Plato Gold Corp.

Plato Gold Corp.

December 06, 2007 16:30 ET

Plato Gold Acquires New Claims in Timmins-Kirkland Lake Area

TORONTO, ONTARIO--(Marketwire - Dec. 6, 2007) -


Plato Gold Corp. (TSX VENTURE:PGC) ("Plato") an exploration company with a portfolio of properties in significant gold mining camps in Ontario and Quebec, and in Santa Cruz, Argentina is pleased to announce that it has recently acquired a 100 percent interest in 24 claims in northeastern Ontario. The claims were acquired from Geoconseils Jack Stoch Ltee and are within the Harker-Garrison Townships, located near Plato's current claims in the Timmins - Kirkland Lake area in the western portion of the prolific Abitibi Greenstone Belt in northeastern Ontario.

As payment for the claims Plato will issue to Geoconseils Jack Stoch Ltee 100,000 Plato common shares and $46,007. In addition, Geoconseils Jack Stoch Ltee will retain a 2 percent Net Metal Royalty on all mineral production. This acquisition is subject to approval by the TSX Venture Exchange.

All the new claims totaling 384 hectares are within the townships of Harker and Garrison. Plato now holds 154 claims with an area of 2,473.13 hectares in the Timmins - Kirkland Lake area.

Anthony Cohen, President and CEO, of Plato commented: "We are very pleased to add to our current holdings in the region. Plato's strategy is to acquire land positions adjacent to historic gold deposits, past producers and/or currently operating gold mines. This acquisition is in keeping with our corporate strategy in Canada."

About Plato Gold Corp.

Plato Gold Corp. ("Plato") is a Canadian junior gold exploration company listed on the TSX Venture Exchange. Plato has Canadian exploration projects in Northern Ontario and Northern Quebec and the Lolita Property in the province of Santa Cruz, Argentina. The Northern Ontario project includes 5 properties: Guibord, Harker, Harker-Garrison, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario. The Northern Quebec project includes 5 properties: Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, and Pershing Denain. All 5 properties are located near Val d'Or, Quebec; and Plato is in the early stage of exploring these projects. In Argentina, the Lolita Property is comprised of 3 contiguous concessions and initial work has been started on this property.

Cautionary Statements

This news release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation, concerning the business, operations and financial performance and condition of Plato. Forward-looking statements include, but are not limited to, statements with respect to the benefits of the offering and option transaction. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Plato to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: raising less than the required amount; not realizing on the anticipated benefits from the transaction or not realizing on such anticipated benefits within the expected time frame; risks related to exploration; actual resource viability, and other risks of the mining industry. Although management of Plato has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Plato does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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