SOURCE: Placer Gold Corp.

June 09, 2009 08:47 ET

Placer Gold Corp (OTC: PGCR) Gold Mines Update

LAS VEGAS NV--(Marketwire - June 9, 2009) - Placer Gold Corp. (PINKSHEETS: PGCR) (the "Company") is advancing financing, mining and development plans for various placer gold projects.

The Company plans to shortly jump from a junior explorer to a gold producer. Securing mine Financing on viable terms is the primary challenge facing the Company today.

BEAR CREEK MINE:

The company and its partners have a fully equipped alluvial gold mine at Bear Creek in Alaska which can be bought back into production immediately, subject to securing financing:

   1. The Bear Creek mine has 400 yard/hr dredge equipment on site
      ready to re-commence production.

   2. Delivery of gold bullion could begin as soon as 30 days after
      funding.

   3. Cash production cost less than $200 per ounce.

In addition to existing Bear Creek property under option, the company has the large-scale Nome alluvial gold project ready for development and is actively seeking mine construction financing for it.

PGCR is also evaluating new immediate production properties to increase future gold production. Due to the deteriorating economic situation, especially in developing economies, very attractive gold properties are available at fire-sale prices. The company has people on the ground in North and South America and is making offers on any attractive properties deemed ready for immediate mine construction.

Pavilion Energy Resources Inc., (PVRE) distribution:

The 1 PVRE for every 20 PGCR dividend shares have now been electronically registered to PGCR shareholders (as of April 24th). The PVRE Shares will become tradeable in 12 months.

Shareholders wishing to receive a physical Rule 144 certificate should contact the PVRE transfer agent, Olde Monmouth Stock Transfer Co., Inc. email: matt@oldemonmouth.com

Please visit: http://www.placergoldcorp.com/

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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