SOURCE: Placer Gold Corp.

Placer Gold Corp.

November 09, 2009 08:32 ET

Placer Gold Corp. Gold Mines Projects Financing

LAS VEGAS, NV--(Marketwire - November 9, 2009) - Placer Gold Corp. (PINKSHEETS: PGCR), the "Company," is progressing its gold mine financing proposals for the construction and operation of a number of placer gold mines with annual planned production of up to 500,000 ounces per year.

The company's JV partners previously prepared and circulated off-balance-sheet offerings to institutional investors for as much as $500 million in gold mine financing, which PGCR was unable to complete at the lower gold price prevailing 6 months ago.

The JV previously proposed effectively forward selling up to 1,000,000 ounces of gold at $500 per ounce from a portion of future mine production to fund new mine capital and start-up expenditures.

The financial market for gold mine financing is now strengthening considerably. Sovereign funds and central banks such as India are now clamoring to switch out of dollars and into bullion in a market increasingly constrained by lack of mined bullion supply.

Institutional level bankers and Investors have recently asked the company to re-submit the financing offerings with a view to their clients securing future gold bullion deliveries at a significant discount, from the JV's proposed slate of large-scale environmentally sound alluvial gold mines in North and South America.

Mr. Sterling, CEO, commented, "Gold bullion and gold stocks are two proven ways of protecting investors' money in times of stress. PGCR's proposed bullion production share plans are looking increasingly attractive to institutions as the US dollar continues to decline due to artificially low interest rates and rampant new paper money creation."

The company is also securing strategic positions in new large-scale renewable energy business opportunities.

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with resource exploration risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect PGCR's financial results is included in its filings with the Securities and Exchange Commission.

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