Plutonic Power Corporation

Plutonic Power Corporation

August 24, 2005 09:00 ET

Plutonic Power Secures Rights for 21 MW Run-of-River Green Energy Hydropower Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 24, 2005) - Plutonic Power Corporation (TSX VENTURE:PCC) -

Project Highlights

- Design capacity of 21 Megawatts

- Expected to generate 71 Gigawatt hours of "green" energy annually

- Ideal Project location for valuable high load winter energy generation

Plutonic Power Corporation has successfully completed Stages 1 and 2 towards securing a Water License and Crown Land rights from Land and Water British Columbia, a crown corporation of the Government of British Columbia, for the development of an 21 MW run-of-river nonstorage hydroelectric power generation project on Freda Creek, near Powell River, British Columbia.

The Freda Creek Project has a design capacity of 21 Megawatts ("MW") and is expected to generate 71 Gigawatt hours of green energy per year ("GW.h"), enough energy to meet the needs for approximately 7,100 homes. A unique feature of the Freda Creek Project is that it is located in the coastal rainshadow of southwestern British Columbia. The result is that the annual expected energy generation pattern at Freda will closely follow the load pattern of energy consumption in British Columbia.

Plutonic Power is an emerging energy producer in British Columbia. Its proposed 19 projects have a design capacity of over 870 MW and the potential to generate approximately 2900 GWh per annum of green energy, enough energy to meet the annual energy needs of a city of 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 ever single private sector energy investments ever made in British Columbia and would create over 2,400 person-years of employment.

Plutonic Power is currently preparing six of its development projects for BC Hydro's next call for tender. Plutonic is committed to working 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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