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Paladin Resources (PLR)

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Thursday 16 June, 2005

Paladin Resources

Completion of Acquisition

Paladin Resources PLC
16 June 2005

Paladin Resources plc

Completion of Acquisition of Additional Interests in the Laminaria and Corallina
Fields, Offshore Northwestern Australia

Further to the announcement made on 11 March 2005, Paladin is pleased to
announce that its wholly owned subsidiary, Paladin Oil & Gas (Australia) Pty
Limited ("Paladin Australia"), having received all necessary partner and
regulatory approvals, has completed the acquisition of part of Shell Development
(Australia) Pty Ltd's interests in the Laminaria and Corallina Fields and the
Northern Endeavour FPSO, and its entire interest in the AC/P8 permit, all
located in the Timor Sea, offshore northwestern Australia.

The headline purchase price as at the effective date of 1 July 2004 was US$46.87

Completion of this transaction also effects completion of Paladin Australia's
farm-in agreement with Woodside announced on 24 March 2005, under the terms of
which Paladin will earn an 18.33% interest in the AC/P8 exploration permit.

                                                                    16 June 2005


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

College Hill                                          Tel: 020 7457 2020
Jim Joseph
Ben Brewerton

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