Paladin Energy Ltd: Acquisition of Shares in Deep Yellow Ltd

Thu Sep 18, 7:02 AM

PERTH, WESTERN AUSTRALIA--(Marketwire - Sept. 18, 2008) - Paladin Energy Ltd ("Paladin" or "the Company") (TSX: PDN.TO)(ASX: PDN.AX) advises that today it has acquired 44,700,000 shares in Deep Yellow Ltd (ASX: DYL.AX) (Deep Yellow) taking its investment in this company from 15.3% to 19.29%.

Paladin recognises the extensive tenement position of Deep Yellow and Deep Yellow's strong uranium management and exploration team. The acquisition of the additional Deep Yellow shares is a strategic investment for Paladin.

Paladin looks forward to continuing to be a supportive shareholder of Deep Yellow. Information on Deep Yellow can be found at www.deepyellow.com.au.

Contacts

John Borshoff
Paladin Energy Ltd
Managing Director
+61-8-9381-4366 or Mobile: +61-419-912-571

Greg Taylor
Paladin Energy Ltd
Investor Relations Contact
(905) 337-7673 or Mobile (416) 605-5120 (Toronto)
Email: greg.taylor@paladinenergy.com.au
Website: www.paladinenergy.com.au