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Paladin Resources (PLR)

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Tuesday 23 April, 2002

Paladin Resources

Re: Goldeneye

Paladin Resources PLC
23 April 2002

                             PALADIN RESOURCES plc
                          ("Paladin" or the "Company")

Acquisition of Additional Stake in Goldeneye Field Completed

Further to the announcement of 13th March 2002, Paladin has completed the £11.6
million acquisition of a further 22.5 per cent interest in UKCS Block 20/4b,
increasing the Company's overall stake in the block to 37.5 per cent and its
interest in the Goldeneye Field, as a result, from 3 per cent to 7.5 per cent.

                                                           23 April 2002


Paladin Resources plc                                Tel: 020 7534 2900
Roy A Franklin, Chief Executive
Cuth McDowell, Finance Director

College Hill                                         Tel: 020 7457 2020
James Henderson / Peter Rigby

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