PDN Paladin Energy Ltd

Paladin Resources Ltd ("Paladin") (TSX:PDN)(ASX:PDN) has released its operational and financial results for the quarter ended December 31, 2005. Second Quarter Highlights Operational: - Construction activity continues on schedule (31% complete) and budget for the Langer Heinrich Uranium Project, Namibia - BFS progressed on the Kayelekera Uranium Project, Malawi - including metallurgical work and State Agreement discussions - Uranium spot price continues to rise - currently US$37.50 Subsequent to this period, Paladin has announced both a significant increase in the mineral resources of the Kayelekera Uranium Project as a result of recently completed resource drilling; and the granting of three Exclusive Prospecting Licenses in Northern Malawi - See news releases of January 24, 2006 and February 1, 2006. Financial: - As at December 31, 2005, the Company had A$94.4 million in cash and cash equivalents, compared with A$34.9 million at the commencement of the quarter - as a result of the A$77 million placement completed in October 2005 - Mine construction expenditure of A$15.7 million and exploration/evaluation expenditure of A$0.2 million for the second quarter on the Langer Heinrich Uranium Project - Exploration and evaluation expenditure of A$0.6 million during the second quarter for the Kayelekera Uranium Project - Operating profit for the latest period was A$2.3 million, compared with a loss (including a profit from discontinued operations) of A$1.5 million for the prior period Detailed results will be available shortly with the Company's other documents filed on Sedar (http://www.sedar.com). The Quarterly Report for the period includes a Report to Shareholders, Management Discussion and Analysis and the Half Year Report December 31, 2005. Paladin Resources Ltd. (TSX:PDN) (ASX.:PDN)