Paladin Resources Ltd.
TSX : PDN
ASX : PDN

Paladin Resources Ltd.

September 19, 2005 08:38 ET

Paladin Resources: Secondary Trading Notice

PERTH, WESTERN AUSTRALIA--(CCNMatthews - Sept. 19, 2005) -

Not for distribution to United States newswire services or for dissemination in the United States.

ISSUE OF FULLY PAID SHARES - SECONDARY TRADING NOTICE

Notification Pursuant To Paragraph 708a(5)(E) of the Corporations Act 2001 ("Act")(Australia)

Paladin Resources Ltd ("Paladin") (TSX:PDN)(ASX:PDN) announces:

On 6 July 2005, the Company announced the proposed issue of 4,350,000 fully paid ordinary shares at AUD$1.235 cents per share in respect of the acquisition of the remaining 10% interest in the Kayelekera Uranium Project Mine. These shares were allotted today.

Secondary Trading Exemption

The Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A. A sale of the shares noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

(a) the Company issued the shares without disclosure to investors under Part 6D.2 of the Act;

(b) as at 19 September 2005 the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

(c) as at 19 September 2005 there is no information:

1. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

2. that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

A. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

B. the rights and liabilities attaching to the shares.

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.

Contact Information