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Paladin Resources (PLR)

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Friday 11 March, 2005

Paladin Resources

Result of placing

Paladin Resources PLC
11 March 2005



Paladin Resources plc

("Paladin")



11 March 2005                                        For Immediate Release



This announcement does not and these materials do not constitute an offer to
sell or issue or the solicitation of an offer to buy or subscribe for ordinary
shares in the capital of the Company ("Paladin Shares") in the United States,
Canada, Australia, Japan or in any jurisdiction in which such offer or
solicitation is unlawful and the information contained herein is not for
publication or distribution, directly or indirectly, in or into Australia,
Canada, Japan or the United States or any jurisdiction in which such publication
or distribution is unlawful.



Result of Successful Placing



Paladin is pleased to announce that, further to this morning's announcement of a
proposed Placing, 13 million new ordinary shares of 10 pence each have been
successfully placed by JPMorgan Cazenove Limited ("JPMorgan Cazenove") and
Merrill Lynch International ("Merrill Lynch"). Following the accelerated
bookbuilding process, the Placing Price has been set at 173.5 pence per share,
raising approximately £22 million, net of expenses.



ENQUIRIES:


Paladin Resources plc                                Tel: 020 7024 4500
Roy A. Franklin, Chief Executive
Cuth McDowell, Finance Director

JPMorgan Cazenove                                    Tel: 020 7588 2828
John Paynter
Greg Bennett
Robert Constant

Merrill Lynch                                        Tel: 0207 996 1000
Peter Tracey
Andrew Fairclough
Oliver Holbourn

College Hill                                         Tel: 0207 457 2020
Jim Joseph
Ben Brewerton



The Placing Shares will be credited as fully paid and will rank equally in all
respects with the existing ordinary shares of 10  pence each in the share
capital of Paladin, including the right to receive all dividends and other
distributions declared, made or paid after the date of issue of the Placing
Shares. Application has been made to the United Kingdom Listing Authority for
the Placing Shares to be admitted to the official list maintained by the United
Kingdom Listing Authority, and for such shares to be admitted to trading by the
London Stock Exchange plc on its market for listed securities. This announcement
does not constitute an invitation to underwrite, subscribe for or otherwise
acquire or dispose of any Paladin Shares. Past performance is no guide to future
performance and persons needing advice should consult an independent financial
adviser.



This announcement is not for publication or distribution, directly or
indirectly, in or into the United States. This announcement is not an offer of
Paladin Shares for sale into the United States. The Paladin Shares have not been
and will not be registered under the U.S. Securities Act of 1933 (as amended)
and may not be offered or sold in the United States unless they are registered
or exempt from registration. There will be no public offer of Paladin Shares in
the United States.



JPMorgan Cazenove is acting for Paladin in connection with the Placing and no
one else and will not be responsible to anyone other than Paladin for providing
the protections afforded to clients of JPMorgan Cazenove nor for providing
advice in relation to the Placing.



Merrill Lynch is acting for Paladin in connection with the Placing and no one
else and will not be responsible to anyone other than Paladin for providing the
protections afforded to clients of Merrill Lynch nor for providing advice in
relation to the Placing.




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