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/Warwai deriving from Paladin’s 82.08% ownership of Summit Resources Ltd or the 100% owned Duke Batman and Honey Pot deposits.

Click here to download a copy of the below table.

Project Overview Mining Method/
Deposit Type

Outlook

Resources
Uranium Mines
*Langer Heinrich Mine - 75%
(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)

119.8Mt @ 0.052% (136.2Mlb U3O8)

Inferred:

17.6Mt @ 0.06% (22.6Mlb 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)

15.0Mt @ 0.072% (23.9Mlb 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:

47.6Mt @ 0.10% (100.8Mlb U3O8)

Inferred:

21.9Mt @ 0.08% (39.8Mlb 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.
*Complies with JORC(2004) guidelines and is NI 43-101 Compliant. The mineral resource for the Michelin deposit also conforms to JORC(2012)
** Complies with JORC(2012) guidelines and is NI 43-101 Compliant.
(a) For Kayelekera, the Government of Malawi holds a 15% equity interest in the subsidiary, Paladin (Africa) Ltd, 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 2014.
M&I = Measured and Indicated.

Latest Prices

© Paladin Energy Ltd 2014

Latest Announcements

Level 4, 502 Hay Street, (Po Box 201)
Subiaco Western Australia 6008
Phone +61 (8) 9381 4366
Fax +61 (8) 9381 4978
E-mailpaladin@paladinenergy.com.au