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Paladin Resources (PLR)

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Monday 26 July, 2004

Paladin Resources

New Corporate Credit Facility

Paladin Resources PLC
26 July 2004

                             Paladin Resources plc

                          ("Paladin" or "the Company")

                  New US$600 Million Corporate Credit Facility

Paladin announces that it has signed a US$600 million five year Senior Secured
Revolving Credit Facility with a syndicate of sixteen major international oil
and gas lending banks led by J.P.Morgan plc.

Given the Company's recent and projected future growth, the market was initially
approached for a US$500 million facility, which was increased to US$600 million
following a strong reception to the transaction in the banking market. The
facility will be used for general corporate purposes, including the funding of
the Company's active capital investment programme to enhance production from its
existing assets, the financing of future acquisitions, and the refinancing of
existing indebtedness.

Roy Franklin, Chief Executive of Paladin, commented:

"Paladin is entering into a new phase of organic growth through active
investment in our recently acquired assets.  This new facility puts the Company
in excellent shape to fund that investment programme and provide headroom for
further acquisitions. I am delighted with the level of support shown by all of
the banks in our enlarged syndicate."

                                                                    26 July 2004


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

College Hill                                          Tel: 020 7457 2020
James Henderson
Nick Elwes

                      This information is provided by RNS
            The company news service from the London Stock Exchange