Palladon Ventures Ltd.-Revocation of Cease Trade Order

SALT LAKE CITY, UTAH, Aug 27 (MARKET WIRE) --
Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE:
PLL)(FRANKFURT: PV-1) is pleased to announce that the British Columbia
Securities Commission (the "Commission") has granted a full revocation
(the "Revocation") of the cease trade order issued by the Commission
against the Company (the "CTO").

The CTO had been imposed by the Commission in respect of deficiencies in
the Company's August 31, 2008 and November 30, 2008 interim financial
statements, management's discussion and analysis and failure to file a
business acquisition report. The Company filed its amended and restated
financial statements for the interim periods ending May 31, 2008, August
31, 2008 and November 30, 2008, their accompanying amended and restated
Management, Discussion and Analysis and business acquisition report. All
of the Company's continuous disclosure documents can be reviewed on SEDAR.

The Company anticipates having its shares reinstated for trading on the
TSX Venture Exchange in the near future. Management will provide a
further update once it has determined the date trading of the Company's
shares will commence.

On Behalf of the Board of Directors,

John W. Cutler, President & Chief Executive Officer

About Palladon

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

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which
reflect the expectations of management regarding the Company.
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; www.ironbullmining.com

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