Palladon Ventures Ltd.

Palladon Ventures Ltd.

August 27, 2009 14:28 ET

Palladon Ventures Ltd.-Revocation of Cease Trade Order

SALT LAKE CITY, UTAH--(Marketwire - Aug. 27, 2009) - Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE:PLL)(FRANKFURT:PV-1) is pleased to announce that the British Columbia Securities Commission (the "Commission") has granted a full revocation (the "Revocation") of the cease trade order issued by the Commission against the Company (the "CTO").

The CTO had been imposed by the Commission in respect of deficiencies in the Company's August 31, 2008 and November 30, 2008 interim financial statements, management's discussion and analysis and failure to file a business acquisition report. The Company filed its amended and restated financial statements for the interim periods ending May 31, 2008, August 31, 2008 and November 30, 2008, their accompanying amended and restated Management, Discussion and Analysis and business acquisition report. All of the Company's continuous disclosure documents can be reviewed on SEDAR.

The Company anticipates having its shares reinstated for trading on the TSX Venture Exchange in the near future. Management will provide a further update once it has determined the date trading of the Company's shares will commence.

On Behalf of the Board of Directors,

John W. Cutler, President & Chief Executive Officer

About Palladon

Palladon Ventures Ltd. is a junior resource company focused on advancing the Comstock/Mountain Lion iron mine in Iron County, Utah. Palladon also holds gold exploration projects in Nevada and Utah.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company. 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 labour problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, (8) other factors beyond the Company's control and (9) the risk that the Company will not be able to raise funds due to Luxor Capital Group. 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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