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Paladin Resources (PLR)

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Tuesday 29 April, 2003

Paladin Resources

Award of production licences

Paladin Resources PLC
29 April 2003

                              Paladin Resources plc

                   ("Paladin", "the Company" or "the Group")

         Award of Three Production Licences in the Norwegian North Sea

Paladin Resources plc announces that its wholly owned subsidiary, Paladin
Resources Norge AS  ("Paladin"), has been awarded three Production Licences
comprising four exploration blocks in the Norwegian North Sea Awards 2002, which
were announced on 28 October 2002.

The awards to Paladin are as follows:

A 30 per cent interest in Blocks 4/1 and 4/2 (PL 288) - these blocks are located
adjacent to the Norwegian- Danish median line approximately 15 to 20 km north of
the Nini Field which is currently being developed as a satellite to the Siri
Field (Paladin Oil Denmark Limited 30 per cent). Paladin's partners in these
blocks are DONG (operator with 40 per cent), and Statoil (30 per cent);

A 30 per cent interest in Block 3/7 (PL 289) - this block is also located
adjacent to the Norwegian-Danish median line. Paladin's partner in this block is
DONG (operator with 70 per cent); and

A 20 per cent interest in Block 31/4 (PL 291) - this block lies immediately to
the east of the Brage Field, in which Paladin holds a 20 per cent interest.
Paladin's partners in this block are the Brage Field partners, with Norsk Hydro
as operator (20 per cent).

There are no firm drilling commitments associated with the licence awards; in
each instance, the committed work programme involves the reprocessing and
interpretation of existing seismic data prior to a decision on whether or not to
commit to the drilling of an exploration well.

Roy Franklin, Chief Executive of Paladin Resources plc commented:

"This is another encouraging step forward in the development of Paladin's
Norwegian business. These blocks offer attractive satellite exploration
potential adjacent to producing fields with existing Paladin interests."

                                                                   29 April 2003


Paladin Resources plc
Roy A. Franklin, Chief Executive                              Tel: 020 7024 4500

College Hill
James Henderson/Phil Wilson-Brown                             Tel: 020 7457 2020

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