Palladon Ventures Ltd.

Palladon Ventures Ltd.

March 18, 2009 16:59 ET

Palladon Announces Appointment of New Officers

SALT LAKE CITY, UTAH--(Marketwire - March 18, 2009) - Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE:PLL)(FRANKFURT:PV-1) is pleased to announce that Mr. John W. Cutler, a director of the Company, has been appointed as the Interim Chief Executive Officer of the Company.

The Company is also pleased to announce that Mr. Jeffery D. Clark, a director of the company, has been appointed as the Company's Interim Chief Financial Officer and that Mr. Leonard J. Sojka, a director of the Company, has been appointed as the Company's Interim Corporate Secretary.

The Company intends to hold a conference call with the Company's shareholders next week to provide a corporate update.

The Company also wishes to announce that Mr. Donald G. Foot, Jr. has resigned as a director, President and Chief Executive Officer of the Company and that Ms. Annjanine Etzel has resigned as a director and Chief Financial Officer of the Company. The board wishes to express its thanks to Mr. Foot and Ms. Etzel for their contributions to the Company's development.

On Behalf of the Board of Directors,

John W. Cutler, Interim Chief Executive Officer and Director

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.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration and production, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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