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PLACER DOME PLANS MINE CLOSURE

 VANCOUVER, Feb. 22 /CNW/ - Placer Dome Inc. said today it plans to close its Dona Lake gold mine in north-western Ontario on August 1, 1993. Ore reserves are considered to be sufficient to allow production only until that time. Eighty-one employees will be affected and a programme of gradual downsizing of the workforce will start immediately.
 Exploration drilling is ongoing and is planned to continue at depth in the mine. There is a possibility that drilling results may delay closure in August.
 In 1992, the Dona Lake Mine contributed 46,000 ozs. of gold at a cash production cost of US$283/oz. to Placer Dome's total share of production of 1,953,000 ozs. of gold. Year-end ore reserves were 29,700 ozs. of gold. The mine is located near Pickle Lake, 300 miles north of Thunder Bay.
 For complete information on the Placer Dome Group, access Stardata (CNW), Dow Jones News Retrieval, Bloomberg Financial Markets, Infoglobe, Infomart or QL Systems in Canada, and Dow Jones News Retrieval, Bloomberg Financial Markets, Standard & Poor's or First Call in the United States.
 For further information: Earl Dunlop, Investor Relations (604) 661-3779 or Hugh Leggatt, Media Relations (604) 661-1554
 (PDG.)
 -0- 02/22/93


CO: PLACER DOME INC. ST:

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Publication:PR Newswire
Date:Feb 22, 1993
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