Palladon Ventures Ltd.

Palladon Ventures Ltd.

March 23, 2007 12:33 ET

Palladon Announces Shares for Debt Settlement

SALT LAKE CITY, UTAH--(CCNMatthews - March 23, 2007) - Palladon Ventures Ltd. (TSX VENTURE:PLL)(FRANKFURT:PV-1) announces that the TSX Venture Exchange has accepted for filing the company's proposal to issue 2,290,597 shares at a deemed price of CAD$0.70 cents per share to settle outstanding debt for CAD$1,603,418, as announced on December 18, 2006.

The shares were issued on March 21, 2007, to Mr. George S. Young, a director of the Company, and are subject to a hold period of four months and one day. The issued and outstanding number of common shares of the Company is now 49,700,805.

On Behalf of the Board of Directors,

Donald G. Foot, Jr., President & 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 and copper 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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