Palladon Ventures Ltd.

Palladon Ventures Ltd.

April 20, 2007 16:02 ET

Palladon Announces Amended Private Placement

SALT LAKE CITY, UTAH--(CCNMatthews - April 20, 2007) - Palladon Ventures Ltd. (TSX VENTURE:PLL)(FRANKFURT:PV-1) announces that it has amended the terms of the private placement announced March 6, 2007 so that the offering is now priced at $0.30 per unit up to a maximum of $8,000,000 in proceeds.

Each unit consists of one common share plus one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of CAD$0.50 for a period of 24 months from closing. Palladon has agreed to pay a finders fee of 10% on gross proceeds.

Net proceeds of the Offering will be used for working capital.

The offering is subject to the approval of the TSX Venture Exchange.

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 building production facilities at the Comstock/Mountain Lion iron mine in Iron County, Utah. Palladon also holds gold exploration projects in Nevada, Utah and Argentina.

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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