JANA Acquires Interest in Palladon Ventures Ltd.

NEW YORK, NEW YORK, Jun 27 (MARKET WIRE) --
JANA Partners LLC, on behalf of funds that it manages, announces that it
has acquired 29,062,855 units ("Units") of Palladon Ventures Ltd. (TSXV)
Each Unit is comprised of one common share ("Common Share") and
one-quarter of one warrant ("Warrant"). Each whole Warrant is exercisable
for one Common Share at a price of CDN$1.00 up to and including December
26, 2009.

Under the terms of the Warrants, JANA may not exercise such number of
Warrants that would result in it holding more than 19.99% of the issued
and outstanding number of Common Shares at such time. Assuming the
exercise of the maximum number of permissible Warrants, as of June 26,
2008, JANA holds 34,446,558 Common Shares, representing approximately
19.99% of the issued and outstanding Common Shares on a partially diluted
basis. Assuming the exercise of all of the Warrants, JANA holds
36,328,568 Common Shares, representing approximately 20.85% of the issued
and outstanding Common Shares on a partially diluted basis. The Units
were acquired on a private placement basis.

JANA acquired these securities for investment purposes, and may increase
or decrease the investment in these securities depending on future market
conditions.

For further information, or for a copy of the early warning report filed
in respect of this transaction, please contact: Ms. Jennifer Fanjiang,
JANA Partners LLC, 200 Park Avenue, Suite 3300, New York, New York 10166;
Tel: (212) 692-7696.

Contacts:
JANA Partners LLC
Ms. Jennifer Fanjiang
(212) 692-7696

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