Paladin Energy Ltd has executed a definitive Mutual Benefits Agreement with the Birch Narrows Dene Nation for the Patterson Lake South project in Saskatchewan, Canada, following a binding term sheet signed in April 2026.

The agreement covers the entire lifespan of the Patterson Lake South project, spanning development, production, decommissioning, and reclamation. It provides provincial and federal regulators with formal confirmation that the First Nation supports the development and that mechanisms for ongoing engagement are in place as the project advances through its permitting and licensing phase. Paladin is currently advancing the technical detail required to support its construction licence application submitted to the Canadian Nuclear Safety Commission.

The pact represents the third Mutual Benefits Agreement secured for the project, following similar accords established with the Buffalo River Dene Nation and the Clearwater River Dene Nation in February 2025. Paladin acquired the Patterson Lake South asset through its takeover of Fission Uranium Corp. in December 2024, operating the Canadian asset through its subsidiary Paladin Canada Inc.

“We are pleased to reach this important agreement with the BNDN and our goal is to be a good neighbour and long-term partner with their community in Saskatchewan, so that they receive a positive benefit from the development of the Project for many years to come.”

“This Agreement reflects Birch Narrows Dene Nation’s commitment to exercising our rights and responsibilities as a Nation while creating meaningful opportunities for our people. Strong environmental protection must remain at the heart of development in our Territory, and this Agreement provides an important framework for that. At the same time, our community expects to see significant and lasting benefits from the Project. We look forward to being a meaningful partner in the Patterson Lake South Project and working with Paladin Canada to ensure it is developed responsibly, respectfully and in a way that creates lasting value for our people.” — Paul Hemburrow, Paladin Energy MD and CEO

Read the full announcement: Mutual Benefits Agreement with Birch Narrows Dene Nation