Paladin Resources Ltd (PDN): Paladin Resources Ltd.: Increase in Inve...

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Friday, 03/30/2007 10:32:52 AM

Friday, March 30, 2007 10:32:52 AM

Paladin Resources Ltd.: Increase in Investment in Deep Yellow Limited
Friday March 30, 8:22 am ET

PERTH, WESTERN AUSTRALIA--(CCNMatthews - March 30, 2007) - Paladin Resources Ltd ("Paladin" or "the Company")(TSX:PDN - News; ASX:PDN - News) advises that the Company's shareholding in Deep Yellow Limited is now 10.64 % represented by 106,126,163 shares in that company. This follows an off market purchase of 10,000,000 shares at AUS$ 0.40 per share.
Deep Yellow Limited is a dedicated uranium exploration company listed on ASX (code: DYL) operating in Australia and Namibia. Paladin sees a significant advantage in maintaining a strategic holding in this company.

A.C.N. 061 681 098

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

Greg Taylor
Paladin Resources Ltd.
Investor Relations Contact
(416) 605-5120 (Toronto)
Email: greg.taylor@paladinresources.com.au
Website: www.paladinresources.com.au

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Source: Paladin Resources Ltd.

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