VS 2010 - Web Application could not be found

1. Problem:
 Description: If we try to open a site using a SPSite object in a project (in my case it was console application) created using VS 2010 , and it gives following error:
“The Web Application at could not be found. Verify that you have typed the URL correctly. If the URL should be serving existing content, the system administrator may need to add a new request URL mapping to the intended application.”
 Resolution: We all are aware of that there might be lot of other reasons for this error but I got this error during execution of a console application and the cause was, Platform Target is by default selected as x86, as soon as I made it AnyCPU, my application started working.
Happy Coding. Hope it helps.