SOURCE: Paladin Energy Ltd

Paladin Energy Ltd

February 10, 2015 07:30 ET

Paladin Energy Ltd: Kayelekera - No Environmental Impact From Tank Rupture

PERTH, WESTERN AUSTRALIA--(Marketwired - February 10, 2015) - Paladin Energy Ltd (TSX: PDN) (ASX: PDN) ("Paladin" or the "Company") notes that, on January 7, 2015, the Company reported that a plant run-off water tank at Kayelekera Mine was damaged during a storm event on January 5, 2015, releasing up to 500m3 of material into the bunded areas of the site and that a small amount may have overtopped one of the containment bunds. Remediation was undertaken during the following five days.

As reported at the time, Paladin undertook sampling at the site of the storm-damaged tank and surface water upstream and downstream of where any possible incursion might have occurred. Malawi's Water Resources Department also sampled at these sites to get independent verification. Results of chemical analysis by Paladin's on-site laboratory showed that no contamination had occurred. 

The Company also obtained confirmation through analysis of duplicate water samples undertaken by an accredited, global and independent laboratory services group. The independent results confirmed the results obtained by Paladin from its own laboratory and those collected by the Malawi authorities. 

All results demonstrated that no measurable contamination had occurred as a consequence of the event. These results have been forwarded to Malawi's Environmental Affairs Department for their files.

ACN 061 681 098

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