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Paladin Energy Ltd: Shareholder Approval Not Required Regarding Suspension of Production at Kayelekera Mine, Malawi

February 20, 2014

PERTH, WESTERN AUSTRALIA--(Marketwired - Feb. 20, 2014) - Paladin Energy Ltd (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") notes that, as announced on February 7, 2014, Paladin (Africa) Limited (PAL), a subsidiary of Paladin Energy Ltd (Paladin), is suspending production at its Kayelekera Mine (KM or the Operation) in Malawi and will place the Operation on care and maintenance until PAL determines that a recovery in the price of uranium oxide would enable production to resume on a profitable basis.

Paladin has since applied to the ASX for a determination regarding the application of Chapter 11 of the Listing Rules. The ASX has confirmed that Listing Rules 11.1 and 11.2 do not apply and, accordingly, shareholder approval is not required in relation to the suspension of production at KM.

ACN 061 681 098

FOR FURTHER INFORMATION PLEASE CONTACT: Paladin Energy LtdJohn Borshoff Managing Director/CEO +61-8-9381-4366 or Mobile: +61-419-912-571 Energy LtdGreg Taylor Investor Relations Contact +1 905 337-7673 Mobile: +1 416-605-5120 (Toronto) Source: Paladin Energy Ltd

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Source: Marketwire (Canada)

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