PERTH, WESTERN AUSTRALIA--(Marketwire - Aug. 24, 2012) - Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) (Paladin or the Company) is pleased to advise it has secured two mid-term off-take agreements for U3O8 production originating from its mining operations at Langer Heinrich in Namibia and Kayelekera in Malawi.

These agreements are for the purchase of a total of 6.3Mlb U3O8 to be delivered from late 2012 to end 2015 at approximately 2Mlb pa. Pricing will be determined predominately by the market price at the time of delivery(without floor or ceiling limitations) while a minority portion of the delivery prices will be in accordance with a series of specified fixed prices which exceed current spot uranium prices.

These sales contracts further confirm Paladin's increasing role in the term uranium market based upon the Company's production growth strategy.

ACN 061 681 098

Contact Information:

In Australia: Paladin Energy Ltd
John Borshoff
Managing Director/CEO
+61 8 9381 4366 or Mobile: +61 419 912 571
+61 (8) 9381 4978 (FAX)

In Canada: Paladin Energy Ltd
Greg Taylor
Investor Relations Contact
905 337-7673 or Mobile: 416 605-5120 (Toronto)