PERTH, WESTERN AUSTRALIA -- (Marketwire) -- 01/31/13 -- Paladin Energy Ltd ("Paladin" or "the Company") (TSX:PDN)(ASX:PDN) notes that, on 15 August 2012, the Company advised the successful negotiation of a milestone long term off-take uranium sales contract with Electricite de France S.A. (EDF) the largest nuclear utility in the world. Importantly this sales contract requiring product deliveries from 2019 to 2024 included a US$200M prepayment component to be paid in tranches before 31 January 2013. The first tranche of US$50M was paid in September 2012.

Paladin is pleased to announce that, in accordance with the payment schedule agreed with EdF, the final tranche of US$150M has been received.

As advised previously, these funds will be used to repay the balance of the March 2012 convertible bonds (US$134M) with the remainder retained for balance sheet strength as working capital.

ACN 061 681 098

Contacts:
Paladin Energy Ltd
John Borshoff
Managing Director/CEO
+61-8-9381-4366 or Mobile: +61-419-912-571
[email protected]

Paladin Energy Ltd
Greg Taylor
Investor Relations Contact
+1 905 337-7673 or Mobile: +1 416-605-5120 (Toronto)
[email protected]

Source: Marketwire (January 31, 2013 - 8:16 AM EST)