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MEDIA

Plutonic Power Successfully Applies for Four New Run Of-River Hydroelectric Projects

05/29/2007


Project Highlights:

* Four project sites located in the Bute Inlet area at Algard Creek, East Orford River, North Orford River and "Elliot Neighbour" Creek

* Total design capacity of approximately 108 Megawatts ("MW")

* Potential to generate approximately 362 Gigawatt hours ("GW.h") of renewable energy annually

Vancouver, BC, May 29, 2007 - Plutonic Power Corporation (PCC -TSX.V) is pleased to announce that it has successfully completed Stages 1 and 2 towards securing a Water License and Crown Land rights from the Integrated Land Management Bureau (Ministry of Agriculture and Lands) and the Water Stewardship Division (Ministry of the Environment), for the development of four run-of-river non-storage hydroelectric power projects to be located on Algard Creek, East Orford River, North Orford River and "Elliot Neighbour" Creek, near the headwaters of Bute Inlet, approximately 100 km north of Powell River, BC.

These projects have a combined design capacity of 108 MW and could be expected to generate approximately 362 GW.h of green energy per year, enough to meet the energy needs of approximately 36,000 homes.

"These four new projects demonstrate the company's ability to locate additional run-ofriver sites that will help BC achieve energy self sufficiency," stated Donald McInnes, President of Plutonic Power. "As we continue detailed work in the area, we hope to identify additional project sites that hold promising potential."

These new projects bring the total number of development projects in company's portfolio to 29.

Plutonic Power is an emerging renewable energy producer in British Columbia. Its proposed 29 development projects have a design capacity of over 1400 MW with the potential to generate approximately 4,800 GWh per annum of green energy - enough energy to meet the annual energy needs of over 480,000 homes. Included in the 29 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 working with First Nations, stakeholder groups and local communities in the development of all its run of river projects.

On behalf of the Board of Directors
PLUTONIC POWER CORPORATION

"signed"

Donald McInnes, President

For additional information please contact:
Lisa May
Investor Relations
Office: 604-669-4999 ext 1034
Cell: 604-314-3362
lisa.may@plutonic.ca

The TSX Venture Exchange 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.