Palladium One Announces Exercise Of Anti-Dilution Right By Strategic Shareholder

Palladium One Mining (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) ("Palladium One" or the "Company") is pleased to announce that Glencore plc ("Glencore"), a large shareholder of the Company through its wholly-owned subsidiary, has elected to exercise its pro-rata equity participation rights and has subscribed for 7,439,071 common shares in the capital of the Company (the "Common Shares"). The Common Shares were issued at a price of $0.11 per Common Share for aggregate gross proceeds of $818,297.80 (the "Financing"). Following the Financing, Glencore holds approximately 9.99% of the Company's equity on a partially diluted basis.

Pursuant to the terms of the investor rights agreement entered into between Glencore and the Company (the "Investor Rights Agreement"), Glencore elected to exercise its pre-emptive rights to maintain its ownership interest in the Company in respect of the Company's recently completed acquisition of MetalCorp Limited.

All Common Shares issued under the Financing are subject to a four-month hold period from the closing date. No fees were paid in connection with Glencore's investment.

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