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Press release from Marketwire

Paladin Energy Ltd-Statement on Japan Nuclear Situation and Conference Call Notice

Wednesday, March 16, 2011

Paladin Energy Ltd-Statement on Japan Nuclear Situation and Conference Call Notice09:22 EDT Wednesday, March 16, 2011PERTH, WESTERN AUSTRALIA--(Marketwire - March 16, 2011) -Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") expresses its deepest condolences to the people of Japan following the tragic events of Friday 11 March 2011. "We are very saddened by the catastrophic events and extreme loss of life following the dual natural disasters of an earthquake and tsunami", stated John Borshoff, Managing Director/CEO of Paladin. "We are encouraged that Fukushima plant managers are making public safety their highest priority and although the situation remains of grave concern it seems to be progressing slowly towards stabilisation of the damaged reactors".Paladin has had numerous queries regarding its business with Japan and the impact of recent events. While the Company endeavours to work with all participants in the nuclear sector and is developing a regional diversified sales portfolio, it does not currently have a commercial relationship with Japanese utilities. Paladin has a strong balance sheet with US$251.8M in cash as of 31 December 2010; is on track to produce 6Mlb to 6.3Mlb U3O8 in FY 2011; and commissioning of Langer Heinrich Mine Stage 3 expansion to 5.2Mlb U3O8 will occur in April giving the Company an installed capacity to provide 8.5Mlb U3O8 pa. Paladin continues to believe that the medium and long-term outlook for nuclear power remains positive and that recent events could further exacerbate the supply situation, ironically putting Paladin in an even better position with respect to global demand. There are more than 440 nuclear reactors operating safely around the world and growth of the fleet is assured with the 62 reactors currently under construction, with further expansion forecast from the emerging nuclear economies.Paladin will hold a conference call regarding the Japanese nuclear situation on Thursday 17 March details below.Paladin Energy LtdInvestor Conference Call and Update – March 16/17 2011Date: 17 March 2011Time: 07:00 PerthPLEASE CHECK THE WORLD CLOCK TO CONFIRM THE DATE AND START TIME FOR YOUR LOCAL TIME ZONE.Toronto: 16 March 2011, 19:00 hrs / London: 16 March 2011, 23:00 hrs / Hong Kong: 17 March 2011, 07:00 hrs LIVE - Conference Call (TSX:PDN)(ASX:PDN) Paladin Energy Ltd ("Company") announces that the Company will hold a telephone conference at 07:00 Perth and 07:00 Hong Kong on 17 March 2011 and 18:00 Toronto and 23:00 London on 16 March 2011, to give an update on the Company.Questions will be taken at the briefing's conclusion - Dial in numbers for the conference call are as follows:Australia1800 148 258Belgium0800 715 72Canada1866 837 4489China North1080 0611 0127China South1080 0361 0079France0800 908 221Germany0800 181 4827Hong Kong800 965 808India0008 00100 7048Indonesia0018 0306 12145Ireland1800 720 011Italy800 788 772Japan0044 2206 2118Johannesburg+61 2 8524 6650Malawi+61 2 8524 6650Malaysia1800 180 708Namibia+61 2 8524 6650Netherlands0800 0229 451New Zealand0800 667 018Norway800 10112Philippines1800 1612 0005Singapore800 616 2170South Korea0079 8612 1097Sweden0207 99376Switzerland0800 561 529Taiwan0080 1232 398Thailand0018 0061 21124United Kingdom0800 056 9662United States of America1866 586 2813International+61 2 8524 6650CONFERENCE ID: 52772382 (This mustbe quoted)You are encouraged to dial in approximately 5-10 minutes prior to the commencement of the briefing. ARCHIVE - Audio Webcast The briefing will be available approximately 2-4 hours after the live event on our website – 061 681 098FOR FURTHER INFORMATION PLEASE CONTACT: Paladin Energy LtdIn Australia:John BorshoffManaging Director/CEO+61 8 9381 4366 or Mobile: +61 419 912 Energy LtdIn Canada:Greg TaylorInvestor Relations Contact+905 337-7673 or Mobile: 416 605-5120 (Toronto)