Paladin Energy Ltd: Completion Tests Satisfied at Langer Heinrich & Kayelekera Mines

Paladin Energy Ltd ("Paladin" or "the Company") (TSX:PDN)(ASX:PDN) is pleased to
announce the satisfaction of the Completion Tests (CT) under both the Langer
Heinrich Mine ("LHM") project finance facility and the Kayelekera Mine ("KM")
project finance facility. The KM CT approval is conditional upon a minor
amendment to an existing agreement and financial model which Paladin has
accepted, with formal documentation anticipated by no later than 28 February
2013. 


The CT for both project finance agreements requires a set of production tests to
be satisfied over a 90 CT Period. Both mines have now completed these test
periods with the Lenders' Independent Technical Consultants verifying the
results.


As a result of passing the CT and in accordance with the facility agreements, a
range of reporting requirements will fall away together with a number of
financial undertakings which previously applied to Paladin, providing greater
commercial flexibility at a corporate level. There is also now greater
flexibility with regards to voluntary prepayments and distributions under both
facility agreements. The margin over Libor for the Commercial Bank Facility
portion of the KM facility will reduce by 0.50% (3.00% to 2.50%) whilst the
margin over Libor for the LHM facility will reduce by 0.50% (3.75% to 3.25%).


The Lenders' satisfaction of the production test parameters at each site, based
on the Independent Technical Consultant's verification, further supports the
consistent operating performance at both mines. Langer Heinrich has been
operating at or above nameplate production and Kayelekera has been operating at
or near nameplate for over three quarters. Paladin is pleased with the Lenders'
independent verification of the operating achievements at both sites. 


ACN 061 681 098

FOR FURTHER INFORMATION PLEASE CONTACT: 
Paladin Energy Ltd
John Borshoff
Managing Director/CEO
[phone] or Mobile: [phone]
[e-mail]


Investor Relations Contact
Paladin Energy Ltd
Greg Taylor
[phone] or Mobile: [phone] (Toronto)
[e-mail]
www.paladinenergy.com.au