5 Global Dis trib ution of Major P GM Cu N i P rojects L ac d e s Il e s Global Palladium Projec ts W W W G R IDM E TA L S C O R P C O M TSX V G R D M F R A NKF U R T NJ F 1 5 Global Pd r e so u r c e s a r e sign ific an t and c onc e n tr a t e d in R uss ia an d So u th Af ric a A clear n e ed e xi s t s f or n e w sup p ly in lo w ris k ju ris d ic tions Pd o r e gr ad e s ar e ty p ic ally 1 to 5 gr am s p e r t onn e V er y f e w p r oj ec ts ar e p rimar y pall adi um p la y s wi th a t t ac tiv e gr ad e m e t allur gy lo c a tion etc Grid Me tals ow n s one of th es e r ar e p rimar y p alla d iu m e xplor a tion s t ag e p r ojec ts E as t Bull L ak e O n t ario Grid is t ar g et in g h i gh v al u e b ulk t on n ag e an d or u n d er gr oun d d ep os it wi th g oo d me t allur gy