Palladon Ventures Ltd.

Palladon Ventures Ltd.

April 10, 2006 03:02 ET

Palladon Secures Processing Plant Equipment for Iron Mountain Project, Utah

SALT LAKE CITY, UTAH--(CCNMatthews - April 10, 2006) - Palladon Ventures Ltd. (TSX VENTURE:PLL)(FWB:PV-1) is pleased to announce the procurement and purchase of primary ball mill grinding equipment for the Iron Mountain project in Iron County, Utah.

The Company is now assembling components for an iron ore processing facility at the mine mouth of the Comstock/Mountain Lion pit, near the location of the previous facilities of predecessor company Geneva Steel. The initial projected production capacity is 2,000,000 metric tonnes per year of iron concentrate.

Palladon has purchased a used Hardinge 15.5 x 22' Ball Mill with 3000 hp synchronous motor. The condition of the grinding mill was deemed to be satisfactory for commercial purposes after careful examination and testing was performed over a three-day period in March 2006, supervised by experts from Samuel Engineering. Non-destructive evaluation (NDE) consisted of visual examination, dye penetrant testing and magnetic particle testing (magna-flux). Ultrasonic testing was available; however no indications warranted its use. The testing reported that both the bull gear and the pinion (two critical components) were in excellent condition. The unit is estimated to have at least a five-year operating lifespan.

Initially, Palladon planned on purchasing a mill from the Philippines; however the cost of the mill itself, as well as the cost of both transportation and refurbishment, would have nearly tripled the budgeted cost for the ball mill. Palladon was able to locate the "perfectly sized" mill in Tooele, Utah, only 280 miles from the mine site. Full refurbishment is estimated to take 10 weeks, followed by delivery and installation. Ball mill foundations will be poured as soon as the final engineering is complete. Dr. Robert McIvor, Palladon grinding consultant commented, "A used mill can be just as good as a new mill if refurbished correctly."

The processing plant layout leaves room for expansion, and to compensate for lengthening delivery schedules now at 18-24 months for new equipment, Palladon intends to place a new ball mill on order in early 2007.

Palladon President Don Foot commented "We are thrilled to have found such a vital piece of equipment in our own backyard. We are ensured more expedient delivery as a result. We are also pleased that the refurbishment, delivery, and assemblage costs quoted will enable us to accomplish this at costs within our budget."

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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