Paladin Resources Ltd.

Paladin Resources Ltd.

March 24, 2006 08:00 ET

Paladin Resources Ltd.: Further Uranium Sales Contract Secured For Langer Heinrich

PERTH, WESTERN AUSTRALIA--(CCNMatthews - March 24, 2006) - Paladin Resources Ltd. ("Paladin" or "the Company") (TSX:PDN)(ASX:PDN) has secured its third sales contract (see Paladin announcement of January 27, 2006) via a Letter of Intent for a portion of its yellowcake (U3O8) production from the Langer Heinrich Uranium Mining Operation, scheduled for commissioning in September 2006. This sales arrangement with a US utility is subject to finalisation of all necessary legal documentation.

The sales contract is for the purchase of over 2.5 million pounds U3O8 for delivery between 2007 and 2012. Pricing will be market related to be determined at time of each delivery with escalating floor and ceiling price components.

Paladin's marketing team has confirmed that strong interest remains for additional yellowcake product and that nuclear power utilities in general are becoming even more aware that new supplies are now essential if supply shortages are to be averted in the mid to long term.

Paladin Resources Ltd. is an Australian uranium exploration and development company listed on the Australian Stock Exchange ("PDN") and the Toronto Stock Exchange ("PDN"). Paladin is involved in the mineral resource sector with projects both in Australia and Africa. With the Langer Heinrich Uranium Project in Namibia currently under construction, the Kayelekera Project in Malawi undergoing a Bankable Feasibility Study, Paladin is well placed to become a major supplier of primmary uranium to world markets.

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