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 VANCOUVER, Oct. 2 /CNW/ - Significant operating improvements have been achieved at mines operated by Placer Dome Inc., Peter Crossgrove, Vice Chairman of the Corporation, told a group of portfolio managers in Vancouver today. The briefing by Mr. Crossgrove also described major increases in gold resources at operating mines.
 "In the first half of 1992, the average cash production cost of gold was US$192 for the Corporation's 15 gold mines, 21 percent less than the year-earlier period. We expect this trend to continue in the third quarter, when our costs should again be significantly lower than in the first half. In conjunction with these operating successes, intensified exploration work at mines operated by Placer Dome has defined additional resources that could augment the Corporation's ore reserves by nearly 10 million ozs. of gold over the next two years," Mr. Crossgrove said.
 He added: "Placer Dome has been aggressively seeking growth in its gold ore reserves. Working on the assumption that the best place to find gold is at an existing gold mine, our exploration group is working closely with our mine geologists to intensify mine site exploration. We think this collaboration is coming up with some very encouraging results."
 The following table lists Placer Dome's share of the new mineral resources already outlined so far. These additional indicated and inferred resources are quantified on the basis of geological data.
 Millions of ozs. gold
 Porgera Mine, Papua New Guinea 0.6
 Pipeline (Cortez Mine), United States 2.5
 Bald Mountain Mine, United States 0.6
 Golden Sunlight Mine, United States 0.6
 Detour Lake Mine, Canada 0.8
 Dome Mine, Canada 2.0
 Sigma Mine, Canada 1.4
 Dona Lake Mine, Canada 0.1
 Ongoing drilling has indicated good potential for further increasing gold resources at several mines. At the Detour Lake Mine, surface drilling has discovered a new zone of gold mineralization with a drill intersection of 1.2 ozs. gold/ton over 20 ft. The mineralization is closer to surface than ore currently being mined, and is near a mined-out area, which would simplify acccess to the zone. Drilling from underground at the Dona Lake Mine has returned an intersection over 50 ft. of 0.44 ozs. gold/ton and drilling is continuing. Exploration drilling programmes are under way at the Misima and Porgera mines in Papua New Guinea with the expectation of positive results.
 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: Investor Relations, Earl Dunlop, (604) 661-3779, or Media Relations, Hugh Leggatt, (604) 661-1554
 -0- 10/02/92

CO: PLACER DOME INC. IN: MNG ST: -- c0349 -- X138 10/02/92
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Date:Oct 2, 1992

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