scoping study confirms 1 dollar per share, page-8

PALADIN RESOURCES LTD
A.C.N. 061 681 098
245 CHURCHILL AVE, SUBIACO WESTERN AUSTRALIA 6008
PO BOX 201, SUBIACO WESTERN AUSTRALIA 6904
TELEPHONE: (+61 8) 9381 4366 FAX: (+61 8) 9381 4978
EMAIL: [email protected]
Web: www.paladinresources.com.au
Ref:F55447
8 September 2004
The Company Announcements Officer
Australian Stock Exchange Limited
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam
Kayelekera Uranium Project
Economic Study Update
Yesterday Paladin advised the results of its updated Pre-Feasibility Study economic model for the Kayelekera Uranium Project.
The NPV reported indicated 100% of the project equity in Kayelekera. It should be noted Paladin’s interest in this project is 90%.
On this basis at US$20/lb U3O8 the combined NPV(10%) of the Langer Heinrich and Kayelekera Uranium Projects stands at US$138M (AUD197M) and not the US$144 (AUD205M) as previously reported.
Yours faithfully
Paladin Resources Ltd
JOHN BORSHOFF
Managing Director