Paladin Energy Ltd: Thickener Failure Reduces Production for Approx 10 Days at Langer Heinrich

PERTH, WESTERN AUSTRALIA--(Marketwired - March 02, 2015) - Paladin Energy Ltd (PDN.TO) (PDN.TO) ("Paladin" or the "Company") wishes to advise that, the centrewell on pre-leach thickener #2 at Langer Heinrich failed, making this unit non-operational and necessitating its isolation from the process. Production now will rely on pre-leach thickener #1, reducing plant performance to around 45% of the production capacity.

Pre-leach thickener #2 is likely to be off-line for 8 to 12 days overall while necessary repairs are undertaken. On this estimate, the likely production loss is expected to be up to 100,000lb U₃O₈ for this quarter. This will likely impact stated production guidance and any revision of this will be advised once a clearer schedule for restart to full production is determined.

ACN 061 681 098