PERTH, WESTERN AUSTRALIA--(Marketwire - Oct. 26, 2012) - Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) (Paladin or the Company) notes that, on 15 August 2012, the Company had announced that it had entered into a Long Term Off-take Contract for the period 2019 to 2024.

Paladin is pleased to confirm that the counterparty to this contract is Électricité de France S.A (EdF). EdF is the main electricity generating and distribution company in France and manages 58 nuclear power plants in that country making it the largest single nuclear utility in the world.

The Board of Paladin is very pleased to have established a first long-term relationship and working partnership with this major international utility.

Building on this, Paladin will continue its strategic discussions with parties to optimise the value of the unique position the Company has established for itself in the global uranium supply sector.

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

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