Cadiscor' Shareholders Vote in Favor of the Business Combination With North American Palladium

Cadiscor Resources Inc. ("Cadiscor") (TSX VENTURE:CAO)(FRANKFURT:DQN) is pleased
to announce that at a special meeting of shareholders held today, 100% of all
represented shares (31,070,459) voted unanimously in favor of the business
combination with North American Palladium Ltd ("NAP") (TSX:PDL)(NYSE Amex:PAL).


Pursuant to a plan of arrangement, Cadiscor will become a wholly-owned
subsidiary of NAP and all of the issued and outstanding common shares of
Cadiscor will be transferred to NAP in consideration for the issuance by NAP of
0.33 common shares of NAP for each Cadiscor share.  All of the outstanding stock
options, warrants and debenture of Cadiscor will become stock options, warrants
and debenture of NAP using the same exchange ratio of 0.33.


Cadiscor will apply to the Quebec Superior Court on Monday May 25, 2009 for a
final order approving the plan of arrangement.  The closing of the business
combination is scheduled for May 26, 2009.  Upon closing, the trading of
Cadiscor on the TSX Venture will be halted and the shares of Cadiscor will be
later delisted from the TSX Venture.


NAP is a precious metals company that owns one of North America's largest
palladium mines, historically producing approximately 4% of global palladium
supply. The mine located in Thunder Bay has a large measured and indicated
resources of 36 million tonnes grading 3.18 grams of palladium per tonne, for a
total of 3.7 million ounces of palladium in situ.  NAP has mining personnel with
significant experience in developing and operating underground mines, and a
highly liquid stock, all of which would benefit Cadiscor shareholders. NAP also
has a strong balance sheet.


On March 31, 2009, NAP advanced $7.5 million to Cadiscor as part of the
agreement, in the form of two, 18-month Notes.  Since securing this financing,
Cadiscor has been hiring personnel at the Sleeping Giant Mine, and has begun
development at the Mine to restart gold production, planned for the fourth
quarter of 2009.


Forward-Looking Statements

This press release contains forward-looking statements subject to certain risks
and uncertainties. There can be no assurance that these statements will prove to
be correct, and actual results and future events could differ materially from
those implied by such statements. These risks and uncertainties are discussed in
the annual report filed with the securities commissions of Alberta, British
Columbia, Ontario and Quebec.

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