Mr. Alexander Molyneux reports

PALADIN ENERGY LIMITED: MGT SHAREHOLDER APPROVAL TO ACQUIRE 30% MANYINGEE

Paladin Energy Ltd. has received shareholder approval to acquire 30 per cent of the Manyingee uranium project for $10-million (U.S.) cash. The approval represents another positive milestone toward closing the transaction.

Paladin first announced the signing of a binding term sheet with MGT on July 21, 2016, followed by the signing of a sale of tenement agreement Nov. 16, 2016. The agreement was for MGT to acquire an initial interest of 30 per cent in Manyingee, with an option to acquire an additional 45 per cent of Manyingee for $20-million (U.S.) cash.

The sale remains subject to certain conditions with close expected late March early April, 2017.