Paladin Resources Ltd.

Paladin Resources Ltd.

March 08, 2007 06:35 ET

Paladin Resources Ltd.: Tragic Light Aircraft Accident in Malawi

PERTH, WESTERN AUSTRALIA--(CCNMatthews - March 8, 2007) - Paladin Resources Ltd (TSX:PDN)(ASX:PDN) - It is with great sadness that the Company advises that Garnet Halliday, the Executive General Manager for Operations and Development, has been killed in a light aircraft accident near Lilongwe, in Malawi, this morning (Malawi time).

Garnet, aged 50, was born in Adelaide and has been with the Company since 2004.
Garnet was a dear friend to all of us and his death is a great personal loss. Also killed in the tragic accident was the South African pilot Frank van-Veuren, the principal of Executive Air Charter. There were no other persons on the aircraft.

Paladin will seek an open and thorough investigation and until the full facts concerning the crash are known, it is inappropriate to make further comment.

Garnet played a pivotal role in the successful development and start-up of the Langer Heinrich mine in Namibia and was leading the Company's strong development team in preparing for the construction of the Kayelekera mine in Malawi.

On behalf of all Directors and staff of the company, I extend our deepest sympathy to Garnet's wife, Deborah and his family.

A.C.N. 061 681 098

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