Palladon Ventures Ltd.
TSX VENTURE : PLL

Palladon Ventures Ltd.

May 13, 2005 08:46 ET

Palladon Commences Magnetic Separation Analyses; Appoints Paul Higgins as Chief Financial Officer

BROOMFIELD, COLORADO--(CCNMatthews - May 13, 2005) - Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE:PLL) is pleased to announce that it has commenced confirming magnetic separation tests on iron ores from the Mountain Lion iron project in Utah. Tests will be run by Dawson Metallurgical Laboratories of Salt Lake City, Utah, with assays performed by Lerch Brothers Labs of Minnesota. The tests will aid in the preparation of specifications of magnetically-enhanced direct shipping ore and for shipment to customers in the U.S. and overseas. Results of previous tests performed by the prior owners of the property have now been received by Palladon following the closing of the purchase. Those tests demonstrate the amenability of the ore to magnetic treatment to economically produce a high-quality product. Results of the confirming tests are expected by the end of May. The results will be added to the data and drill core recently received from the seller in the final arrangements for the commencement of operations on the Iron Project including the updating of the feasibility study, bulk sampling, and renovation of surface facilities.

The Company is also pleased to announce the appointment of Paul W. Higgins as Chief Financial Officer and a Director. Paul Higgins is an Accountant with 30 years' experience in financial reporting for mining and related industries. He gained wide experience during his years spent as Auditor for large resource, steel production and construction companies. He has held positions from Corporate Accountant through to Company Secretary/Director in commercial industries and government departments within the US and overseas. He has been responsible for the establishment of new minerals businesses and has overseen their development, assisting in their management and financial set up. He has also served as sales manager for large industrial mineral concerns, and has established and built up new markets throughout the US and overseas. A native of Australia now living in Utah, his experience in the iron and steel industries and in international marketing will be extremely valuable to Palladon in its iron ore marketing activities.

Palladon president George Young said "We are pleased to receive the previous positive results on magnetic separation and to perform confirming tests. We expect positive results to enhance the quality of the product we will sell. Paul Higgins is an experienced professional who will add great depth to our management team and bring us a tremendous background in international marketing and in the iron industry. We expect to proceed rapidly with the development of the iron project, with an emphasis in the short term of generating a cash flow from ore purchase contracts."

ON BEHALF OF THE BOARD OF DIRECTORS

OF PALLADON VENTURES LTD.

George S. Young, President, Director

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

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