Placer Dome Provides Update on Strike at Zaldivar

Placer Dome Provides Update on Strike at Zaldivar 


VANCOUVER, July 8  /PRNewswire-FirstCall/ -- Unionized workers at Placer Dome
Inc.'s (NYSE, TSX, ASX: PDG) Zaldivar copper mine in Chile began strike action
on July 4, 2005. The local authorities have now completed their initial
inspections and review of the mine's operational contingency plans. The plans
have been accepted subject to a temporary restriction limiting production to
120 tonnes (265,000 pounds) of copper per day, or approximately one third of
typical daily production, until further site training of contract workers is
completed. Once the training is complete, the mine will request removal of the
restriction on production.

Discussions between the mine and the union re-commenced today.

Placer Dome employs 13,000 people at 17 mines in seven countries. The
Vancouver-based company's 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 [phone]
                           Meghan Brown [phone]
  Media Relations:         South America: Felipe Ruiz + 56 2 370 5502
                           North America: Gayle Stewart [phone]
  Toll-free within
   North America:          1-800-565-5815

  Head office
  Suite 1600, Bentall IV
  1055 Dunsmuir Street
  (PO Box 49330,
  Bentall Postal Station)
  Vancouver, B.C. Canada V7X 1P1
  Tel: [phone]
  On the internet: http://www.placerdome.com/

  FORWARD-LOOKING STATEMENTS



This news release contains "forward-looking statements" that were based on
Placer Dome's expectations, estimates and projections as of the dates as of
which those statements were made. These forward-looking statements include,
among other things, statements with respect to Placer Dome's business strategy,
plans, outlook, long-term growth in cash flow, earnings per share and
shareholder value, projections, targets and expectations as to reserves,
resources, results of exploration (including targets) and related expenses,
property acquisitions, mine development, mine operations, mine production
costs, drilling activity, sampling and other data, recovery improvements,
future production levels, capital costs, costs savings, cash and total costs of
production of gold, copper and other minerals, expenditures for environmental
matters and technology, projected life of our mines, reclamation and other post
closure obligations and estimated future expenditures for those matters,
completion dates for the various development stages of mines, future gold and
other mineral prices (including the long-term estimated prices used in
calculating Placer Dome's mineral reserves), the percentage of production
derived from mechanized mining, currency exchange rates, debt reductions, and
the percentage of anticipated production covered by forward sale and other
option contracts or agreements. Generally, these forward-looking statements can
be identified by the use of forward-looking terminology such as "anticipate",
"project", "target", "believe", "estimate", "expect", "intend", "should" and
similar expressions. Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause Placer Dome's
actual results, level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking statements,
including:

  -   uncertainties and costs related to Placer Dome's exploration and
      development activities, such as those associated with determining
      whether gold or other mineral reserves exist on a property;
  -   uncertainties related to feasibility studies that provide estimates
      of expected or anticipated economic returns from a mining project;
  -   uncertainties related to expected production rates, timing of
      production and the cash and total costs of production and milling;
  -   uncertainties related to the future development or implementation of
      new technologies, research and development and, in each case, related
      initiatives and the effect of those on our operating performance;
  -   uncertainties related to the accuracy of our reserve and resource
      estimates and our estimates of future production and future cash and
      total costs of production;
  -   uncertainties related to unexpected judicial or regulatory
      proceedings;
  -   changes in, and the effects of, the laws, regulations and government
      policies affecting our mining operations, particularly laws,
      regulations and policies relating to:
  -   mine expansions, environmental protection and associated compliance
      costs arising from exploration, mine development, mine operations and
      mine closures;
  -   expected effective future tax rates in jurisdictions in which our
      operations are located;
  -   the protection of the health and safety of mine workers; and
  -   mineral rights ownership in countries where our mineral deposits are
      located, including the effect of the Mineral and Petroleum Resources
      Development Act (South Africa);
  -   changes in general economic conditions, the financial markets and in
      the demand and market price for gold, copper and other minerals and
      commodities, such as diesel fuel, electricity and other forms of
      energy, and fluctuations in exchange rates, particularly with respect
      to the value of the U.S. dollar, Canadian dollar, Australian dollar,
      Papua New Guinean kina, South African rand and Chilean peso
  -   the effects of forward selling instruments to protect against
      fluctuations in gold and copper prices and exchange rate movements
      and the risks of counterparty defaults;
  -   changes in accounting policies and methods we use to report our
      financial condition, including uncertainties associated with critical
      accounting assumptions and estimates;
  -   geopolitical uncertainty and political and economic instability in
      countries which we operate; and
  -   labour strikes, work stoppages, or other interruptions to, or
      difficulties in, the employment of labour in markets in which we
      operate mines, or environmental hazards, industrial accidents or
      other events or occurrences that interrupt the production of minerals
      in our mines.



A discussion of these and other factors that may affect Placer Dome's actual
results, performance, achievements or financial position is contained in the
filings by Placer Dome with the U.S. Securities and Exchange Commission and
Canadian provincial securities regulatory authorities. This list is not
exhaustive of the factors that may affect our forward-looking statements. These
and other factors should be considered carefully and readers should not place
undue reliance on such forward-looking statements. Placer Dome does not
undertake to update any forward-looking statements that are incorporated by
reference herein, except in accordance with applicable securities laws. 

DATASOURCE: Placer Dome Inc.



CONTACT: Investor Relations: Greg Martin, [phone]; Meghan Brown,

[phone]; Media Relations: South America: Felipe Ruiz + 56 2 370 5502;

North America: Gayle Stewart, [phone]; Toll-free within North America:

1-800-565-5815; Head office: Suite 1600, Bentall IV, 1055 Dunsmuir Street,

(PO Box 49330, Bentall Postal Station), Vancouver, B.C., Canada, V7X 1P1,

Tel: [phone], On the internet: http://www.placerdome.com/;

Archived images on this organization are searchable through CNW Photo Archive

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