Palladon Ventures Ltd.

Palladon Ventures Ltd.

September 01, 2009 16:55 ET

Palladon Ventures Ltd.-Stock to Resume Trading

SALT LAKE CITY, UTAH--(Marketwire - Sept. 1, 2009) - Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE:PLL)(FRANKFURT:PV-1) is pleased to issue the following press release.

The Company previously announced on August 27, 2009, that the British Columbia Securities Commission ("BCSC") has revoked the Cease Trade Order as it applies to Palladon Ventures Ltd., which allows trading in the securities of Palladon to resume.

The Company is pleased to announce that based on the revocation of the cease trade order, the TSX Venture Exchange has reinstated trading in Palladon's shares. Trading will resume in Palladon as of the market open on Wednesday, September 2, 2009.

Palladon CEO John Cutler stated, "We are delighted to finish a difficult chapter in the company's history by putting this firmly behind us. Palladon will now devote 100% of its efforts to advancing the Iron Mountain Project. The near term focus is to raise a minimum of US$5 million by October 15th, thereby extending the Luxor debt obligation until the end of 2010."

"We are confident that we have a significant deposit and an attractive project. We will demonstrate this to current shareholders and prospective investors over the next two quarters. We look forward to the release of the NI 43-101 compliant Preliminary Economic Assessment on Comstock/Mountain Lion and stockpiles in late September, 2009. Working with SRK, Palladon then plans to complete a Bankable Feasibility Study by late March, 2010."

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's: (1) belief that it has a significant deposit and an attractive project; (2) expectation that it will file a NI 43-101 compliant Preliminary Economic Assessment on Comstock / Mountain Lion and stockpiles in late September 2009; and (3) expectation that it will complete a Bank Feasibility Study by late March 2010. 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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