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

Palladon Ventures Ltd.

July 10, 2008 13:29 ET

Palladon Announces Board Changes and New Hires

SALT LAKE CITY, UTAH--(Marketwire - July 10, 2008) - Palladon Ventures Ltd. (TSX VENTURE:PLL)(FRANKFURT:PV-1) is pleased to announce the appointments of Mr. John Cutler and Mr. Jared Sturdivant to the Board of Directors. In addition, Mr. Darrel Twede has joined the Company as the Acting Chief Operating Officer and Chief Technical Officer.

Mr. Cutler is a strategist with Swank Capital, LLC, a multi fund manager specializing in energy and natural resource investments. The firm manages funds across a number of strategies including the Dalrymple Global Resources Fund, LP set up to capitalize on the global demand for commodities through equity investments and futures contracts. Prior to joining Swank Capital, Mr. Cutler compiled over 30 years experience in the investment management and securities industries. He started his career as a portfolio manager with U.S. Trust Co. of New York in 1974. He subsequently held senior positions with major investment banking firms including CS First Boston and Smith Barney. Mr. Cutler also served as Vice President in the research group of John S. Herold, Inc. Mr. Cutler received a BS in Finance from the University of Virginia - McIntire School of Commerce in 1974. He also pursued further studies at The New York Institute of Finance and The New School, NYC.

Mr. Sturdivant is currently a Managing Director of JANA Partners LLC. Previously he was an investment analyst for Harvest Management LLC (2004-2005) focusing on distressed and special situation investments. He also previously worked as a restructuring and M&A Advisor for Conway, Del Genio, Gries & Co. LLC (2001-2003). Mr. Sturdivant graduated with a B.A. in Finance from the University of Texas at Austin in 2001, (magna cum laude).

Mr. Twede recently retired from FLSmidth Minerals, formerly known as Eimco where he was a project manager for the last 15 years with projects in Asia, South America, and the United States. Prior to his employment at Eimco, he worked at Evans & Sutherland in Salt Lake City as Program Manager where he managed domestic and international multi-million dollar programs in the simulation industry. He was employed at Kennecott Copper as a control systems engineer in the development of control systems in Kennecott's operation. Mr. Twede received his M.S. in Electrical Engineering from the University of Utah, and is a past member of Eta Kappa Nu (HKN) Honor Society, the Institute of Electrical and Electronic Engineers (IEEE), and the Instrument Society of America (ISA). He received his Professional Engineer License in 1969 from the state of Utah.

The Company also announces that Dr. Michael G. Nelson has resigned from the Board of Directors at Palladon Ventures to focus on his assignments as a professor of Mining Engineering at the University of Utah.

The Company had hoped to have a conference call for investors this week but has postponed it as Mr. Foot is traveling to China. A detailed investor call will be scheduled for July 23, 2008 to give complete details of the start-up of the mine.

"We are very fortunate to have John Cutler and Jared Sturdivant join our Board," said Donald G. Foot, Jr., President and CEO, Palladon Ventures Ltd. "Their experience in the financial markets will help to re-position our Board's strength towards the operating concerns of the future. Darrel Twede brings a wealth of Project Management and plant start-up experience and will be a huge asset in a smooth start-up. In addition, other key positions at the site have now been filled with excellent additions. We are pleased to have attracted this talent for the Company at such a competitive time in our industry."

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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