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Placer Gold Corp.: Placer Gold Corp., Michigan State Wind Energy Project

^{Published on 2009-10-22 07:39:24 - Market Wire}
 

LAS VEGAS, NV--(Marketwire - October 22, 2009) - Placer Gold Corp. (PINKSHEETS: [ PGCR ]), the "Company," is securing new renewable energy business opportunities.

PGCR is a 10% equity partner in a Joint Venture which recently lodged a high-level proposal with the Michigan State Government to develop a super-giant wind project in the Great Lakes region.

This project is of large enough scale as to provide very substantial industrial and job growth in Detroit and Cleveland Cities and the State. Construction jobs would last for 25 years. Net employment gain of 100,000 is possible.

The Michigan clean power project would be completed in stages over a 25-year period, consisting of a number of connected wind-farms, each with 5GW+ output.

Wind module construction timelines are much shorter than for conventional power projects.

The project's capital cost is estimated at 1/4 that of a nuclear, coal or conventional wind plant. The wind-fuel is free and forever.

FINANCING: 30% of the capital cost of wind projects is currently available as a government grant. Renewable energy loan guarantees are also available.

This proposed wind power project would eventually add 25-50GW of new clean power capacity to the Electricity Grid to power homes and GM's future electric vehicle fleet.

The additional wind power proposed would allow Michigan's targeted C02 emissions reductions to be met at a lower allowance cost, saving consumers an estimated $3-$5 billion per year in future carbon taxes.

Potential clean energy revenues of approximately $1-2 billion per year could accrue to PGCR if only 1/4 of its current slate of proposed clean power projects are completed.

To view a wind project presentation please visit: [ http://www.zero-carbon-energy.com/PGCR.htm ]

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.