First Class Metals PLC announced that Palladium One Inc. has completed the requirements of the earn in rights to gain an 80% interest in the West Pickle Lake Project(West Pickle Lake Project or the Project). A joint venture will now beinstituted with Palladium One continuing to be the operator. Palladium One had the option to earn up to an 80% undivided interest in the Project over a 3-year earn-in period by incurring aggregate CAD 325,000 as exploration expenses.

This earn-in agreement has now been completed and a Joint Venture agreement with Palladium One remaining the operator will now be instituted. Palladium One has embarked on an ambitious work programme this season and wish them continued success. The initial results which they posted are very encouraging.