale projects in mining-friendly Canadian jurisdictions.

Advancing the Flagship LK PGE-Nickel-Copper Project in Finland

While the Ontario projects offer nickel and copper exposure, Palladium One's flagship asset is the LK PGE-nickel-copper project in Finland. LK hosts an existing resource of 2 million tonnes at 1.97 g/t palladium equivalent for ~122,000 PGE-copper-nickel ounces.

Exploration is ongoing to expand resources, with a 12,000-meter drill program underway focused on generating additional tonnage. Results so far have been encouraging, with recent highlights intercepts of 35.2m at 2.5 g/t PGE at the Kaukua South Zone.

Palladium One plans to release an updated NI43-101 resource for LK in 2024. The company believes the project can ultimately produce 50,000 PGE-copper-nickel ounces per year.

With rising palladium demand from the auto sector, LK provides exposure to in-demand PGMs along with battery metals. Finland is also a top mining jurisdiction with excellent infrastructure.

Strong Cash Position to Advance Projects

Importantly, Palladium One entered 2023 with a robust cash balance of ~C$11 million. This provides a 2-year runway to aggressively advance LK, Tyko and other assets without needing to raise additional capital soon. The company has no debt.

The healthy treasury comes after several successful financings in 2022 amid rising investor interest. Funds raised have accelerated exploration activities across Palladium One's portfolio.

Conclusion: Well Positioned to Supply Green Economy Metals

Palladium One Mining provides exposure to key metals needed for decarbonization such as nickel, copper, PGMs, and cobalt. With assets located in mining-friendly Canada and Finland, the company ticks important boxes for ESG-focused investors.

The latest results from Tyko highlight the potential of the under-explored district to yield new nickel and copper discoveries. This complements the flagship LK project and its resources of palladium, nickel and copper.

With drilling ongoing across several projects and funded by a strong balance sheet, Palladium One is primed for new discoveries. The company looks poised to create value for shareholders by supplying the metals critical for the green energy transition.