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Press release from Marketwire

Paladin Energy Ltd: Kayelekera Resumes Full Production

Friday, May 18, 2012

Paladin Energy Ltd: Kayelekera Resumes Full Production07:00 EDT Friday, May 18, 2012PERTH, WESTERN AUSTRALIA--(Marketwire - May 18, 2012) -Paladin Energy Ltd (TSX:PDN)(ASX:PDN) (Paladin or the Company) is pleased to advise that, as foreshadowed, its Kayelekera Mine resumed 100% operational status as Malawian employees ended industrial action allowing the Thursday night shift to start fully manned. The Company and Local Staff Association (LSA) signed a binding agreement to end the strike yesterday afternoon, facilitating a full return to work by all employees. Under the terms of the agreement, employees have dropped demands for the 66% salary increase to compensate for the 50% devaluation of the Kwacha. Paladin in turn has agreed to review the local salaries within 6 months determined by the CPI at that time and as affected by the devaluation of the Kwacha.ACN 061 681 098FOR FURTHER INFORMATION PLEASE CONTACT: Paladin Energy LtdIn Australia:John Borshoff, Managing Director/CEO+61 8 9381 4366 or Mobile: +61 419 912 571john.borshoff@paladinenergy.com.auORPaladin Energy LtdIn Canada:Greg Taylor, Investor Relations Contact905 337-7673 or Mobile: 416 605-5120 (Toronto)greg.taylor@paladinenergy.com.auwww.paladinenergy.com.au