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Press release from Marketwire

Paladin Energy: Malawi NGO's Call Off Kayelekera Protest

Monday, November 12, 2012

Paladin Energy: Malawi NGO's Call Off Kayelekera Protest08:30 EST Monday, November 12, 2012PERTH, WESTERN AUSTRALIA--(Marketwire - Nov. 12, 2012) -Paladin Energy Ltd ("Paladin" or "the Company") (TSX:PDN)(ASX:PDN) is pleased to advise that the demonstration proposed this week near the Company's Kayelekera Mine ("KM") in Malawi which has been widely reported has been cancelled by the organisers.Paladin reported on 01 November 2012 that two local non-government organisations, "Karonga Youth for Justice and Development" (KYJD) and "Karonga Business Community," had announced their intention to hold a demonstration near Kayelekera during 14-17 November over allegations made by the Chairman of "Karonga Business Community", Mr Wavisanga Silungwe, that Paladin had failed to honour its Social Development commitments to the community. Mr Silungwe repeatedly has made various unsubstantiated allegations against the Company, which Paladin has refuted.The KYJD has informed Paladin that, following a meeting of community groups in Karonga held on Sunday, 11 November 2012, the decision was taken to cancel this week's proposed demonstration. In a written statement, KYJD said that following meetings with the Principal Secretary for the Ministry of Energy and Mining, and meetings with senior representatives of Paladin, the KYJD have understood that they were misinformed and that the claims were not a true reflection of what Paladin had agreed to carry out for the people of Karonga. The KYJD have undertaken as soon as possible to disseminate information to the community through newspapers, radio and other means available in order to make people aware that the intended demonstrations will not be conducted.Other community groups have also informed Paladin that they will not participate in protest action against the Company. Paladin's Managing Director/CEO, Mr John Borshoff, said that Paladin had met with representatives of Karonga community groups and provided information in relation to the various claims by Mr Silungwe. He said that, while the Company did not think the planned protest would have had any material effect on KM operations, Paladin was nevertheless very pleased at the response by community groups in calling off the demonstration when they realised that they had been misinformed and misled. "It is unfortunate this this should have occurred in the first place, but local organisations involved have reacted graciously and responsibly and I thank them for that," Mr Borshoff said. Paladin has been informed that Mr Silungwe has been banned from speaking on behalf of other Karonga organisations in the future.ACN 061 681 098 FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Paladin Energy LtdJohn BorshoffManaging Director/CEO+61-8-9381-4366 or Mobile: +61-419-912-571john.borshoff@paladinenergy.com.auPaladin Energy LtdAlan RuleChief Financial Officer+61-8-9381-4366 or Mobile: +61-438-942-144alan.rule@paladinenergy.com.auPaladin Energy LtdGreg TaylorInvestor Relations Contact+1 905 337-7673 or Mobile: +1 416-605-5120 (Toronto)greg.taylor@paladinenergy.com.auPaladin Energy LtdMatthew KeaneInvestor Relations Contact+61-8-9381-4366 or Mobile: +61-407-682-974matthew.keane@paladinenergy.com.auwww.paladinenergy.com.au