Placer Dome comments on Cortez Hills VANCOUVER, June 16 /PRNewswire-FirstCall/ -- Placer Dome Inc. (NYSE, TSX, ASX: PDG) acknowledges market rumours surrounding the Cortez Hills discovery at its 60%-owned Cortez property. The mine has an ongoing program to drill between 100 and 200 holes at the Cortez Hills deposit during 2004. To date 44 holes have been completed. Results of the drilling are preliminary and further work is required to determine the impact on estimated mineral reserves or resources. As the program develops, the company will report on results consistent with its disclosure and reporting requirements and practices. As reported at December 31, 2003, the Cortez Hills deposit, on a 100% basis, hosts proven and probable gold mineral reserves of 5.2 million ounces, measured and indicated gold mineral resources of 0.5 million ounces, and inferred gold mineral resources of 1.0 million ounces. Cortez Hills Mineral Reserve and Resource Estimates at December 31, 2003 (100% basis) > DATASOURCE: Placer Dome Inc. CONTACT: Investor Relations: Greg Martin, (604) 661-3795; Media Relations: Theresa Coles, (604) 661-1911; On the internet: http://www.placerdome.com/

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