SOURCE: Placer Gold Corp.

April 15, 2009 10:02 ET

Placer Gold Corp. (OTC: PGCR) Gold Mines Acquisition Update

LAS VEGAS, NV--(Marketwire - April 15, 2009) - Placer Gold Corp. (PINKSHEETS: PGCR) (the "Company"), is advancing financing, mining and development plans for a number of Alaska and South American placer gold projects, which are scheduled for development in 2009-2010.

In addition, the company is actively seeking immediate production projects to broaden its geographical spread and accelerate gold production.

PGCR is in advanced negotiations to acquire a 50% equity stake in a North American open pit gold mine, with approximately 10 years' reserves, and an on-site ore processing plant. The potential is for immediate recommencement of 20,000 ounces p.a gold production requiring only a modest capital investment, which is also currently being arranged. More details will be released upon completion of the acquisition.

PGCR is still progressing mine construction financing with various banking partners for its larger onshore and offshore Nome gold projects, and expects to make an update in the coming weeks.

The Company is extending the ex-date for the Pavilion Energy Resources (PVRE) distribution to April 24th. Shareholders on record of the ex-date will receive 1 share of PVRE for every 20 shares of PGCR owned. This is special dividend is a result of the agreement reached between Pavilion Energy and Placer Gold to purchase the oil and gas assets of Placer Gold, formerly Arctic Oil & Gas Corp.

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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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