Paladin Energy Ltd: Operations Update

PERTH, WESTERN AUSTRALIA--(Marketwired - July 02, 2015) - Paladin Energy Ltd. (TSX: PDN) (ASX: PDN) ("Paladin" or the "Company") wishes to provide a preliminary update on some key achievements for the quarter just ended:

• Operations are progressing as planned with FY15 production expected to finish between 5.0Mlb U₃O₈ and 5.1Mlb U₃O₈, which is within the stated guidance.

• Revenue improved significantly for the June 2015 quarter at US$73.5M reflecting a sales volume of 1.766Mlb U₃O₈ achieving an average selling price of US$41.6/lb U₃O₈ (average spot price for quarter was $36.65/lb).

• Cash and cash equivalents at year end of approximately US$180M.

Paladin also advises that production optimisation remains a clear priority with further cost reductions an ongoing focus across the overall business.

ACN 061 681 098

Contact

For additional information, please contact:

John Borshoff
Managing Director/CEO
Tel: +61-8-9381-4366 or
Mobile: +61-419-912-571
Email: john.borshoff@paladinenergy.com.au

Greg Taylor
Investor Relations Contact
Tel: +1 905 337-7673 or
Mobile: +1 416-605-5120 (Toronto)
Email: greg.taylor@paladinenergy.com.au