Plutonic Power Submits 120 MW Upper Toba Valley Run-of-River Project into the Environmental Permitting Process


Vancouver, BC, July 31, 2007 - Plutonic Power Corporation (PCC - TSX) is pleased to announce that it has submitted its 100% owned Upper Toba Valley run-of-river project ("Project") into the Environmental Assessment Process. The Environmental Assessment Office (EAO) has issued a Section 10 order that binds the project to the Environmental Assessment Act.

The submission of the Project to the EAO is for the construction of three run-of-river generating facilities in the vicinity of Toba Inlet, on Dalgleish Creek, Jimmie Creek and the Upper Toba River, with an estimated combined generation capacity of 120 MW and the potential to produce approximately 350 GWh of electricity annually. Plutonic intends to enter this Project into the next call for tender by BC Hydro, which is expected to be announced later this year.

"The Upper Toba Valley Project is a key component in the development of the Green Power Corridor, which, when completed, will help BC reduce its reliance on non-renewable imported energy," said Donald McInnes, President of Plutonic Power. "We also believe that the permitting process for this series of projects will be expedited due to the large database of information already collected in the area for the permitting of the East Toba and Montrose project."

"The Klahoose First Nation is supportive of this Project and included it in our original agreement with Plutonic," said Chief Ken Brown, of the Klahoose First Nation. "Having this Project as part of Plutonic's response to the next BC Hydro call will continue to provide significant revenue and economic opportunities to the band and membership at large."

The company expects to complete the permitting for the Upper Toba Valley Project in early 2009.

Plutonic Power is an emerging renewable energy producer in British Columbia. Its proposed 31 development projects have a design capacity of up to 1,600 MW with the potential to generate approximately 5,000 GWh per annum of green energy - enough energy to meet the annual energy needs of over 500,000 homes. These development projects represent the largest inventory of undeveloped green energy projects in British Columbia. Included in the 31 projects is the creation of the Green Power Corridor, a series of non-storage hydroelectric projects in southwestern BC, which hold the potential to catapult British Columbia to the forefront of green energy generation in North America. The completion of the Green Power Corridor would create approximately 4000 person years of employment.

Plutonic is committed to becoming the pre-eminent supplier of green energy in British Columbia by working with First Nations, stakeholder groups and local communities in the development of all its run-of-river projects. This commitment will help British Columbia realize its goal of becoming electricity self-sufficient by 2016 and meet demand utilizing 90% clean generation sources.

On behalf of the Board of Directors


Donald McInnes, President

For additional information please contact:
Lisa May
Investor Relations
Office: 604-669-4999 ext 1034
Cell: 604-314-3362

The TSX does not accept responsibility for the adequacy or accuracy of this release. Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.