Salt Lake City, Utah, March 27, 2009. Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX.V: PLL) (Frankfurt: PV-1) through its wholly-owned subsidiary, Palladon Iron Corporation, announces operational and resource updates.

Palladon has been committed and has worked diligently to effect the shipment of ROM ore. We have benefited from untiring support from our partners both in China and domestically to make this happen and for that we are truly grateful. In spite of these efforts, it is clear that shipping ROM ore in this environment is uneconomic. Therefore, the Board of Directors has decided to suspend that effort in the short term