Replace on the Langer Heinrich Mine and Manufacturing Steerage

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PERTH, Australia, March 27, 2025 (GLOBE NEWSWIRE) — Paladin Vitality Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (Paladin or the Firm) advises that operations have resumed on the Langer Heinrich Mine (LHM) following the non permanent suspension because of a major climate occasion¹.

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Unseasonal heavy rainfall has occurred in Namibia, with the LHM experiencing a one-in-fifty-year rainfall occasion. This impacted the Firm’s plans to speed up the graduation of mining and resulted in short-term disruptions to operations. These included the transport of individuals to web site, restricted feed to the crushers as a result of saturation of stockpiled ore, and extra floor water limiting secure entry to the processing plant.

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While there seems to be no vital injury to the processing plant and our persons are secure, there was injury to the entry roads and minor civil infrastructure on the LHM web site, and to the haul roads to the mine. Entry to the LHM has now been re-established and processing plant operations have resumed. Paladin expects the processing plant to return to regular operation because the in-circuit stock and chemistry stabilises and stockpiled ore saturation ranges lower.

The Firm was advancing the early graduation of mining to entry increased grade ore. The rain throughout Namibia has delayed the mobilisation of key mining gear and personnel to web site and has resulted in water ingress into the open mining pits. While onsite pumping infrastructure is sufficient to de-water the pits, entry to the pits to begin mining is prone to be delayed.

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The disruption to early graduation of mining, along with the short-term affect of the suspension of operations, and the difficulties related to processing saturated stockpiled ore, has resulted in Paladin withdrawing manufacturing steerage for FY2025.

Paladin nonetheless expects to enhance manufacturing ranges within the second half of CY2025 with the mixing of ore from the open pit mines. Nevertheless, the disruption to the anticipated begin of mining signifies that the Firm doesn’t count on the LHM to attain nameplate run-rate steerage of 6Mlb by the tip of CY2025. The acceleration of mining was a key initiative in offsetting the underperformance of stockpile ore and reaching nameplate manufacturing.

The LHM staff continues to drive operational enhancements and progress the development of mining. Improved water provide outcomes and robust ranges of plant recoveries have offered a platform for enhancing plant manufacturing. Regardless of the delays and disruptions, the popular mining contractor,

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¹  _{Seek advice from Paladin’s ASX Announcement titled “Unseasonal rains affect the Langer Heinrich Mine” dated 21 March 2025, accessible at https://www.paladinenergy.com.au/buyers/asx-announcements/.}

Trollope Mining, has commenced mining gear mobilisation and the recruitment and coaching of operators. All mining permits are in place and the blasting contractor has accomplished mobilisation.

The Firm will present additional particulars of manufacturing and mining within the March 2025 Quarterly Actions Report in April 2025 and appears ahead to offering steerage for FY2026 with the discharge of its FY2025 monetary leads to August 2025.

Paladin will maintain a convention name right now, Wednesday 26 March 2025, at 9.30am AEDT² (Tuesday, 25 March 2025, at 6.30pm EDT³). To take part within the stay teleconference, please register on the hyperlink under:

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https://s1.c-conf.com/diamondpass/10046354-u7y6t5.html

Please be aware it is suggested to go online at the least 5 minutes earlier than the scheduled graduation time to make sure you are registered in time for the beginning of the decision.

A recording of the decision shall be accessible on Paladin’s web site shortly after its conclusion.

This announcement has been authorised for launch by the Board of Administrators of Paladin Vitality Ltd

For additional data contact:

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²
_{AEDT: Australian Japanese Daylight Time (Sydney time)}
³
_{EST: Japanese Daylight Time (Toronto time)}

Cautionary Word Relating to Ahead Wanting Statements

This announcement comprises sure “ahead wanting statements” inside the that means of Australian securities legal guidelines and “ahead wanting data” inside the that means of Canadian securities legal guidelines (collectively known as “ahead wanting statements”). All statements, apart from statements of historic truth, that handle circumstances, occasions, actions or developments that might, or might or will happen are ahead wanting statements. Ahead wanting statements contain subjective judgment and evaluation and are topic to vital uncertainties, dangers and contingencies together with these danger elements related to the mining business, lots of that are outdoors the management of, change with out discover, and could also be unknown to Paladin. These dangers and uncertainties embody however usually are not restricted to liabilities inherent in mine improvement and manufacturing, geological, mining and processing technical issues, the lack to acquire any extra mine licences, permits and different regulatory approvals required in reference to mining and third social gathering processing operations, competitors for amongst different issues, capital, acquisition of reserves, undeveloped lands and expert personnel, incorrect assessments of the worth of acquisitions, modifications in commodity costs and change charges, foreign money and curiosity fluctuations, varied occasions which may disrupt operations and/or the transportation of mineral merchandise, together with labour stoppages and extreme climate situations, the demand for and availability of transportation companies, the flexibility to safe sufficient financing and administration’s capability to anticipate and handle the foregoing elements and dangers.

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Ahead wanting statements can typically be recognized by means of forward-looking phrases equivalent to “anticipate”, “count on”, “doubtless”, “suggest”, “will”, “intend”, “ought to”, “may”, “might”, “imagine”, “forecast”, “estimate”, “goal”, “outlook”, “steerage” (together with destructive or grammatical variations) and different comparable expressions. No illustration, guarantee, assure or assurance, categorical or implied, is given or made in relation to any forward-looking assertion. Specifically no illustration, guarantee or assumption, categorical or implied, is given in relation to any underlying assumption or that any forward-looking assertion shall be achieved. There might be no assurance that the forward-looking statements will show to be correct. Precise and future occasions might differ materially from the forward- wanting statements and the assumptions on which the forward-looking statements had been based mostly, as a result of occasions and precise circumstances steadily don’t happen as forecast and future outcomes are topic to identified and unknown dangers equivalent to modifications in market situations and laws.

Given these uncertainties, readers are cautioned to not place undue reliance on such forward-looking statements, and will depend on their very own unbiased enquiries, investigations and recommendation relating to data contained on this announcement. Any reliance by a reader on the data contained on this announcement is wholly on the reader’s personal danger.

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