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Paladin Resources (PLR)

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Tuesday 23 July, 2002

Paladin Resources

Award of Licences

Paladin Resources PLC
23 July 2002

                              Paladin Resources plc

      Award of Production Licences in the UK 20th Offshore Licensing Round

Paladin Resources plc announces that its wholly owned subsidiary, Paladin Expro
Limited ("Paladin"), has been awarded two Production Licences comprising three
exploration part-blocks in the United Kingdom 20th Offshore Licensing Round,
announced on 18 July by Energy Minister, Brian Wilson.

The awards to Paladin are as follows:

A 20 per cent interest in Blocks 15/18b and 15/19b, which are situated
immediately east of the Piper Field. Paladin's partners in these blocks are
EnCana (U.K.) Ltd. (operator with 50 per cent) and OMV (U.K.) Ltd. (30 per

A 20 per cent interest in Block 15/28c, which is situated south west of the
Britannia Field and adjacent to the recent Kappa discovery. Paladin's partners
in this block are EnCana (U.K.) Ltd. (operator with 55 per cent), Tullow
Exploration Ltd. (15 per cent) and Montrose Industries Ltd. (10 per cent).

Roy Franklin, Chief Executive of Paladin, commented:

"We are very pleased to have been awarded three out of the four blocks for which
we applied in the 20th Round. The awards reflect the quality of our applications
and the strength of our partner groups. This is another step forward in
Paladin's development as we build a meaningful exploration programme to
complement our growing production profile."

23 July 2002


Paladin Resources plc                                       Tel:   020 7534 2900
Paul Davison, Technical Director
Cuth McDowell, Finance Director

College Hill                                                Tel:   020 7457 2020
James Henderson

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