Canadian Palladium Commences Magneticotelluric Geophysical Survey at East Bull

Vancouver, May 1, 2020 - Canadian Palladium Resources Inc. (formerly 21C Metals Inc.) (CSE: BULL) (OTCQB: DCNNF) (FSE: DCR1) (the "Company") is pleased to announce that a magnetotelluric ("MT") geophysical survey has been initiated that traverses from the Grid Metals Corp. property holdings across the companies East Bull Property. This jointly funded MT survey is an electromagnetic geophysical method with excellent depth penetration and a proven ability to detect, directly or indirectly, the type of palladium mineralization (high palladium tenor disseminated sulfide) that is found on the companies East Bull Property. Interpreted results from the survey are expected within three weeks.

The company has also processed the digital data from the 2007 VTEM survey completed over the Property to define Maxwell Plate electromagnetic targets. These targets are being integrated with the drilling to date and the MT data.

This geophysical data will provide a framework for defining additional diamond drill holes within the remaining ~8000 metre of the initial drill program. The drilling will recommence when the safety issues of the geological staff and diamond drillers can guaranteed. At present the project requires access to the town and people of Massey, ON for food lodging and supplies. Once the Province relaxes some of the closure requirements of restaurants and other businesses the company is ready to recommence drilling.

The MT survey has been designed to traverse across the known mineralization in the area of diamond drill holes EB-20-01, 02 and 03. The results of the drill holes are presented in the table below.

Significant Diamond Drill Intercepts

Diamond Drill Statistics (NAD 83)

Individual demarked samples were sawn in half, bagged, sealed and transported by courier to Activation Laboratories (ISO/IEC 17025 Certified) in Ancaster Ontario. Duplicates and standards were introduced to the sample stream. Each sample was analysed using the Activation Laboratories codes RX1, 1C-OES 50 g (Au, Pt, Pd); 1F2 Total Digestion ICP. Intercept widths are core width there is insufficient 2020 drilling to determine true width.

Canadian Palladium has notified Act Labs of the samples to be analysed for Rhodium and expect results in the next 4 weeks.

Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the "Qualified Person" as defined in NI 43-101, who has reviewed and approved the technical content in this press release.

Wayne Tisdale commented, "We are looking forward to further delineate and expand upon our existing Palladium inferred resource at East Bull. By utilizing both the MT and VTEM surveys while on a drilling shutdown we will be able to further prioritize our targets and re-commence drilling once it is safe to do so."

Canadian Palladium Resources Inc.

Wayne Tisdale, President and CEO
T: (604) 639-4472

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