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Paladin Exercises Options in Deep Yellow Limited

July 30, 2008

Paladin Energy Ltd (“Paladin” or “the Company”) (TSX: PDN)(ASX: PDN) advises that the Company has today exercised 12.5 million unlisted options in Deep Yellow Limited (ASX: DYL) bringing its total holding to 171,558,461 fully paid shares representing 15.3% of the issued capital of DYL.

A.C.N. 061 681 098

 Contacts: Paladin Energy Ltd John Borshoff Managing Director +61-8-9381-4366 or Mobile: +61-419-912-571  Paladin Energy Ltd Greg Taylor Investor Relations Contact (905) 337-7673 or Mobile (416) 605-5120 (Toronto) Email: greg.taylor@paladinenergy.com.au Website: www.paladinenergy.com.au

SOURCE: Paladin Energy Ltd




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