Paladin Resources Ltd.

Paladin Resources Ltd.

September 16, 2005 08:42 ET

Paladin Resources Ltd.: Langer Heinrich Uranium Project, Namibia

PERTH, WESTERN AUSTRALIA--(CCNMatthews - Sept. 16, 2005) -


Paladin Resources Ltd ("Paladin") (TSX:PDN)(ASX:PDN) announces that the Namibian Minister of Mines and Energy, The Honorable Mr E Nghimtina at a ceremony held at site yesterday, September 15th, officially initiated the commencement of construction activities for the Langer Heinrich Uranium Project.

The ceremony was attended by a number of Namibian Government officials, local community representatives, as well as Namibian media.

In welcoming the Minister, Paladin Resources' Chairman, Rick Crabb, noted that Langer Heinrich will be Namibia's second uranium mine and will make Namibia the 4th largest uranium producing country in the world. For Paladin, the Project represents a significant milestone and follows a rigorous feasibility study and government approvals process. Mr Crabb acknowledged the professional manner in which Namibian government departments dealt with the Langer Heinrich Mining Licence grant and environmental consents.

The Project, based on the original feasibility study schedule, is progressing as planned, with engineering and design well advanced and on-site works now commencing.

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 primary uranium to world markets.

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