Placer Dome announces $500 million offering of common shares All amounts in U.S. dollars VANCOUVER, Nov. 8 /PRNewswire-FirstCall/ -- Placer Dome Inc. (NYSE, TSX, ASX: PDG) today announced it intends to raise approximately $500 million in a public offering of common shares. A preliminary short form prospectus has been filed under the multijurisdictional disclosure system with securities regulatory authorities in Canada, and a registration statement has been filed with the U.S. Securities Exchange Commission with respect to the offering. The offering price will be determined between representatives of Placer Dome and a syndicate of underwriters. The final terms of the offering will be determined at the time of pricing. Net proceeds from the offering will be used for general corporate purposes, which may include funding of new project development and other capital expenditures. CIBC World Markets and Scotia Capital will act as lead managers for the offering. Placer Dome is proposing to grant the underwriters an option to purchase up to $50 million of additional common shares to cover over- allotments, if any. Copies of the preliminary prospectus and related documents filed with securities regulatory authorities in Canada may be obtained from: CIBC World Markets Inc. 161 Bay Street, 6th Floor Toronto, ON M5J 2S8 Fax: (416) 594-7242 or Scotia Capital Inc. 40 King Street West Scotia Plaza, 65th Floor Toronto, ON M5W 2X6 Tel: (416) 862-5837 Attention: Equity Capital Markets Copies of the preliminary prospectus filed with the U.S. Securities and Exchange Commission may be obtained from: CIBC World Markets Corp. 417 Fifth Avenue New York, NY 10016 Fax: (212) 667-6136 e-mail or Scotia Capital (USA) Inc. 1 Liberty Plaza, 25th Floor 165 Broadway New York, NY 10006 Tel: (212) 225-6500 Attention: Mr. Grant Harder A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any offer of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Vancouver-based Placer Dome Inc. operates 17 mines in seven countries. The company's common shares trade on the Toronto, New York, Swiss and Australian stock exchanges and Euronext-Paris under the symbol PDG. For further information please contact: Investor Relations: Greg Martin (604) 661-3795 Media Relations: Joe Danni (604) 661-1941 Head Office Suite 1600, Bentall IV 1055 Dunsmuir Street (PO Box 49330, Bentall Postal Station) Vancouver, British Columbia Canada V7X 1P1 Tel: (604) 682-7082 Fax: (604) 682-7092 On the internet: http://www.placerdome.com/ CAUTIONARY NOTE Some of the statements contained in this report are forward-looking statements, such as estimates and statements that describe Placer Dome's future plans, expectations, objectives or goals, including words to the effect that Placer Dome or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "intends", "expects", "estimates", "may", "could", "would", "will" or "plan". Such forward-looking statements are made pursuant to the safe harbour provisions of the United States Private Securities Litigation Reform Act of 1995. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, mineral reserves, resources, results of exploration, reclamation and other post-closure costs, capital costs, mine production costs, taxes, and Placer Dome's financial condition and prospects, could differ materially from those currently anticipated in such statements by reason of factors such as the productivity of Placer Dome's mining properties, the speculative nature of mining exploration and development activities, changes in general economic conditions and conditions in the financial markets, including changes to the interest rate on borrowings, changes in demand and prices for the minerals Placer Dome produces, changes in the worldwide price of other commodities such as diesel fuel and electricity, litigation, environmental, legislative and other judicial, regulatory, political and competitive developments in domestic and foreign areas in which Placer Dome operates, technological and operational difficulties encountered in connection with Placer Dome's mining activities, labour relations matters, costs and changing foreign exchange rates and other matters discussed under "Management's Discussion and Analysis" or detailed in Placer Dome's filings with securities regulatory authorities. This list is not exhaustive of the factors that may affect any of Placer Dome's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Placer Dome's forward-looking statements. Further information regarding these and other factors which may cause results to differ materially from those projected in forward-looking statements are included in the filings by Placer Dome with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. Placer Dome does not undertake to update any forward-looking statement that may be made from time to time by Placer Dome or on its behalf, except in accordance with applicable securities laws. DATASOURCE: Placer Dome Inc. CONTACT: Investor Relations: Greg Martin, (604) 661-3795; Media Relations: Joe Danni, (604) 661-1941; Head Office - Suite 1600, Bentall IV, 1055 Dunsmuir Street, (PO Box 49330, Bentall Postal Station), Vancouver, British Columbia, Canada V7X 1P1, Tel: (604) 682-7082, Fax: (604) 682-7092; On the internet: http://www.placerdome.com/; Archived images on this organization are available through CNW E-Pix at http://www.newswire.ca/. Images are free to members of The Canadian Press.

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