Palladon Ventures Ltd.

Palladon Ventures Ltd.

February 09, 2012 09:00 ET

Palladon Ventures-Amended Joint Venture

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2012) - Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE:PLL) announces that it has amended the terms of an agreement dated May 9, 2006 with Invenio Resources Corp. on the Green Springs project located in Nevada and on the Kings Canyon project located in Utah.

Invenio will maintain its option on the Green Springs project, and will be required to complete US$2.5 million of work expenditures by May 2015 in order to earn a 60% undivided interest in the project. The first year commitment is $500,000 to be spent by May 2013, with an additional $750,000 of expenditures to be incurred by May 2014 and a further $1.25 million to be spent by May 2015.

At the Kings Canyon project, Invenio currently has an option from Kinross Gold with the right to earn a 100% interest in 21 claims that is exclusive of Invenio's 2006 agreement with Palladon on the adjacent Kings Canyon property. Invenio and Palladon have agreed to combine both properties for sale or option to a third party. Either way, Invenio and Palladon will participate on a 50/50 basis.

About Palladon Ventures Ltd.

Palladon Ventures Ltd. holds a 19.3% interest in CML Holding, Inc., who is focused on advancing the Iron Mountain Project, an iron ore mine located seventeen miles west of Cedar City, Utah.

Disclaimer for Forward-Looking Information:

Certain statements in this release may be forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration and production, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labor problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, and (7) inability to finance operations and growth, (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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