Paladin Resources Ltd.

Paladin Resources Ltd.

October 26, 2006 09:08 ET

Paladin Resources Ltd.: Increase in Investment in Deep Yellow Limited

PERTH, WESTERN AUSTRALIA--(CCNMatthews - Oct. 26, 2006) - Paladin Resources Ltd ("Paladin" or "the Company") (TSX:PDN)(ASX:PDN) advises that the Company has recently increased its shareholding in Deep Yellow Limited to 11.11% represented by 72,450,000 shares in that company. This follows an on market purchase and conversion of unlisted options.

Deep Yellow Limited is a dedicated uranium exploration company listed on ASX (code:DYL) operating in Australia and Namibia. Paladin sees a significant advantage in maintaining a strategic holding in this company.

A.C.N. 061 681 098

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