=======================================================================
      Palladon Announces Changes To Board Of Directors
=======================================================================

Salt Lake City,  Utah,  September 23, 2008, Palladon Ventures Ltd.
("the Company") (TSX.V: PLL) (Frankfurt: PV-1) announces the results of
the Company's Annual General Meeting and the following changes to the
Board of Directors effective September 17, 2008.  Robert Getz, Leonard
J. Sojka and John Brownlie are newly-elected to the Board of Directors.

Robert Getz has served as a Managing Director and Partner of
Cornerstone Equity Investors, LLC, a New York based private equity
investment firm since 1997.  Over the past twenty years, Mr. Getz has
completed numerous transactions in the manufacturing, technology,
business and financial services and healthcare sectors.  He holds a
B.A. in International Relations from Boston University and a MBA in
finance from the Stern School of Business at New York University.

Leonard J. Sojka is an analyst and portfolio manager with SVR Capital,
LLC, with applied fundamental, technical and arbitrage investment
analysis experience in a wide variety of companies and industries.  For
the past several years he has focused exclusively on investments in the
metals and mining sector.  He has a MBA in finance from the University
of Chicago Graduate School of Business and a BSB in accounting from the
University of Minnesota.

John Brownlie currently serves as Chief Operating Officer and Director
of Capital Gold Corporation.  He has over 28 years of experience and
has specialized in the production of coal, gold, diamonds and other
products such as asbestos, cement and platinum.  John has also
significant experience in the gold heap leaching, the design of bulk
materials transport, heavy media, magnetic separation and gravity
separation plants, flotation and grinding circuits.

Also re-elected to serve another term on the Board of Directors are
Donald G. Foot, Jr., Annjanine F. Etzel, John Cutler and Jeff Clark.
Donald G. Foot Jr., was re-appointed President & CEO, Annjanine F.
Etzel, CFO & Corporate Secretary and Darrel Twede, Acting CTO/COO. 

Daniel Tao will be serving in a technical advisory role with Palladon.
Ronald O. Harma, Jared Sturdivant and George S. Young did not stand for
re-election.  The Company thanks these gentlemen for their collective
past service to the Company and wishes them the best success. 

The Company also announces the appointment of Deloitte & Touche, LLP to
serve as auditors of the Company for the fiscal year ending February
28, 2009, and the approval of the Stock Option  Plan.

"We are excited with the additions to the Board", said Don Foot,
President & CEO of Palladon Ventures.  "The additions of Mr. Getz, Mr.
Brownlie and Mr. Sojka bring additional seasoned experience in both
finance and mining." 

On Behalf of the Board of Directors,
Donald G. Foot, Jr.
President & Chief Executive Officer


About Palladon
Palladon Ventures Ltd. is a junior resource company focused on building
production facilities at the Comstock/Mountain Lion iron mine in Iron
County, Utah. Palladon also holds gold exploration projects in Nevada,
Utah and Argentina.

For Further Information Please Contact:
Donald G. Foot Jr.
President & CEO
Palladon Ventures Ltd.
801.521.5252 Tel
801.521.5454 Fax
Email: info@palladonventures.com
Website: www.palladonventures.com; www.irobullmining.com


WARNING:  This news release may contain forward-looking statements
including but not limited to comments regarding the timing and content
of up-coming work programs, permitting processes, the first shipment of
iron ore from the site, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties.  Actual results may
differ materially from those currently anticipated in such statements.
Palladon Ventures Ltd. relies upon litigation protection for
forward-looking statements.

The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of the contents hereof.

=======================================================================
Copyright (c) 2008 PALLADON VENTURES LTD. (PLL)  All rights reserved.
For more information visit our website at
http://www.palladonventures.com/ or send
mailto:info@palladonventures.com
=======================================================================
.