Paladin Resources Ltd.

Paladin Resources Ltd.

April 27, 2007 07:58 ET

Paladin Resources: Takeover Bid for Summit Resources Automatic Extension of Offer Period to 11 May 2007

PERTH, WESTERN AUSTRALIA--(CCNMatthews - April 27, 2007) - Paladin Resources Ltd. ("Paladin")(TSX:PDN)(ASX:PDN) announces that its takeover bid for all the fully paid ordinary shares in Summit Resources Limited (Summit) has been automatically extended by 14 days as a result of Paladin's voting power in Summit increasing to more than 50%.

The offer is now scheduled to close at 5:00pm (Perth, Western Australia time) on 11 May 2007 (unless further extended).

Paladin has filed a letter to Summit shareholders and formal notice of automatic extension required by section 624(2) of the Corporations Act 2001 (Cth).

For the purposes of ASX Listing Rule 3.2, Paladin gives notice that:

- it had a relevant interest in nil Summit shares when the first of the offers was made; and,

- it had a relevant interest in 59.45% of Summit's shares as at the date of the extension of the offer period.

A.C.N. 061 681 098

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