Palladon Ventures Ltd.

Palladon Ventures Ltd.

March 22, 2006 09:30 ET

Palladon Increases Size of Private Placement

SALT LAKE CITY, UTAH--(CCNMatthews - March 22, 2006) - Palladon Ventures Ltd. (the "Company") (TSX VENTURE:PLL)(FWB:PV-1) wishes to report that the private placement of units (the "Offering") announced on March 16, 2006, with Northern Securities Inc. (the "Agent"), has been increased from CAD$2 million to $5 million.

The financing will consist of the issuance of up to 10 million units (the "Units") priced at $0.50 per Unit. Each Unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one additional common share at $0.75, for a period of 24 months following the closing date.

All securities issued with respect to the private placement will be subject to a hold period of four months from closing. Completion of the private placement is subject to the approval of the TSX Venture Exchange.

On Behalf of the Board of Directors,

Donald G. Foot, Jr., President & Chief Operating Officer

About Palladon

Palladon Ventures Ltd. is a junior resource company focused on the exploration and development of mineral resource projects worldwide. Development stage projects include the Western Utah Copper Project near Milford, Utah, the Iron Mountain project near Cedar City, Utah, in addition to exploration stage projects in Utah, Nevada, 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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