TORONTO, ONTARIO, Apr 20, 2010 (MARKETWIRE via COMTEX) -- North American Palladium Ltd. ("NAP" or "the Company") (PDL)(US:PAL) is pleased to announce that it has entered into a letter of intent to acquire the Vezza gold project in the Abitibi region in Quebec from Agnico-Eagle Mines Ltd. ("AEM") for C$10 million, comprised of C$3.5 million in cash and C$6.5 million in shares. A recent resource estimate prepared by Scott Wilson Roscoe Postle Associates Inc. ("RPA") estimated that the property has 288,000 contained ounces of gold in the measured and indicated categories (see table below). The transaction is subject to the approval of the TSX and is expected to close within 30 days.