Palladon Announces $2.0 Million Offering

Palladon Ventures Ltd. (TSX VENTURE:PLL)(FWB:PV-1) (the"Company") is pleased to announce that it has entered into an agreement to raise up to $2 million by way of a brokered private placement on a best efforts basis with Northern Securities Inc. acting as Agent. The financing will consist of the issuance of up to 4 million units (the "Units") priced at $0.50 per Unit. The Agent has been granted an option to offer for sale up to an additional $1.0 million of Units at a price of $0.50 per additional Unit, exercisable until closing. Each Unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one additional common share, at $0.75, for a period of 24 months following the closing date.

The Agent will be entitled to a cash commission equal to 8% of the aggregate gross proceeds raised under the Offering. The Company will also grant the Agent warrants ("Broker Warrants") equal to the 10% of the number of Units sold under the Offering. Each Broker Warrant will entitle the Agent to purchase one Unit at a price of $0.50. The Offering is subject to regulatory approval.

The net proceeds of the private placement will be used by the Company to further develop its joint-venture iron ore project located in Iron County, Utah, and for general corporate purposes.

All securities issued with respect to the private placement will be subject to a hold period of four months from closing. Completion of the private placement is subject to the approval of the TSX Venture Exchange.

On Behalf of the Board of Directors,

Donald G. Foot, Jr., President & Chief Operating Officer

About Palladon

Palladon Ventures Ltd. is a junior resource company focused on the exploration and development of mineral resource projects worldwide. Development stage projects include the Western Utah Copper Project near Milford, Utah, the Iron Mountain project near Cedar City, Utah, in addition to exploration stage projects in Utah, Nevada, and Argentina.

The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of the contents hereof.

Palladon Ventures Ltd. (TSX VENTURE:PLL) (FRANKFURT:PV-1)