Paladin Resources Ltd.: Takeover Bid for Summit Resources Limited; Close of Offer Period and Notification of Relevant Interests

Paladin Resources Ltd. ("Paladin" or "the Company") (TSX: PDN)(ASX: PDN) announces that the takeover bid by Paladin for all the fully paid ordinary shares in Summit Resources Limited (Summit) closed at 5:00pm (Perth, Western Australia time) on 1 June 2007.

For the purposes of ASX Listing Rule 3.3, Paladin gives notice that:

- it has a relevant interest in 81.82% of Summit's shares; and

- as the applicable thresholds have not been reached, compulsory acquisition of the outstanding Summit shares will not proceed.

A.C.N. 061 681 098

Contacts: Paladin Resources Ltd. John Borshoff Managing Director +61-8-9381-4366 or Mobile: +61-419-912-571 Paladin Resources Ltd. Greg Taylor Investor Relations Contact (416) 605-5120 (Toronto) Email: greg.taylor@paladinresources.com.au Website: www.paladinresources.com.au