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

Palladon Ventures Ltd.

August 21, 2007 15:10 ET

Palladon Pours Concrete for Substation Foundation and Announces Investor Conference Call

SALT LAKE CITY, UTAH--(Marketwire - Aug. 21, 2007) - Palladon Ventures Ltd. (TSX VENTURE:PLL)(FRANKFURT:PV-1) has commenced construction and updated the schedule for the installation and completion of power substation facilities at the Iron Mountain project near Cedar City, Utah.

Today Palladon Iron will begin pouring concrete foundations for a 4-foot-thick support pad measuring 22 feet by 15.5 feet. This concrete pad will support the new 51-ton transformer currently in transit to the site. The transformer and substation installation is scheduled for September and October with all electrical feed systems to be operational by the end of calendar year 2007.

The power infrastructure at Iron Mountain will consist of a large electrical substation and switching unit connecting future Iron Mountain plant facilities to Cedar City's 138 kV main power line which feeds from two directions. The power substation project includes the pouring of concrete foundations, construction of control housing, installation of switching gear and transformer, and the installation of transmission lines and power poles. The design of the substation will allow for distribution of power from several sources, ensuring a stable power supply free of surges and interruptions and a substation large enough for future expansion.

"We are excited to be finally starting to pour concrete at the site and commence construction of our facilities. Having power by the end of the year will enhance our ability to continue construction of the new mill facilities during the winter months," said Donald G. Foot, Jr., President and CEO of Palladon Ventures, Ltd.

Investor Conference Call

Palladon President and CEO, Donald G. Foot, Jr., will hold an investor conference call and business update on Friday, August 24, 2007, at 11:00 a.m. Eastern Daylight Time, (8:00 a.m. Pacific Daylight Time). Members of the financial community will be invited to participate in a question and answer period at the end of the call. To participate in the call please dial the following numbers:

416-641-6125 (Toronto) / 866-542-4236 (Toll-Free North America)

Replay:

416-695-5800 / 800-408-3053

Passcode: 3232924 #

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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