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Paladin Resources (PLR)

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Friday 07 June, 2002

Paladin Resources


Paladin Resources PLC
7 June 2002

                             PALADIN RESOURCES plc

                          ("Paladin" or the "Company")

Acquisition of Oil and Gas Assets from the Norwegian State Completed

Further to the announcement of 19th March 2002, and to subsequent announcements,
Paladin has completed the £26 million acquisition of a further 7.5 per cent
stake in the Njord Field, increasing its overall stake in the field to 15.0 per
cent, and a 20 per cent stake in the Brage Field from the Norwegian State.

                                                                     7 June 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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