Placer Dome announces Peter Tomsett as President and CEO VANCOUVER, Aug. 12 /PRNewswire-FirstCall/ -- Placer Dome Inc. (NYSE, TSX, ASX: PDG) today announced Peter Tomsett as the company's new President and Chief Executive Officer effective September 15, 2004. Peter is replacing Jay Taylor who announced his retirement in March. Jay will remain President and CEO through September 15 and thereafter will continue with the company in an advisory role through March 2005. Peter has been with Placer Dome for 18 years, most recently as Executive Vice-President of Placer Dome Asia Pacific and Africa. Under his leadership, the Asia Pacific region grew to become the company's largest operating unit through successful exploration, development and acquisition. Robert Franklin, Chairman of the Board of Placer Dome said, "We conducted an extensive world-wide search for a new leader coordinated by a global search firm. It is a testimony to Jay and the success of the company that we were able to attract the interest of highly qualified external candidates. The process validated the exceptional talent we have at Placer Dome. The Board agreed that the leadership and vision Peter has demonstrated within the Asia Pacific region and his extensive knowledge of the industry and this company, makes him ideally qualified to lead Placer Dome. We are pleased he has accepted this opportunity and look forward to supporting him in this role." Mr. Tomsett graduated with a Bachelor of Engineering (Honours) in Mining Engineering from the University of New South Wales and attained a Master of Science (Distinction) in Mineral Production Management from the Imperial College London. He is Director of the Minerals Council of Australia and the Australian Gold Council. He will be relocating with his family from Brisbane, Australia to Vancouver, Canada. "Peter is an experienced and results-oriented executive," Jay Taylor said. "He has been a key member of Placer Dome's management team and his track record speaks for itself. I think the Board has made an excellent choice and I look forward to supporting him through the transition." Peter said he is motivated by the opportunities for Placer Dome. "I am fortunate to assume the reins of a company that is operating successfully. Under Jay's leadership Placer Dome's performance has improved dramatically, we are bigger, financially stronger and have an exciting future. I hope to build on this momentum to make the company an even greater success." Placer Dome is one of the world's largest and most successful gold mining companies, with interests in 17 mines on five continents and a presence in the world's most prolific gold districts. From a head office in Vancouver, Canada, Placer Dome employs nearly 13,000 people in Canada, the U.S., Chile, Australia, Papua New Guinea, Tanzania and South Africa. In 2004 the company expects to produce 3.6 million ounces of gold and over 400 million pounds of copper. The company's shares trade on the Toronto, New York, Swiss and Australian stock exchanges and Euronext-Paris under the symbol PDG. Placer Dome will host a brief conference call to introduce the new CEO at 11:30am PDT/ 2:30pm EDT on Thursday, August 12. North American participants may access the call at (888) 489-9486. International participants please dial (303) 957-1266. The call will also be webcast on the Placer Dome website at http://www.placerdome.com/. The conference call will be available for replay until August 26, 2004 by dialing (416) 626-4100 and quoting reservation number 21205530. For further information please contact: Investor Relations: Greg Martin (604) 661-3795 Media Relations: Theresa Coles (604) 661-1911 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, 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, changes in general economic conditions and conditions in the financial markets, changes in demand and prices for the minerals Placer Dome produces, 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" is used in this report to collectively mean Placer Dome Inc., its subsidiary companies and its proportionate share of joint ventures. "Placer Dome's share" is defined to exclude minority shareholders' interest. The "Corporation" and "the company" refer to Placer Dome Inc. 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. http://www.newscom.com/cgi-bin/prnh/20040812/TO164 http://photoarchive.ap.org/ DATASOURCE: Placer Dome Inc. CONTACT: Investor Relations: Greg Martin, (604) 661-3795; Media Relations: Theresa Coles, (604) 661-1911; 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/

Copyright