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Press release from Marketwire

Paladin Energy Ltd-Mid Quarter Operations & Market Update

Monday, November 14, 2011

Paladin Energy Ltd-Mid Quarter Operations & Market Update06:45 EST Monday, November 14, 2011PERTH, WESTERN AUSTRALIA--(Marketwire - Nov. 14, 2011) -Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") provides an update on the status of its operations post September quarter as follows:Langer Heinrich MinePost quarter Stage 3 ramp-up continues to track well with production at 90% of design capacity for period 1 October to 13 November.Construction of Stage 3 expansion is almost complete, with the remaining NIMCIX modules nearing completion. Various Stage 3 modules are in operation and either in ramp-up or advanced stages of commissioning. The plant is operating at improved efficiencies benefiting from the new equipment that has come on line.Kayelekera MineRemediation work has been completed and acid production began 7 October. Uranium production recommenced on 14 October with interim drying at LHM.Bankers' completion test commenced on 1 November 2011. Production to date is in line with the target of achieving 90% of design capacity.Relocated drying and packaging plant came back on line 12 November.The early benefits of both the Stage 3 expansion at Langer Heinrich Mine and the operational improvements/rectification work at Kayelekera Mine are all now having a positive impact both on production and plant efficiencies.Uranium Spot PriceOn Friday 11 November, TradeTech advised that the uranium spot price rose by US$4/lb to US$56.25/lb as a result of strong demand with a total of 13 transactions involving 1.8Mlb U3O8equivalent traded over the course of the week.ACN 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)