Palladium One Mining Inc. reported the discovery of a new high-grade nickel - copper zone which is located 3.5 kilometers southwest of the Smoke Lake Zone on the Tyko nickel - copper project, in Ontario, Canada. The Ember Zone was first identified by a moderate two line VTEM anomaly in 2021, reconnaissance soil sampling returned weakly anomalous nickel values up to 42 parts per million, and copper values up to 30 ppm. The weak geophysical and soil anomalies of the Ember Zone resulted in it being drill tested during Fourth Quarter 2022, Its discovery reinforces the notion that any VTEM anomaly and even weak soil anomalies can point to high grade nickel - copper mineralization on the Tyko Project.

Notably the Ember Zone is located just north of an interpreted lengthy east-west trending Chonolith /Feeder Dyke structure which is on strike with the Cupa Lake VTEM /soil anomaly. Cupa Lake represents a multi-line VTEM anomaly and a strong soil anomaly with values up to 132 ppm nickel and 512 ppm copper. Cupa Lake is a priority drill target which has an outstanding Exploration Permit application.

The geometry of the Ember Zone is not fully delineated, drilling to date was focused on defining the zone at shallow depths as the conductor's orientation was poorly defined by the airborne VTEM survey. Thus far, the zone appears to form a southwest plunging body toward the interpreted Chonolith /Feeder Dyke structure located to the South. Hole TK22-108 was drilled as a Bore Hole ElectroMagnetic geophysical platform but deviated from the interpreted plunge of the zone.

A BHEM survey is planned in Second Quarter 2023 to better define the VTEM conductor and search for potential conductors at depth. The 2022 drill program consisted of 70 holes totaling 13,038 meters, of which 14 holes are pending assay results. The 2023 field season is currently underway, with a high-resolution magnetic survey having been completed.

The survey was designed to refine the geometry of the interpreted feeder dykes /chonoliths across the Tyko Project's 30-kilometer strike length prior to additional drill testing. The 2023 exploration program will continue to focus on these newly identified and interpreted Chonolith /Feeder Dyke structures on the 30,000-hectare Tyko Project.