Palladon Ventures Ltd.

Palladon Ventures Ltd.

October 25, 2006 12:49 ET

Palladon Retains Ascenta Capital Partners Inc. to Provide Investor Relations Services

SALT LAKE CITY, UTAH--(CCNMatthews - Oct. 25, 2006) - Palladon Ventures Ltd. (TSX VENTURE:PLL)(FWB:PV-1) is pleased to announce that it has retained Ascenta Capital Partners Inc. of Vancouver, BC, to provide investor relations and financial communications services.

Ascenta will receive a monthly retainer of $5,000 for a 12-month term subject to termination by either party with 30 days written notice. Palladon will also issue as compensation to Ascenta an option, subject to regulatory approval, to purchase 200,000 common shares at an exercise price of $0.80 per share which will be effective for a period of 30 days after the termination of the contract. The options granted will vest in accordance with TSX Venture Exchange guidelines and Palladon's stock option plan. This agreement is subject to regulatory approval.

Palladon Ventures Ltd. is a junior resource company focused on the redevelopment of historic iron mines on Iron Mountain, near Cedar City, Utah. The Company also holds gold and copper exploration projects throughout Nevada, and Argentina.

About Ascenta Capital Partners Ltd.

Ascenta is a leading provider of investor relations services to public companies in Canada. Ascenta's strength is its disciplined approach to the development and execution of strategic, customized investor relations programs and services.

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. The company is focused on the redevelopment of the Comstock/Mountain Lion iron mine in Iron County, Utah, and has interests in copper and gold exploration projects throughout 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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