AVIRA RESOURCES LTD — Capital/Financing Update 2016

Nov 14, 2016

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PALADIN ENERGY LTD

ACN 061 681 098

Ref: 418231

15 November 2016

ASX Market Announcements By Electronic Lodgement Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

MANYINGEE SALE OF TENEMENT AGREEMENT EXECUTED

Paladin Energy Ltd (Paladin) (ASX:PDN / TSX:PDN) is pleased to advise that MGT Resources group of companies have signed a sale of tenement agreement with Paladin group of companies in relation to a joint venture over the Manyingee Mining Leases (M08/86, M08/87 M08/88) (Manyingee Uranium Project) in North Western Australia.

The transaction is conditional on all relevant approvals (including MGT shareholder approval) and is subject to MGT financing.

Yours faithfully Paladin Energy Ltd

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ALEXANDER MOLYNEUX CEO

Level 4, 502 Hay Street, Subiaco, Western Australia 6008 Postal: PO Box 201, Subiaco, Western Australia 6904 Tel: +61 (8) 9381 4366 Fax: +61 (8) 9381 4978 Email: paladin@paladinenergy.com.au Website: www.paladinenergy.com.au