Palladon Ventures Ltd.
TSX VENTURE : PLL

Palladon Ventures Ltd.

October 19, 2005 09:30 ET

Palladon Announces Restructured Management and Appointment of New Director

SALT LAKE CITY, UTAH--(CCNMatthews - Oct. 19, 2005) - Palladon Ventures Ltd. (TSX VENTURE:PLL) is pleased to announce that the Company has appointed Dr. Michael G. Nelson to its Board of directors, has restructured management, and has established corporate governance directives and board committees.

Donald G. Foot, Jr. has been appointed as President and Chief Operating Officer, and will work closely with George S. Young, who will remain as the Company's Chief Executive Officer. Mr. Foot served previously as the Company's Vice President of Operations, and has significant operating and processing experience in various aspects of mineral processing and project design and start-up. Paul Higgins, a current director, has been appointed as the Company's Chief Financial Officer and Hamish Greig has been appointed as Corporate Secretary.

Mr. Foot is a Metallurgical Engineer with extensive experience in mineral processing, project management, software development, business development, and corporate management, from small entrepreneurial businesses to large corporations. He has successfully managed three start-up ventures in the mineral processing and advanced process control industries and holds numerous patents and technical publications to his credit. Mr. Foot is a recognized leader in the advancement and general worldwide acceptance of column flotation technology. Mr. Foot holds a degree in Metallurgical Engineering and a Masters Degree in Engineering Administration from the University of Utah.

Dr. Michael Nelson is professor of mining engineering at the University of Utah. Dr. Nelson previously served as Senior Research Engineer for Consolidation Coal in its Pennsylvania Research Facility and as Director of Research and Process Engineering at EIMCO Process Equipment Company. He also served five years as professor of Mining Engineering at the University of Alaska Fairbanks. He received a B.S. in Metallurgical Engineering and an M.S. in Instrumentation Physics from the University of Utah, and a Ph.D. in Mineral Engineering from West Virginia University. Dr. Nelson holds eight patents relating to mining methods, and mining and mineral processing equipment. He consults for mining and equipment companies in the U.S., Australia, and South America. Dr. Nelson has extensive experience in property assessment and development and will bring his expertise to Palladon in the development of both the copper and iron properties.

Further to the Company's management changes, the Company has also reconstituted various Board Committees. The Company's Audit Committee now currently consists of Allan Williams, Rod Kirkham, and Keith MacDougall, all independent directors, and also includes Donald Foot. The Company has also established a Corporate Governance Committee, initially consisting of Rod Kirkham, George Young and Allan Williams, and has established a Compensation and Nominating Committee initially consisting of Donald Foot, Keith MacDougall and Dr. Michael Nelson.

The Company's Management and Board Committee changes reflect the efforts of the Company in ensuring diligent and effective corporate governance. The Company is committed to establishing and maintaining corporate governance mechanisms and procedures that will assist the Company in successfully executing its plans for the continued exploration and development of its properties.

Palladon CEO George Young commented, "We are pleased to retain the excellent technical expertise of Don Foot in a position of responsibility and impact. At this point in the development of our Comstock/Mountain Lion iron project and the ongoing work at the Western Utah copper project, their background and technical expertise will be invaluable to us. Likewise, Dr. Nelson adds a tremendous dimension of knowledge and technical capability to our board of directors."

ON BEHALF OF THE BOARD OF DIRECTORS OF PALLADON VENTURES LTD.

George S. Young, CEO, 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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