VANVOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2011) - Palladon Ventures Ltd. ("Palladon" or the "Company") (News - Market indicators) announced today that, subject to TSX Venture Exchange acceptance, it has granted to officers and directors an aggregate of 395,000 stock options, exercisable at a price of C$1.03 per common share for a period of five years. The options are subject to a four month hold period. A total of 2,329,551 shares remain available for issuance under the Company's stock option plan.

About Palladon

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

Disclaimer for Forward-Looking Information:

Certain statements in this release may be 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 labor problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, and (7) inability to finance operations and growth, (8) other factors beyond the Company's control. 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.