PLL

Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE: PLL)(FRANKFURT: PV-1). Palladon is pleased to announce that pursuant to its press releases dated September 15, 2009 - announcing the posting of the PowerPoint presentation - and September 25, 2009 - announcing the posting of the NI 43-101 Preliminary Economic Assessment (the "PEA"), Palladon has updated the PowerPoint presentation to include the previously omitted tables. All information in the PowerPoint presentation has been derived from the PEA. The PowerPoint presentation is available for viewing at www.palladonventures.com.

On Behalf of the Board of Directors,

John W. Cutler, President and Chief Executive Officer

About Palladon

Palladon Ventures Ltd. is a junior resource company focused on advancing the Iron Mountain Project, an iron ore mine located west of Cedar City, Utah.

Disclaimer for Forward-Looking Information

Certain statements in this release are 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 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.

Contacts: Palladon Ventures Ltd. John W. Cutler President & CEO 801.521.5252 801.521.5454 (FAX) info@palladonventures.com www.palladonventures.com