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Paladin Resources (PLR)

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Friday 01 August, 2003

Paladin Resources

Production Licences Award

Paladin Resources PLC
01 August 2003

                              Paladin Resources plc

      Award of Production Licences in the UK 21st Offshore Licensing Round


Paladin Resources plc announces that its wholly owned subsidiary, Paladin Expro
Limited ("Paladin"), has been awarded three Production Licences comprising six
exploration blocks in the Central North Sea in the United Kingdom 21st Offshore
Licensing Round, the results of which were announced yesterday.

The awards to Paladin are as follows:

A 20 per cent interest in Blocks 13/22c and 13/27(part), which are situated
immediately adjacent to the Ross Field (Paladin 30.82 per cent). Paladin's
partners in these blocks are BG International (NSW) Limited (operator with 50
per cent) and Intrepid Energy North Sea Limited (30 per cent).

A 100 per cent interest in Blocks 22/12b, 22/16b, 22/24c and 22/25c, located
adjacent to the Montrose, Arbroath and Arkwright Fields (Paladin operator with
58.97%).

Roy Franklin, Chief Executive of Paladin, commented:

"We are pleased to have been awarded a number of the blocks for which we applied
in the 21st Round.

All are adjacent to existing Paladin-owned infrastructure and in that respect
consistent with a deliberate strategy of concentrating our exploration efforts
in areas which offer satellite development opportunities to existing Paladin
fields."

                                                                   1 August 2003

ENQUIRIES:

Paladin Resources plc                                       Tel: 020 7024 4500
Roy A. Franklin, Chief Executive
Paul Davison, Technical Director

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


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