Paladin Energy Ltd: Operations Update

PERTH, WESTERN AUSTRALIA--(Marketwired - July 02, 2015) - Paladin Energy Ltd (TSX: PDN) (ASX: PDN) ("Paladin" or the "Company") wishes to provide a preliminary update on some key achievements for the quarter just ended:

• Operations are progressing as planned with FY15 production expected to finish between 5.0Mlb U₃O₈ and 5.1Mlb U₃O₈, which is within the stated guidance.

• Revenue improved significantly for the June 2015 quarter at US$73.5M reflecting a sales volume of 1.766Mlb U₃O₈ achieving an average selling price of US$41.6/lb U₃O₈ (average spot price for quarter was $36.65/lb).

• Cash and cash equivalents at year end of approximately US$180M.

Paladin also advises that production optimisation remains a clear priority with further cost reductions an ongoing focus across the overall business.

ACN 061 681 098