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Press release from Marketwire

Paladin Energy Ltd: Kayelekera Illegal Strike-Discussions On Return To Work

Thursday, May 17, 2012

Paladin Energy Ltd: Kayelekera Illegal Strike-Discussions On Return To Work07:00 EDT Thursday, May 17, 2012PERTH, WESTERN AUSTRALIA--(Marketwire - May 17, 2012) -Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) (Paladin or the Company) advises that discussions with the Local Staff Association (LSA) and government officials on an agreed return to work by striking Malawi employees at the Kayelekera Mine continued through Wednesday, 16 May.The LSA requested additional time to consult employees based in Karonga town, some 53 kilometres from the mine. The LSA asked to meet management on Thursday morning, 17 May to facilitate a full return to work. Paladin has agreed to this request. Employees have indicated a strong willingness to return to work. Some night shift staff reported for duty last night. Paladin remains confident of an early return to full production.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 571john.borshoff@paladinenergy.com.auORPaladin Energy LtdIn Canada:Greg Taylor905 337-7673 or Mobile: 416 605-5120 (Toronto)greg.taylor@paladinenergy.com.au