Salt Lake City, UT, May 6, 2010. Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX-V: PLL.V) (Frankfurt: PV-1). Palladon announced today that it has received approval from the TSX Venture Exchange for its fully subscribed $1.1 million private placement (the "Private Placement"). The Private Placement was completed at a price of $0.055 per share. Of the $1.1 million, $435,000 will be used to fund the Company's pro-rata share of a capital call from Palladon Iron Corp. The balance will be used to fund working capital and to pay expenses required to remain a public company. The Company will close the Private Placement today.

All of the common shares issued in the Private Placement will be subject to a four month hold period commencing on the date of closing.


On Behalf of the Board of Directors,
John Cutler
President

About Palladon
Palladon Ventures Ltd. holds a significant minority interest in Palladon Iron Corporation, which is focused on advancing the Iron Mountain Project, an iron ore mine located west of Cedar City, Utah.

For Further Information Please Contact:
John Cutler
President
Palladon Ventures Ltd.
801.521.5252 Tel
604.681.4760 Fax
Email: info@palladonventures.com
Website: www.palladonventures.com