Plutonic Power Corporation

Plutonic Power Corporation

July 09, 2007 10:02 ET

Plutonic Power Successfully Applies for Two New Run-Of-River Hydroelectric Projects

Project Highlights: - Two run of river sites located in the Bute Inlet area at Jewakwa River and Scar Creek - Total capacity potential of approximately 155 Megawatts ("MW") - Potential to generate approximately 475 Gigawatt hours ("GW.h") of renewable energy annually

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2007) - Plutonic Power Corporation (TSX:PCC) is pleased to announce that it has successfully completed Stages 1 and 2 towards securing a Water License and Crown Land rights from the Water Stewardship Division (BC Ministry of the Environment) and the Integrated Land Management Bureau (BC Ministry of Agriculture and Lands), for the development of two run-of-river non-storage hydroelectric power projects to be located on Jewakwa River and Scar Creek, near the headwaters of Knight Inlet, approximately 130 km north of Powell River, BC.

These projects have a combined potential capacity of 155 MW and could be expected to generate approximately 475 GW.h of green energy per year, enough electricity to meet the needs of approximately 47,000 homes.

"While our short term objective is the closure of $600 million in project finance and the commencement of construction on the East Toba River and Montrose Creek Project, Plutonic will continue to work towards helping British Columbia return to being self sufficient to meet its long term electricity needs. Today BC Hydro imports up to 15% of the electricity required to meet load which predominantly comes from imported thermal electricity. These two new green energy projects enhance Platonic's ability to make a significant contribution towards British Columbia being a North American environmental leader." stated Donald McInnes, President of Plutonic Power.

Plutonic Power is an emerging renewable energy producer in British Columbia. Its proposed 31 development projects have a design capacity of approximately 1600 MW with the potential to generate over 5000 GW.h per annum of green energy - enough energy to meet the annual needs of about 500,000 homes. Included in the 31 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 create approximately 4000 person years of construction employment.

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

On behalf of the Board of Directors


Donald McInnes, President

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.

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

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