The event, which is scheduled for Dec. 15 in Australia, is still without a proper venue, but should have one soon according to White.
Lombard (31-3) made his UFC debut in July at UFC 149 where the 34-year old Olympic Judoka had his astounding 24-fight winning streak snapped via split decision against Tim Boetsch. The highly regarded Cuban has also dropped decisions to Gegard Mousasi and Akihiro Gono.
Palhares (14-4) is also coming off a loss in his last contest. The jiu-jitsu powerhouse was dispatched of via first-round knockout at the hands of Alan Belcher at a UFC on Fox event back in May, snapping his own 3-fight winning streak.
The fight is the first to be reported for the, as yet, officially unannounced event.
FX will air the main card live in North America on Dec. 14.