Hello,

North American Palladium invites you to recap the Companys 2011 performance through the digital edition of our annual report, now available for you to easily access online by clicking here: North American Palladiums 2011 Annual Report - Digital Edition

As we look forward to another active year, please do not hesitate to contact me if you have any questions or require more information about the Company.

Thank you for your continued interest in NAP and I look forward to staying in touch.

Cheers,
Camilla

Camilla Bartosiewicz | Director, Investor Relations and Corporate Communications
North American Palladium Ltd.

| Tel: 416-360-7374 | Cell: 416-302-2011 | Fax: 416-360-7709
Royal Bank Plaza, South Tower, 200 Bay St., Suite 2350, Toronto, ON M5J 2J2
| www.nap.com

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