Total Resources

A summary of the status for each of the Company’s key advanced projects is detailed in the following table. This table does not include Mineral Resources from Bikini, Andersons and Watta deriving from Paladin’s 82.08% ownership of Summit Resources Ltd.

Project Overview Mining Method/
Deposit Type

Outlook

Resources
Uranium Production
*Langer Heinrich Mine - 100%
(Namibia, Southern Africa)

The Company’s cornerstone asset commenced production in 2007. The Stage 3 expansion is complete with production at 5.2Mlb per annum (pa). Studies are underway for a further expansion to 8.5Mlb pa.

Conventional open pit; calcrete Project life in excess of 20 years.
Any expansion is uranium price dependent.
M&I (inc stockpiles)

124.1Mt @ 0.052% (142.2Mlb U3O8)

Inferred:

17.8Mt @ 0.06% (22.8Mlb U3O8)

*Kayelekera Mine - 100%
(Malawi, Southern Africa)
Paladin’s second uranium mine, capable of operating at near nameplate of 3.3Mlb pa. Conventional open pit; sandstone Currently on 'care and maintenance' due to low uranium price M&I (inc stockpiles)

15.8Mt @ 0.076% (26.6Mlb U3O8)

Inferred:

5.4Mt @ 0.06%(7.4Mlb U3O8)

Uranium Development
*Aurora Project - 100%
(Labrador, Canada)
Paladin’s first entry into Canada. Resource definition and additional exploration commenced in the second half of calendar year 2012 and is ongoing. Open pit - underground; metasomatic

Resource definition and extension drilling has commenced

M&I:

40.2Mt @ 0.09% (83.8Mlb U3O8)

Inferred:

29.1Mt @ 0.08% (53.0Mlb U3O8)

*Manyingee Project - 100%
(Western Pilbara, Western Australia)

Resource definition and extension drilling commenced in July 2012 and is ongoing.

In-situ recovery; sandstone 3 year staged feasibility study required M&I:

8.4Mt @ 0.09%
(15.7Mlb U3O8)

Inferred:

5.4Mt @ 0.09%
(10.2Mlb U3O8)

Oobagooma Project - 100%
(West Kimberley, Western Australia)
A key pipeline asset for Paladin.  In-situ recovery; sandstone 3 year reserve/
resource drilling required
Exploration target: 8.0Mt @ 0.12%-0.14% (U3O8)
*Valhalla, Skal & Odin Deposits – 91.04%
(Queensland, Australia)
Paladin’s primary Australian asset. Efforts are ongoing to develop a flow sheet and expand the resource before moving towards a Feasibility Study. Open pit - underground; metasomatic Development dependent on market conditions. M&I:

57.2Mt @ 0.07% (93.7Mlb U3O8)

Inferred:

16.3Mt @ 0.06% (22.0Mlb U3O8)

*Bigrlyi Deposit - 41.71%
(Northern Territory, Australia)
Limited work within the JV tenements. Co-operative arrangement to assess nearby regional targets. Open pit - underground; sandstone Future direction of project will be determined market conditions M&I:

4.7Mt @ 0.14%
(14.1Mlb U3O8)

Inferred:

2.8Mt @ 0.11%
(7.1Mlb U3O8)

*Angela Deposit - 100%
(Northern Territory, Australia)
A core resource delineated having potential for extension. Open pit - underground; sandstone Future direction of project will be determined market conditions Inferred: 10.7Mt @ 0.13% (30.8Mlb U3O8)

Mineral Resources are quoted inclusive of any Ore Reserves that may be applicable.
Mineral Resources detailed above in all cases represent 100% of the resource – not the participant’s share.
*Conforms to JORC(2004) guidelines & is NI 43-101 Compliant.
(a) For Kayelekera, the Government of Malawi holds a 15% equity interest in the subsidiary, Paladin (Africa) Limited, the holder of the Kayelekera Mining Licence.
(b) For Valhalla, Skal & Odin, Paladin’s interest is based on 50% deriving from the Isa Uranium Joint Venture and 41.04% via Paladin’s 82.08% ownership of Summit Resources Ltd.
Langer Heinrich and Kayelekera Mineral Resources have been depleted for mining to the end of June 2013.
M&I = Measured and Indicated.

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