Winter Drilling Delivers Positive Results at Saloon East
Press Release
Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (“Paladin” or the “Company”) is pleased to advise it has successfully completed a winter exploration program at the Patterson Lake South (PLS) high-grade uranium project in the Athabasca Basin region of Saskatchewan, Canada. The winter program was carried out in line with the Company’s strategic objective to identify additional uranium mineralization outside of the Triple R deposit within the largely underexplored 31,039-hectare PLS project.
The results represent the strongest radioactivity identified outside of the Triple R Deposit at PLS. Twenty drillholes totalling 7,102.9m were completed between February and May 2025, with eleven drillholes targeting the Saloon East area, 3.5km southeast of the Triple R deposit (Figure 1 and Table 1).
All eleven drillholes at Saloon East intersected highly elevated radioactivity in multiple zones and over significant widths with downhole gamma probe peaks up to 51,303 counts per second (cps). Radioactivity across the Saloon East area has been defined by drilling in two areas separated by 550m (Figure 2), between 200m and 420m vertically from surface within a consistent package of steeply southeast dipping, hydrothermally altered and structurally deformed basement rocks.
Drilling Highlights
⦁ Twenty exploration drillholes between February and May, totalling 7,102.9m
⦁ Drilling was primarily focused at Saloon East to target elevated radioactivity intersected in 2024
⦁ Saloon East – Eleven drillholes completed, encountering highly elevated radioactivity associated with strong hydrothermal alteration, including:
o PLS25-688A – 41.2m of total composite radioactivity, including 12.3m of continuous radioactivity averaging 3,582 cps with a maximum of 13,657 cps
o PLS25-693 – 51.0m of total composite radioactivity, including 37.2m of continuous radioactivity averaging 4,761 cps with a maximum of 34,636 cps
o PLS25-696 – 56.7m of total composite radioactivity, including 11.5m of continuous radioactivity averaging 8,957 cps with a maximum of 51,303 cps
o PLS25-698 – 25.2m of total composite radioactivity, including 12.5m of continuous radioactivity averaging 4,198 cps with a maximum of 27,730 cps
⦁ PLG-3 – one reconnaissance drillhole 100m west of the R1515W orebody intersected intensely altered basement rocks with anomalous radioactivity:
o PLS25-704 – 53.5m of total composite radioactivity, including 32.6m averaging 2,116.7 cps with a maximum of 5,133.3 cps
Paladin CEO, Ian Purdy said: “Our Canadian team are very encouraged by the initial results we are seeing at Saloon East. The drilling results at Saloon East represent the strongest radioactivity intersected on the PLS property to date outside of the Triple R deposit.
All eleven Saloon East drillholes completed to date in 2025 intersected radioactivity and have provided exciting results over significant core lengths. The widespread presence of elevated radioactivity and hydrothermal alteration suggests that we are exploring a significant mineralised system.”
Overview of the Saloon Trend
The Saloon Trend is a linear, multi-kilometre long, southwest-northeast trending structural zone up to 1km in width, that is parallel to and located 3.5km south of the shear zones that host the Triple R deposit within the Patterson Lake Conductive Corridor.
The Saloon Trend has been a major focus of the 2024 and 2025 exploration drilling, with 27 drillholes completed along 8.8km of its strike length. Drilling in August 2024 in the eastern portion of the Saloon Trend intersected anomalous radioactivity in three drillholes, PLS24-680, 682 and 684B, in what was subsequently termed Saloon East. Drilling in the first half of 2025 followed up on the August 2024 results at Saloon East and intersected highly elevated radioactivity, with notable intercepts in drillholes PLS25-696 and 698. Drilling along trend to the northeast intersected a thick zone of elevated radioactivity in PLS25-693, leaving a highly prospective 550m long untested zone between the two established zones of radioactivity.
IBF4
