July 30, 2008

Paladin Exercises Options in Deep Yellow Limited

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: [email protected] Website: www.paladinenergy.com.au
SOURCE: Paladin Energy Ltd