Thu Dec 6, 2007
Palladon Announces Iron Mountain Project Update

 Salt Lake City, Utah, December 6, 2007. Palladon Ventures Ltd. (TSX.V: PLL) (Frankfurt: PV-1) announces the following update on progress at the Iron Mountain Project, located 20 miles west of Cedar City, in Iron County, southwestern Utah.

The project is held in a joint venture between Palladon Ventures Ltd. and Luxor Capital Partners, and is actively redeveloping Iron County's strategically-located iron mines.

As of December 1, 2007, electrical switching gear is installed at the Iron Mountain substation site in a dust-free insulated and heated housing unit. The new substation is now near completion. Transmission line poles and equipment have been delivered and are scheduled for installation in late December 2007, to be followed by the installation of a 138kV power line connecting Iron Mountain to the Cedar City power grid. The power connection is scheduled to be completed by March 2008.

Management expects that global demand for iron ore will continue to rise and be reflected in pending pricing adjustments scheduled for Q1 2008. With this, the Company is actively negotiating strategic steel industry partnership opportunities and is currently working on rail, port, and shipping-related logistics.

The Company also wishes to state that it is not aware of any material changes in its business affairs that would account for the recent trading activity in its shares.

On Behalf of the Board of Directors,
Donald G. Foot, Jr.
President and Chief Executive Officer

About Palladon
Palladon Ventures Ltd. is a junior resource company focused on redeveloping the Iron Mountain project in Iron County, Utah. Palladon also holds interests in gold exploration projects in Nevada, Utah and Argentina.

For Further Information Please Contact

Hamish Greig
Vice President
Palladon Ventures Ltd.
604-484-7088 Tel
604-484-7044 Fax

Frank Dolce
Vice President
Palladon Ventures Ltd.
801-521-5252 Tel
801-521-5454 Fax

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

You can view the Next Press Releases item: Tue Apr 1, 2008, Palladon Signs Long-Term Iron Ore Sales Agreement

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