SALT LAKE CITY, UTAH–(EMWNews – July 21, 2008) – A correction from source is issued with respect to the Palladon Ventures Ltd. (TSX VENTURE:PLL)(FRANKFURT:PV-1) news release that was disseminated on July 16th, 2008. The Passcode listed was incorrect, and directions to access the webcast on Palladon’s website were not included. The corrected release follows.

Palladon Ventures Ltd., through its wholly-owned subsidiary, Palladon Iron Corporation, announces that the Company will host a conference call and live webcast to discuss the details of the start-up of the Iron Mountain mine near Cedar City, Utah.

Palladon President and CEO, Donald G. Foot, Jr., will hold an investor conference call and business update on Wednesday, July 23, 2008 at 12:00 p.m. Eastern Daylight Time, (9:00 a.m. Pacific Daylight Time). Members of the financial community will be invited to participate in a question and answer period at the end of the call. To participate in the call, please dial the following numbers:

416-340-2216 (Toronto) / 866-898-9626 (Toll-Free North America)

Replay:

416-695-5800 (Toronto) / 800-408-3053

Passcode: 3266528

The live webcast may be accessed on www.palladonventures.com.

On Behalf of the Board of Directors,

Donald G. Foot, Jr., President and 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.

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