Paladin Resources Ltd.

Paladin Resources Ltd.

March 16, 2007 13:22 ET

Paladin Resources Ltd.: Kayelekera Technical Report Filed Certain Summit Bid Conditions Satisfied

PERTH, WESTERN AUSTRALIA--(CCNMatthews - March 16, 2007) - Paladin Resources Ltd. ("Paladin") (TSX:PDN)(ASX:PDN) announced today that it has filed an updated technical report prepared under National Instrument 43-101 in respect of its Kayelekera Project in Malawi. The updated report confirms the reserve and resource estimates originally announced on February 23, 2007 in connection with the completion of the feasibility study for the Kayelekera Project.

Kayelekera will be the second conventional uranium mining operation to be developed outside Canada in the past 20 years. This is another important milestone for Paladin, enabling the Company to consolidate as an important supplier of uranium in the world markets.

Separately, Paladin also announced that the conditions to its takeover offers for all the fully paid ordinary shares in Summit Resources Limited (Offers), set out in section 13.8(a) (Consent to quotation) and section 13.8(b) (Lender's consent) of its bidder's statement dated 27 February 2007, have been fulfilled (so that the Offers have become free of those conditions).

A.C.N. 061 681 098

Contact Information