U.S. Markets closed

Paladin Energy-Takeover Bid for NGM Resources Limited Notice to Free Offer From Conditions

PERTH, WESTERN AUSTRALIA--(Marketwire - Oct. 26, 2010) - Paladin Energy Ltd (Paladin) (TSX:PDN - News; ASX:PDN - News) announces the filing of the following notice under section 650F of the Australian Corporations Act 2001 (Cth) in relation to its takeover bid, which has been given to NGM Resources Limited, advising that the offers and any takeover contracts arising from acceptances of the offers under this takeover bid are free from the conditions set out in clause 10.12 of Paladin's bidder's statement dated 2 September 2010.




NOTICE UNDER SECTION 650F
OF THE CORPORATIONS ACT 2001 (Cth)

TO: NGM Resources Limited ABN 27 107 131 653

ASX Limited:

BY THIS NOTICE, Paladin Energy Ltd ABN 47 061 681 098 (Paladin) DECLARES the
offers dated 6 September 2010 made by it under an off-market takeover bid
for all the ordinary shares in NGM Resources Limited and the contracts (if
any) formed by the acceptance of any of those offers free from the
conditions set out in clause 10.12 of Paladin's bidder's statement dated 2
September 2010.
The offers are now free of those conditions.

As far as Paladin knows, Paladin's voting power in NGM Resources Limited at
the time of giving this notice is 90.78%.

DATED 25 October 2010

A.C.N. 061 681 098