UPDATE: MONDAY, NOVEMBER 17, 2008

Last week’s update was a bit different as there were a lot of questions that came up that we wanted to answer. We have received positive feedback, so we will try and do this periodically. The mine continues to move forward. The stockpile is currently at capacity, so we have the opportunity to move waste material in development of the “ultimate pit” which allows for easier mining at reduced costs. The focus of today’s update will be the technology and communication system to be used throughout all of Palladon.

The equipment for the new communication/web/database systems are all on site and ready to be implemented both here is Salt Lake as well as at the mine in Cedar City. The initial focus has been to get the mine site stable for both voice and data communications. Without cell service at the mine, we have had limited communication service to this point. Our communications partner has put in temporary equipment to help us along until the permanent networking gear is installed in about two weeks. When that is done we will have a solid and consistent network. The Virtual Private Network from Salt Lake to Cedar City is moving forward. The Cedar City site was installed last Thursday and the Salt Lake side will be installed on Monday. This will allow us to securely share data anywhere in the company. It also allows for complete redundancy of all data and superior back-up so that no one can get into the system and delete or corrupt data.

The internal database for mine accounting is ready for tracking the ore from the mine to the port and back again. We are training the staff on its use. It will be moved from the development environment to the production servers this week. The production servers for our website and email will be installed this week and we will begin the redesign of our public presence. We will continue to keep ironbullmining.com and palladonventures.com up to date with the latest information on the Company in the meantime.

We are excited about the communications capabilities that we will be putting into play in the next couple of months. We think it will be beneficial to all.

PRESENTATION

Don Foot will be presenting at talk at the Southwest Showcase conference on Wednesday November 19, 2008 at 3:55pm. His PowerPoint presentation will be posted on the website by next Monday.