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Paladin Resources (PLR)

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Tuesday 28 June, 2005

Paladin Resources

First Oil from Brechin

Paladin Resources PLC
28 June 2005

("Paladin" )

First Oil Production from Brechin Field

Paladin Resources plc announces that oil production has successfully commenced
from the Brechin Field, at an initial rate in excess of 8,000 bopd.

The Brechin Field, which lies close to the Montrose, Arbroath and Arkwright 
("MonArb") field complex, was discovered in May 2004 by Paladin's first UK
operated exploration well 22/23a-7, which penetrated 138 ft of oil-bearing
Palaeocene Forties Sandstone. The field has been developed by a single
horizontal subsea development well tied back to the existing Arkwright Field
subsea infrastructure, which lies approximately 3 km to the west.  Oil is
processed on the Montrose Field platform prior to export to shore via the
Forties Pipeline System.

Joint-venture partner interests in the Brechin Field development and in the
Montrose, Arbroath and Arkwright Fields are Paladin Expro Limited (operator)
58.97 per cent and Energy North Sea Limited, a wholly owned subsidiary of
Marubeni Corporation, 41.03 per cent.

Colin Reid, Paladin's Aberdeen-based UK General Manager, commented:

"The successful development of Brechin is a milestone for both Paladin as an
operator and for the MonArb area. First oil has been delivered on budget and on
schedule only thirteen months after discovery, demonstrating the ability of
Paladin and its partners and contractors to exploit satellite development
opportunities efficiently."

                                                                    28 June 2005


Paladin Resources plc
Roy A. Franklin, Chief Executive                     Tel:    020 7024 4500
Cuth McDowell, Finance Director
Colin Reid, UK General Manager                       Tel:    01224  615600

College Hill
Jim Joseph                                           Tel :   020 7457 2020
Ben Brewerton

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            The company news service from the London Stock Exchange               DPSEFE