Plutonic Power Corporation

Plutonic Power Corporation

March 31, 2006 14:38 ET

Mr. Paul Sweeney Joins as Advisor to Plutonic Power Corporation

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 31, 2006) - Plutonic Power Corporation (TSX VENTURE:PCC), a Vancouver, BC based renewable energy company, is pleased to announce the engagement of Mr. Paul Sweeney as a financial advisor to the Company. Mr. Sweeney has a tremendous track record of success with project finance, having most recently served as Chief Financial Officer of Canico Resource Corp. where he was responsible for among other things, arranging project financing for the Onca-Puma Nickel Project. Financing of the project was well underway and commitments received when Canico was bought by way of a $940 million takeover by CVRD. Prior to Canico he was Vice President and Chief Financial Officer for Sutton Resource Corp. where he had arranged the debt financing for the Bulyanhulu gold mine in Tanzania prior to Sutton's take out by Barrick Gold Corp.

In this role Mr. Sweeney will help advise and arrange a total debt and equity financing package that will enable construction to commence as soon as possible for the Company's projects being bid into the BC Hydro call for tender process. In partial consideration of his engagement, 300,000 common share purchase options, with an exercise price of $0.80 and a five year term, will be granted to Mr. Sweeney with certain vesting rights and conditions relating to performance.

Plutonic Power is an emerging renewable energy producer in British Columbia. Its proposed 19 run of river projects have a design capacity of over 870 MW and the potential to generate approximately 2900 GW.h per annum of green energy, enough energy to meet the annual energy needs of approximately 300,000 homes. Included in the 19 projects is the creation of the Green Power Corridor, a series of non-storage hydroelectric projects in southwestern BC, which hold the potential to catapult British Columbia to the forefront of green energy generation in North America. The completion of the Green Power Corridor would be through one of the largest single private sector green energy investments ever made in British Columbia and would create over 2,400 person-years of employment.

Plutonic is committed to continuously work with First Nations, stakeholder groups and local communities in the development of its run of river projects.

On behalf of the Board of Directors


Donald McInnes, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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