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Paladin Resources (PLR)

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Wednesday 12 November, 2003

Paladin Resources

Production Update

Paladin Resources PLC
12 November 2003

                             Paladin Resources plc
                                ("the Company")

In consolidating the corporate impact of proposed 2004 joint venture work
programmes and budgets, the Company has adjusted its production expectations for
2004 to a range of 45,000-50,000 boepd.

It is not anticipated that this adjustment will affect the Company's long-term
production target of 100,000 boepd by 2008, or have any material impact on the
Company's reserve position for the year ending 31 December 2003.

                                                                12 November 2003


Paladin Resources plc                                         Tel: 020 7024 4500
Cuth McDowell, Executive Director

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