Board changes & change of Registered Office following Paladin takeover

    PERTH, Western Australia, Feb. 9 /CNW/ - Fusion Resources Limited (Fusion
or Company) (ASX: FSN, TSX: FNS) is pleased to announce that following Paladin
Energy Ltd (Paladin) declaring its takeover offer for the Company
unconditional, Messrs Rick Crabb, John Borshoff and Ms Gillian Swaby have been
appointed as Directors of the Company. Messrs Crabb, Borshoff and Ms Swaby are
respectively the Chairman, Managing Director and Company Secretary of Paladin
Energy Ltd.
    The Board is pleased that persons with the experience and skills of the
new Directors have agreed to join the Board and believe that their
appointments will help the Company advance its key project, the Valhalla North
Uranium Project in Queensland.
    In addition, Mr Mark Bolton has been appointed as Chief Financial Officer
and Ms Joanne McDonald has been appointed as Joint Company Secretary of the
    Following the above mentioned appointments, Messrs David Berrie, Matthew
Rimes, Matthew Yates, Michael Raven and Mark Pearce have resigned as Directors
of the Company, with effect from today.
    Mr Ian Middlemas and Mr Greg Swan will continue in the roles of Chairman
and Joint Company Secretary respectively during a short period of transition.
    The Board would like to thank the outgoing Directors for their time and
efforts towards building the Company since its listing on the ASX in May 2005
and wishes them well with their future endeavours.
    The Company also advises the following changes to Fusion's Principal and
Registered Office, which from today will be located at:

                          Grand Central, First Floor
                          26 Railway Road
                          SUBIACO  WA  6008

          Postal address: PO Box 201
                          SUBIACO  WA  6904

          Telephone:      (+61 8) 9381 4366
          Facsimile:      (+61 8) 9381 4978

    Please note the share register will continue to be held by:

                          Computershare Investor Services Pty Ltd
                          Level 2, 45 St Georges Terrace
                          PERTH  WA 6000
                          Tel:  (+61 8) 9323 2000
                          Fax: (+61 8) 9323 2033

For further information:

For further information: Joanne McDonald, Company Secretary, Tel: (+61
8) 9381 4366, Fax: (+61 8) 9381 4974

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