October 6, 2008

Paladin Energy Ltd: Angela/Pamela Exploration Licence Granted to Cameco/Paladin Joint Venture

Paladin Energy Ltd ("Paladin" or "the Company") (TSX: PDN)(ASX: PDN) is pleased to announce that Exploration Licence 25758, which contains the Angela Uranium Deposit, has been granted by the Northern Territory Government to the Cameco/Paladin 50:50 Joint Venture. Cameco Australia Pty Ltd is manager of the exploration stage of this joint venture. Cameco's announcement may be found at: www.cameco.com/media_gateway/news_releases/2008/news_release.php?id=265.

This Angela/Pamela Joint Venture further strengthens Paladin's uranium position in Australia with key projects now in Queensland (Mt Isa Projects), Northern Territory (Angela/Pamela and Bigrlyi Projects) and Western Australia (Manyingee and Oobagooma Projects). Over and above its present substantial production, Australia is destined to further expand its uranium output and become one of the cornerstone uranium suppliers of the world. Paladin is cementing its position to become a significant contributor to the anticipated growth of the uranium mining industry in Australia.

 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